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                                                             OMB APPROVAL
                                                     OMB Number:       3235-0578
                                                     Expires:  April 30, 2013
                                                     Estimated average burden
                                                     hours per response.....
                                                     5.6

                                 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 811-21781

                     Pioneer Series Trust IV
               (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:  July 31

Date of reporting period:  April 30, 2013

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.
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|                                                                                                                                                             |                 |             |                                                                                                                                 | Pioneer Multi-Asset Income Fund                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|------------------|--------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|------------|
|                                                                                                                                                             |                 |             |                                                                                                                                 | Schedule of Investments 4/30/13 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | Principal Amount ($) | FloatingRate (b) | S&P/Moody'sRatings                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Value   |
|                                                                                                                                                             |                 |             |                                                                                                                                 | CONVERTIBLE CORPORATE BONDS - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Energy - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Drilling - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 100,000              |             | NR/NR                                                                                                                                | Vantage Drilling Co., 7.875%, 9/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 113,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 113,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Capital Goods - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Construction & Farm Machinery & Heavy Trucks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 125,000              |             | B-/NR                                                                                                                                | Meritor, Inc., 7.875%, 3/1/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 140,859    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 140,859    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Financials - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Asset Management & Custody Banks - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 15,000               |             | BBB/NR                                                                                                                               | Apollo Investment Corp., 5.75%, 1/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 16,003     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 16,003     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Software & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Internet Software & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 50,000               |             | NR/NR                                                                                                                                | Blucora, Inc., 4.25%, 4/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 51,312     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 51,312     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL CONVERTIBLE CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $276,240)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 321,424    |
|                                                                                                                                                             | Shares               |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | PREFERRED STOCKS - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Media - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Broadcasting - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 5,751                |             |                                                                                                                                 | ProSiebenSat.1 Media AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 220,126    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 220,126    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Regional Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 1,000                | 6.25             | A-/NR                                                                                                                                | CoBank ACB, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 107,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 107,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Reinsurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 150,000              | 0.00             | NR/NR                                                                                                                                | Altair RE, Floating Rate Note, 4/30/16 (Cat Bond)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 150,720    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 150,720    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Utilities - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electric Utilities - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 10,000               |             | BB+/Ba1                                                                                                                              | PPL Capital Funding, Inc., 5.9%, 4/30/73                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 262,400    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 262,400    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $696,220)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 740,746    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | COMMON STOCKS - 46.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Energy - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Integrated Oil & Gas - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 49,944               |             |                                                                                                                                 | BP Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 361,878    |
|                                                                                                                                                             | 29,700               |             |                                                                                                                                 | PTT PCL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 330,733    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 692,611    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 692,611    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Materials - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Paper Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 4,932                |             |                                                                                                                                 | International Paper Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 231,705    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 231,705    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Capital Goods - 3.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Aerospace & Defense - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 3,071                |             |                                                                                                                                 | Lockheed Martin Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 304,305    |
|                                                                                                                                                             | 17,332               |             |                                                                                                                                 | Raytheon Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 1,063,838  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 1,368,143  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Construction & Engineering - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 17,625               |             |                                                                                                                                 | Bouygues SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 492,531    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electrical Components & Equipment - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 630                  |             |                                                                                                                                 | Rockwell Automation, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 53,411     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Industrial Conglomerates - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 2,772                |             |                                                                                                                                 | 3M Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 290,256    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 2,204,341  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Commercial Services & Supplies - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Commercial Printing - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 20,976               |             |                                                                                                                                 | Transcontinental, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 269,993    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 269,993    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Transportation - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Air Freight & Logistics - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 2,768                |             |                                                                                                                                 | Oesterreichische Post AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 122,754    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Railroads - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             | 1,595                |             |                                                                                                                                 | Norfolk Southern Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 123,485    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Highways & Railtracks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             | 416,400              |             |                                                                                                                                 | Yuexiu Transport Infrastructure, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 214,288    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 460,527    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Automobiles & Components - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Tires & Rubber - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 5,129                |             |                                                                                                                                 | Pirelli & C. S.p.A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 53,226     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Automobile Manufacturers - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 1,080                |             |                                                                                                                                 | Volkswagen AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 209,768    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 262,994    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Casinos & Gaming - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 292,800              |             |                                                                                                                                 | NagaCorp, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 234,079    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 234,079    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Media - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Movies & Entertainment - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 3,664                |             |                                                                                                                                 | Time Warner, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 219,034    |
|                                                                                                                                                             | 1,294                |             |                                                                                                                                 | Viacom, Inc. (Class B)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 82,803     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 301,837    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Publishing - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 4,023                |             |                                                                                                                                 | Axel Springer AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 169,415    |
|                                                                                                                                                             | 149,000              |             |                                                                                                                                 | Singapore Press Holdings, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 539,480    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 708,895    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 1,010,732  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Food & Staples Retailing - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Drug Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 3,300                |             |                                                                                                                                 | Walgreen Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 163,383    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Food Distributors - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 32,401               |             |                                                                                                                                 | Metcash, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 137,380    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 300,763    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Food, Beverage & Tobacco - 2.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Brewers - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 2,020                |             |                                                                                                                                 | Molson Coors Brewing Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 104,232    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Soft Drinks - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 11,245               |             |                                                                                                                                 | PepsiCo, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 927,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Packaged Foods & Meats - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 3,738                |             |                                                                                                                                 | Nestle SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 267,126    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Tobacco - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 5,301                |             |                                                                                                                                 | Imperial Tobacco Group Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 189,504    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 1,488,237  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Pharmaceuticals, Biotechnology & Life Sciences - 7.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Pharmaceuticals - 7.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 13,062               |             |                                                                                                                                 | AstraZeneca Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 678,132    |
|                                                                                                                                                             | 15,168               |             |                                                                                                                                 | GlaxoSmithKline Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 391,218    |
|                                                                                                                                                             | 5,070                |             |                                                                                                                                 | Johnson & Johnson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 432,116    |
|                                                                                                                                                             | 25,572               |             |                                                                                                                                 | Merck & Co., Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 1,201,891  |
|                                                                                                                                                             | 10,575               |             |                                                                                                                                 | Novartis AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 786,339    |
|                                                                                                                                                             | 32,205               |             |                                                                                                                                 | Pfizer, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 936,199    |
|                                                                                                                                                             | 1,978                |             |                                                                                                                                 | Roche Holding AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 495,237    |
|                                                                                                                                                             | 2,771                |             |                                                                                                                                 | Sanofi                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 297,327    |
|                                                                                                                                                             | 5,400                |             |                                                                                                                                 | Takeda Pharmaceutical Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 296,627    |
