```

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
    OF REGISTERED MANAGEMENT INVESTMENT COMPANY

  Investment Company Act file number 811-10395

                        Pioneer Series Trust VII
               (Exact name of registrant as specified in charter)

                       60 State Street, Boston, MA 02109
              (Address of principal executive offices) (ZIP code)

            Terrence J. Cullen, Pioneer Investment Management, Inc.,
                       60 State Street, Boston, MA 02109
                    (Name and address of agent for service)

Registrant's telephone number, including area code:  (617) 742-7825

Date of fiscal year end:  October 31

Date of reporting period:  January 31, 2017

Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609.  The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.

<PAGE>
ITEM 1. Schedule of Investments.

File the schedules as of the close of the reporting period as set forth in
ss. 210.12-12  12-14 of Regulation S-X [17 CFR 210.12-12  12-14]. The
schedules need not be audited.
```

```

```

|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Pioneer Global Multisector Income Fund                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
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|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Schedule of Investments 1/31/17 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | Principal Amount ($)                                                                                                                                                                                      | FloatingRate (b)                                                                                                                          |                                      | Value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | CONVERTIBLE CORPORATE BONDS - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Capital Goods - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Electrical Components & Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 56,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | General Cable Corp., 4.5%, 11/15/29 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 46,550                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 46,550                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Software & Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Internet Software & Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | WebMD Health Corp., 2.625%, 6/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 117,812                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 117,812                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL CONVERTIBLE CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $174,085)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 164,362                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | PREFERRED STOCKS - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Financials - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Consumer Finance - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 231                                                                                                                                                                                                       | 6.41                                                                                                                                      |                                      | GMAC Capital Trust I, Floating Rate Note, 2/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 5,937                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 5,937                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $4,505)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 5,937                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | CONVERTIBLE PREFERRED STOCKS - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 44                                                                                                                                                                                                        |                                                                                                                                      |                                      | Bank of America Corp., 7.25%, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 52,459                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 80                                                                                                                                                                                                        |                                                                                                                                      |                                      | Wells Fargo & Co., 7.5% (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 96,084                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 148,543                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 148,543                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL CONVERTIBLE PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $135,552)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 148,543                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | ASSET BACKED SECURITIES - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 47,783                                                                                                                                                                                                    |                                                                                                                                      |                                      | Bear Stearns Asset Backed Securities Trust, 8.35438%, 10/25/29 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 47,924                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 46,711                                                                                                                                                                                                    |                                                                                                                                      |                                      | CKE Restaurant Holdings, Inc., 4.474%, 3/20/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 46,381                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 57,794                                                                                                                                                                                                    |                                                                                                                                      |                                      | Domino's Pizza Master Issuer LLC, 5.216%, 1/27/42 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 58,637                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 28,639                                                                                                                                                                                                    | 5.50                                                                                                                                      |                                      | Mastr Specialized Loan Trust, Floating Rate Note, 10/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 28,961                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 9,559                                                                                                                                                                                                     | 1.46                                                                                                                                      |                                      | New Century Home Equity Loan Trust 2005-1, Floating Rate Note, 3/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 9,515                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 551                                                                                                                                                                                                       |                                                                                                                                      |                                      | Structured Asset Securities Corp., 5.27%, 10/25/34 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 567                                                                             |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 32,750                                                                                                                                                                                                    |                                                                                                                                      |                                      | Terwin Mortgage Trust Series TMTS 2005-16HE, 4.27732%, 9/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 33,231                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $223,152)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 225,216                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | COLLATERALIZED MORTGAGE OBLIGATIONS - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 58,027                                                                                                                                                                                                    | 3.50                                                                                                                                      |                                      | Agate Bay Mortgage Trust 2015-1, Floating Rate Note, 1/25/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 58,244                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 46,905                                                                                                                                                                                                    | 3.50                                                                                                                                      |                                      | Agate Bay Mortgage Trust 2015-5, Floating Rate Note, 7/25/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 47,081                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 2,555                                                                                                                                                                                                     | 1.22                                                                                                                                      |                                      | Alternative Loan Trust 2003-14T1, Floating Rate Note, 8/25/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 2,298                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 5,381                                                                                                                                                                                                     |                                                                                                                                      |                                      | Banc of America Alternative Loan Trust 2004-6, 5.0%, 7/25/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 5,419                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 6,304                                                                                                                                                                                                     |                                                                                                                                      |                                      | Banc of America Mortgage Trust 2004-9, 5.5%, 11/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 6,455                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 80,134                                                                                                                                                                                                    |                                                                                                                                      |                                      | Bayview Commercial Asset Trust 2007-2, 7/27/37 (Step) (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | -                                                                               |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 4,872                                                                                                                                                                                                     | 3.46                                                                                                                                      |                                      | CHL Mortgage Pass-Through Trust 2003-56, Floating Rate Note, 12/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 4,919                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | COMM 2012-LC4 Mortgage Trust, 4.063%, 12/12/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 105,874                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | COMM 2013-LC6 Mortgage Trust, 2.941%, 1/10/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 50,572                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    | 4.55                                                                                                                                      |                                      | COMM 2015-CCRE25 Mortgage Trust, Floating Rate Note, 8/12/48                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 26,532                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 51,655                                                                                                                                                                                                    | 1.08                                                                                                                                      |                                      | Crusade Global Trust No 1 of 2007, Floating Rate Note, 4/19/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 51,315                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 4.54                                                                                                                                      |                                      | CSAIL 2016-C5 Commercial Mortgage Trust REMICS, Floating Rate Note, 11/15/48                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 50,704                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 39,591                                                                                                                                                                                                    | 3.50                                                                                                                                      |                                      | CSMC Trust 2014-WIN2, Floating Rate Note, 10/25/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 39,300                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 7,971                                                                                                                                                                                                     |                                                                                                                                      |                                      | Federal National Mortgage Association REMICS, 4.5%, 6/25/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 8,475                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 45,000                                                                                                                                                                                                    | 5.20                                                                                                                                      |                                      | FREMF Mortgage Trust 2010-K9 REMICS, Floating Rate Note, 9/25/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 48,431                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 4.77                                                                                                                                      |                                      | FREMF Mortgage Trust 2011-K702, Floating Rate Note, 4/25/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 51,374                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 4.88                                                                                                                                      |                                      | FREMF Mortgage Trust 2011-K703, Floating Rate Note, 7/25/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 51,666                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 28,615                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association, 4.5%, 9/20/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 30,612                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 18,186                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association, 5.25%, 8/16/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 19,742                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | GS Mortgage Securities Corp. II, 3.377%, 5/10/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 51,971                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | GS Mortgage Securities Corp. II, 3.682%, 2/10/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 25,596                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 29,528                                                                                                                                                                                                    |                                                                                                                                      |                                      | JP Morgan Chase Commercial Mortgage Securities Trust 2011-C5, 4.1712%, 8/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 31,553                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | JP Morgan Chase Commercial Mortgage Securities Trust 2012-LC9, 2.84%, 12/15/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 75,610                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   | 1.69                                                                                                                                      |                                      | JP Morgan Chase Commercial Mortgage Securities Trust 2014-INN, Floating Rate Note, 6/15/29 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 100,000 |                                                                            |              |                                                                                         |                                                                                                                                |
|                                                                                                                                                                                                                     | 6,247                                                                                                                                                                                                     |                                                                                                                                      |                                      | JP Morgan Mortgage Trust 2004-S1, 5.0%, 9/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 6,396                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | JPMBB Commercial Mortgage Securities Trust 2014-C22 REMICS, 3.8012%, 9/15/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 52,109                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 80,448                                                                                                                                                                                                    |                                                                                                                                      |                                      | Morgan Stanley Capital I Trust 2007-HQ13, 5.569%, 12/15/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 81,720                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 38,929                                                                                                                                                                                                    | 3.25                                                                                                                                      |                                      | NRP Mortgage Trust 2013-1, Floating Rate Note, 7/25/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 38,719                                                                          |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 48,262                                                                                                                                                                                                    | 0.80                                                                                                                                      |                                      | Paragon Secured Finance No 1 Plc, Floating Rate Note, 11/15/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 58,259                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,234                                                                                                                                                                                                    |                                                                                                                                      |                                      | RAAC Series 2004-SP2 Trust, 6.0%, 1/25/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 25,342                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 1,536                                                                                                                                                                                                     | 1.32                                                                                                                                      |                                      | RALI Series 2002-QS16 Trust, Floating Rate Note, 10/25/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 1,528                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,711                                                                                                                                                                                                    | 2.50                                                                                                                                      |                                      | Sequoia Mortgage Trust 2013-4, Floating Rate Note, 4/27/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 24,717                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 32,347                                                                                                                                                                                                    | 3.50                                                                                                                                      |                                      | Sequoia Mortgage Trust, Floating Rate Note, 9/25/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 32,586                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $1,284,677)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 1,265,119                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | CORPORATE BONDS - 29.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Energy - 5.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Oil & Gas Drilling - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Rowan Companies, Inc., 4.75%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 91,750                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Integrated Oil & Gas - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 175,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | BP Capital Markets Plc, 1.373%, 3/3/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 196,447                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 240,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Petrobras Global Finance BV, 5.375%, 1/27/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 241,572                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 155,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Petroleos Mexicanos, 3.5%, 1/30/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 142,791                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 4.50                                                                                                                                      |                                      | Repsol International Finance BV, Floating Rate Note, 3/25/75                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 208,133                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 55,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | YPF SA, 8.5%, 3/23/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 59,606                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 848,549                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Oil & Gas Exploration & Production - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Antero Resources Corp., 5.625%, 6/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 76,500                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Canadian Natural Resources, Ltd., 6.25%, 3/15/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 40,652                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 65,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Carrizo Oil & Gas, Inc., 7.5%, 9/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 67,438                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Hilcorp Energy I LP, 5.75%, 10/1/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 100,875                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Newfield Exploration Co., 5.375%, 1/1/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 25,875                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Range Resources Corp., 5.0%, 3/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 99,250                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | WPX Energy, Inc., 7.5%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 108,500                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 519,090                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Oil & Gas Refining & Marketing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 53,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | EnLink Midstream Partners LP, 4.4%, 4/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 53,174                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 21,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Valero Energy Corp., 9.375%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 24,117                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 77,291                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Oil & Gas Storage & Transportation - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 95,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Boardwalk Pipelines LP, 4.95%, 12/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 99,162                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Crestwood Midstream Partners LP, 6.25%, 4/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 51,625                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | DCP Midstream Operating LP, 9.75%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 28,250                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 120,000                                                                                                                                                                                                   | 5.85                                                                                                                                      |                                      | DCP Midstream Operating LP, Floating Rate Note, 5/21/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 107,700                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 55,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Enbridge Energy Partners LP, 7.375%, 10/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 67,912                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Energy Transfer Equity LP, 5.875%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 106,750                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Kinder Morgan, Inc. Delaware, 5.55%, 6/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 131,755                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | MPLX LP, 4.875%, 12/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 41,937                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Plains All American Pipeline LP, 4.65%, 10/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 76,650                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 45,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Sabine Pass Liquefaction LLC, 5.0%, 3/15/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 47,194                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Spectra Energy Capital LLC, 6.2%, 4/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 26,171                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 10,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Spectra Energy Capital LLC, 6.75%, 7/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 10,575                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 60,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Sunoco Logistics Partners Operations LP, 6.1%, 2/15/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 63,824                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | The Williams Companies, Inc., 5.75%, 6/24/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 75,938                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 13,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | The Williams Companies, Inc., 7.75%, 6/15/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 15,372                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | TransCanada PipeLines, Ltd., 1.875%, 1/12/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 100,251                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Williams Partners LP, 5.1%, 9/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 14,983                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 1,066,049                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 2,602,729                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Materials - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Chemicals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 85,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | CF Industries, Inc., 3.45%, 6/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 79,688                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Fertilizers & Agricultural Chemicals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 105,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Agrium, Inc., 5.25%, 1/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 111,792                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Construction Materials - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | CRH Finance DAC, 3.125%, 4/3/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 152,680                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Paper Packaging - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 5,000                                                                                                                                                                                                     |                                                                                                                                      |                                      | International Paper Co., 6.0%, 11/15/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 5,784                                                                           |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | SIG Combibloc Holdings SCA, 7.75%, 2/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 115,938                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 121,722                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Copper - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Freeport-McMoRan, Inc., 6.75%, 2/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 36,488                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 502,370                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Capital Goods - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Aerospace & Defense - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Embraer Netherlands Finance BV, 5.4%, 2/1/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 50,294                                                                          |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | TA MFG., Ltd., 3.625%, 4/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 110,340                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 160,634                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Building Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 55,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Masco Corp., 4.375%, 4/1/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 56,464                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Masco Corp., 5.95%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 27,922                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Owens Corning, 3.4%, 8/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 33,493                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Owens Corning, 4.2%, 12/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 35,793                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Standard Industries, Inc., 5.375%, 11/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 30,938                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 184,610                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Trading Companies & Distributors - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | GATX Corp., 6.0%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 41,514                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 386,758                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Transportation - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Airlines - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 6,702                                                                                                                                                                                                     |                                                                                                                                      |                                      | Delta Air Lines 2010-2 Class A Pass Through Trust, 4.95%, 5/23/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 7,003                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Marine - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Pelabuhan Indonesia II PT, 4.25%, 5/5/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 194,424                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Railroads - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Burlington Northern Santa Fe LLC, 5.75%, 3/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 26,185                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 227,612                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Automobiles & Components - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Automobile Manufacturers - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Ford Motor Co., 4.346%, 12/8/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 35,100                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | General Motors Co., 6.6%, 4/1/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 40,313                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 75,413                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 75,413                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Consumer Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Casinos & Gaming - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | International Game Technology, 7.5%, 6/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 27,641                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Scientific Games International, Inc., 10.0%, 12/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 51,231                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 78,872                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Education Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Tufts University, 5.017%, 4/15/12                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 78,290                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 157,162                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Media - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Cable & Satellite - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Charter Communications Operating LLC, 6.384%, 10/23/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 112,755                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 150,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Sky Plc, 1.5%, 9/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 167,136                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Sky Plc, 6.1%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 26,094                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 305,985                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Movies & Entertainment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | WMG Acquisition Corp., 4.125%, 11/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 112,564                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 418,549                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Retailing - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Internet Retail - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Expedia, Inc., 5.95%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 54,978                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 54,978                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Food & Staples Retailing - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Drug Retail - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 12,552                                                                                                                                                                                                    |                                                                                                                                      |                                      | CVS Pass-Through Trust, 5.773%, 1/10/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 14,075                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 14,075                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Food, Beverage & Tobacco - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Brewers - 0.0% †                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 20,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Anheuser-Busch InBev Worldwide, Inc., 7.75%, 1/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 22,243                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Packaged Foods & Meats - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Boparan Finance Plc, 5.5%, 7/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 122,970                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 70,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Kraft Heinz Foods Co., 3.5%, 6/6/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 71,229                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Marfrig Holdings EURpe BV, 8.0%, 6/8/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 210,750                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 90,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Post Holdings, Inc., 5.0%, 8/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 87,018                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Post Holdings, Inc., 8.0%, 7/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 16,875                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 508,842                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 531,085                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Health Care Equipment & Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Health Care Facilities - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 70,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | CHS, 6.875%, 2/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 50,925                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Kindred Healthcare Inc., 6.375%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 43,438                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 94,363                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Managed Health Care - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Centene Corp., 5.625%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 31,494                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Centene Corp., 6.125%, 2/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 26,562                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 58,056                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 152,419                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Pharmaceuticals, Biotechnology & Life Sciences - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Biotechnology - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 80,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | AbbVie, Inc., 3.2%, 5/14/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 75,815                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Pharmaceuticals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Valeant Pharmaceuticals International, Inc., 4.5%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 79,902                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 155,717                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Banks - 6.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Banks - 5.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Access Bank Plc, 10.5%, 10/19/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 201,460                                                                         |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 2,100,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Asian Development Bank, 6.2%, 10/6/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 31,343                                                                          |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 1,740,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Asian Development Bank, 6.45%, 8/8/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 26,207                                                                          |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 2.62                                                                                                                                      |                                      | Barclays Plc, Floating Rate Note, 11/11/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 215,029                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 150,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | BNP Paribas SA, 2.375%, 2/17/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 161,486                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | BPCE SA, 2.875%, 4/22/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 217,936                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 156,000                                                                                                                                                                                                   | 6.25                                                                                                                                      |                                      | Citigroup, Inc., Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 164,775                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    | 5.90                                                                                                                                      |                                      | Citigroup, Inc., Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 77,588                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Cooperatieve Rabobank UA, 3.875%, 2/8/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 78,703                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   | 8.12                                                                                                                                      |                                      | Credit Agricole SA, Floating Rate Note, (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 212,620                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 8.88                                                                                                                                      |                                      | Erste Group Bank AG, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 236,735                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 3.00                                                                                                                                      |                                      | ING Bank NV, Floating Rate Note, 4/11/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 225,558                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 6.38                                                                                                                                      |                                      | Lloyds Banking Group Plc, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 225,630                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 112,452                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   | 8.00                                                                                                                                      |                                      | Royal Bank of Scotland Group Plc, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 194,026                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 4.50                                                                                                                                      |                                      | Scotiabank Peru SAA, Floating Rate Note, 12/13/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 50,510                                                                          |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | UBS Group Funding Jersey, Ltd., 1.75%, 11/16/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 224,128                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 2,656,186                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Supranational - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 700,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Inter-American Development Bank, 6.0%, 9/5/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 10,361                                                                          |              |                                                                                         |                                                                                                                                |                    |
| NZD                                                                                                                                                                                                                      | 505,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | International Bank for Reconstruction & Development, 3.5%, 1/22/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 372,125                                                                         |              |                                                                                         |                                                                                                                                |                    |