|                                                                                                                                                             | 4,674                |             |                                                                                                                                 | Teva Pharmaceutical Industries, Ltd. (A.D.R.)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 178,967    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 5,694,053  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 5,694,053  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Banks - 5.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Banks - 4.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 68,470               |             |                                                                                                                                 | Banco Santander SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 494,550    |
|                                                                                                                                                             | 1,586,600            |             |                                                                                                                                 | Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 199,323    |
|                                                                                                                                                             | 154,771              |             |                                                                                                                                 | Commercial Bank of Ceylon Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 140,438    |
|                                                                                                                                                             | 105,348              |             |                                                                                                                                 | First Gulf Bank PJSC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 427,455    |
|                                                                                                                                                             | 2,479,408            |             |                                                                                                                                 | Guaranty Trust Bank Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 402,511    |
|                                                                                                                                                             | 187,531              |             |                                                                                                                                 | Intesa Sanpaolo S.p.A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 341,901    |
|                                                                                                                                                             | 2,945                |             |                                                                                                                                 | National Australia Bank, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 103,862    |
|                                                                                                                                                             | 208,250              |             |                                                                                                                                 | National Development Bank Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 277,642    |
|                                                                                                                                                             | 1,431                |             |                                                                                                                                 | Royal Bank of Canada                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 86,316     |
|                                                                                                                                                             | 77,461               |             |                                                                                                                                 | Sampath Bank Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 132,031    |
|                                                                                                                                                             | 5,073                |             |                                                                                                                                 | Standard Chartered Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 127,683    |
|                                                                                                                                                             | 4,800                |             |                                                                                                                                 | Sumitomo Mitsui Financial Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 227,217    |
|                                                                                                                                                             | 9,618                |             |                                                                                                                                 | Swedbank AB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 237,028    |
|                                                                                                                                                             | 902                  |             |                                                                                                                                 | The Toronto-Dominion Bank                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 73,931     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 3,271,888  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Regional Banks - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 29,681               |             |                                                                                                                                 | KeyCorp                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 295,920    |
|                                                                                                                                                             | 1,980                |             |                                                                                                                                 | The PNC Financial Services Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 134,402    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 430,322    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 3,702,210  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Financials - 3.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Specialized Finance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 8,169                |             |                                                                                                                                 | Deutsche Boerse AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 509,578    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Asset Management & Custody Banks - 2.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 46,378               |             |                                                                                                                                 | Ares Capital Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 842,224    |
|                                                                                                                                                             | 14,321               |             |                                                                                                                                 | Blackstone Group LP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 294,297    |
|                                                                                                                                                             | 20,312               |             |                                                                                                                                 | Golub Capital BDC, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 358,101    |
|                                                                                                                                                             | 8,314                |             |                                                                                                                                 | TCP Capital Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 130,280    |
|                                                                                                                                                             | 14,750               |             |                                                                                                                                 | The Carlyle Group LP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 479,080    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 2,103,982  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 2,613,560  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Insurance - 2.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Life & Health Insurance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 34,035               |             |                                                                                                                                 | CNP Assurances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 481,826    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Multi-line Insurance - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 2,354                |             |                                                                                                                                 | Allianz SE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 347,106    |
|                                                                                                                                                             | 449                  |             |                                                                                                                                 | Zurich Insurance Group AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 125,518    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 472,624    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Reinsurance - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 3,300                |             |                                                                                                                                 | Muenchener Rueckversicherungs AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 659,792    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 1,614,242  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Real Estate - 3.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Industrial REIT's - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 188,000              |             |                                                                                                                                 | AIMS AMP Capital Industrial Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 277,876    |
|                                                                                                                                                             | 201,289              |             |                                                                                                                                 | Cache Logistics Trust (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 231,061    |
|                                                                                                                                                             | 186,944              |             |                                                                                                                                 | Cambridge Industrial Trust (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 129,737    |
|                                                                                                                                                             | 249,043              |             |                                                                                                                                 | Mapletree Industrial Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 317,384    |
|                                                                                                                                                             | 288,300              |             |                                                                                                                                 | Mapletree Logistics Trust (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 306,576    |
|                                                                                                                                                             | 115,950              |             |                                                                                                                                 | Sabana Shari'ah Compliant Industrial Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 128,483    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 1,391,117  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Mortgage REIT's - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 62,962               |             |                                                                                                                                 | MFA Financial, Inc. (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 583,658    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Real Estate Operating Companies - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 1,886                |             |                                                                                                                                 | Swiss Prime Site AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 154,710    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Real Estate Development - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 42,743               |             |                                                                                                                                 | Emaar Properties PJSC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 65,351     |
|                                                                                                                                                             | 333,600              |             |                                                                                                                                 | Mah Sing Group Bhd                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 249,027    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 314,378    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 2,443,863  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Software & Services - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Systems Software - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 31,177               |             |                                                                                                                                 | Microsoft Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 1,031,959  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 1,031,959  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Technology Hardware & Equipment - 2.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Communications Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 8,094                |             |                                                                                                                                 | Cisco Systems, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 169,326    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Computer Hardware - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 2,596                |             |                                                                                                                                 | Apple, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 1,149,379  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electronic Components - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 24,700               |             |                                                                                                                                 | Hoya Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 494,478    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Office Electronics - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 3,200                |             |                                                                                                                                 | Canon, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 115,098    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 1,928,281  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Semiconductors & Semiconductor Equipment - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Semiconductors - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 38,555               |             |                                                                                                                                 | Intel Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 923,392    |
|                                                                                                                                                             | 2,367                |             |                                                                                                                                 | Maxim Integrated Products, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 73,211     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 996,603    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 996,603    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Telecommunication Services - 4.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Integrated Telecommunication Services - 3.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 10,889               |             |                                                                                                                                 | AT&T, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 407,902    |
|                                                                                                                                                             | 89,000               |             |                                                                                                                                 | PCCW, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 45,419     |
|                                                                                                                                                             | 30,674               |             |                                                                                                                                 | Singapore Telecommunications, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 97,872     |
|                                                                                                                                                             | 214,320              |             |                                                                                                                                 | Telecom Corp of New Zealand, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 477,980    |
|                                                                                                                                                             | 785,435              |             |                                                                                                                                 | Telecom Italia S.p.A.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 547,414    |