| NZD                                                                                                                                                                                                                      | 45,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | International Bank for Reconstruction & Development, 4.625%, 10/6/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 34,526                                                                          |              |                                                                                         |                                                                                                                                |                    |
| AUD                                                                                                                                                                                                                      | 185,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | International Bank for Reconstruction & Development, 5.75%, 10/21/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 153,066                                                                         |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 1,350,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | International Bank for Reconstruction & Development, 5.75%, 10/28/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 19,998                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 590,076                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Thrifts & Mortgage Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Nationwide Building Society, 3.0%, 5/6/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 162,650                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 162,650                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 3,408,912                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Financials - 4.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Other Diversified Financial Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 24,168                                                                          |              |                                                                                         |                                                                                                                                |                    |
| NZD                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | JPMorgan Chase & Co., 4.25%, 11/2/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 74,300                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 115,000                                                                                                                                                                                                   | 6.75                                                                                                                                      |                                      | JPMorgan Chase & Co., Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 125,857                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 224,325                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Supranational - 2.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| IDR                                                                                                                                                                                                                      | 3,760,000,000                                                                                                                                                                                             |                                                                                                                                      |                                      | European Bank for Reconstruction & Development, 7.375%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 281,035                                                                         |              |                                                                                         |                                                                                                                                |                    |
| IDR                                                                                                                                                                                                                      | 3,020,000,000                                                                                                                                                                                             |                                                                                                                                      |                                      | European Investment Bank, 7.2%, 7/9/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 224,102                                                                         |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 42,420,000                                                                                                                                                                                                |                                                                                                                                      |                                      | International Finance Corp., 6.3%, 11/25/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 630,455                                                                         |              |                                                                                         |                                                                                                                                |                    |
| INR                                                                                                                                                                                                                      | 20,750,000                                                                                                                                                                                                |                                                                                                                                      |                                      | International Finance Corp., 8.25%, 6/10/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 331,444                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 1,467,036                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Specialized Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 56,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 61,397                                                                          |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Holcim Finance Luxembourg SA, 2.25%, 5/26/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 111,289                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 172,686                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Consumer Finance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 64,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Ally Financial, Inc., 5.75%, 11/20/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 64,960                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 64,960                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Asset Management & Custody Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | KKR Group Finance Co. II LLC, 5.5%, 2/1/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 101,911                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Investment Banking & Brokerage - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Morgan Stanley, 4.1%, 5/22/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 77,055                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Morgan Stanley, 4.875%, 11/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 53,617                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 130,672                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified Capital Markets - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 7.75                                                                                                                                      |                                      | Intesa Sanpaolo S.p.A., Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 214,062                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 10,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Macquarie Group, Ltd., 6.0%, 1/14/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 10,852                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 224,914                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 2,386,504                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Insurance - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Insurance Brokers - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Brown & Brown, Inc., 4.2%, 9/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 75,379                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Life & Health Insurance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 200,000                                                                                                                                                                                                   | 4.75                                                                                                                                      |                                      | Credit Agricole Assurances SA, Floating Rate Note, 9/27/48                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 219,708                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 45,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Protective Life Corp., 7.375%, 10/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 50,888                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   | 5.88                                                                                                                                      |                                      | Prudential Financial, Inc., Floating Rate Note, 9/15/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 106,750                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 377,346                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Multi-line Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 60,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | AXA SA, 8.6%, 12/15/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 83,100                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Property & Casualty Insurance - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Delphi Financial Group, Inc., 7.875%, 1/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 39,643                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 110,000                                                                                                                                                                                                   | 6.50                                                                                                                                      |                                      | The Allstate Corp., Floating Rate Note, 5/15/57                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 125,675                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | The Hanover Insurance Group, Inc., 4.5%, 4/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 30,551                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 195,869                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Reinsurance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Gullane Segregated Account (Artex SAC Ltd.), Variable Rate Note 11/30/20 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 2,850                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Gullane Segregated Account (Artex SAC Ltd.), Variable Rate Note 11/30/21 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 30,132                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Lorenz Re, Ltd., Variable Rate Notes, 3/31/18 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 174                                                                             |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Lorenz Re, Ltd., Variable Rate Notes, 3/31/19 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 31,689                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Pangaea Re, Series 2015-2, Principal at Risk Notes, 11/30/19 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 2,760                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Pangaea Re., Variable Rate Notes, 11/30/21 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 50,490                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Pangaea Re., Variable Rate Notes, 2/1/20 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 3,873                                                                           |              |                                                                                         |                                                                                                                                |                    |
| JPY                                                                                                                                                                                                                      | 2,513,320                                                                                                                                                                                                 |                                                                                                                                      |                                      | Tralee Segregated Account (Artex), Variable Rate Note 7/15/17 (e) (f)                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 22,187                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 144,155                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 875,849                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Software & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Home Entertainment Software - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Activision Blizzard, Inc., 6.125%, 9/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 54,375                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 54,375                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Technology Hardware & Equipment - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Technology Hardware, Storage & Peripherals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | NCR Corp., 6.375%, 12/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 79,688                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Electronic Manufacturing Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Flex, Ltd., 4.625%, 2/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 104,862                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 184,550                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Semiconductors & Semiconductor Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Entegris, Inc., 6.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 26,125                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Semiconductors - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Broadcom Corp., 3.625%, 1/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 15,019                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 55,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Micron Technology, Inc., 5.25%, 8/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 55,138                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 70,157                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 96,282                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Telecommunication Services - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Integrated Telecommunication Services - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | AT&T, Inc., 3.95%, 1/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 39,552                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | AT&T, Inc., 4.75%, 5/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 45,671                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | AT&T, Inc., 5.25%, 3/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 74,647                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | CenturyLink, Inc., 5.8%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 77,133                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Frontier Communications Corp., 7.125%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 35,800                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 19,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Frontier Communications Corp., 8.5%, 4/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 20,246                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | GCI, Inc., 6.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 51,500                                                                          |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Koninklijke KPN NV, 5.0%, 11/18/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 146,757                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 125,000                                                                                                                                                                                                   | 5.00                                                                                                                                      |                                      | Orange SA, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 142,823                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Unison Ground Lease Funding LLC, 2.981%, 3/16/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 24,467                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 65,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Verizon Communications, Inc., 6.55%, 9/15/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 80,170                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 738,766                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Wireless Telecommunication Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Crown Castle Towers LLC, 4.883%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 31,961                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Digicel, Ltd., 6.0%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 186,460                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | MTN Mauritius Investment, Ltd., 6.5%, 10/13/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 202,010                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | SBA Tower Trust, 2.877%, 7/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 49,498                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Sprint Corp., 7.25%, 9/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 53,575                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 523,504                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 1,262,270                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Utilities - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Electric Utilities - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | EDP Finance BV, 1.875%, 9/29/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 107,568                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Electricite de France SA, 6.0%, 1/22/14 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 99,640                                                                          |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   | 4.25                                                                                                                                      |                                      | Electricite de France SA, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 109,881                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   | 8.13                                                                                                                                      |                                      | Enel S.p.A., Floating Rate Note, 9/24/73 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 228,000                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | innogy Finance BV, 5.625%, 12/6/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 114,017                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 70,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Public Service Co. of New Mexico, 7.95%, 5/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 75,333                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 6.25                                                                                                                                      |                                      | Southern California Edison Co., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 55,075                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 165,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Talen Energy Supply LLC, 6.5%, 6/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 133,238                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 10,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | West Penn Power Co., 5.95%, 12/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 10,365                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 933,117                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Gas Utilities - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 84,856                                                                                                                                                                                                    |                                                                                                                                      |                                      | Nakilat, Inc., 6.267%, 12/31/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 97,160                                                                          |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | National Grid Gas Finance Plc, 2.125%, 9/22/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 150,451                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 247,611                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Independent Power Producers & Energy Traders - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 125,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | NRG Energy, Inc., 7.25%, 5/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 130,781                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 1,311,509                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Real Estate - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Diversified REIT - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   | 3.75                                                                                                                                      |                                      | ATF Netherlands BV, Floating Rate Note, (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 103,386                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Office REIT - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Alexandria Real Estate Equities, Inc., 3.9%, 6/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 25,446                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 42,336                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 35,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Highwoods Realty LP, 3.625%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 34,726                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 102,508                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Residential REIT - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | UDR, Inc., 4.0%, 10/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 51,072                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Specialized REIT - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Communications Sales & Leasing, Inc., 6.0%, 4/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 105,000                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 361,966                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $15,023,641)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 15,221,084                                                                      |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 31.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 49,246                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.0%, 10/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 48,783                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 69,407                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.0%, 11/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 68,755                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 28,247                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.0%, 5/1/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 29,049                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 37,402                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.0%, 5/1/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 37,213                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 24,508                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.0%, 9/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 24,277                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 26,318                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 1/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 26,914                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 40,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 1/1/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 40,963                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 1/1/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 25,565                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 115,280                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 10/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 118,024                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 74,134                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 12/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 75,810                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 37,880                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 2/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 39,459                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 535,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 2/13/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 546,703                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,725                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 4/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 77,438                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 180,805                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 5/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 185,569                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,432                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 6/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 26,040                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 51,401                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 8/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 52,564                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 34,285                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 8/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 35,061                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 157,358                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 9/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 161,631                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 39,176                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 3.5%, 9/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 40,062                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 45,544                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 10/1/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 48,293                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 119,309                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 11/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 125,199                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 20,214                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 2/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 21,281                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 22,476                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 5/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 23,589                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,617                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 6/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 53,124                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 24,299                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.0%, 8/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 25,502                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 135,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Fannie Mae, 4.5%, 2/13/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 145,141                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 18,300                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.5%, 4/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 19,710                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 11,828                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 4.5%, 5/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 12,805                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 19,655                                                                                                                                                                                                    |                                                                                                                                      |                                      | Fannie Mae, 5.0%, 6/1/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 21,452                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 215,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.0%, 2/13/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 212,632                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 19,653                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.0%, 5/1/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 19,545                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 24,685                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.0%, 9/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 24,432                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 127,936                                                                                                                                                                                                   |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.5%, 11/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 130,916                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 131,077                                                                                                                                                                                                   |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.5%, 12/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 133,976                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.5%, 2/13/17 (TBA)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 51,067                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 21,939                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.5%, 3/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 22,424                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 38,741                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 3.5%, 8/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 39,730                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 134,145                                                                                                                                                                                                   |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.0%, 1/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 140,803                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,345                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.0%, 12/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 16,107                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 26,779                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.0%, 3/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 28,108                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 233,246                                                                                                                                                                                                   |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.0%, 5/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 244,823                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 24,240                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.0%, 6/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 25,443                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,331                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 4.5%, 6/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 54,292                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 34,051                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 5.0%, 10/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 37,039                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 29,153                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 5.0%, 9/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 31,701                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 21,453                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 6.0%, 8/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 24,417                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 18,645                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 6.5%, 1/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 21,466                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 43,162                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal Home Loan Mortgage Corp., 6.5%, 4/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 48,653                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 28,268                                                                                                                                                                                                    |                                                                                                                                      |                                      | Federal National Mortgage Association, 3.5%, 7/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 28,907                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 127,849                                                                                                                                                                                                   |                                                                                                                                      |                                      | Government National Mortgage Association I, 3.5%, 1/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 132,518                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 79,433                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association I, 4.0%, 6/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 83,994                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 34,780                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association I, 4.5%, 1/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 37,890                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 26,853                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association I, 4.5%, 7/15/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 29,009                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 29,313                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association I, 4.5%, 9/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 31,812                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 39,299                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association II, 3.0%, 9/20/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 39,680                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 41,710                                                                                                                                                                                                    |                                                                                                                                      |                                      | Government National Mortgage Association II, 4.5%, 9/20/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 45,146                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 275,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | U.S. Treasury Bills, 2/2/17 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 274,996                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 420,221                                                                                                                                                                                                   |                                                                                                                                      |                                      | U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 400,762                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 229,187                                                                                                                                                                                                   |                                                                                                                                      |                                      | U.S. Treasury Inflation Indexed Bonds, 1.0%, 2/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 233,379                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 1,875,000                                                                                                                                                                                                 | 0.67                                                                                                                                      |                                      | U.S. Treasury Note, Floating Rate Note, 10/31/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 1,877,124                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 1,650,000                                                                                                                                                                                                 | 0.58                                                                                                                                      |                                      | U.S. Treasury Note, Floating Rate Note, 7/31/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 1,650,467                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 75,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | U.S. Treasury Notes, 1.125%, 7/31/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 72,639                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 900,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | U.S. Treasury Notes, 1.5%, 8/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 827,438                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 700,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | U.S. Treasury Notes, 1.625%, 5/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 652,340                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 1,050,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | U.S. Treasury Notes, 2.0%, 11/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 1,009,026                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 2,625,000                                                                                                                                                                                                 | 0.78                                                                                                                                      |                                      | United States Treasury Floating Rate Note, Floating Rate Note, 1/31/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 2,631,308                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 2,625,000                                                                                                                                                                                                 | 0.70                                                                                                                                      |                                      | United States Treasury Floating Rate Note, Floating Rate Note, 4/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 2,629,266                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $16,104,049)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 16,151,251                                                                      |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | FOREIGN GOVERNMENT BONDS - 33.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 408,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Africa Finance Corp., 4.375%, 4/29/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 418,122                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Argentine Republic Government International Bond, 6.875%, 1/26/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 99,000                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Argentine Republic Government International Bond, 7.5%, 4/22/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 313,200                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Austria Government Bond, 4.15%, 3/15/37 (144A) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 81,782                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 428,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Brazil Minas SPE via State of Minas Gerais, 5.333%, 2/15/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 420,510                                                                         |              |                                                                                         |                                                                                                                                |                    |
| BRL                                                                                                                                                                                                                      | 514,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Brazilian Government International Bond, 10.25%, 1/10/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 162,054                                                                         |              |                                                                                         |                                                                                                                                |                    |
| CAD                                                                                                                                                                                                                      | 1,500,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Canadian Government Bond, 1.75%, 9/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 1,178,590                                                                       |              |                                                                                         |                                                                                                                                |                    |
| CAD                                                                                                                                                                                                                      | 1,500,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Canadian Government Bond, 2.25%, 6/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 1,204,319                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | City of Buenos Aires Argentina, 7.5%, 6/1/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 254,375                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Ecuador Government International Bond, 10.5%, 3/24/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 218,500                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 144,737                                                                                                                                                                                                   | 6.63                                                                                                                                      |                                      | EP PetroEcuador via Noble Sovereign Funding I, Ltd., Floating Rate Note, 9/24/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 147,588                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 400,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Gabon Government International Bond, 6.375%, 12/12/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 367,204                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GHS                                                                                                                                                                                                                      | 798,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Ghana Government Bond, 24.5%, 4/22/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 194,401                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GHS                                                                                                                                                                                                                      | 314,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Ghana Government Bond, 24.75%, 7/19/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 84,368                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 315,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Honduras Government International Bond, 6.25%, 1/19/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 312,795                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 1,000,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Italy Buoni Poliennali Del Tesoro, 4.75%, 9/1/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 1,320,079                                                                       |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 422,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Ivory Coast Government International Bond, 5.375%, 7/23/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 399,275                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 415,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Ivory Coast Government International Bond, 6.375%, 3/3/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 403,762                                                                         |              |                                                                                         |                                                                                                                                |                    |
| JPY                                                                                                                                                                                                                      | 120,000,000                                                                                                                                                                                               |                                                                                                                                      |                                      | Japan Government Ten Year Bond, 0.1%, 9/20/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 1,065,549                                                                       |              |                                                                                         |                                                                                                                                |                    |
| JPY                                                                                                                                                                                                                      | 50,000,000                                                                                                                                                                                                |                                                                                                                                      |                                      | Japan Government Ten Year Bond, 1.0%, 12/20/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 466,735                                                                         |              |                                                                                         |                                                                                                                                |                    |
| JPY                                                                                                                                                                                                                      | 50,000,000                                                                                                                                                                                                |                                                                                                                                      |                                      | Japan Government Twenty Year Bond, 1.5%, 3/20/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 459,093                                                                         |              |                                                                                         |                                                                                                                                |                    |
| MXN                                                                                                                                                                                                                      | 3,830,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Mexican Bonos, 4.75%, 6/14/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 179,270                                                                         |              |                                                                                         |                                                                                                                                |                    |
| MXN                                                                                                                                                                                                                      | 2,400,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Mexican Bonos, 6.5%, 6/9/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 111,629                                                                         |              |                                                                                         |                                                                                                                                |                    |
| MXN                                                                                                                                                                                                                      | 300,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Mexican Bonos, 7.5%, 6/3/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 14,314                                                                          |              |                                                                                         |                                                                                                                                |                    |
| MXN                                                                                                                                                                                                                      | 3,812,359                                                                                                                                                                                                 |                                                                                                                                      |                                      | Mexican Udibonos, 2.0%, 6/9/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 175,543                                                                         |              |                                                                                         |                                                                                                                                |                    |
| MXN                                                                                                                                                                                                                      | 5,059,161                                                                                                                                                                                                 |                                                                                                                                      |                                      | Mexican Udibonos, 3.5%, 12/14/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 247,634                                                                         |              |                                                                                         |                                                                                                                                |                    |
| EUR                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Mexico Government International Bond, 4.0%, 3/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 86,941                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 419,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Namibia International Bonds, 5.25%, 10/29/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 415,682                                                                         |              |                                                                                         |                                                                                                                                |                    |
| NZD                                                                                                                                                                                                                      | 905,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | New Zealand Government Bond, 4.5%, 4/15/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 727,916                                                                         |              |                                                                                         |                                                                                                                                |                    |
| NZD                                                                                                                                                                                                                      | 1,250,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | New Zealand Government Bond, 5.5%, 4/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 1,045,677                                                                       |              |                                                                                         |                                                                                                                                |                    |
| NOK                                                                                                                                                                                                                      | 4,000,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Norway Government Bond, 2.0%, 5/24/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 503,394                                                                         |              |                                                                                         |                                                                                                                                |                    |
| NOK                                                                                                                                                                                                                      | 5,500,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Norway Government Bond, 4.5%, 5/22/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 725,161                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Provincia de Buenos Aires Argentina, 9.125%, 3/16/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 327,000                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Provincia de Buenos Aires Argentina, 9.95%, 6/9/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 336,750                                                                         |              |                                                                                         |                                                                                                                                |                    |
| AUD                                                                                                                                                                                                                      | 90,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Queensland Treasury Corp., 5.5%, 6/21/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 77,031                                                                          |              |                                                                                         |                                                                                                                                |                    |
| AUD                                                                                                                                                                                                                      | 100,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Queensland Treasury Corp., 5.75%, 7/22/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 90,517                                                                          |              |                                                                                         |                                                                                                                                |                    |
| RON                                                                                                                                                                                                                      | 750,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Romania Government Bond, 5.85%, 4/26/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 203,707                                                                         |              |                                                                                         |                                                                                                                                |                    |
| RON                                                                                                                                                                                                                      | 1,140,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Romania Government Bond, 5.95%, 6/11/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 308,213                                                                         |              |                                                                                         |                                                                                                                                |                    |
| SEK                                                                                                                                                                                                                      | 2,300,000                                                                                                                                                                                                 |                                                                                                                                      |                                      | Sweden Government Bond, 2.5%, 5/12/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 305,013                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | Turkey Government International Bond, 6.0%, 3/25/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 201,641                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 435,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | United Kingdom Gilt, 1.75%, 7/22/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 567,225                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 450,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | United Kingdom Gilt, 3.5%, 1/22/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 740,220                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 150,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | United Kingdom Gilt, 4.25%, 9/7/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 265,013                                                                         |              |                                                                                         |                                                                                                                                |                    |
| GBP                                                                                                                                                                                                                      | 150,000                                                                                                                                                                                                   |                                                                                                                                      |                                      | United Kingdom Gilt, 8.75%, 8/25/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 197,967                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $18,291,631)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 17,424,759                                                                      |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | MUNICIPAL BONDS - 1.3% (g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Municipal General - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 70,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | JobsOhio Beverage System, 3.985%, 1/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 74,128                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 20,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | JobsOhio Beverage System, 4.532%, 1/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 21,654                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Virginia Commonwealth Transportation Board, 4.0%, 5/15/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 31,809                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 30,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Virginia Commonwealth Transportation Board, 4.0%, 5/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 31,668                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 159,259                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Higher Municipal Education - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Baylor University, 4.313%, 3/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 25,406                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | California Educational Facilities Authority, 5.0%, 6/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 32,332                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Massachusetts Development Finance Agency, Harvard University-Series A, 5.0%, 7/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 19,084                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 15,000                                                                                                                                                                                                    | 0.45                                                                                                                                      |                                      | Massachusetts Health & Educational Facilities Authority, Floating Rate Note, 11/1/49                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 15,000                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Massachusetts Institute of Technology, 5.6%, 7/1/11                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 30,220                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | University of Virginia, Green Bond Series A, 5.0%, 4/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 56,960                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 179,002                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Municipal Medical - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 155,000                                                                                                                                                                                                   | 0.62                                                                                                                                      |                                      | Harris County Health Facilities Development Corp., Floating Rate Note, 12/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 155,000                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Municipal School District - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Frisco Independent School District, 4.0%, 8/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 25,710                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 25,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | Frisco Independent School District, 4.0%, 8/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 25,622                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 51,332                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Municipal Obligation - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | State of Texas, 4.0%, 10/1/44 (h)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 51,666                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    |                                                                                                                                      |                                      | State of Washington, 5.0%, 7/1/30 (h)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 57,684                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 109,350                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $644,733)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 653,943                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | SENIOR FLOATING RATE LOAN INTERESTS - 0.8% **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Automobiles & Components - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Auto Parts & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 5.75                                                                                                                                      |                                      | Electrical Components International, Inc., Loan, 4/17/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 50,344                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 49,475                                                                                                                                                                                                    | 3.75                                                                                                                                      |                                      | MPG Holdco I, Inc., Tranche B-1 Term Loan (2015), 10/20/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 49,671                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 100,015                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 100,015                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Consumer Durables & Apparel - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Footwear - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,000                                                                                                                                                                                                    | 3.27                                                                                                                                      |                                      | Regal Cinemas Corp., Refinancing Term Loan, 4/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 50,487                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 50,487                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Health Care Equipment & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Health Care Facilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 49,493                                                                                                                                                                                                    | 4.31                                                                                                                                      |                                      | Kindred Healthcare, Inc., Tranche B Loan (First Lien), 4/10/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 49,699                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 49,699                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Pharmaceuticals, Biotechnology & Life Sciences - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Pharmaceuticals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 100,000                                                                                                                                                                                                   | 3.81                                                                                                                                      |                                      | Endo Luxembourg Finance I Co Sarl, 2015 Incremental Term B Loan, 6/24/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 99,972                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 99,972                                                                          |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Real Estate - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Retail REIT - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 99,747                                                                                                                                                                                                    | 4.28                                                                                                                                      |                                      | DTZ US Borrower LLC, 2015-1 Additional Term Loan (First Lien), 11/4/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 100,391                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 100,391                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $395,244)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 400,564                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | Shares                                                                                                                                                                                                    |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | CLOSED-END FUNDS - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Insurance - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Property & Casualty Insurance - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | 50,528                                                                                                                                                                                                    |                                                                                                                                      |                                      | Pioneer ILS Interval Fund (i)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 519,937                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 519,937                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL MUTUAL FUNDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $533,922)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 519,937                                                                         |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL INVESTMENT IN SECURITIES - 100.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | (Cost $52,815,191) (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 52,180,715                                                                      |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | OTHER ASSETS & LIABILITIES - (0.1)%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | (59,866)                                                                        |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 52,120,849                                                                      |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | †                                                                                                                                                                                                   |                                                                                                                                      |                                      | Amount rounds to less than 0.1%.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (TBA)                                                                                                                                                                                                     |                                                                                                                                      |                                      | To be announced securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (Perpetual)                                                                                                                                                                                               |                                                                                                                                      |                                      | Security with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (Step)                                                                                                                                                                                                    |                                                                                                                                      |                                      | Bond issued with an initial coupon rate which converts to a higher rate at a later date.                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | REIT                                                                                                                                                                                                      |                                                                                                                                      |                                      | Real Estate Investment Trust.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | REMICS                                                                                                                                                                                                    |                                                                                                                                      |                                      | Real Estate Mortgage Investment Conduits.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (144A)                                                                                                                                                                                                    |                                                                                                                                      |                                      | Security is exempt from registration under Rule 144A of the Securities Act of 1933. Suchsecurities may be resold normally to qualified institutional buyers in a transaction exemptfrom registration. At January 31, 2017, the value of these securities amounted to$8,777,678 or 16.8% of total net assets.                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | **                                                                                                                                                                                                        |                                                                                                                                      |                                      | Senior floating rate loan interests in which the Fund invests generally pay interest at ratesthat are periodically redetermined by reference to a base lending rate plus a premium.These base lending rates are generally (i) the lending rate offered by one or more majorEuropean banks, such as LIBOR (London InterBank Offered Rate), (ii) the prime rate offeredby one or more major U.S. banks, (iii) the certificate of deposit or (iv) other base lendingrates used by commercial lenders. The rate shown is the coupon rate at period end. |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (a)                                                                                                                                                                                                       |                                                                                                                                      |                                      | At January 31, 2017, the net unrealized depreciation on investments based on                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | cost for federal income tax purposes of $52,829,155 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Aggregate gross unrealized appreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       |             659,870 |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Aggregate gross unrealized depreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |         (1,308,310)                     |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Net unrealized depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       |            (648,440)     |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (b)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Debt obligation with a variable interest rate. Rate shown is rate at period end.                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (c)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Security issued with a zero coupon. Income is earned through accretion of discount.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (d)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Security represents the interest-only portion payments on a pool of underlying mortgages or mortgage-backed securities.                                                                                                                                                                                                                                                                                                                                                                                                                             |    |                                                                            |              |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (e)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Structured reinsurance investment. At January 31, 2017, the value of these securitiesamounted to $144,155 or 0.3% of total net assets.                                                                                                                                                                                                                                                                                                                                                                                                              |    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (f)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Rate to be determined.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (g)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Consists of Revenue Bonds unless otherwise indicated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (h)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Represents a General Obligation Bond                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (i)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Affiliated funds managed by Pioneer Investment Management, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | (j)                                                                                                                                                                                                       |                                                                                                                                      |                                      | Distributions of investments by country of domicile (excluding temporary cash investments) as a percentage of total investment in securities, is as follows:                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | United States                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 48.1%                                                                           |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | New Zealand                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 3.4%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Canada                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 5.2%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | United Kingdom                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 6.5%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Argentina                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 2.7%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Mexico                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 1.8%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Italy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 3.4%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Supranational                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 4.9%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Japan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 3.8%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Netherlands                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 2.8%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | France                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 2.4%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Ivory Coast                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 1.5%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Brazil                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 1.1%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Romania                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 1.0%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Norway                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 2.4%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Other (individually less than 1%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 9.0%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 100%                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      | Principal amounts are denominated in U.S. Dollars unless otherwise noted:                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | AUD                                                                                                                                                                                                       |                                                                                                                                      |                                      | Austrialian Dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | BRL                                                                                                                                                                                                       |                                                                                                                                      |                                      | Brazilian Real                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | CAD                                                                                                                                                                                                       |                                                                                                                                      |                                      | Canadian Dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | EURO                                                                                                                                                                                                      |                                                                                                                                      |                                      | Euro                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | GBP                                                                                                                                                                                                       |                                                                                                                                      |                                      | British Pound Sterling                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | GHS                                                                                                                                                                                                       |                                                                                                                                      |                                      | Ghanian Cedis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | INR                                                                                                                                                                                                       |                                                                                                                                      |                                      | Indian Rupee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | IDR                                                                                                                                                                                                       |                                                                                                                                      |                                      | Indonesian Rupiah                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | JPY                                                                                                                                                                                                       |                                                                                                                                      |                                      | Japanese Yen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | MXN                                                                                                                                                                                                       |                                                                                                                                      |                                      | Mexican Peso                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | NOK                                                                                                                                                                                                       |                                                                                                                                      |                                      | Norwegian Krone                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | NZD                                                                                                                                                                                                       |                                                                                                                                      |                                      | New Zealand Dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | RON                                                                                                                                                                                                       |                                                                                                                                      |                                      | Romanian New Leu                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | SEK                                                                                                                                                                                                       |                                                                                                                                      |                                      | Swedish Krona                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENT - SELL PROTECTION                                                                                                                                         |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | Notional Principal ($) (1)                                                                                                                                                                                | Exchange                                                                                                                                  |                                      | Obligation Entity/Index                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | Coupon                                                                          | Credit Rating (2) | Expiration Date                                                                              | Premiums Paid                                                                                                                       | Unrealized Appreciation |
|                                                                                                                                                                                                                     |                343,332                                                                                                         | Chicago Mercantile Exchange                                                                                                               | Markit CDX North America High Yield Index |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 5.00%   | BBB+                                                                            | 12/20/19          |  $             18,632  |  $                 7,391                  |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | CREDIT DEFAULT SWAP AGREEMENT - SELL PROTECTION                                                                                                                                                           |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     | Notional Principal ($) (1)                                                                                                                                                                                | Counterparty                                                                                                                              | Obligation Entity/Index                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Coupon  | Credit Rating (2)                                                               | Expiration Date   | Premiums (Received)                                                                          | Unrealized (Depreciation)                                                                                                           |
|                                                                                                                                                                                                                     |                  50,000                                                                                              | Morgan Stanley Capital Services LLC                                                                                                       | Diamond Offshore Drill Inc.               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.00%   | BB-                                                                             | 12/20/19          |  $             (1,873) |  $                    (42) |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
|                                                                                                                                                                                                                     |                                  (1) | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event. |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                     |                                  (2) | Based on Standard & Poor's rating of the issuer or the weighted average of all the underlying securities in the index.                |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| Various inputs are used in determining the value of the Fund's investments.  These inputs are summarized in the three broad levels listed below.                                                               |                                                                                                                                                                                                      |                                                                                                                                      |                                      |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| Level 1 – quoted prices in active markets for identical securities                                                                                                                                                 |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |
| Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)  See Notes to Financial Statements — Note 1A. |
| Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)  See Notes to Financial Statements — Note 1A.                            |                                                                                                                                                                                                      |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |
| The following is a summary of the inputs used as of January 31, 2017, in valuing the Fund’s assets:                                                                                                                |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |
|                                                                                                                                                                                                                     |                                                                                                                                                                                                      |                                                                                                                                      |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |                                                                            |              |                                                                                         |                                                                                                                                |                    |

|                                                                                              |   |   |                                                          |                                                                                                                                                                          | Level 1         |    |   | Level 2 |   |       | Level 3 |   |   | Total   |   |
|---------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|---------|--------|---------|--------|------------|---------|--------|--------|---------|--------|
|                                                                                              |   |   | Convertible Corporate Bonds                                   |                                                                                                                                                                          | $               | -       |   |    | $      | 164,362    |    |   | $      | -       |   |   | $ | 164,362 |   |
|                                                                                              |   |   | Preferred Stocks                                              |                                                                                                                                                                          |            | 5,937   |   |    |   | -          |    |   |   | -       |   |   |   | 5,937 |   |
|                                                                                              |   |   | Convertible Preferred Stock                                   |                                                                                                                                                                          |            | 148,543 |   |    |   | -          |    |   |   | -       |   |   |   | 148,543 |   |
|                                                                                              |   |   | Asset Backed Securities                                       |                                                                                                                                                                          |            | -       |   |    |   | 225,216    |    |   |   | -       |   |   |   | 225,216 |   |
|                                                                                              |   |   | Collateralized Mortgage Obligations                           |                                                                                                                                                                          |            | -       |   |    |   | 1,265,119  |    |   |   | -       |   |   |   | 1,265,119 |   |
|                                                                                              |   |   | Corporate Bonds                                               |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   |   Insurance                                         |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   |     Reinsurance                           |                                                                                                                                                                          |            | -       |   |    |   | -          |    |   |   | 144,155 |   |   |   | 144,155 |   |
|                                                                                              |   |   |   All Other Corporate Bonds                         |                                                                                                                                                                          |            | -       |   |    |   | 15,076,929 |    |   |   | -       |   |   |   | 15,076,929 |   |
|                                                                                              |   |   | U.S. Government and Agency Obligations                        |                                                                                                                                                                          |            | -       |   |    |   | 16,151,251 |    |   |   | -       |   |   |   | 16,151,251 |   |
|                                                                                              |   |   | Foreign Government Bonds                                      |                                                                                                                                                                          |            | -       |   |    |   | 17,424,759 |    |   |   | -       |   |   |   | 17,424,759 |   |
|                                                                                              |   |   | Municipal Bonds                                               |                                                                                                                                                                          |            | -       |   |    |   | 653,943    |    |   |   | -       |   |   |   | 653,943 |   |
|                                                                                              |   |   | Senior Floating Rate Loan Interests                           |                                                                                                                                                                          |            | -       |   |    |   | 400,564    |    |   |   | -       |   |   |   | 400,564 |   |
|                                                                                              |   |   | Closed-End Fund                                               |                                                                                                                                                                          |            | -       |   |    |   | 519,937    |    |   |   | -       |   |   |   | 519,937 |   |
|                                                                                              |   |   | Total                                                         |                                                                                                                                                                          | $               | 154,480 |   |    | $      | 51,882,080 |    |   | $      | 144,155 |   |   | $ | 52,180,715 |   |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Other Financial Instruments                                   |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Unrealized appreciation on futures contracts                  |                                                                                                                                                                          | $               | 4,164   |   |    | $      | -          |    |   | $      | -       |   |   | $ | 4,164 |   |
|                                                                                              |   |   | Unrealized depreciation on futures contracts                  |                                                                                                                                                                          |            | (50,583 | )      |    |   | -          |    |   |   | -       |   |   |   | (50,583 | ) |
|                                                                                              |   |   | Unrealized appreciation on forward foreign currency contracts |                                                                                                                                                                          |            | -       |   |    |   | 150,717    |    |   |   | -       |   |   |   | 150,717 |   |
|                                                                                              |   |   | Unrealized depreciation on forward foreign currency contracts |                                                                                                                                                                          |            | -       |   |    |   | (223,581   | )       |   |   | -       |   |   |   | (223,581 | ) |
|                                                                                              |   |   | Unrealized appreciation on centrally cleared swap contract    |                                                                                                                                                                          |            | -       |   |    |   | 7,391      |    |   |   | -       |   |   |   | 7,391 |   |
|                                                                                              |   |   | Unrealized depreciation on swap contract                      |                                                                                                                                                                          |            | -       |   |    |   | (42        | )       |   |   | -       |   |   |   | (42 | ) |
|                                                                                              |   |   | Total Other Financial Instruments                             |                                                                                                                                                                          | $               | (46,419 | )      |    | $      | (65,515    | )       |   | $      | -       |   |   | $ | (111,934 | ) |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
| The following is a reconciliation of assets valued using significant observable inputs (Level 3): |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          | Corporate Bonds |    |   |    |   |       |    |   |   |    |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Balance as of 10/31/16                                        |                                                                                                                                                                          | $               | 126,790 |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Realized gain (loss)1                                         |                                                                                                                                                                          |            | -       |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Change in unrealized appreciation (depreciation)2             |                                                                                                                                                                          |            | (2,556  | )      |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Purchases                                                     |                                                                                                                                                                          |            | 80,000  |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Sales                                                         |                                                                                                                                                                          |            | (60,079 | )      |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Transfers in to Level 3*                                      |                                                                                                                                                                          |            | -       |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Transfers out of Level 3*                                     |                                                                                                                                                                          |            | -       |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Balance as of 1/31/17                                         |                                                                                                                                                                          | $               | 144,155 |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   | 1      |                                                          | Realized gain (loss) on these securities is included in the net realized gain (loss) from investments in the Statement of Operations.                                         |            |    |   |    |   |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   | 2      |                                                          | Unrealized appreciation (depreciation) on these securities is included in the change in unrealized appreciation (depreciation) on investments in the Statement of Operations. |            |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   | *      |                                                          | Transfers are calculated on the beginning of period values.  During the period ended                                                                                |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                                          | January 31, 2017, there were no transfers between Levels 1, 2 and 3.                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                                          |                                                                                                                                                                          |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                                          | Net change in unrealized appreciation (depreciation) of investments                                                                                                           |            |    |   |    |   |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                                          | still held as of 1/31/17                                                                                                                                                      |            | $       | (2,095 | )       |   |       |    |   |   |    |   |   |   |   |   |   |

|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pioneer Global High Yield Fund                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|-------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|-------------------|-----------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------|
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Schedule of Investments 1/31/17 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | Principal Amount ($)                                                                                                                      | FloatingRate (b)            |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              | Value           |                                                                                                    |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | CONVERTIBLE CORPORATE BONDS - 3.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Energy - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Exploration & Production - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 820,000                                                                                                                                   |                        |                                      | Chesapeake Energy Corp., 5.5%, 9/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 873,812                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,585,000                                                                                                                                 |                        |                                      | Whiting Petroleum Corp., 1.25%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 2,295,803                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,169,615                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Storage & Transportation - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,800,000                                                                                                                                 |                        |                                      | Golar LNG, Ltd., 3.75%, 3/7/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 2,796,640                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 5,966,255                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Materials - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Construction Materials - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 4,275,000                                                                                                                                 |                        |                                      | Cemex SAB de CV, 3.72%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 4,892,203                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Steel - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 276,548                                                                                                                                   |                        |                                      | New World Resources NV, 4.0%, 10/7/20 (144A) (4.0% cash, 8.0% PIK) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 149                                                                                                                                               |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 4,892,352                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Capital Goods - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electrical Components & Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,250,000                                                                                                                                 |                        |                                      | General Cable Corp., 4.5%, 11/15/29 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 1,039,062                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,039,062                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Media - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Cable & Satellite - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,750,000                                                                                                                                 |                        |                                      | DISH Network Corp., 3.375%, 8/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 2,044,219                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 2,044,219                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pharmaceuticals, Biotechnology & Life Sciences - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pharmaceuticals - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 400,000                                                                                                                                   |                        |                                      | Jazz Investments I, Ltd., 1.875%, 8/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 401,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 401,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Software & Services - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Internet Software & Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,765,000                                                                                                                                 |                        |                                      | WebMD Health Corp., 1.5%, 12/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 1,994,450                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 790,000                                                                                                                                   |                        |                                      | WebMD Health Corp., 2.625%, 6/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 744,575                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,739,025                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Application Software - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,515,000                                                                                                                                 |                        |                                      | Citrix Systems, Inc., 0.5%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,751,719                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 4,490,744                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Technology Hardware & Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electronic Components - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 511,000                                                                                                                                   |                        |                                      | Vishay Intertechnology, Inc., 2.25%, 5/15/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 500,461                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 500,461                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Semiconductors & Semiconductor Equipment - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Semiconductors - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,393,896                                                                                                                                 |                        |                                      | LDK Solar Co, Ltd., 5.535%, 12/31/18, (5.535% cash, 5.535% PIK) (PIK) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 95,756                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 535,000                                                                                                                                   |                        |                                      | Suntech Power Holdings Co., Ltd., 3.0%, 3/15/13 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,675                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 98,431                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 98,431                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL CONVERTIBLE CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $20,624,626)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 19,433,274                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | Shares                                                                                                                                    |                        |                                      | PREFERRED STOCKS - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Transportation - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Air Freight & Logistics - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,428                                                                                                                                     |                        |                                      | CEVA Group Plc, 12/31/14 (c)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 685,634                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 685,634                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Financials - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Finance - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 96,924                                                                                                                                    | 6.41                        |                                      | GMAC Capital Trust I, Floating Rate Note, 2/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 2,490,947                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 2,490,947                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $5,735,375)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 3,176,581                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | CONVERTIBLE PREFERRED STOCK - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Banks - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Banks - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,632                                                                                                                                     |                        |                                      | Bank of America Corp., 7.25%, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 3,138,002                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL CONVERTIBLE PREFERRED STOCK                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $3,183,747)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 3,138,002                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | COMMON STOCKS - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Energy - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Exploration & Production - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 5,735,146                                                                                                                                 |                        |                                      | Ascent CNR Corp. Class A                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 745,569                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,046                                                                                                                                     |                        |                                      | Midstates Petroleum Co, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 21,098                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 39,631                                                                                                                                    |                        |                                      | Pacific Exploration and Production Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,585,874                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,352,541                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 2,352,541                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Capital Goods - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Industrial Machinery - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 156,027                                                                                                                                   |                        |                                      | Liberty Tire Recycling LLC (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 1,560                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,560                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Commercial Services & Supplies - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Support Services - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 63                                                                                                                                        |                        |                                      | IAP Worldwide Services, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 84,949                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 84,949                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Transportation - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Air Freight & Logistics - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,584                                                                                                                                     |                        |                                      | CEVA Group Plc *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 197,956                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 197,956                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automobiles & Components - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automobile Manufacturers - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 63,820                                                                                                                                    |                        |                                      | Ford Motor Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 788,815                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 788,815                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Durables & Apparel - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Homebuilding - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,443,476                                                                                                                                 |                        |                                      | Desarrolladora Homex SAB de CV *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 76,207                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 76,207                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Services - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Education Services - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 11,492                                                                                                                                    |                        |                                      | Cengage Learning Holdings II, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 143,650                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 143,650                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Food, Beverage & Tobacco - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Distillers & Vintners - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 67,811                                                                                                                                    |                        |                                      | Marie Brizard Wine & Spirits SA *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 1,224,220                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,224,220                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL COMMON STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $12,392,181)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 4,869,898                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | Principal Amount ($)                                                                                                                      | FloatingRate (b)            |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | ASSET BACKED SECURITIES - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Transportation - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Airlines - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,197,936                                                                                                                                 |                        |                                      | Continental Airlines 1998-1 Class B Pass Through Trust, 6.748%, 3/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 1,203,207                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,203,207                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Thrifts & Mortgage Finance - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 450,000                                                                                                                                   |                        |                                      | InSite Issuer LLC Class C Series 16-1A, 7.5%, 11/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 448,917                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 448,917                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $1,647,550)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 1,652,124                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | COLLATERALIZED MORTGAGE OBLIGATIONS - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Banks - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Thrifts & Mortgage Finance - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,500,000                                                                                                                                 | 5.82                        |                                      | Banc of America Commercial Mortgage Trust 2007-4, Floating Rate Note, 2/10/51 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,466,949                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,500,000                                                                                                                                 | 3.21                        |                                      | Citigroup Commercial Mortgage Trust 2014-GC23 REMICS, Floating Rate Note, 7/12/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | 967,556                                                                                                 |                                                                                                                                              |
|                                                                                                                                                                                                                     | 1,480,000                                                                                                                                 | 5.76                        |                                      | COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,431,707                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 455,000                                                                                                                                   | 5.76                        |                                      | COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 398,694                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   | 5.79                        |                                      | COMM 2007-C9 Mortgage Trust, Floating Rate Note, 12/10/49 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 572,225                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 750,000                                                                                                                                   | 4.77                        |                                      | COMM 2014-FL5 Mortgage Trust REMICS, Floating Rate Note, 10/15/31 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 691,830                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 917,448                                                                                                                                   | 5.52                        |                                      | EQTY 2014-MZ Mezzanine Trust, Floating Rate Note, 5/10/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 881,057                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 472,783                                                                                                                                   |                        |                                      | Homeowner Assistance Program Reverse Mortgage Loan Trust 2013-RM1, 4.0%, 5/26/53 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | 469,237                                                                                                 |                                                                                                                                              |
|                                                                                                                                                                                                                     | 2,100,000                                                                                                                                 | 6.04                        |                                      | JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | 1,948,918                                                                                               |                                                                                                                                              |
|                                                                                                                                                                                                                     | 1,356,202                                                                                                                                 | 3.27                        |                                      | JP Morgan Mortgage Trust 2005-A1, Floating Rate Note, 2/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,274,120                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   | 3.95                        |                                      | JPMBB Commercial Mortgage Securities Trust 2014-C25 REMICS, Floating Rate Note, 11/18/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | 396,334                                                                                                 |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 10,498,627                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 10,498,627                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $10,480,179)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 10,498,627                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | CORPORATE BONDS - 79.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Energy - 14.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Drilling - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,306,000                                                                                                                                 |                        |                                      | Rowan Companies, Inc., 5.4%, 12/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,867,860                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 417,000                                                                                                                                   |                        |                                      | Rowan Companies, Inc., 5.85%, 1/15/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 344,025                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,211,885                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Equipment & Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | Archrock Partners LP, 6.0%, 10/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 980,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,117,000                                                                                                                                 |                        |                                      | Archrock Partners LP, 6.0%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 1,105,830                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,085,830                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Integrated Oil & Gas - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 5,165,000                                                                                                                                 |                        |                                      | Petrobras Global Finance BV, 5.375%, 1/27/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 5,198,831                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,256,000                                                                                                                                 |                        |                                      | Petrobras Global Finance BV, 6.25%, 3/17/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,261,024                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,400,000                                                                                                                                 |                        |                                      | Petrobras Global Finance BV, 7.375%, 1/17/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 2,491,680                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Petroleos Mexicanos, 5.375%, 3/13/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 611,670                                                                                                                                           |                                                     |
| MXN                                                                                                                                                                                                                      | 8,650,000                                                                                                                                 |                        |                                      | Petroleos Mexicanos, 7.19%, 9/12/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 353,969                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 700,000                                                                                                                                   | 4.61                        |                                      | Petroleos Mexicanos, Floating Rate Note, 3/11/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 727,125                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,435,000                                                                                                                                 |                        |                                      | YPF SA, 8.5%, 3/23/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,555,181                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 12,199,480                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Exploration & Production - 7.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,260,000                                                                                                                                 |                        |                                      | Antero Resources Corp., 5.0%, 3/1/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 2,209,150                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 725,000                                                                                                                                   |                        |                                      | California Resources Corp., 8.0%, 12/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 645,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,245,000                                                                                                                                 |                        |                                      | Carrizo Oil & Gas, Inc., 6.25%, 4/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,277,681                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 650,000                                                                                                                                   |                        |                                      | Chesapeake Energy Corp., 8.0%, 1/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 665,844                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Chesapeake Energy Corp., 8.0%, 12/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 640,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,226,000                                                                                                                                 |                        |                                      | Cobalt International Energy, Inc., 10.75%, 12/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 2,103,570                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 818,000                                                                                                                                   |                        |                                      | Cobalt International Energy, Inc., 7.75%, 12/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 433,540                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,385,000                                                                                                                                 |                        |                                      | Continental Resources, Inc., 3.8%, 6/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 2,226,994                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,480,000                                                                                                                                 |                        |                                      | Denbury Resources, Inc., 5.5%, 5/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 2,126,600                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,095,000                                                                                                                                 |                        |                                      | GeoPark Latin America, Ltd. Agencia en Chile, 7.5%, 2/11/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 2,053,100                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,380,000                                                                                                                                 |                        |                                      | Great Western Petroleum LLC, 9.0%, 9/30/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,462,800                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,950,000                                                                                                                                 |                        |                                      | Gulfport Energy Corp., 6.0%, 10/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,986,562                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,000,000                                                                                                                                 |                        |                                      | Gulfport Energy Corp., 6.375%, 5/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 2,050,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,634,000                                                                                                                                 |                        |                                      | Halcon Resources Corp., 12.0%, 2/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,846,420                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,790,000                                                                                                                                 |                        |                                      | Hilcorp Energy I LP, 5.0%, 12/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 3,733,150                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | KazMunayGas National Co JSC, 4.4%, 4/30/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 997,994                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 575,000                                                                                                                                   |                        |                                      | MEG Energy Corp., 6.5%, 1/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 580,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,100,000                                                                                                                                 |                        |                                      | MEG Energy Corp., 7.0%, 3/31/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,034,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 880,000                                                                                                                                   |                        |                                      | Newfield Exploration Co., 5.375%, 1/1/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 910,800                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 425,000                                                                                                                                   |                        |                                      | Newfield Exploration Co., 5.625%, 7/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 447,312                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,455,000                                                                                                                                 |                        |                                      | Novatek OAO via Novatek Finance DAC, 4.422%, 12/13/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,452,847                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,240,000                                                                                                                                 |                        |                                      | Oasis Petroleum, Inc., 6.875%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 3,321,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,460,000                                                                                                                                 |                        |                                      | Parsley Energy LLC, 5.375%, 1/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,496,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                   |                        |                                      | Parsley Energy LLC, 6.25%, 6/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 268,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,520,000                                                                                                                                 |                        |                                      | PDC Energy, Inc., 7.75%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,613,100                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 340,000                                                                                                                                   |                        |                                      | QEP Resources, Inc., 5.25%, 5/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 338,300                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,560,000                                                                                                                                 |                        |                                      | Rice Energy Inc., 6.25%, 5/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 1,618,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 975,000                                                                                                                                   |                        |                                      | Rice Energy, Inc., 7.25%, 5/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 1,045,688                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,000,000                                                                                                                                 |                        |                                      | Sanchez Energy Corp., 6.125%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,920,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 200,000                                                                                                                                   |                        |                                      | SM Energy Company, 6.125%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 206,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 575,000                                                                                                                                   |                        |                                      | Whiting Petroleum Corp., 5.0%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 585,062                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,500,000                                                                                                                                 |                        |                                      | WPX Energy, Inc., 6.0%, 1/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 1,560,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 44,858,264                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Refining & Marketing - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,790,000                                                                                                                                 |                        |                                      | Calumet Specialty Products Partners LP, 6.5%, 4/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 1,548,350                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 448,000                                                                                                                                   |                        |                                      | EnLink Midstream Partners LP, 5.05%, 4/1/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 411,931                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,299,000                                                                                                                                 |                        |                                      | EnLink Midstream Partners LP, 5.6%, 4/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,277,118                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 415,000                                                                                                                                   |                        |                                      | PBF Holding Co LLC, 7.0%, 11/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 422,262                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,659,661                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Storage & Transportation - 3.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,085,000                                                                                                                                 |                        |                                      | Energy Transfer Equity LP, 5.875%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 1,158,238                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,090,000                                                                                                                                 |                        |                                      | Genesis Energy LP, 5.75%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,118,612                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 725,000                                                                                                                                   |                        |                                      | Genesis Energy LP, 6.75%, 8/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 766,688                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,645,000                                                                                                                                 |                        |                                      | Global Partners LP, 7.0%, 6/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 2,598,712                                                                                                                                         |                                                     |