|                                                                                                                                                             | 15,655               |             |                                                                                                                                 | Verizon Communications, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 843,961    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 2,420,548  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Wireless Telecommunication Services - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 323,480              |             |                                                                                                                                 | Vodafone Group Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 987,846    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 3,408,394  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Utilities - 4.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electric Utilities - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 12,420               |             |                                                                                                                                 | Exelon Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 465,874    |
|                                                                                                                                                             | 29,319               |             |                                                                                                                                 | PPL Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 978,668    |
|                                                                                                                                                             | 7,237                |             |                                                                                                                                 | The Southern Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 349,041    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 1,793,583  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Multi-Utilities - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 11,044               |             |                                                                                                                                 | Consolidated Edison, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 702,951    |
|                                                                                                                                                             | 18,507               |             |                                                                                                                                 | E.ON SE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 335,133    |
|                                                                                                                                                             | 12,991               |             |                                                                                                                                 | GDF Suez                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 279,352    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 1,317,436  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 3,111,019  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL COMMON STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $31,585,295)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 33,700,166 |
|                                                                                                                                                             | Principal Amount ($) |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                             |                 |             |                                                                                                                                 | ASSET BACKED SECURITIES - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 6,583                | 2.98             | BB+/Caa2                                                                                                                             | ABFC 2003-WMC1 Trust, Floating Rate Note, 3/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 5,937      |
|                                                                                                                                                             | 124,107              |             | B+/B3                                                                                                                                | Accredited Mortgage Loan Trust 2003-3, 5.21%, 1/25/34 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 118,576    |
|                                                                                                                                                             | 15,103               | 6.50             | BB+/Baa2                                                                                                                             | ACE Securities Corp. Manufactured Housing Trust Series 2003-MH1, Floating Rate Note, 8/15/30 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 15,221  |
|                                                                                                                                                             | 47,435               |             | B+/B1                                                                                                                                | Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/47 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 48,495  |
|                                                                                                                                                             | 87,452               |             | NR/Ba3                                                                                                                               | Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 86,379     |
|                                                                                                                                                             | 100,000              |             | BB/NR                                                                                                                                | CarNow Auto Receivables Trust 2012-1, 6.9%, 11/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 100,286    |
|                                                                                                                                                             | 38,005               |             | B-/B1                                                                                                                                | Citicorp Residential Mortgage Trust Series 2006-3, 5.703%, 11/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 37,916     |
|                                                                                                                                                             | 85,000               |             | A+/Ba1                                                                                                                               | Countrywide Asset-Backed Certificates, 5.557%, 2/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 85,865     |
|                                                                                                                                                             | 75,101               | 5.24             | BB+/Ba3                                                                                                                              | Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 77,493     |
|                                                                                                                                                             | 5,896                | 0.88             | AAA/A1                                                                                                                               | Countrywide Asset-Backed Certificates, Floating Rate Note, 6/25/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 5,754      |
|                                                                                                                                                             | 97,482               | 7.78             | NR/B3                                                                                                                                | GE Mortgage Services LLC, Floating Rate Note, 3/25/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 96,546     |
|                                                                                                                                                             | 99,675               | 0.30             | CCC/Caa3                                                                                                                             | Morgan Stanley Home Equity Loan Trust 2007-2, Floating Rate Note, 4/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 80,552     |
|                                                                                                                                                             | 77,967               |             | CC/Caa2                                                                                                                              | RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 74,793     |
|                                                                                                                                                             | 100,000              |             | BB/NR                                                                                                                                | SNAAC Auto Receivables Trust, 4.56%, 4/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 100,302    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $936,370)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 934,115    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | COLLATERALIZED MORTGAGE OBLIGATIONS - 6.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 100,000              |             | NR/NR                                                                                                                                | A10 Securitization LLC, 4.7%, 11/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 100,211    |
|                                                                                                                                                             | 100,000              |             | NR/NR                                                                                                                                | A10 Securitization LLC, 6.41%, 11/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 100,203    |
|                                                                                                                                                             | 36,320               | 6.33             | BBB/NR                                                                                                                               | Banc of America Merrill Lynch Commercial Mortgage, Inc., Floating Rate Note, 9/10/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 37,880  |
|                                                                                                                                                             | 14,875               | 5.07             | BBB+/NR                                                                                                                              | Banc of America Mortgage 2005-H Trust, Floating Rate Note, 9/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 14,884     |
|                                                                                                                                                             | 109,236              | 0.59             | NR/Baa3                                                                                                                              | Bayview Commercial Asset Trust, Floating Rate Note, 1/25/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 89,835     |
|                                                                                                                                                             | 125,661              | 0.51             | AA+/Baa3                                                                                                                             | Bayview Commercial Asset Trust, Floating Rate Note, 8/25/35 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 100,802    |
|                                                                                                                                                             | 200,000              | 5.52             | BBB/NR                                                                                                                               | Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 176,423 |
|                                                                                                                                                             | 100,000              | 5.21             | NR/Baa2                                                                                                                              | Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 102,681 |
|                                                                                                                                                             | 29,871               | 5.61             | B+/NR                                                                                                                                | CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 30,067     |
|                                                                                                                                                             | 50,000               | 5.93             | NR/Baa3                                                                                                                              | Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/15/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 52,617     |
|                                                                                                                                                             | 50,000               | 5.99             | BB-/NR                                                                                                                               | COBALT CMBS Commercial Mortgage Trust 2007-C3, Floating Rate Note, 5/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 56,890  |
|                                                                                                                                                             | 27,651               | 0.38             | A+/A1                                                                                                                                | COMM 2007-FL14 Mortgage Trust, Floating Rate Note, 6/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 27,300     |
|                                                                                                                                                             | 35,279               |             | B+/NR                                                                                                                                | Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 35,206     |
|                                                                                                                                                             | 100,000              | 5.14             | CCC/B3                                                                                                                               | Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 94,020  |
|                                                                                                                                                             | 100,000              | 5.63             | NR/A2                                                                                                                                | DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/10/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 115,964    |
|                                                                                                                                                             | 100,000              | 5.20             | NR/NR                                                                                                                                | Del Coronado Trust, Floating Rate Note, 3/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 100,360    |
|                                                                                                                                                             | 100,000              |             | NR/NR                                                                                                                                | Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 107,764    |
|                                                                                                                                                             | 271,029              |             | NR/NR                                                                                                                                | Fannie Mae REMICS, 3.5%, 1/25/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 13,444     |
|                                                                                                                                                             | 10,000               | 3.82             | NR/NR                                                                                                                                | FREMF Mortgage Trust Class C, Floating Rate Note, 6/25/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 10,062     |
|                                                                                                                                                             | 100,000              | 4.35             | NR/A3                                                                                                                                | FREMF Mortgage Trust, Floating Rate Note, 1/25/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 108,529    |
|                                                                                                                                                             | 50,000               | 3.76             | NR/NR                                                                                                                                | FREMF Mortgage Trust, Floating Rate Note, 2/25/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 51,265     |
|                                                                                                                                                             | 50,000               | 4.16             | NR/Baa2                                                                                                                              | FREMF Mortgage Trust, Floating Rate Note, 9/25/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 52,021     |
|                                                                                                                                                             | 250,000              | 5.32             | BBB-/NR                                                                                                                              | GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 251,277    |
|                                                                                                                                                             | 57,269               |             | CCC/Caa3                                                                                                                             | Global Mortgage Securitization, Ltd., 5.25%, 4/25/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 50,818     |
|                                                                                                                                                             | 7,978                | 5.10             | CCC/NR                                                                                                                               | GMACM Mortgage Loan Trust 2005-AR2, Floating Rate Note, 5/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 7,816      |
|                                                                                                                                                             | 147,937              | 1.03             | NR/NR                                                                                                                                | Government National Mortgage Association, Floating Rate Note, 2/16/53                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 12,918     |