| NOK                                                                                                                                                                                                                      | 13,000,000                                                                                                                                | 6.30                        |                                      | Golar LNG Partners LP, Floating Rate Note, 10/12/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,601,014                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 985,000                                                                                                                                   |                        |                                      | Holly Energy Partners LP, 6.0%, 8/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,031,788                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,480,000                                                                                                                                 |                        |                                      | MPLX LP, 4.875%, 6/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,551,679                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,625,000                                                                                                                                 |                        |                                      | ONEOK, Inc., 7.5%, 9/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 3,051,562                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   |                        |                                      | Sabine Pass Liquefaction LLC, 5.0%, 3/15/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 524,375                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 4,000,000                                                                                                                                 |                        |                                      | Sabine Pass Liquefaction LLC, 5.625%, 2/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 4,320,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 710,000                                                                                                                                   |                        |                                      | Sabine Pass Liquefaction LLC, 5.875%, 6/30/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 787,212                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,150,000                                                                                                                                 |                        |                                      | Targa Resources Partners LP, 4.25%, 11/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 2,117,750                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 545,000                                                                                                                                   |                        |                                      | Targa Resources Partners LP, 5.375%, 2/1/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 564,756                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,375,000                                                                                                                                 |                        |                                      | The Williams Companies, Inc., 4.55%, 6/24/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,392,188                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,635,000                                                                                                                                 |                        |                                      | The Williams Companies, Inc., 5.75%, 6/24/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 2,667,938                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 25,252,512                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Coal & Consumable Fuels - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 315,000                                                                                                                                   |                        |                                      | Alpha Natural Resources, Inc., 6.0%, 6/1/19 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 4,095                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 90,271,727                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Materials - 6.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Commodity Chemicals - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,975,000                                                                                                                                 |                        |                                      | Rain CII Carbon LLC, 8.0%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 1,970,062                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 755,000                                                                                                                                   |                        |                                      | Tronox Finance LLC, 7.5%, 3/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 736,125                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,706,187                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Chemicals - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 2,015,000                                                                                                                                 |                        |                                      | Axalta Coating Systems LLC, 4.25%, 8/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 2,306,662                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 460,000                                                                                                                                   |                        |                                      | Blue Cube Spinco, Inc., 9.75%, 10/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 546,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 725,000                                                                                                                                   |                        |                                      | CVR Partners LP, 9.25%, 6/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 772,125                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 1,138,000                                                                                                                                 |                        |                                      | Ineos Finance Plc, 4.0%, 5/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,277,906                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 1,380,000                                                                                                                                 |                        |                                      | Inovyn Finance Plc, 6.25%, 5/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 1,582,438                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 6,485,381                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Construction Materials - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 1,200,000                                                                                                                                 |                        |                                      | Cemex SAB de CV, 4.75%, 1/11/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 1,347,139                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Metal & Glass Containers - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 700,000                                                                                                                                   |                        |                                      | ARD Finance SA, 6.625%, 9/15/23 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 763,459                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 700,000                                                                                                                                   |                        |                                      | ARD Finance SA, 7.125%, 9/15/23 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 711,375                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 475,000                                                                                                                                   |                        |                                      | Ardagh Group, 3.876%, 5/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 487,469                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 590,000                                                                                                                                   |                        |                                      | Ardagh Packaging Finance Plc, 4.625%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 595,531                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 410,000                                                                                                                                   |                        |                                      | Ardagh Packaging Finance Plc, 6.75%, 5/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 481,987                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 630,000                                                                                                                                   |                        |                                      | Ardagh Packaging Finance Plc, 7.25%, 5/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 674,888                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 725,000                                                                                                                                   |                        |                                      | Horizon Holdings I SAS, 7.25%, 8/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 830,766                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 950,000                                                                                                                                   |                        |                                      | Verallia Packaging SASU, 5.125%, 8/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,088,590                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 5,634,065                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Paper Packaging - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 815,000                                                                                                                                   |                        |                                      | AEP Industries, Inc., 8.25%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 833,745                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Aluminum - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 680,000                                                                                                                                   |                        |                                      | Constellium NV, 7.875%, 4/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 730,150                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,025,000                                                                                                                                 |                        |                                      | Rusal Capital DAC, 5.125%, 2/2/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 3,002,312                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,732,462                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Metals & Mining - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 810,000                                                                                                                                   |                        |                                      | Ausdrill Finance Pty, Ltd., 6.875%, 11/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 816,075                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 757,000                                                                                                                                   |                        |                                      | FMG Resources August 2006 Pty, Ltd., 9.75%, 3/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 878,120                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,150,000                                                                                                                                 |                        |                                      | Freeport-McMoRan, Inc., 3.55%, 3/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,075,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,100,000                                                                                                                                 |                        |                                      | MMC Norilsk Nickel OJSC via MMC Finance DAC, 5.55%, 10/28/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,170,675                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 860,000                                                                                                                                   |                        |                                      | Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 855,700                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 255,000                                                                                                                                   |                        |                                      | Teck Resources, Ltd., 8.0%, 6/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 281,138                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 255,000                                                                                                                                   |                        |                                      | Teck Resources, Ltd., 8.5%, 6/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 296,756                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 560,000                                                                                                                                   |                        |                                      | Vale Overseas, Ltd., 6.25%, 8/10/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 602,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,150,000                                                                                                                                 |                        |                                      | Vedanta Resources Plc, 6.375%, 7/30/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,151,725                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | Vedanta Resources Plc, 7.125%, 5/31/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,021,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,645,000                                                                                                                                 |                        |                                      | Vedanta Resources Plc, 8.25%, 6/7/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 3,960,292                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 12,108,981                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Steel - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 715,000                                                                                                                                   |                        |                                      | ArcelorMittal, 6.125%, 6/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 786,057                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,066,000                                                                                                                                 |                        |                                      | BlueScope Steel Finance, Ltd., 6.5%, 5/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,187,378                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 101,612                                                                                                                                   | 0.00                        |                                      | New World Resources NV, Floating Rate Note, 10/7/20 (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                         - |                                                     |
| EUR                                                                                                                                                                                                                      | 135,483                                                                                                                                   | 0.00                        |                                      | New World Resources NV, Floating Rate Note, 10/7/20 (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                         - |                                                     |
|                                                                                                                                                                                                                     | 1,960,000                                                                                                                                 |                        |                                      | Samarco Mineracao SA, 4.125%, 11/1/22 (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 1,295,560                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 910,000                                                                                                                                   |                        |                                      | Samarco Mineracao SA, 5.75%, 10/24/23 (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 605,150                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,874,145                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Forest Products - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,655,000                                                                                                                                 |                        |                                      | Eldorado Intl. Finance GmbH, 8.625%, 6/16/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 2,362,950                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Paper Products - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,305,000                                                                                                                                 |                        |                                      | Resolute Forest Products, Inc., 5.875%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 1,138,612                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 41,223,667                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Capital Goods - 2.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Aerospace & Defense - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,202,278                                                                                                                                 |                        |                                      | DynCorp International, Inc., 11.875%, 11/30/20 (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,064,636                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 3,615,000                                                                                                                                 |                        |                                      | TA MFG., Ltd., 3.625%, 4/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 3,988,782                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 6,053,418                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Building Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,650,000                                                                                                                                 |                        |                                      | Elementia SAB de CV, 5.5%, 1/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 1,592,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Construction & Engineering - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 6,900,000                                                                                                                                 |                        |                                      | Abengoa Finance SA, 8.875%, 11/1/17 (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 310,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electrical Components & Equipment - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,000,000                                                                                                                                 |                        |                                      | General Cable Corp., 5.75%, 10/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,985,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Industrial Conglomerates - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,980,000                                                                                                                                 |                        |                                      | JB Poindexter & Co., Inc., 9.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 3,136,450                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Industrial Machinery - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,880,000                                                                                                                                 |                        |                                      | Apex Tool Group LLC, 7.0%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 3,589,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Trading Companies & Distributors - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,690,000                                                                                                                                 |                        |                                      | WESCO Distribution, Inc., 5.375%, 12/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 1,753,375                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 18,419,993                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Commercial Services & Supplies - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Environmental & Facilities Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 745,000                                                                                                                                   |                        |                                      | Clean Harbors, Inc., 5.125%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 763,774                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Support Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 400,000                                                                                                                                   |                        |                                      | Broadspectrum, Ltd., 8.375%, 5/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 420,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,300,000                                                                                                                                 |                        |                                      | NANA Development Corp., 9.5%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,267,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,687,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 2,451,274                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Transportation - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Airlines - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,275,782                                                                                                                                 |                        |                                      | Guanay Finance, Ltd., 6.0%, 12/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 1,291,729                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,100,000                                                                                                                                 |                        |                                      | TAM Capital 3, Inc., 8.375%, 6/3/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,135,750                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,427,479                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Marine - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,100,000                                                                                                                                 |                        |                                      | Far East Capital, Ltd. SA, 8.0%, 5/2/18 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 1,207,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,150,000                                                                                                                                 |                        |                                      | Navios South American Logistics, Inc., 7.25%, 5/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 2,909,812                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,117,312                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Railroads - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,370,000                                                                                                                                 |                        |                                      | Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 3,462,675                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 1,325,000                                                                                                                                 |                        |                                      | Russian Railways via RZD Capital Plc, 3.3744%, 5/20/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,509,355                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,972,030                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Trucking - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,875,521                                                                                                                                 |                        |                                      | Inversiones Alsacia SA, 8.0%, 12/31/18 (144A)  (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 158,154                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Airport Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 370,000                                                                                                                                   |                        |                                      | Aeropuertos Argentina 2000 SA, 6.875%, 2/1/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 374,070                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 525,000                                                                                                                                   |                        |                                      | Aeropuertos Dominicanos Siglo XXI SA, 6.75%, 3/30/29 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 536,156                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 910,226                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Highways & Railtracks - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 1,315,000                                                                                                                                 |                        |                                      | Hertz Holdings Netherlands BV, 4.125%, 10/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 1,355,977                                                                                                                                         |                                                     |
| MXN                                                                                                                                                                                                                      | 37,000,000                                                                                                                                |                        |                                      | Red de Carreteras de Occidente SAPIB de CV, 9.0%, 6/10/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 1,630,676                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,986,653                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 15,571,854                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automobiles & Components - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Auto Parts & Equipment - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 1,350,000                                                                                                                                 |                        |                                      | IHO Verwaltungs GmbH, 3.75%, 9/15/26 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 1,461,015                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,462,000                                                                                                                                 |                        |                                      | Nexteer Automotive Group, Ltd., 5.875%, 11/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,520,480                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,981,495                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automobile Manufacturers - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,035,000                                                                                                                                 |                        |                                      | Dana Financing Luxembourg Sarl, 6.5%, 6/1/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 2,152,379                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,877,000                                                                                                                                 |                        |                                      | TI Group Automotive Systems LLC, 8.75%, 7/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 2,017,775                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,170,154                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 7,151,649                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Durables & Apparel - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Homebuilding - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 460,000                                                                                                                                   |                        |                                      | Beazer Homes USA, Inc., 8.75%, 3/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 500,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,345,000                                                                                                                                 |                        |                                      | KB Home, 7.0%, 12/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,449,238                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,079,000                                                                                                                                 |                        |                                      | Lennar Corp., 4.75%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 2,132,285                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,200,000                                                                                                                                 |                        |                                      | Rialto Holdings LLC, 7.0%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 2,244,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,625,000                                                                                                                                 |                        |                                      | Taylor Morrison Communities, Inc., 5.875%, 4/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 1,690,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 8,015,773                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 8,015,773                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Services - 3.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Casinos & Gaming - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 1,870,000                                                                                                                                 |                        |                                      | Codere Finance 2 Luxembourg SA, 6.75%, 11/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 1,978,023                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 605,000                                                                                                                                   |                        |                                      | Codere Finance 2 Luxembourg SA, 7.625%, 11/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 575,809                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 2,225,000                                                                                                                                 |                        |                                      | Intralot Capital Luxembourg SA, 6.75%, 9/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 2,456,883                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 85,767                                                                                                                                    |                        |                                      | Mashantucket Western Pequot Tribe, 6.5%, 7/1/36 (1.0% cash, 5.50% PIK) (PIK) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 437                                                                                                                                               |                                                     |
|                                                                                                                                                                                                                     | 6,376,000                                                                                                                                 |                        |                                      | Scientific Games International, Inc., 10.0%, 12/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 6,532,977                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 625,000                                                                                                                                   |                        |                                      | Scientific Games International, Inc., 6.25%, 9/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 581,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 12,125,379                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Hotels, Resorts & Cruise Lines - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,504,000                                                                                                                                 |                        |                                      | Sabre GLBL, Inc., 5.375%, 4/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 1,529,851                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,860,000                                                                                                                                 |                        |                                      | Viking Cruises, Ltd., 8.5%, 10/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 3,006,575                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,536,426                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Restaurants - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,460,000                                                                                                                                 |                        |                                      | KFC Holding Co., 5.0%, 6/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,487,375                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Specialized Consumer Services - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 3,585,000                                                                                                                                 |                        |                                      | Boing Group Financing Plc, 6.625%, 7/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 3,851,549                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,140,000                                                                                                                                 |                        |                                      | Constellis Holdings LLC, 9.75%, 5/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,214,100                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 5,065,649                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 23,214,829                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Media - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Advertising - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,125,000                                                                                                                                 |                        |                                      | MDC Partners, Inc., 6.5%, 5/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 978,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Broadcasting - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,615,000                                                                                                                                 |                        |                                      | CCO Holdings LLC, 5.75%, 2/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 1,711,396                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,075,000                                                                                                                                 |                        |                                      | CSC Holdings LLC, 5.5%, 4/15/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,091,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,650,000                                                                                                                                 |                        |                                      | Gray Television, Inc., 5.125%, 10/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,621,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,970,000                                                                                                                                 |                        |                                      | Gray Television, Inc., 5.875%, 7/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,957,688                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 1,240,000                                                                                                                                 |                        |                                      | United Group BV, 7.875%, 11/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,401,885                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 7,783,219                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Cable & Satellite - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,140,000                                                                                                                                 |                        |                                      | DISH DBS Corp., 5.875%, 7/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 2,224,530                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 283,000                                                                                                                                   |                        |                                      | Intelsat Connect Finance SA, 12.5%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 178,998                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 210,000                                                                                                                                   |                        |                                      | Intelsat Luxembourg SA, 7.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 72,975                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 765,000                                                                                                                                   |                        |                                      | Sirius XM Radio, Inc., 5.375%, 7/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 777,431                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 2,300,000                                                                                                                                 |                        |                                      | Ziggo Secured Finance BV, 4.25%, 1/15/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 2,522,089                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 5,776,023                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Movies & Entertainment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 1,125,000                                                                                                                                 |                        |                                      | WMG Acquisition Corp., 4.125%, 11/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 1,266,344                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 15,804,336                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Retailing - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Distributors - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,250,000                                                                                                                                 |                        |                                      | LKQ Corp., 4.75%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 1,251,875                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Internet Retail - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,525,000                                                                                                                                 |                        |                                      | Netflix Inc., 4.375% 11/15/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 3,458,906                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Department Stores - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,285,000                                                                                                                                 |                        |                                      | PetSmart, Inc., 7.125%, 3/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 2,245,012                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automotive Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,485,000                                                                                                                                 |                        |                                      | Cooper-Standard Automotive, Inc., 5.625%, 11/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 1,493,346                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 8,449,139                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Food & Staples Retailing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Food Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,535,000                                                                                                                                 |                        |                                      | C&S Group Enterprises LLC, 5.375%, 7/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 1,504,300                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,504,300                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Food, Beverage & Tobacco - 7.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Agricultural Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,625,000                                                                                                                                 |                        |                                      | Tonon Luxembourg SA, 10.5%, 5/14/24 (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 666,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Packaged Foods & Meats - 7.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| EUR                                                                                                                                                                                                                      | 2,825,000                                                                                                                                 |                        |                                      | Agrokor dd, 9.875%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 2,638,504                                                                                                                                         |                                                     |