|                                                                                                                                                             | 147,875              | 1.05             | NR/NR                                                                                                                                | Government National Mortgage Association, Floating Rate Note, 3/16/53                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 12,539     |
|                                                                                                                                                             | 67,647               | 6.45             | NR/NR                                                                                                                                | Government National Mortgage Association, Floating Rate Note, 6/20/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 7,067      |
|                                                                                                                                                             | 196,807              | 1.10             | NR/NR                                                                                                                                | Government National Mortgage Association, Floating Rate Note, 8/16/52                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 15,335     |
|                                                                                                                                                             | 147,761              | 1.07             | NR/NR                                                                                                                                | Government National Mortgage Association, Floating Rate Note, 9/16/52                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 13,585     |
|                                                                                                                                                             | 100,000              | 3.80             | NR/Ba2                                                                                                                               | GS Mortgage Securities Corp. II, Floating Rate Note, 11/8/29 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 100,465    |
|                                                                                                                                                             | 30,000               | 5.83             | NR/Baa3                                                                                                                              | GS Mortgage Securities Trust 2012-GC6, Floating Rate Note, 1/10/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 32,449     |
|                                                                                                                                                             | 32,971               | 5.25             | BB-/NR                                                                                                                               | GSR Mortgage Loan Trust 2005-AR4, Floating Rate Note, 7/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 32,622     |
|                                                                                                                                                             | 100,000              | 3.95             | NR/NR                                                                                                                                | JP Morgan Chase Commercial Mortgage Securities Corp., Floating Rate Note, 4/15/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 99,000  |
|                                                                                                                                                             | 50,000               | 6.14             | BB-/Ba1                                                                                                                              | JP Morgan Chase Commercial Mortgage Securities Trust 2007-C1, Floating Rate Note, 2/15/51                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 56,355  |
|                                                                                                                                                             | 50,000               | 6.20             | B-/NR                                                                                                                                | JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 44,913  |
|                                                                                                                                                             | 124,439              | 5.28             | BB/NR                                                                                                                                | LB-UBS Commercial Mortgage Trust 2006-C1, Floating Rate Note, 2/15/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 123,879    |
|                                                                                                                                                             | 119,069              | 0.40             | BBB+/Aa3                                                                                                                             | Lehman Brothers Small Balance Commercial Mortgage Trust 2006-2, Floating Rate Note, 9/25/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 94,669  |
|                                                                                                                                                             | 172,892              | 2.64             | BB+/Ba1                                                                                                                              | MASTR Adjustable Rate Mortgages Trust 2003-6, Floating Rate Note, 12/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 172,789    |
|                                                                                                                                                             | 53,441               | 5.29             | B-/B3                                                                                                                                | MASTR Adjustable Rate Mortgages Trust, Floating Rate Note, 1/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 52,451     |
|                                                                                                                                                             | 85,226               |             | B-/NR                                                                                                                                | MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 86,952     |
|                                                                                                                                                             | 124,013              |             | D/Caa3                                                                                                                               | Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 102,114    |
|                                                                                                                                                             | 59,434               | 5.64             | A+/Ba1                                                                                                                               | Merrill Lynch Mortgage Investors Trust Series MLCC 2007-1, Floating Rate Note, 1/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 60,676  |
|                                                                                                                                                             | 50,000               |             | BB+/NR                                                                                                                               | Morgan Stanley Capital I Trust 2007-IQ13, 5.406%, 3/15/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 56,356     |
|                                                                                                                                                             | 100,000              | 6.09             | B/NR                                                                                                                                 | Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 113,298    |
|                                                                                                                                                             | 95,284               | 1.60             | B-/Ba1                                                                                                                               | RESI Finance LP, Floating Rate Note, 9/10/35 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 82,978     |
|                                                                                                                                                             | 365,307              |             | BB+/Baa2                                                                                                                             | Spirit Master Funding LLC, 5.74%, 3/20/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 376,045    |
|                                                                                                                                                             | 100,000              | 5.30             | BBB/NR                                                                                                                               | Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/25/59 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 103,726    |
|                                                                                                                                                             | 250,000              | 5.58             | BB/NR                                                                                                                                | Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 251,625    |
|                                                                                                                                                             | 25,000               |             | BB/B1                                                                                                                                | Timberstar Trust, 7.53%, 10/15/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 25,880     |
|                                                                                                                                                             | 35,227               | 5.00             | NR/Ba2                                                                                                                               | Wells Fargo Mortgage Backed Securities 2005-AR6 Trust, Floating Rate Note, 4/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 35,893  |
|                                                                                                                                                             | 50,000               | 5.65             | NR/Baa3                                                                                                                              | WFRBS Commercial Mortgage Trust 2011-C2, Floating Rate Note, 2/15/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 53,543  |
|                                                                                                                                                             | 100,000              | 5.34             | NR/A2                                                                                                                                | WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 114,572 |
|                                                                                                                                                             | 100,000              | 4.50             | BBB-/NR                                                                                                                              | WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/15/48 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 97,214  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $4,177,915)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 4,320,247  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | CORPORATE BONDS - 36.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Energy - 9.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Drilling - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 75,000               |             | B/B1                                                                                                                                 | Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 80,250     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Equipment & Services - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 100,000              |             | B+/B1                                                                                                                                | American Petroleum Tankers Parent LLC, 10.25%, 5/1/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 102,563    |
|                                                                                                                                                             | 250,000              |             | B+/B2                                                                                                                                | Basic Energy Services, Inc., 7.75%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 263,125    |
|                                                                                                                                                             | 75,000               |             | BB/Ba3                                                                                                                               | Bristow Group, Inc., 6.25%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 81,750     |
|                                                                                                                                                             | 100,000              |             | B-/B3                                                                                                                                | Hiland Partners LP, 7.25%, 10/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 111,250    |
|                                                                                                                                                             | 300,000              |             | BB-/B1                                                                                                                               | Key Energy Services, Inc., 6.75%, 3/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 313,500    |
|                                                                                                                                                             | 200,000              |             | B/B3                                                                                                                                 | Seitel, Inc., 9.5%, 4/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 208,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 1,080,688  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Exploration & Production - 6.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 150,000              |             | B+/NR                                                                                                                                | Antero Resources Finance Corp., 6.0%, 12/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 158,625    |
|                                                                                                                                                             | 130,000              |             | CCC+/Caa1                                                                                                                            | Athlon Holdings LP, 7.375%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 136,825    |
|                                                                                                                                                             | 200,000              |             | CCC+/Caa1                                                                                                                            | Aurora USA Oil & Gas, Inc., 7.5%, 4/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 208,000    |
|                                                                                                                                                             | 200,000              |             | B-/B3                                                                                                                                | Bonanza Creek Energy, Inc., 6.75%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 211,000    |
|                                                                                                                                                             | 125,000              |             | B-/B3                                                                                                                                | Carrizo Oil & Gas, Inc., 8.625%, 10/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 138,438    |
|                                                                                                                                                             | 200,000              |             | BB+/Ba2                                                                                                                              | Continental Resources, Inc., 4.5%, 4/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 213,250    |
|                                                                                                                                                             | 300,000              |             | BB/B1                                                                                                                                | Denbury Resources, Inc., 4.625%, 7/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 303,000    |
|                                                                                                                                                             | 100,000              |             | B/B2                                                                                                                                 | EP Energy LLC, 9.375%, 5/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 116,500    |
|                                                                                                                                                             | 50,000               |             | B/B3                                                                                                                                 | EPE Holdings LLC, 8.125%, 12/15/17 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 53,250     |
|                                                                                                                                                             | 50,000               |             | B-/Caa1                                                                                                                              | EPL Oil & Gas, Inc., 8.25%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 53,750     |
|                                                                                                                                                             | 75,000               |             | B-/B2                                                                                                                                | Forest Oil Corp., 7.5%, 9/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 79,875     |
|                                                                                                                                                             | 100,000              |             | CCC/Caa1                                                                                                                             | Goodrich Petroleum Corp., 8.875%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 105,000    |
|                                                                                                                                                             | 100,000              |             | CCC+/B3                                                                                                                              | Gulfport Energy Corp., 7.75%, 11/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 107,750    |
|                                                                                                                                                             | 175,000              |             | CCC+/Caa1                                                                                                                            | Halcon Resources Corp., 8.875%, 5/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 187,688    |
|                                                                                                                                                             | 50,000               |             | CCC+/Caa1                                                                                                                            | Halcon Resources Corp., 9.75%, 7/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 54,625     |
|                                                                                                                                                             | 110,000              |             | B-/Caa1                                                                                                                              | Memorial Production Partners LP, 7.625%, 5/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 112,200    |
|                                                                                                                                                             | 175,000              |             | B-/Caa1                                                                                                                              | Midstates Petroleum Co, Inc., 10.75%, 10/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 192,500    |
|                                                                                                                                                             | 200,000              |             | B-/Caa1                                                                                                                              | Northern Oil and Gas, Inc., 8.0%, 6/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 209,000    |
|                                                                                                                                                             | 200,000              |             | B-/B3                                                                                                                                | PDC Energy, Inc., 7.75%, 10/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 218,500    |
|                                                                                                                                                             | 200,000              |             | B-/Caa1                                                                                                                              | Penn Virginia Corp., 7.25%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 197,000    |
|                                                                                                                                                             | 140,000              |             | B-/Caa1                                                                                                                              | Penn Virginia Corp., 8.5%, 5/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 140,700    |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa1                                                                                                                            | PetroBakken Energy, Ltd., 8.625%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 103,000    |
|                                                                                                                                                             | 100,000              |             | B-/Caa1                                                                                                                              | QR Energy LP, 9.25%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 107,750    |
|                                                                                                                                                             | 100,000              |             | B-/B3                                                                                                                                | Resolute Energy Corp., 8.5%, 5/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 107,500    |
|                                                                                                                                                             | 190,000              |             | B+/B2                                                                                                                                | Rosetta Resources, Inc., 5.625%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 198,075    |
|                                                                                                                                                             | 200,000              |             | B-/B3                                                                                                                                | Samson Investment Co., 9.75%, 2/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 212,500    |
|                                                                                                                                                             | 50,000               |             | B-/B2                                                                                                                                | SandRidge Energy, Inc., 7.5%, 2/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 51,500     |
|                                                                                                                                                             | 95,000               |             | B-/B3                                                                                                                                | Stone Energy Corp., 7.5%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 104,025    |
|                                                                                                                                                             | 225,000              |             | B+/B3                                                                                                                                | Swift Energy Co., 7.875%, 3/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 234,562    |
|                                                                                                                                                             | 200,000              |             | CCC+/Caa1                                                                                                                            | Talos Production LLC, 9.75%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 197,000    |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | Vanguard Natural Resources LLC, 7.875%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 108,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 4,621,888  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Refining & Marketing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 100,000              |             | BBB/Baa2                                                                                                                             | Valero Energy Corp., 6.625%, 6/15/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 125,868    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Oil & Gas Storage & Transportation - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 150,000              |             | B/B1                                                                                                                                 | Genesis Energy LP, 5.75%, 2/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 157,875    |
|                                                                                                                                                             | 125,000              |             | BB/B1                                                                                                                                | Inergy Midstream LP, 6.0%, 12/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 131,875    |
|                                                                                                                                                             | 100,000              |             | BBB/Baa2                                                                                                                             | Kinder Morgan Energy Partners LP, 5.0%, 8/15/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 107,141    |
|                                                                                                                                                             | 290,000              |             | BB+/Ba3                                                                                                                              | Sabine Pass Liquefaction LLC, 5.625%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 300,150    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 697,041    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Coal & Consumable Fuels - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 100,000              |             | B+/B2                                                                                                                                | Alpha Natural Resources, Inc., 6.0%, 6/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 93,500     |
|                                                                                                                                                             | 150,000              |             | B/B2                                                                                                                                 | Bumi Investment Pte, Ltd., 10.75%, 10/6/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 121,125    |
|                                                                                                                                                             | 200,000              |             | B/B3                                                                                                                                 | Murray Energy Corp., 10.25%, 10/15/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 204,000    |
|                                                                                                                                                             | 150,000              |             | BB-/B1                                                                                                                               | SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 160,125    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 578,750    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 7,184,485  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Materials - 4.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Commodity Chemicals - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 100,000              |             | CCC+/NR                                                                                                                              | Hexion US Finance Corp., 9.0%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 104,000    |
|                                                                                                                                                             | 75,000               |             | BB-/B1                                                                                                                               | Rain CII Carbon LLC, 8.0%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 80,062     |
|                                                                                                                                                             | 150,000              |             | B-/Caa1                                                                                                                              | US Coatings Acquisition, Inc., 7.375%, 5/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 160,125    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 344,187    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Chemicals - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 100,000              |             | B-/Caa1                                                                                                                              | INEOS Group Holdings SA, 8.5%, 2/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 101,625    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Specialty Chemicals - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 200,000              |             | B/B1                                                                                                                                 | Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 205,000    |
|                                                                                                                                                             | 200,000              |             | BB-/B2                                                                                                                               | Tronox Finance LLC, 6.375%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 199,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 404,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Paper Packaging - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 200,000              |             | CCC+/Caa2                                                                                                                            | Exopack Holding Corp., 10.0%, 6/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 202,000    |
|                                                                                                                                                             | 290,000              |             | BB-/B1                                                                                                                               | Sealed Air Corp., 6.875%, 7/15/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 292,900    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 494,900    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Metals & Mining - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 100,000              |             | CCC/Caa2                                                                                                                             | Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 65,000     |
|                                                                                                                                                             | 100,000              |             | B-/Caa1                                                                                                                              | Mirabela Nickel, Ltd., 8.75%, 4/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 85,000     |
|                                                                                                                                                             | 50,000               |             | B/Caa1                                                                                                                               | Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 55,750     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 205,750    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Steel - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 100,000              |             | B/Caa1                                                                                                                               | Atkore International, Inc., 9.875%, 1/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 110,125    |
|                                                                                                                                                             | 70,000               |             | BB+/Ba2                                                                                                                              | Commercial Metals Co., 7.35%, 8/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 77,350     |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | JMC Steel Group, Inc., 8.25%, 3/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 104,625    |
|                                                                                                                                                             | 200,000              |             | NR/B3                                                                                                                                | Metinvest BV, 8.75%, 2/14/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 204,000    |
|                                                                                                                                                             | 250,000              |             | B-/B3                                                                                                                                | Permian Holdings, Inc., 10.5%, 1/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 258,125    |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa2                                                                                                                            | Ryerson, Inc., 9.0%, 10/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 109,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 863,225    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Forest Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 100,000              |             | B-/B3                                                                                                                                | Millar Western Forest Products, Ltd., 8.5%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 101,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Paper Products - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 260,000              |             | BB-/Ba3                                                                                                                              | Resolute Forest Products, Inc., 5.875%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 256,750    |
|                                                                                                                                                             | 200,000              |             | B-/Caa1                                                                                                                              | Unifrax I LLC, 7.5%, 2/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    | 208,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 464,750    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 2,979,937  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Capital Goods - 3.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Aerospace & Defense - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 200,000              |             | BB/B1                                                                                                                                | DigitalGlobe, Inc., 5.25%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 202,000    |
|                                                                                                                                                             | 50,000               |             | B-/B2                                                                                                                                | DynCorp International, Inc., 10.375%, 7/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 49,375     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 251,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Building Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 100,000              |             | BB-/B2                                                                                                                               | Gibraltar Industries, Inc., 6.25%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 107,250    |
|                                                                                                                                                             | 100,000              |             | BBB-/Ba3                                                                                                                             | Masco Corp., 7.125%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 116,474    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 223,724    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electrical Components & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | Coleman Cable, Inc., 9.0%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 108,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Industrial Conglomerates - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 225,000              |             | B+/B2                                                                                                                                | JB Poindexter & Co., Inc., 9.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 236,531    |