| GBP                                                                                                                                                                                                                      | 1,170,000                                                                                                                                 |                        |                                      | Boparan Finance Plc, 5.5%, 7/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 1,438,753                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,450,000                                                                                                                                 |                        |                                      | CFG Investment SAC, 9.75%, 7/30/19 (144A) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 3,515,500                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 2,878,000                                                                                                                                 |                        |                                      | Darling Global Finance BV, 4.75%, 5/30/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 3,301,740                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 775,000                                                                                                                                   |                        |                                      | FAGE International SA, 5.625%, 8/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 785,168                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,135,000                                                                                                                                 |                        |                                      | JBS USA LUX SA, 5.75%, 6/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 3,218,078                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 525,000                                                                                                                                   |                        |                                      | Lamb Weston Holdings, Inc., 4.625%, 11/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 526,312                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 525,000                                                                                                                                   |                        |                                      | Lamb Weston Holdings, Inc., 4.875%, 11/1/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 525,656                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,015,000                                                                                                                                 |                        |                                      | Marfrig Holdings Europe BV, 6.875%, 6/24/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 3,149,168                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,923,000                                                                                                                                 |                        |                                      | Marfrig Holdings Europe BV, 8.0%, 6/8/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 4,133,861                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,425,000                                                                                                                                 |                        |                                      | MHP SA, 8.25%, 4/2/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,403,625                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,555,000                                                                                                                                 |                        |                                      | Minerva Luxembourg SA, 12.25%, 2/10/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 2,721,075                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,210,000                                                                                                                                 |                        |                                      | Minerva Luxembourg SA, 6.5%, 9/20/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 2,196,188                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 6,530,000                                                                                                                                 |                        |                                      | Minerva Luxembourg SA, 7.75%, 1/31/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 6,938,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 6,500,000                                                                                                                                 |                        |                                      | Pesquera Exalmar SAA, 7.375%, 1/31/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 4,940,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,630,000                                                                                                                                 |                        |                                      | Post Holdings, Inc., 6.0%, 12/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 2,761,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,375,000                                                                                                                                 |                        |                                      | Post Holdings, Inc., 6.75%, 12/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,457,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 45,650,753                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Tobacco - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 535,000                                                                                                                                   |                        |                                      | Alliance One International Inc., 8.5%, 4/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 549,044                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,050,000                                                                                                                                 |                        |                                      | Alliance One International, Inc., 9.875%, 7/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 2,603,938                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,152,982                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 49,469,985                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Equipment & Services - 2.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,175,000                                                                                                                                 |                        |                                      | RegionalCare Hospital Partners Holdings, Inc., 8.25%, 5/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,213,188                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,430,000                                                                                                                                 |                        |                                      | Team Health Holdings, Inc., 6.375%, 2/1/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,404,975                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,618,163                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Facilities - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,915,000                                                                                                                                 |                        |                                      | CHS, 6.875%, 2/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 2,848,162                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,400,000                                                                                                                                 |                        |                                      | Kindred Healthcare Inc., 6.375%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 2,085,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,320,000                                                                                                                                 |                        |                                      | Kindred Healthcare, Inc., 8.0%, 1/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,300,200                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 820,000                                                                                                                                   |                        |                                      | Universal Hospital Services, Inc., 7.625%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 813,850                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 7,047,212                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Managed Health Care - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 245,000                                                                                                                                   |                        |                                      | Centene Corp., 4.75%, 1/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 241,783                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,840,000                                                                                                                                 |                        |                                      | Centene Corp., 4.75%, 5/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,867,600                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,550,000                                                                                                                                 |                        |                                      | Centene Corp., 5.625%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,627,190                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,130,000                                                                                                                                 |                        |                                      | WellCare Health Plans, Inc., 5.75%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 3,227,812                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 6,964,385                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 16,629,760                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pharmaceuticals, Biotechnology & Life Sciences - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pharmaceuticals - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,165,000                                                                                                                                 |                        |                                      | DPx Holdings BV, 7.5%, 2/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,234,900                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 5,256,000                                                                                                                                 |                        |                                      | Endo Finance LLC, 5.375%, 1/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 4,401,900                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 225,000                                                                                                                                   |                        |                                      | Horizon Pharma Inc., 8.75% 11/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 231,188                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 750,000                                                                                                                                   |                        |                                      | Horizon Pharma, Inc., 6.625%, 5/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 721,875                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 3,475,000                                                                                                                                 |                        |                                      | Valeant Pharmaceuticals International, Inc., 4.5%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 2,776,577                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,180,000                                                                                                                                 |                        |                                      | Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 3,182,025                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 12,548,465                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 12,548,465                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Banks - 7.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Banks - 6.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 800,000                                                                                                                                   |                        |                                      | Access Bank Plc, 10.5%, 10/19/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 805,840                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,885,000                                                                                                                                 | 9.25                        |                                      | Access Bank Plc, Floating Rate Note, 6/24/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,705,925                                                                                                                                         |                                                     |
| INR                                                                                                                                                                                                                      | 134,290,000                                                                                                                               |                        |                                      | Asian Development Bank, 6.2%, 10/6/26                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 2,004,319                                                                                                                                         |                                                     |
| INR                                                                                                                                                                                                                      | 108,160,000                                                                                                                               |                        |                                      | Asian Development Bank, 6.45%, 8/8/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,629,058                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,050,000                                                                                                                                 | 8.25                        |                                      | Banco de Galicia y Buenos Aires SA, Floating Rate Note, 7/19/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,113,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 925,000                                                                                                                                   | 9.00                        |                                      | Banco do Brasil SA, Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 934,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 295,000                                                                                                                                   | 3.80                        |                                      | Banco Nacional de Comercio Exterior SNC Cayman Islands, Floating Rate Note, 8/11/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | 280,988                                                                                                 |                                                                                                                                              |
|                                                                                                                                                                                                                     | 2,000,000                                                                                                                                 |                        |                                      | Banco Nacional de Costa Rica, 6.25%, 11/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,040,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 375,000                                                                                                                                   | 6.25                        |                                      | Bank of America Corp., Floating Rate Note, 9/29/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 391,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,680,000                                                                                                                                 |                        |                                      | Banque Ouest Africaine de Developpement, 5.5%, 5/6/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 2,775,944                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,400,000                                                                                                                                 |                        |                                      | BBVA Bancomer SA Texas, 6.75%, 9/30/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,522,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,625,000                                                                                                                                 | 7.62                        |                                      | BNP Paribas SA, Floating Rate Note, 12/31/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 3,806,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 854,000                                                                                                                                   | 6.25                        |                                      | Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 902,038                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,900,000                                                                                                                                 | 5.90                        |                                      | Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 1,965,550                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 346,000                                                                                                                                   | 5.88                        |                                      | Citigroup, Inc., Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 356,812                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,525,000                                                                                                                                 | 8.12                        |                                      | Credit Agricole SA, Floating Rate Note, 12/31/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,684,328                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 660,000                                                                                                                                   | 7.88                        |                                      | Credit Agricole SA, Floating Rate Note, 12/31/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 672,152                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,685,000                                                                                                                                 | 6.50                        |                                      | ING Groep NV, Floating Rate Note, 12/29/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,632,344                                                                                                                                         |                                                     |
| INR                                                                                                                                                                                                                      | 42,350,000                                                                                                                                |                        |                                      | Inter-American Development Bank, 6.0%, 9/5/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 626,854                                                                                                                                           |                                                     |
| INR                                                                                                                                                                                                                      | 31,450,000                                                                                                                                |                        |                                      | International Bank for Reconstruction & Development, 5.75%, 10/28/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 465,877                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 4,000,000                                                                                                                                 | 7.70                        |                                      | Intesa Sanpaolo S.p.A., Floating Rate Note, 12/29/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 3,650,000                                                                                                                                         |                                                     |
| EUR                                                                                                                                                                                                                      | 970,000                                                                                                                                   | 6.38                        |                                      | Lloyds Banking Group Plc, Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 1,094,304                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,450,000                                                                                                                                 | 8.62                        |                                      | Royal Bank of Scotland Group Plc, Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,497,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 120,000                                                                                                                                   | 7.50                        |                                      | Royal Bank of Scotland Group Plc, Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 116,400                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,773,000                                                                                                                                 | 8.00                        |                                      | Royal Bank of Scotland Group Plc, Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,720,040                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 750,000                                                                                                                                   |                        |                                      | Sberbank of Russia Via SB Capital SA, 5.25%, 5/23/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 759,375                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 700,000                                                                                                                                   | 5.50                        |                                      | Sberbank of Russia Via SB Capital SA, Floating Rate Note, 2/26/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 714,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 790,000                                                                                                                                   | 7.38                        |                                      | Societe Generale SA, Floating Rate Note, 12/31/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 791,462                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,490,000                                                                                                                                 |                        |                                      | Turkiye Is Bankasi, 5.375%, 10/6/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 2,395,006                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,500,000                                                                                                                                 |                        |                                      | Turkiye Is Bankasi, 5.5%, 4/21/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,436,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 775,000                                                                                                                                   |                        |                                      | VTB Bank OJSC Via VTB Capital SA, 6.95%, 10/17/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 838,938                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 43,328,429                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Thrifts & Mortgage Finance - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,700,000                                                                                                                                 |                        |                                      | Alfa Bank AO Via Alfa Bond Issuance Plc, 7.5%, 9/26/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 2,936,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,850,000                                                                                                                                 |                        |                                      | Argentine Republic Government International Bond, 7.5%, 4/22/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,931,400                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,225,000                                                                                                                                 |                        |                                      | Vnesheconombank Via VEB Finance Plc, 6.902%, 7/9/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 2,419,688                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 7,287,338                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 50,615,767                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Financials - 4.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Other Diversified Financial Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| IDR                                                                                                                                                                                                                      | 35,810,000,000                                                                                                                            |                        |                                      | European Investment Bank, 7.2%, 7/9/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 2,657,321                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Specialized Finance - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,000,000                                                                                                                                 |                        |                                      | Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 3,289,104                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,870,000                                                                                                                                 |                        |                                      | Nationstar Mortgage LLC, 6.5%, 6/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 4,863,912                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,185,000                                                                                                                                 |                        |                                      | Nationstar Mortgage LLC, 6.5%, 7/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,207,219                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 9,360,235                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Consumer Finance - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 150,000                                                                                                                                   |                        |                                      | Ally Financial, Inc., 4.625%, 5/19/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 152,250                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 5,003,000                                                                                                                                 |                        |                                      | Ally Financial, Inc., 5.75%, 11/20/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 5,078,045                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,350,000                                                                                                                                 |                        |                                      | Credito Real SAB de CV SOFOM ER, 7.25%, 7/20/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 2,350,000                                                                                                                                         |                                                     |
| INR                                                                                                                                                                                                                      | 240,670,000                                                                                                                               |                        |                                      | International Finance Corp., 8.25%, 6/10/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 3,844,275                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 11,424,570                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Asset Management & Custody Banks - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,800,000                                                                                                                                 |                        |                                      | JBS Investment Management, Ltd., 7.25%, 4/3/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 3,985,250                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Investment Banking & Brokerage - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,028,000                                                                                                                                 |                        |                                      | UBS AG, 7.625%, 8/17/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 2,305,836                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 29,733,212                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Insurance - 2.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Life & Health Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| GBP                                                                                                                                                                                                                      | 954,047                                                                                                                                   |                        |                                      | TIG FINCO Plc, 8.75%, 4/2/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 1,151,909                                                                                                                                         |                                                     |
| GBP                                                                                                                                                                                                                      | 168,361                                                                                                                                   | 8.50                        |                                      | TIG FINCO Plc, Floating Rate Note, 3/2/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 217,465                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 1,369,374                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Reinsurance - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 450,000                                                                                                                                   | 6.11                        |                                      | Alamo Re, Ltd., Floating Rate Note, 6/7/18 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 467,325                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,300,000                                                                                                                                 |                        |                                      | Arlington Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 8/31/16 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 63,180                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 800,000                                                                                                                                   |                        |                                      | Berwick 2016-1 Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 2/1/18 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 105,040                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | Berwick Segregated Account (Artex SAC Ltd.), Variable Rate Note, 1/22/16 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 30,000                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 2,600,000                                                                                                                                 |                        |                                      | Carnosutie 2016-N,Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 11/30/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 311,220                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 800,000                                                                                                                                   |                        |                                      | Carnoustie Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 11/30/21 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 800,800                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,900,000                                                                                                                                 |                        |                                      | Carnoustie Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 2/19/16 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 79,560                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Cypress Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 7/10/17 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 525,480                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 1,300,000                                                                                                                                 |                        |                                      | Dundonald Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 1/17/17 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 1,403,675                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Eden Re II, Ltd., Variable Rate Notes, 3/22/21 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 604,620                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 8,000                                                                                                                                     |                        |                                      | Eden Re II, Ltd., Variable Rate Notes, 4/23/19 (144A) (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 88,805                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                   | N/A                         |                                      | Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 250,375                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                   | N/A                         |                                      | Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 300,720                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                   | N/A                         |                                      | Galilei Re, Ltd., Floating Rate Note, 1/8/20 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 300,630                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                   | N/A                         |                                      | Galilei Re, Ltd., Floating Rate Note, 1/8/21 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 300,540                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,600,000                                                                                                                                 |                        |                                      | Gleneagles Segregated Account (Artex SAC Ltd), Variable Rate Notes, 11/30/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 269,120                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,500,000                                                                                                                                 |                        |                                      | Gullane Segregated Account (Artex SAC Ltd.), Variable Rate Note 11/30/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 332,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 800,000                                                                                                                                   |                        |                                      | Gullane Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 11/30/21 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 803,520                                                                                                                                           |                                                     |
| EUR                                                                                                                                                                                                                      | 250,000                                                                                                                                   | 12.00                       |                                      | Horse Capital I DAC, Floating Rate Note, 6/15/20 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 270,477                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 350,000                                                                                                                                   |                        |                                      | Kingsbarns Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 5/15/17 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 343,175                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                   |                        |                                      | Limestone Re, Ltd., 8/31/21 (Cat Bond) (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 249,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                   |                        |                                      | Limestone Re, Ltd., 8/31/21 (Cat Bond) (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 249,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,400,000                                                                                                                                 |                        |                                      | Lorenz Re, Ltd., Variable Rate Notes, 3/31/18 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 13,920                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 1,100,000                                                                                                                                 |                        |                                      | Lorenz Re, Ltd., Variable Rate Notes, 3/31/19 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 1,161,930                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 490,000                                                                                                                                   |                        |                                      | Madison Re, Variable Rate Notes, 3/31/19 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 516,068                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,900,000                                                                                                                                 |                        |                                      | Pangaea Re, Series 2015-1, Principal at Risk Notes, 2/1/19 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 152,880                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | Pangaea Re, Series 2016-2, Principal at Risk Notes, 11/30/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,121,700                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,500,000                                                                                                                                 |                        |                                      | Pangaea Re., Variable Rate Notes, 2/1/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 451,850                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 300,000                                                                                                                                   |                        |                                      | Pinehurst Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 1/16/18 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 284,310                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,300,000                                                                                                                                 |                        |                                      | Prestwick Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 7/1/16 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 37,960                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 250,000                                                                                                                                   |                        |                                      | Residential Reinsurance 2016, Ltd., Floating Rate Note, 12/6/20 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 231,750                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   | 0.00                        |                                      | Residential Reinsurance 2016, Ltd., Floating Rate Note, 12/6/23 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 494,950                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 400,000                                                                                                                                   | 4.50                        |                                      | Resilience Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 400,000                                                                                                                                           |                                                     |