|                                                                                                                                                             | 100,000              |             | CCC+/B3                                                                                                                              | Park-Ohio Industries, Inc., 8.125%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 110,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 346,781    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Construction & Farm Machinery & Heavy Trucks - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 200,000              |             | B/B2                                                                                                                                 | Commercial Vehicle Group, Inc., 7.875%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 204,000    |
|                                                                                                                                                             | 100,000              |             | A/A3                                                                                                                                 | Cummins, Inc., 5.65%, 3/1/98                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 106,083    |
|                                                                                                                                                             | 125,000              |             | CCC+/B3                                                                                                                              | Navistar International Corp., 8.25%, 11/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 130,156    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 440,239    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Industrial Machinery - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 150,000              |             | B-/B3                                                                                                                                | BC Mountain LLC, 7.0%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 161,250    |
|                                                                                                                                                             | 100,000              |             | B/B2                                                                                                                                 | Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 110,250    |
|                                                                                                                                                             | 100,000              |             | B/Caa2                                                                                                                               | Liberty Tire Recycling, 11.0%, 10/1/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 102,500    |
|                                                                                                                                                             | 100,000              |             | B/B1                                                                                                                                 | Mcron Finance Sub LLC, 8.375%, 5/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 110,000    |
|                                                                                                                                                             | 150,000              |             | B/B3                                                                                                                                 | Xerium Technologies, Inc., 8.875%, 6/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 153,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 637,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Trading Companies & Distributors - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 150,000              |             | B+/B3                                                                                                                                | H&E Equipment Services, 7.0%, 9/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 166,125    |
|                                                                                                                                                             | 100,000              |             | BB+/NR                                                                                                                               | Aviation Capital Group Corp., 4.625%, 1/31/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 104,311    |
|                                                                                                                                                             | 100,000              |             | B-/B3                                                                                                                                | TRAC Intermodal LLC, 11.0%, 8/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 110,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 380,436    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 2,388,180  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Commercial Services & Supplies - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Support Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 100,000              |             | B-/Caa1                                                                                                                              | ADS Tactical, Inc., 11.0%, 4/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 99,500     |
|                                                                                                                                                             | 200,000              |             | B+/B3                                                                                                                                | NANA Development Corp., 9.5%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 203,750    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 303,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 303,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Transportation - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Air Freight & Logistics - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 100,000              |             | D/C                                                                                                                                  | CEVA Group Plc, 11.5%, 4/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 65,000     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Airlines - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 100,000              |             | B-/NR                                                                                                                                | Gol Finance, 9.25%, 7/20/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 89,250     |
|                                                                                                                                                             | 150,000              |             | B+/B1                                                                                                                                | US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 152,820    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 242,070    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Trucking - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
|                                                                                                                                                             | 125,000              |             | B/B3                                                                                                                                 | syncreon Global Ireland, Ltd., 9.5%, 5/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 133,125    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Airport Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 160,160              |             | B-/B3                                                                                                                                | Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 150,150    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 590,345    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Automobiles & Components - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Auto Parts & Equipment - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 200,000              |             | B+/B2                                                                                                                                | Pittsburgh Glass Works LLC, 8.5%, 4/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 206,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 206,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Durables & Apparel - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Home Furnishings - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 125,000              |             | B+/B3                                                                                                                                | Tempur-Pedic International, Inc., 6.875%, 12/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 136,406    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Homebuilding - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 150,000              |             | CCC/Caa2                                                                                                                             | Beazer Homes USA, Inc., 9.125%, 6/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 164,625    |
|                                                                                                                                                             | 50,000               |             | B/B2                                                                                                                                 | KB Home, 8.0%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 58,875     |
|                                                                                                                                                             | 75,000               |             | B+/B1                                                                                                                                | Meritage Homes Corp., 7.0%, 4/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    | 84,562     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 308,062    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Housewares & Specialties - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa2                                                                                                                            | Reynolds Group Issuer, Inc., 9.0%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 108,000    |
|                                                                                                                                                             | 66,000               |             | CCC+/B3                                                                                                                              | Yankee Candle Co., Inc., 9.75%, 2/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 68,393     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 176,393    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 620,861    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Services - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Casinos & Gaming - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 50,000               |             | CCC/Caa3                                                                                                                             | Codere Finance Luxembourg SA, 9.25%, 2/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 36,500     |
|                                                                                                                                                             | 100,000              |             | B+/B3                                                                                                                                | MGM Resorts International, 6.75%, 10/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 109,750    |
|                                                                                                                                                             | 100,000              |             | BB/B2                                                                                                                                | Seneca Gaming Corp., 8.25%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    | 108,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 254,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Hotels, Resorts & Cruise Lines - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 50,000               |             | B+/B3                                                                                                                                | Viking Cruises, Ltd., 8.5%, 10/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 55,875     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Education Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 100,000              |             | CCC-/Caa1                                                                                                                            | Cambium Learning Group, Inc., 9.75%, 2/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 82,250     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Specialized Consumer Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | 200,000              |             | BB-/Ba3                                                                                                                              | Coinstar, Inc., 6.0%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 207,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 599,875    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Media - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Broadcasting - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 165,000              |             | BB-/B1                                                                                                                               | CCO Holdings LLC, 5.75%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 171,806    |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa2                                                                                                                            | Intelsat Luxembourg SA, 7.75%, 6/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 105,500    |
|                                                                                                                                                             | 100,000              |             | B+/B2                                                                                                                                | Univision Communications, Inc., 6.875%, 5/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 109,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 386,556    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Movies & Entertainment - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | Live Nation Entertainment, Inc., 7.0%, 9/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 108,875    |
|                                                                                                                                                             | 235,000              |             | B-/B3                                                                                                                                | Regal Entertainment Group, 5.75%, 2/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 236,762    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 345,637    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 732,193    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Retailing - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Computer & Electronics Retail - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 350,000              |             | BB-/Ba3                                                                                                                              | Rent-A-Center, Inc., 4.75%, 5/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 352,625    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Specialty Stores - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 105,000              |             | BB-/Ba3                                                                                                                              | CST Brands, Inc., 5.0%, 5/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 107,756    |
|                                                                                                                                                             | 75,000               |             | CCC+/Caa1                                                                                                                            | Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 78,281     |
|                                                                                                                                                             | 250,000              |             | B-/B3                                                                                                                                | Radio Systems Corp., 8.375%, 11/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 271,875    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 457,912    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 810,537    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Food, Beverage & Tobacco - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Distillers & Vintners - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             | 325,000              |             | BB+/Ba1                                                                                                                              | Constellation Brands, Inc., 4.25%, 5/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 325,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Agricultural Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 200,000              |             | B/NR                                                                                                                                 | Tonon Bioenergia SA, 9.25%, 1/24/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 207,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Packaged Foods & Meats - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 175,000              |             | B/B1                                                                                                                                 | Chiquita Brands International, Inc., 7.875%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 187,688    |
|                                                                                                                                                             | 125,000              |             | B/B3                                                                                                                                 | FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 138,125    |
|                                                                                                                                                             | 200,000              |             | B+/B2                                                                                                                                | Marfrig Holding Europe BV, 9.875%, 7/24/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 187,000    |
|                                                                                                                                                             | 40,000               |             | B/Caa1                                                                                                                               | Pilgrim's Pride Corp., 7.875%, 12/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 43,400     |
|                                                                                                                                                             | 100,000              |             | B+/B2                                                                                                                                | Wells Enterprises, Inc., 6.75%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 108,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 664,713    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Tobacco - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 250,000              |             | B-/B3                                                                                                                                | Alliance One International, Inc., 10.0%, 7/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 265,475    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 1,462,688  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Household & Personal Products - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Personal Products - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 200,000              |             | BBB-/Baa2                                                                                                                            | Avon Products, Inc., 5.0%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 217,609    |
|                                                                                                                                                             | 150,000              |             | CCC+/Caa1                                                                                                                            | Monitronics International, Inc., 9.125%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    | 162,750    |
|                                                                                                                                                             | 150,000              |             | B/B1                                                                                                                                 | Revlon Consumer Products Corp., 5.75%, 2/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 154,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 534,859    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 534,859    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Health Care Equipment & Services - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Health Care Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 125,000              |             | CCC+/Caa2                                                                                                                            | Accellent, Inc., 10.0%, 11/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 119,062    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Health Care Services - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 100,000              |             | CCC+/B3                                                                                                                              | ExamWorks Group, Inc., 9.0%, 7/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 109,750    |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa2                                                                                                                            | Gentiva Health Services, Inc., 11.5%, 9/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 104,000    |
|                                                                                                                                                             | 60,000               |             | CCC+/B3                                                                                                                              | Surgical Care Affiliates, Inc., 8.875%, 7/15/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 60,750     |
|                                                                                                                                                             | 80,000               |             | CCC+/Caa1                                                                                                                            | Truven Health Analytics, Inc., 10.625%, 6/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 91,600     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 366,100    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Health Care Facilities - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 100,000              |             | BB/B1                                                                                                                                | Aviv Healthcare Properties LP, 7.75%, 2/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 109,500    |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | Capella Healthcare, Inc., 9.25%, 7/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 108,125    |
|                                                                                                                                                             | 300,000              |             | B-/B3                                                                                                                                | Kindred Healthcare, Inc., 8.25%, 6/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 308,625    |
|                                                                                                                                                             | 75,000               |             | B-/B3                                                                                                                                | Vanguard Health Holding Co. II LLC, 7.75%, 2/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 81,469     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 607,719    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Health Care Technology - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             | 100,000              |             | B-/B3                                                                                                                                | MedAssets, Inc., 8.0%, 11/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 110,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 1,203,131  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Pharmaceuticals, Biotechnology & Life Sciences - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Biotechnology - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | 250,000              |             | B/Caa2                                                                                                                               | Lantheus Medical Imaging, Inc., 9.75%, 5/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 247,500    |
|                                                                                                                                                             | 40,000               |             | BB/B3                                                                                                                                | Warner Chilcott Co. LLC, 7.75%, 9/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    | 43,400     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 290,900    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Pharmaceuticals - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 100,000              |             | B-/Caa1                                                                                                                              | Sky Growth Acquisition Corp., 7.375%, 10/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 106,750    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 397,650    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Banks - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Banks - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 250,000              |             | NR/Ba3                                                                                                                               | CorpGroup Banking SA, 6.75%, 3/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 264,688    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 264,688    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Financials - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Other Diversified Financial Services - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 230,000              | 5.35             | NR/B1                                                                                                                                | Citigroup, Inc., Floating Rate Note, 4/29/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 230,634    |
|                                                                                                                                                             | 100,000              | 7.12             | AA-/Baa1                                                                                                                             | General Electric Capital Corp., Floating Rate Note, 12/29/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    | 117,064    |
|                                                                                                                                                             | 100,000              |             | NR/NR                                                                                                                                | Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    | 100,089    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 447,787    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Specialized Finance - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 100,000              |             | BBB-/WR                                                                                                                              | Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 104,327    |
|                                                                                                                                                             | 150,000              |             | B+/B2                                                                                                                                | Nationstar Mortgage LLC, 6.5%, 7/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    | 157,312    |
|                                                                                                                                                             | 150,000              |             | B/B1                                                                                                                                 | Oxford Finance LLC, 7.25%, 1/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | 159,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 420,639    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 200,000              |             | B+/B1                                                                                                                                | Jefferies Finance LLC, 7.375%, 4/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 208,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Asset Management & Custody Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 200,000              |             | BBB/NR                                                                                                                               | Prospect Capital Corp., 5.875%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 200,726    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 1,277,152  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Insurance - 3.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Insurance Brokers - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 100,000              |             | CCC+/Caa2                                                                                                                            | Hub International, Ltd., 8.125%, 10/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 107,625    |
|                                                                                                                                                             | 200,000              |             | CCC/Caa2                                                                                                                             | Onex USI Acquisition Corp., 7.75%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 206,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 313,625    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Multi-line Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 100,000              |             | BBB-/Baa3                                                                                                                            | Genworth Holdings, Inc., 7.2%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 120,736    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Reinsurance - 3.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             | 250,000              | 14.00            | B-/NR                                                                                                                                | Blue Fin, Ltd., Floating Rate Note, 5/28/13 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 251,750    |
|                                                                                                                                                             | 250,000              | 0.00             | BB-/NR                                                                                                                               | Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 250,800    |
|                                                                                                                                                             | 250,000              | 6.65             | BB/NR                                                                                                                                | East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 260,175    |
|                                                                                                                                                             | 250,000              | 6.60             | BB-/NR                                                                                                                               | Embarcadero Reinsurance, Ltd., Floating Rate Note, 8/4/14 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 256,100    |
|                                                                                                                                                             | 250,000              | 5.75             | BB/NR                                                                                                                                | Foundation Re III, Ltd., Floating Rate Note, 2/3/14 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    | 251,725    |
|                                                                                                                                                             | 250,000              | 8.25             | BB-/NR                                                                                                                               | Lodestone Re, Ltd., Floating Rate Note, 5/17/13 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 250,450    |
|                                                                                                                                                             | 250,000              | 8.71             | B+/NR                                                                                                                                | Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 258,025 |
|                                                                                                                                                             | 250,000              | 11.94            | B-/NR                                                                                                                                | Mythen Re, Ltd. Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 245,425 |
|                                                                                                                                                             | 250,000              | 4.50             | BB+/NR                                                                                                                               | Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 253,025 |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 2,277,475  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 2,711,836  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Real Estate - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified REIT's - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 200,000              |             | B/Ba3                                                                                                                                | CNL Lifestyle Properties, Inc., 7.25%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 202,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Real Estate Operating Companies - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             | 100,000              |             | B/B3                                                                                                                                 | Forest City Enterprises, Inc., 6.5%, 2/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 97,500     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 300,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Software & Services - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Internet Software & Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 125,000              |             | BB/B1                                                                                                                                | j2 Global, Inc., 8.0%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 135,000    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Data Processing & Outsourced Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             | 125,000              |             | B-/Caa1                                                                                                                              | First Data Corp., 8.25%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 132,812    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Application Software - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 80,000               |             | CCC-/Caa2                                                                                                                            | Allen Systems Group, Inc., 10.5%, 11/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 50,800     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 318,612    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Technology Hardware & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electronic Equipment Manufacturers - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 125,000              |             | BB-/B1                                                                                                                               | Viasystems, Inc., 7.875%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 133,438    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 133,438    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Semiconductors & Semiconductor Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 70,000               |             | B+/Caa1                                                                                                                              | MEMC Electronic Materials, Inc., 7.75%, 4/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $       | 65,100     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Semiconductors - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 100,000              |             | B/B2                                                                                                                                 | Advanced Micro Devices, Inc., 7.5%, 8/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 95,750     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 160,850    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Telecommunication Services - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Integrated Telecommunication Services - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 177,000              |             | CCC+/B3                                                                                                                              | Cincinnati Bell, Inc., 8.75%, 3/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 180,540    |
|                                                                                                                                                             | 100,000              |             | BB-/Ba2                                                                                                                              | Frontier Communications Corp., 7.625%, 4/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 104,250    |
|                                                                                                                                                             | 160,000              |             | BB-/Ba2                                                                                                                              | Frontier Communications Corp., 8.75%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    | 180,000    |