| AUD                                                                                                                                                                                                                      | 300,000                                                                                                                                   |                        |                                      | RW0009, 7/10/17 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 201,410                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 5,450                                                                                                                                     |                        |                                      | Sector Re V, Ltd., Variable Rate Notes, 12/1/20 (144A) (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 199,084                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   |                        |                                      | St Andrews Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 2/1/19 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 503,300                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,600,000                                                                                                                                 |                        |                                      | St. Andrews Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 1/22/16 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 51,220                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 1,750,000                                                                                                                                 |                        |                                      | St. Andrews Segregated Account (Artex SAC Ltd.), Variance Rate Notes, 2/1/18 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 289,800                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   |                        |                                      | Sunningdale Segregated Account (Artex SAC Ltd.), Variable Rate Notes, 1/16/18 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 449,400                                                                                                                                           |                                                     |
| JPY                                                                                                                                                                                                                      | 98,019,477                                                                                                                                |                        |                                      | Tralee Segregated Account (Artex), Variable Rate Note 7/15/17 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 865,279                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Versutus 2016, Class A, Variable Rate Notes, 11/30/21 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 603,420                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,000,000                                                                                                                                 |                        |                                      | Versutus 2016, Class A-1, Variable Rate Notes, 11/30/20 (f)(g)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 122,400                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 16,302,393                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 17,671,767                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Real Estate - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Specialized REIT - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,314,110                                                                                                                                 |                        |                                      | AAF Holdings LLC, 12.0%, 7/1/19 (144A) (12.0% cash, 0.0% PIK) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 2,395,104                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Specialized REIT - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,870,000                                                                                                                                 |                        |                                      | Communications Sales & Leasing, Inc., 6.0%, 4/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 3,013,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 919,000                                                                                                                                   |                        |                                      | Equinix, Inc., 5.375%, 4/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 961,577                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,975,077                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 6,370,181                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Software & Services - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Internet Software & Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,780,000                                                                                                                                 |                        |                                      | Cimpress NV, 7.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 1,833,400                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 558,000                                                                                                                                   |                        |                                      | IAC, 4.875%, 11/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 566,370                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,399,770                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | IT Consulting & Other Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 735,000                                                                                                                                   |                        |                                      | Diamond 1 Finance Corp., 5.875%, 6/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 775,324                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,455,000                                                                                                                                 |                        |                                      | Rackspace, 8.625%, 11/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,509,562                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,284,886                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Data Processing & Outsourced Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,765,000                                                                                                                                 |                        |                                      | Alliance Data Systems Company, 5.875, 11/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 1,822,362                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,100,000                                                                                                                                 |                        |                                      | Cardtronics, Inc., 5.125%, 8/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 3,146,500                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,260,000                                                                                                                                 |                        |                                      | First Data Corp., 7.0%, 12/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,336,230                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 6,305,092                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Application Software - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,430,000                                                                                                                                 |                        |                                      | Open Text Corp., 5.875%, 6/1/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 1,497,925                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 12,487,673                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Technology Hardware & Equipment - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Communications Equipment - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 512,000                                                                                                                                   |                        |                                      | CommScope Technologies Finance LLC, 6.0%, 6/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 545,603                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,475,000                                                                                                                                 |                        |                                      | CommScope, Inc., 5.0%, 6/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,513,719                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,059,322                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Computer Hardware - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 910,000                                                                                                                                   |                        |                                      | Diebold Nixdorf, Inc., 8.5%, 4/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 994,175                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electronic Components - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,000,000                                                                                                                                 |                        |                                      | Belden, Inc., 5.25%, 7/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,005,000                                                                                                                                         |                                                     |
| EURO                                                                                                                                                                                                                     | 1,095,000                                                                                                                                 |                        |                                      | Belden, Inc., 5.5%, 4/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,257,636                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,262,636                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 5,316,133                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Semiconductors & Semiconductor Equipment - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Semiconductors - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 670,000                                                                                                                                   |                        |                                      | Micron Technology, Inc., 5.25%, 8/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 671,675                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,225,000                                                                                                                                 |                        |                                      | Micron Technology, Inc., 5.5%, 2/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 3,241,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 520,000                                                                                                                                   |                        |                                      | Micron Technology, Inc., 5.625%, 1/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 520,780                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,433,580                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 4,433,580                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Telecommunication Services - 6.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Integrated Telecommunication Services - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,260,000                                                                                                                                 |                        |                                      | CenturyLink, Inc., 5.625%, 4/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 2,147,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 7,175,000                                                                                                                                 |                        |                                      | Frontier Communications Corp., 8.75%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 7,257,297                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   |                        |                                      | GCI, Inc., 6.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 515,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,665,000                                                                                                                                 |                        |                                      | GCI, Inc., 6.875%, 4/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 1,731,600                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,690,000                                                                                                                                 |                        |                                      | Windstream Services LLC, 7.75%, 10/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 3,768,412                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 15,419,309                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Wireless Telecommunication Services - 4.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,800,000                                                                                                                                 |                        |                                      | Altice Financing SA, 6.5%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 2,919,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 320,000                                                                                                                                   |                        |                                      | Altice Financing SA, 6.625%, 2/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 335,200                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 600,000                                                                                                                                   |                        |                                      | Altice Finco SA, 8.125%, 1/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 637,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 3,320,000                                                                                                                                 |                        |                                      | Digicel, Ltd., 6.0%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 3,095,236                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,050,000                                                                                                                                 |                        |                                      | Mobile Telesystems OJSC via MTS International Funding, Ltd., 5.0%, 5/30/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,080,513                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,825,000                                                                                                                                 |                        |                                      | MTN Mauritius Investment, Ltd., 5.373%, 2/13/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 4,877,173                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 5,965,000                                                                                                                                 |                        |                                      | Sprint Corp., 7.25%, 9/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 6,391,498                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,155,000                                                                                                                                 |                        |                                      | T-Mobile USA, Inc., 6.0%, 4/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,227,188                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,750,000                                                                                                                                 |                        |                                      | Unison Ground Lease Funding LLC, 5.78%, 3/16/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 2,721,510                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,470,000                                                                                                                                 |                        |                                      | VimpelCom Holdings BV, 7.5043%, 3/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 2,756,545                                                                                                                                         |                                                     |
| RUB                                                                                                                                                                                                                      | 124,400,000                                                                                                                               |                        |                                      | VimpelCom Holdings BV, 9.0%, 2/13/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 2,051,750                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 28,093,113                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 43,512,422                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Utilities - 4.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electric Utilities - 2.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,325,000                                                                                                                                 |                        |                                      | Centrais Eletricas Brasileiras SA, 5.75%, 10/27/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,334,540                                                                                                                                         |                                                     |
| EURO                                                                                                                                                                                                                     | 1,475,000                                                                                                                                 |                        |                                      | ContourGlobal Power Holdings SA, 5.125%, 6/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,679,430                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,325,000                                                                                                                                 | 5.25                        |                                      | Electricite de France SA, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 1,263,719                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,395,000                                                                                                                                 | 8.13                        |                                      | Enel S.p.A., Floating Rate Note, 9/24/73 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 2,730,300                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 47,408                                                                                                                                    |                        |                                      | FPL Energy National Wind Portfolio LLC, 6.125%, 3/25/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 47,408                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 1,425,000                                                                                                                                 |                        |                                      | Talen Energy Supply LLC, 4.625%, 7/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 1,378,688                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,660,000                                                                                                                                 |                        |                                      | Talen Energy Supply LLC, 6.5%, 6/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 3,762,950                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,715,000                                                                                                                                 |                        |                                      | TerraForm Power, 9.75%, 8/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 2,993,288                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 15,190,323                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Gas Utilities - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,133,000                                                                                                                                 |                        |                                      | DCP Midstream Operating LP, 5.6%, 4/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 1,938,364                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,850,000                                                                                                                                 |                        |                                      | Ferrellgas LP, 6.75%, 6/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 1,845,375                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,783,739                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Multi-Utilities - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 3,150,246                                                                                                                                 |                        |                                      | Ormat Funding Corp., 8.25%, 12/30/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 3,150,246                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Independent Power Producers & Energy Traders - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,195,000                                                                                                                                 |                        |                                      | Calpine Corp., 5.25%, 6/1/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 1,203,962                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 725,000                                                                                                                                   |                        |                                      | Calpine Corp., 5.75%, 1/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 708,688                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 940,000                                                                                                                                   |                        |                                      | Instituto Costarricense de Electricidad, 6.95%, 11/10/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 985,693                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 800,000                                                                                                                                   |                        |                                      | NRG Energy, Inc., 6.25%, 5/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    | 814,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,705,000                                                                                                                                 |                        |                                      | NRG Energy, Inc., 6.625%, 1/15/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,692,212                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,370,000                                                                                                                                 |                        |                                      | NRG Energy, Inc., 7.25%, 5/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1,433,362                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 500,000                                                                                                                                   |                        |                                      | Star Energy Geothermal Wayang Windu, Ltd., 6.125%, 3/27/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 514,500                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 205,000                                                                                                                                   |                        |                                      | TerraForm Power Operating LLC, 5.875%, 2/1/23 (Step) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 210,638                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 7,563,055                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 29,687,363                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $513,322,666)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 510,554,849                                                                                                                                       |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | U.S. GOVERNMENT AND AGENCY OBLIGATION - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 5,715,000                                                                                                                                 |                        |                                      | U.S. Treasury Bills, 2/23/17 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 5,713,366                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $5,713,376)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 5,713,366                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | FOREIGN GOVERNMENT BONDS - 6.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,845,000                                                                                                                                 |                        |                                      | Africa Finance Corp., 4.375%, 4/29/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 1,890,774                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,125,000                                                                                                                                 |                        |                                      | Argentine Republic Government International Bond, 6.875%, 1/26/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,113,750                                                                                                                                         |                                                     |
| BRL                                                                                                                                                                                                                      | 5,975,000                                                                                                                                 |                        |                                      | Brazilian Government International Bond, 10.25%, 1/10/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    | 1,883,795                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,650,000                                                                                                                                 |                        |                                      | City of Buenos Aires Argentina, 7.5%, 6/1/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,696,375                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,210,000                                                                                                                                 |                        |                                      | Ecuador Government International Bond, 10.5%, 3/24/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 1,321,925                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,453,158                                                                                                                                 | 6.63                        |                                      | EP PetroEcuador via Noble Sovereign Funding I, Ltd., Floating Rate Note, 9/24/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 1,481,785                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 690,000                                                                                                                                   |                        |                                      | Gabon Government International Bond, 6.375%, 12/12/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 633,427                                                                                                                                           |                                                     |
| GHS                                                                                                                                                                                                                      | 9,405,000                                                                                                                                 |                        |                                      | Ghana Government Bond, 24.5%, 4/22/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 2,291,155                                                                                                                                         |                                                     |
| GHS                                                                                                                                                                                                                      | 4,085,000                                                                                                                                 |                        |                                      | Ghana Government Bond, 24.75%, 7/19/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1,097,596                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 925,000                                                                                                                                   |                        |                                      | Honduras Government International Bond, 6.25%, 1/19/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 918,525                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 900,000                                                                                                                                   |                        |                                      | Jordan Government International Bond, 5.75%, 1/31/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 857,826                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 2,175,000                                                                                                                                 |                        |                                      | Kenya Government International Bond, 5.875%, 6/24/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 2,248,841                                                                                                                                         |                                                     |
| MXN                                                                                                                                                                                                                      | 75,538,895                                                                                                                                |                        |                                      | Mexican Udibonos, 2.0%, 6/9/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 3,478,253                                                                                                                                         |                                                     |
| MXN                                                                                                                                                                                                                      | 9,668,619                                                                                                                                 |                        |                                      | Mexican Udibonos, 3.5%, 12/14/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 473,256                                                                                                                                           |                                                     |
| EURO                                                                                                                                                                                                                     | 1,915,000                                                                                                                                 |                        |                                      | Mexico Government International Bond, 4.0%, 3/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,664,929                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,415,000                                                                                                                                 |                        |                                      | Namibia International Bonds, 5.25%, 10/29/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 1,403,793                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,402,406                                                                                                                                 |                        |                                      | Province of Salta Argentina, 9.5%, 3/16/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 1,458,502                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,380,000                                                                                                                                 |                        |                                      | Provincia de Buenos Aires Argentina, 9.125%, 3/16/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,504,200                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 4,015,000                                                                                                                                 |                        |                                      | Provincia del Chubut Argentina, 7.75%, 7/26/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 3,938,153                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 1,300,000                                                                                                                                 |                        |                                      | Republic of Argentina Government Bond, 6.625%, 7/6/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    | 1,249,300                                                                                                                                         |                                                     |
| RON                                                                                                                                                                                                                      | 8,220,000                                                                                                                                 |                        |                                      | Romania Government Bond, 5.85%, 4/26/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 2,232,624                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 2,575,000                                                                                                                                 |                        |                                      | Turkey Government International Bond, 6.0%, 3/25/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 2,596,125                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 38,434,909                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $41,071,522)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 38,434,909                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | MUNICIPAL BONDS - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Municipal Development - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 955,000                                                                                                                                   | 0.60                        |                                      | Mississippi Business Finance Corp., Floating Rate Note, 12/1/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 955,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Municipal General - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 8,875,000                                                                                                                                 | 0.00                        |                                      | Non-Profit Preferred Funding Trust I, Floating Rate Note, 9/15/37 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 564,539                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Higher Municipal Education - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 160,000                                                                                                                                   | 0.45                        |                                      | Connecticut State Health & Educational Facility Authority, Floating Rate Note, 7/1/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 160,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Municipal Medical - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 555,000                                                                                                                                   | 0.62                        |                                      | Harris County Health Facilities Development Corp., Floating Rate Note, 12/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            | $                                                                                                       | 555,000                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,660,000                                                                                                                                 | 0.62                        |                                      | Harris County Health Facilities Development Corp., Floating Rate Note, 12/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,660,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 2,215,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Municipal Tobacco - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 195,000                                                                                                                                   |                        |                                      | Buckeye Tobacco Settlement Financing Authority, 5.75%, 6/1/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 176,914                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,960,000                                                                                                                                 |                        |                                      | Buckeye Tobacco Settlement Financing Authority, 5.875%, 6/1/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 1,790,950                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 375,000                                                                                                                                   |                        |                                      | Buckeye Tobacco Settlement Financing Authority, 6.0%, 6/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 344,565                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,155,000                                                                                                                                 |                        |                                      | Golden State Tobacco Securitization Corp., 5.125%, 6/1/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 1,074,173                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 80,000                                                                                                                                    |                        |                                      | Michigan Tobacco Settlement Finance Authority, 6.0%, 6/1/48                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 73,404                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     | 1,400,000                                                                                                                                 |                        |                                      | Tobacco Settlement Financing Corp. New Jersey, 5.0%, 6/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 1,251,642                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 55,000                                                                                                                                    |                        |                                      | Tobacco Settlement Financing Corp. Virginia, 5.0%, 6/1/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 48,204                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 4,759,852                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $16,670,133)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 8,654,391                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | SENIOR FLOATING RATE LOAN INTERESTS - 3.7%**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Energy - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Oil & Gas Exploration & Production - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,013,697                                                                                                                                 | 9.75                        |                                      | EP Energy LLC, Loan, 6/30/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 2,091,728                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Coal & Consumable Fuels - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,034,769                                                                                                                                 | 8.15                        |                                      | Long Haul Holdings, Ltd., Facility B Loan, 11/17/13 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 165,563                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 2,257,291                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Materials - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Metals & Mining - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 131,363                                                                                                                                   | 3.75                        |                                      | Fortescue Metals Group Ltd., Bank Loan, 6/30/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 132,293                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Steel - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,990,000                                                                                                                                 | 6.00                        |                                      | Zekelman Industries, Inc., Term Loan, 6/8/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 2,014,254                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 2,146,547                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Capital Goods - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Aerospace & Defense - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,100,000                                                                                                                                 | 7.75                        |                                      | DynCorp International, Inc., Term Loan B2, 7/7/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 2,112,249                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            | $                                                                                                       | 2,112,249                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Commercial Services & Supplies - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Diversified Support Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 490,817                                                                                                                                   | 4.96                        |                                      | IAP Worldwide Services, Inc., Term Loan, 7/18/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            | $                                                                                                       | 466,276                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 466,276                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automobiles & Components - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Auto Parts & Equipment - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,777                                                                                                                                     | 3.28                        |                                      | Allison Transmission, Inc., Term B-3 Loan, 8/23/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,797                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,797                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Media - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Advertising - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,132,683                                                                                                                                 | 6.75                        |                                      | Affinion Group, Inc., Tranche B Term Loan, 4/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 2,129,731                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       | 2,129,731                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Retailing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Automotive Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,402,335                                                                                                                                 | 4.52                        |                                      | CWGS Group LLC, Term Loan, 11/3/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 1,414,606                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 1,414,606                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Household & Personal Products - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Household Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,697,344                                                                                                                                 | 8.57                        |                                      | Redbox Automated Retail LLC, Term Loan (First Lien), 9/28/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 1,671,884                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Personal Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 798,000                                                                                                                                   | 4.31                        |                                      | Revlon Consumer Products Corp., Initial Term B Loan, 7/22/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 806,025                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            | $                                                                                                       | 2,477,909                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Equipment & Services - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,001,746                                                                                                                                 | 4.25                        |                                      | Alliance HealthCare Services, Inc., Initial Term Loan, 6/3/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       | 992,981                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 663,089                                                                                                                                   | 6.50                        |                                      | BioScrip, Inc., Initial Term B Loan, 7/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    | 643,196                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 397,853                                                                                                                                   | 6.50                        |                                      | BioScrip, Inc., Term Loan, 7/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 385,918                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 1,313,333                                                                                                                                 | 4.50                        |                                      | National Surgical Hospitals, Inc., Term Loan (First Lien), 5/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    | 1,317,437                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     | 3,030,000                                                                                                                                 | 0.00                        |                                      | TeamHealth, Inc., 1st Lien Bridge Loan, 10/31/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    | 3,030,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 6,369,532                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Health Care Facilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 601,874                                                                                                                                   | 10.25                       |                                      | MMM Holdings, Inc., Term Loan, 10/9/17 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 592,846                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Managed Health Care - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 437,559                                                                                                                                   | 10.25                       |                                      | MSO of Puerto Rico, Inc., MSO Term Loan, 12/12/17 (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 430,996                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 7,393,374                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Pharmaceuticals, Biotechnology & Life Sciences - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Biotechnology - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 2,587,429                                                                                                                                 | 7.00                        |                                      | Lantheus Medical Imaging, Inc., Initial Term Loan, 6/25/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            | $                                                                                                       | 2,590,016                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            | $                                                                                                       | 2,590,016                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Utilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Electric Utilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 162,500                                                                                                                                   | 5.00                        |                                      | Vistra Operations Co LLC, Initial Term C Loan, 8/4/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 163,333                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     | 712,500                                                                                                                                   | 5.00                        |                                      | Vistra Operations Co LLC, Initial Term Loan, 8/4/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                        |              |            |                                                                                                    | 716,152                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       | 879,485                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                        |              |            | $                                                                                                       | 879,485                                                                                                                                           |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $24,151,433)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 23,869,281                                                                                                                                        |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TEMPORARY CASH INVESTMENTS - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Repurchase Agreement - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 5,000,000                                                                                                                                 |                        |                                      | $5,000,000 TD Securities USA LLC, 0.52%, dated 1/31/17 plus accrued interest on 2/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | collateralized by $5,100,001 Federal National Mortgagte Association, 3.0%, 12/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       | 5,000,000                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Certificate of Deposit - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 1,695,000                                                                                                                                 | 1.26                        |                                      | Sumitomo Mitsui, Floating Rate Note, 11/1/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            | $                                                                                                       | 1,696,147                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL TEMPORARY CASH INVESTMENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $6,695,000)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            | $                                                                                                       | 6,696,147                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | RIGHTS/WARRANTS - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | 7,415                                                                                                                                     |                        |                                      | Midstates Petroleum Co., Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            | $                                                                                                       |                         - |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL RIGHTS/WARRANTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $0)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       |                         - |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | Number of Contracts                                                                                                                       |                        | Description                               | Counterparty                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | StrikePrice                 | ExpirationDate    |            |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | CALL OPTIONS PURCHASED - 0.0%+                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| MXN                                                                                                                                                                                                                      | 297,012 (i)                                                                                                                               |                        |                                      | Desarrolladora Homex SAB de CV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Bank of New YorkMellon Corp | $- (k)            | 10/23/22        | $                                                                                                       |                         - |                                                     |
| MXN                                                                                                                                                                                                                      | 297,012 (j)                                                                                                                               |                        |                                      | Desarrolladora Homex SAB de CV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Bank of New YorkMellon Corp | - (k)             | 10/23/22        |                                                                                                    |                         - |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            | $                                                                                                       |                         - |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL CALL OPTIONS PURCHASED                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Premiums paid $0)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            | $                                                                                                       |                         - |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL INVESTMENT IN SECURITIES - 99.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            | $                                                                                                       | 636,691,449                                                                                                                                       |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | (Cost $661,687,788) (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | OTHER ASSETS & LIABILITIES - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            | $                                                                                                       | 3,412,034                                                                                                                                         |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       | 640,103,483                                                                                                                                       |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | *                                                                                                                                         |                        |                                      | Non-income producing security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | +                                                                                                                                         |                        |                                      | Amount rounds to less than 0.1%.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | REIT                                                                                                                                      |                        |                                      | Real Estate Investment Trust.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (Perpetual)                                                                                                                               |                        |                                      | Security with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (PIK)                                                                                                                                     |                        |                                      | Represents a pay-in-kind security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (Cat Bond)                                                                                                                                |                        |                                      | Catastrophe or event linked bond.  At January 31, 2017 the value of these securities amounted to $3,515,767 or 0.6% of total                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | net assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | REMICS                                                                                                                                    |                        |                                      | Real Estate Mortgage Investment Conduits.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (Step)                                                                                                                                    |                        |                                      | Bond issued with an initial coupon rate which converts to a higher rate at a later date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | **                                                                                                                                        |                        |                                      | Senior floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically redetermined by reference to a base lending rate plus a premium.  These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR (London InterBank Offered Rate), (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders.  The rate shown is the coupon rate at period end. |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (144A)                                                                                                                                    |                        |                                      | Security is exempt from registration under Rule 144A of the Securities Act of 1933.  Such securities may be resold normally to qualified institutional buyers in a transaction exempt from registration.  At January 31, 2017, the value of these securities amounted to $335,755,948 or 52.5% of total net assets.                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (a)                                                                                                                                       |                        |                                      | At January 31, 2017, the net unrealized depreciation on investments based on                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | cost for federal income tax purposes of $661,687,788 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Aggregate gross unrealized appreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            | $                                                                                                       |             31,485,903                                                                |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Aggregate gross unrealized depreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |           (56,482,242)                                                                          |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Net unrealized depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            | $                                                                                                       |           (24,996,339)                                                                          |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (b)                                                                                                                                       |                        |                                      | Debt obligation with a variable interest rate.  Rate shown is rate at end of period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (c)                                                                                                                                       |                        |                                      | Security issued with a zero coupon. Income is recognized through accretion of discount.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (d)                                                                                                                                       |                        |                                      | Security is in default.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (e)                                                                                                                                       |                        |                                      | Security is valued using fair value methods (other than prices supplied by independent pricing services or broker dealers).                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (f)                                                                                                                                       |                        |                                      | Structured reinsurance investment.  At January 31, 2017, the value of these securities amounted to $12,786,626 or 2.0% of total                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | net assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (g)                                                                                                                                       |                        |                                      | Rate to be determined.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (h)                                                                                                                                       |                        |                                      | Distributions of investments by country of domicile (excluding temporary cash investments) as a percentage of total investment in securities, is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | United States                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    | 56.1%                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Luxembourg                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                        |              |            |                                                                                                    | 6.5%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | United Kingdom                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    | 4.3%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Netherlands                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    | 4.2%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Mexico                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 3.0%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Argentina                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    | 2.6%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Bermuda                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 2.3%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Canada                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1.9%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | France                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                        |              |            |                                                                                                    | 1.9%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Ireland                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                        |              |            |                                                                                                    | 1.8%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Peru                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 1.3%                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | Other (individually less than 1%)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    | 14.1%                                                                                                                                             |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    | 100.0%                                                                                                                                            |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (i)                                                                                                                                       |                        |                                      | Option does not become effective until underlying company’s outstanding common shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | reach a market capitalization of MXN 12.5 Billion.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (j)                                                                                                                                       |                        |                                      | Option does not become effective until underlying company’s outstanding common shares                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      | reach a market capitalization of MXN 15.5 Billion.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | (k)                                                                                                                                       |                        |                                      | Strike price is 1 Mexican Peso (MXN).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | NOTE:                                                                                                                                     |                        |                                      | Principal amounts are denominated in U.S. Dollars unless otherwise noted:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | AUD                         |                                      | Australian Dollar                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | BRL                         |                                      | Brazilian Real                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | EUR                         |                                      | Euro                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | GBP                         | British Pound Sterling                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      | GHS                         |                                      | Ghanian Cedis                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | IDR                         |                                      | Indonesian Rupiah                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | INR                         | Indian Rupee                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      | JPY                         |                                      | Japanese Yen                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      | MXN                         | Mexican Peso                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      | NOK                         | Norwegian Krone                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      | RON                         | Romanian Leu                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      | RUB                         | Russian Ruble                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS — SELL PROTECTION                                                                                                                                                 |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     | Notional Principal ($) (1)                                                                                                                | Exchange                    |                                      | Obligation Entity/Index                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Coupon                      | Credit Rating (2) | Expiration Date | Premiums Received(Paid)                                                                                 | Unrealized Appreciation                                                                                                                           |
|                                                                                                                                                                                                                     |                   4,370,850                     | Chicago Mercentile Exchange | Markit CDX North America High Yield Index | 5.00%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | BBB+                        | 12/20/20          |            |  $              (33,704)     |  $         332,125                                                                              |
|                                                                                                                                                                                                                     |                   3,310,000                     | Chicago Mercentile Exchange | Markit CDX North America High Yield Index | 5.00%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | BBB+                        | 6/20/21           |            |                 142,463 |               88,079                                                        |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |  $           108,759                                                                  |  $       420,204 |
|          (1)                                                                                                                                                                | The notional amount is the maximum amount that a seller of credit protection would be obligated to pay upon occurrence of a credit event. |                        |                                      |
|          (2)                                                                                                                                                                | Based on Standard & Poor's rating of the issuer or weighted average of all the underlying securities of the index.                    |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| Various inputs are used in determining the value of the Fund's investments.  These inputs are summarized in the three broad levels listed below.                                                               |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| Level 1 – quoted prices in active markets for identical securities.                                                                                                                                                |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |
| Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)  See Notes to Financial Statements — Note 1A. |
| Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)  See Notes to Financial Statements — Note 1A.                            |                                                                                                                                      |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |
| The following is a summary of the inputs used as of January 31, 2017, in valuing the Fund's investments:                                                                                                                 |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |
|                                                                                                                                                                                                                     |                                                                                                                                      |                        |                                      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                        |              |            |                                                                                                    |                                                                                                                                              |                                                     |

|                                                                                              |   |                                                               |                                                                                                                                                                          | Level 1 |          |       | Level 2 |                        |        | Level 3    |            |   | Total      |        |
|---------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|---------------|------------|---------|-----------------------------|-------------|------------|-----------------|--------|------------|-------------|
|                                                                                              |   | Convertible Corporate Bonds                                        |                                                                                                                                                                          | $       | -             |       |    | $                           | 19,433,274  |       |            | $      | -          |        |   | $ | 19,433,274 |   |
|                                                                                              |   | Preferred Stocks                                                   |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |   Transportation                                         |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Air Freight & Logistics                |                                                                                                                                                                          |    | -             |       |    |                        | 685,634     |       |            |   | -          |        |   |   | 685,634 |   |
|                                                                                              |   |   Diversified Financials                                 |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Consumer Finance                           |                                                                                                                                                                          |    | 2,490,947     |       |    |                        |        |       |            |   |       |        |   |   | 2,490,947 |   |
|                                                                                              |   | Convertible Preferred Stocks                                       |                                                                                                                                                                          |    | 3,138,002     |       |    |                        | -           |       |            |   | -          |        |   |   | 3,138,002 |   |
|                                                                                              |   | Common Stock                                                       |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |   Energy                                                 |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Oil & Gas Exploration & Production |                                                                                                                                                                          |    | 1,606,972     |       |    |                        | 745,569     |       |            |   | -          |        |   |   | 2,352,541 |   |
|                                                                                              |   |   Capital Goods                                          |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Industrial Machinery                       |                                                                                                                                                                          |    | -             |       |    |                        | -           |       |            |   | 1,560      |        |   |   | 1,560 |   |
|                                                                                              |   |   Commercial Services & Supplies                     |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Diversified Support Services               |                                                                                                                                                                          |    | -             |       |    |                        | 84,949      |       |            |   | -          |        |   |   | 84,949 |   |
|                                                                                              |   |   Transportation                                         |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Air Freight & Logistics                |                                                                                                                                                                          |    | -             |       |    |                        | 197,956     |       |            |   | -          |        |   |   | 197,956 |   |
|                                                                                              |   |   Consumer Services                                      |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Education Services                         |                                                                                                                                                                          |    | -             |       |    |                        | 143,650     |       |            |   | -          |        |   |   | 143,650 |   |
|                                                                                              |   |   All Other Common Stock                                 |                                                                                                                                                                          |    | 2,089,242     |       |    |                        | -           |       |            |   | -          |        |   |   | 2,089,242 |   |
|                                                                                              |   | Asset Backed Securities                                            |                                                                                                                                                                          |    | -             |       |    |                        | 1,652,124   |       |            |   | -          |        |   |   | 1,652,124 |   |
|                                                                                              |   | Collateralized Mortgage Obligations                                |                                                                                                                                                                          |    | -             |       |    |                        | 10,498,627  |       |            |   | -          |        |   |   | 10,498,627 |   |
|                                                                                              |   | Corporate Bonds                                                    |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |   Insurance                                              |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              |   |     Reinsurance                                |                                                                                                                                                                          |    | -             |       |    |                        | 2,616,767   |       |            |   | 13,685,626 |        |   |   | 16,302,393 |   |
|                                                                                              |   |   All Other Corporate Bonds                              |                                                                                                                                                                          |    | -             |       |    |                        | 494,252,456 |       |            |   | -          |        |   |   | 494,252,456 |   |
|                                                                                              |   | U.S. Government and Agency Obligation                              |                                                                                                                                                                          |    | -             |       |    |                        | 5,713,366   |       |            |   | -          |        |   |   | 5,713,366 |   |
|                                                                                              |   | Foreign Government Bonds                                           |                                                                                                                                                                          |    | -             |       |    |                        | 38,434,909  |       |            |   | -          |        |   |   | 38,434,909 |   |
|                                                                                              |   | Municipal Bonds                                                    |                                                                                                                                                                          |    | -             |       |    |                        | 8,654,391   |       |            |   | -          |        |   |   | 8,654,391 |   |
|                                                                                              |   | Senior Floating Rate Loan Interests                                |                                                                                                                                                                          |    | -             |       |    |                        | 23,869,281  |       |            |   | -          |        |   |   | 23,869,281 |   |
|                                                                                              |   | Repurchase Agreement                                               |                                                                                                                                                                          |    | -             |       |    |                        | 5,000,000   |       |            |   | -          |        |   |   | 5,000,000 |   |
|                                                                                              |   | Certificate of Deposit                                             |                                                                                                                                                                          |    | -             |       |    |                        | 1,696,147   |       |            |   | -          |        |   |   | 1,696,147 |   |
|                                                                                              |   | Rights/Warrants*                                                   |                                                                                                                                                                          |    | -             |       |    |                        | -           |       |            |   | -          |        |   |   | - |   |
|                                                                                              |   | Call Option Purchased*                                             |                                                                                                                                                                          |    | -             |       |    |                        | -           |       |            |   | -          |        |   |   | - |   |
|                                                                                              |   | Total                                                              |                                                                                                                                                                          | $       | 9,325,163     |       |    | $                           | 613,679,100 |       |            | $      | 13,687,186 |        |   | $ | 636,691,449 |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |
|                                                                                              | *      |                                                               | Security valued at $0.                                                                                                                                                        |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | Other Financial Instruments                                                                                                                                                   |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | Unrealized appreciation on swap contracts                                                                                                                                     |    | $             | -          |    |                        | $           | 420,204    |            |   | $          | -           |   |   | $ | 420,204 |   |
|                                                                                              |   |                                                               | Total Other Financial Instruments                                                                                                                                             |    | $             | -          |    |                        | $           | 420,204    |            |   | $          | -           |   |   | $ | 420,204 |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
| The following is a reconciliation of assets valued using significant observable inputs (Level 3): |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    | Common Stocks |       |    | Convertible Corporate Bonds |        |       | Corporate Bonds |   |       | Total       |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | Balance as of 10/31/16                                                                                                                                                        |    | $             | 4,300,699  |    |                        | $           | 346,412    |            |   | $          | 27,598,609  |   |   | $ | 32,245,720 |   |
|                                                                                              |   |                                                               | Realized gain (loss)1                                                                                                                                                         |    |          | (2,417,743 | )       |                        |        | (3,729,029 | )               |   |       | 5,450       |   |   |   | (6,141,322 | ) |
|                                                                                              |   |                                                               | Change in unrealized appreciation (depreciation)2                                                                                                                             |    |          | 2,584,216  |    |                        |        | 3,729,029  |            |   |       | 59,334      |   |   |   | 6,372,579 |   |
|                                                                                              |   |                                                               | Purchases                                                                                                                                                                     |    |          | -          |    |                        |        | -          |            |   |       | 5,632,086   |   |   |   | 5,632,086 |   |
|                                                                                              |   |                                                               | Sales                                                                                                                                                                         |    |          | (4,465,612 | )       |                        |        | (346,412   | )               |   |       | (19,609,853 | ) |   |   | (24,421,877 | ) |
|                                                                                              |   |                                                               | Transfers in to Level 3*                                                                                                                                                      |    |          | -          |    |                        |        | -          |            |   |       | -           |   |   |   | - |   |
|                                                                                              |   |                                                               | Transfers out of Level 3*                                                                                                                                                     |    |          | -          |    |                        |        | -          |            |   |       | -           |   |   |   | - |   |
|                                                                                              |   |                                                               | Transfers in and out of Level 3 categories*                                                                                                                                   |    |          | -          |    |                        |        | -          |            |   |       | -           |   |   |   | - |   |
|                                                                                              |   |                                                               | Balance as of 1/31/17                                                                                                                                                         |    | $             | 1,560      |    |                        | $           | -          |            |   | $          | 13,685,626  |   |   | $ | 13,687,186 |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              | 1      |                                                               | Realized gain (loss) on these securities is included in the net realized gain (loss) from investments in the Statement of Operations.                                         |    |          |       |    |                        |        |       |            |   |       |        |   |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              | 2      |                                                               | Unrealized appreciation (depreciation) on these securities is included in the change in unrealized appreciation (depreciation) on investments in the Statement of Operations. |    |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              | *      |                                                               | Transfers are calculated on the beginning of period values.  During the period ended January 31, 2017, there were                                                   |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | no transfers between Levels 1, 2 and 3.                                                                                                                                       |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               |                                                                                                                                                                          |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | Net change in unrealized appreciation (depreciation) of investments                                                                                                           |    |          |       |    |                        |        |       |            |   |       |        |   |   |   |   |   |
|                                                                                              |   |                                                               | still held as of 1/31/17                                                                                                                                                      |    | $             | 129,226    |    |                        |        |       |            |   |       |        |   |   |   |   |   |