|                                                                                                                                                             | 75,000               |             | NR/B1                                                                                                                                | Windstream Corp., 6.375%, 8/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    | 77,625     |
|                                                                                                                                                             | 120,000              |             | B/B1                                                                                                                                 | Windstream Corp., 7.5%, 6/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    | 132,300    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 674,715    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Wireless Telecommunication Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             | 100,000              |             | B/Ba3                                                                                                                                | MetroPCS Wireless, Inc., 6.625%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 108,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 782,965    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Utilities - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Gas Utilities - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | 100,000              |             | NR/Ba2                                                                                                                               | AmeriGas Finance LLC, 7.0%, 5/20/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 111,750    |
|                                                                                                                                                             | 200,000              |             | B-/B2                                                                                                                                | Ferrellgas LP, 6.5%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    | 210,500    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 322,250    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Independent Power Producers & Energy Traders - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 150,000              |             | B/B1                                                                                                                                 | InterGen NV, 9.0%, 6/30/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 151,875    |
|                                                                                                                                                             | 75,000               |             | BB-/B1                                                                                                                               | NRG Energy, Inc., 7.625%, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    | 86,906     |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 238,781    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $       | 561,031    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $25,405,349)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 26,524,563 |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | FOREIGN GOVERNMENT BONDS - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |    |       |
| EURO                                                                                                                                                             | 450,000              |             | BBB-/Baa3                                                                                                                            | Spain Government Bond, 5.5%, 4/30/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 663,163    |
| EURO                                                                                                                                                             | 450,000              |             | BBB-/Baa3                                                                                                                            | Spain Government Bond, 6.0%, 1/31/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    | 690,803    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $1,228,570)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 1,353,966  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | SENIOR FLOATING RATE LOAN INTERESTS - 2.0% **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Capital Goods - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Electrical Components & Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 99,250               | 0.00             | NR/NR                                                                                                                                | Pelican Products, Inc., Term Loan (First Lien), 8/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 100,491    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 100,491    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Automobiles & Components - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Auto Parts & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 124,688              | 0.00             | B+/B1                                                                                                                                | Metaldyne Corp., USD Term Loan, 12/19/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $       | 127,337    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 127,337    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Durables & Apparel - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Housewares & Specialties - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 45,129               | 0.00             | B+/B1                                                                                                                                | Yankee Candle Co., Inc., Initial Term Loan, 3/2/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 45,541     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Apparel, Accessories & Luxury Goods - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             | 149,625              | 0.00             | B/B2                                                                                                                                 | Renfro Corp., Tranche B Term Loan, 1/23/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 152,243    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 197,784    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Leisure Facilities - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             | 150,000              | 0.00             | B+/B1                                                                                                                                | Bombardier Recreational Products, Inc., Term B Loan, 7/17/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 151,781    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 151,781    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Media - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Broadcasting - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             | 149,625              | 0.00             | B/B1                                                                                                                                 | NEP Broadcasting LLC, Refinanced New Term Loan (First Lien), 1/3/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 152,197    |
|                                                                                                                                                             | 59,959               | 0.00             | B+/B2                                                                                                                                | Univision Communications, Inc., 2013 Converted Extended First-Lien Term Loan, 2/22/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 60,639  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 212,836    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 212,836    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Food, Beverage & Tobacco - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Packaged Foods & Meats - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             | 200,000              | 0.00             | B-/NR                                                                                                                                | Hostess Brands, Inc., Term B Loan, 2/25/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $       | 205,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 205,375    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Household & Personal Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Personal Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |    |       |
|                                                                                                                                                             | 59,400               | 0.00             | B/NR                                                                                                                                 | Monotronics International, Inc., Term B Loan, 3/23/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 60,366     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $       | 60,366     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Thrifts & Mortgage Finance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |    |       |
|                                                                                                                                                             | 150,000              | 0.00             | B/B1                                                                                                                                 | Ocwen Financial Corp., Initial Term Loan, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 152,719    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 152,719    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Diversified Financials - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Consumer Finance - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             | 40,468               | 0.00             | B/B3                                                                                                                                 | Springleaf Finance Corp., Initial Term Loan, 5/28/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $       | 40,695     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $       | 40,695     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Software & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Application Software - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |    |       |
|                                                                                                                                                             | 98,738               | 0.00             | NR/B1                                                                                                                                | Vertafore, Inc., Term Loan (2013), 10/20/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $       | 99,849     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $       | 99,849     |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Telecommunication Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Integrated Telecommunication Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             | 123,884              | 0.00             | B+/Ba3                                                                                                                               | West Corp., Term B-8 Loan, 6/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $       | 126,035    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $       | 126,035    |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $1,439,084)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $       | 1,475,268  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL INVESTMENT IN SECURITIES - 96.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | (Cost $65,745,043) (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $       | 69,370,495 |
|                                                                                                                                                             |                 |             |                                                                                                                                 | OTHER ASSETS & LIABILITIES - 4.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $       | 2,906,456  |
|                                                                                                                                                             |                 |             |                                                                                                                                 | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 72,276,951 |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | NR                   |             |                                                                                                                                 | Not rated by either S&P or Moody's.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | WR                   |             |                                                                                                                                 | Withdrawn rating.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | PIK                  |             |                                                                                                                                 | Represents a pay-in-kind security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (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 April 30, 2013, the value of these securities amounted to $20,442,038 or 28.3% of total net assets.                                                                                                                                                                                                                                           |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | REIT                 |             |                                                                                                                                 | Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (Step)               |             |                                                                                                                                 | Bond issued with an initial coupon rate which converts to a higher rate at a later date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (Perpetual)          |             | Security with no stated maturity date.                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (A.D.R.)             |             |                                                                                                                                 | American Depositary Receipts.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (Cat Bond)           |             | Catastrophe Bond is a high-yield debt instrument that is usually insurance linked and meant to raise money in case of a catastrophe. |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | **                   |             |                                                                                                                                 | 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 U.S. banks, (iii) the certificate of deposit or (iv) other base lending rates used by commercial lenders.  The rate shown is the coupon rate at period end. |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (a)                  |             |                                                                                                                                 | At April 30, 2013, the net unrealized gain on investments based on                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | cost for federal income tax purposes of $65,778,130 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Aggregate gross unrealized gain for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $       | 3,926,521  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Aggregate gross unrealized loss for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |    | (334,156)  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 | Net unrealized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $       | 3,592,365  |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
|                                                                                                                                                             | (b)                  |             |                                                                                                                                 | Debt obligation with a variable interest rate.  Rate shown is rate at period end                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |    |       |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
| 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.                                                                                                                     |                 |             |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
| Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued                               |
| using fair value methods (other than prices supplied by independent pricing services) as Level 3.  See Notes to Financial Statements - Note 1A.        |
|                                                                                                                                                             |                 |             |                                                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |    |       |
| The following is a summary of the inputs used as of April 30, 2013, in valuing the Fund’s assets:                                                          |                 |             |

|                                                                                              |   |   |                                              |                                                                                                                                                          | Level 1         |       |   | Level 2 |    |       | Level 3 |   |   | Total   |   |
|---------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------|------------|--------|---------|---------|------------|---------|--------|--------|---------|--------|
|                                                                                              |   |   | Convertible Corporate Bonds                       |                                                                                                                                                          |            |       |   | $       | 321,424 |       |    |   |   |    | $      | 321,424 |   |
|                                                                                              |   |   | Preferred Stock                                   |                                                                                                                                                          |            | 482,526    |   |    |    | 107,500    |    |   |   | 150,720 |   |   |   | 740,746 |   |
|                                                                                              |   |   | Common Stocks                                     |                                                                                                                                                          |            | 16,775,715 |   |    |    | 16,924,451 |    |   |   |    |   |   |   | 33,700,166 |   |
|                                                                                              |   |   | Asset Backed Securities                           |                                                                                                                                                          |            |       |   |    |    | 934,115    |    |   |   |    |   |   |   | 934,115 |   |
|                                                                                              |   |   | Collateralized Mortgage Obligations               |                                                                                                                                                          |            |       |   |    |    | 4,320,247  |    |   |   |    |   |   |   | 4,320,247 |   |
|                                                                                              |   |   | Corporate Bonds                                   |                                                                                                                                                          |            |       |   |    |    | 26,524,563 |    |   |   |    |   |   |   | 26,524,563 |   |
|                                                                                              |   |   | Foreign Government Bonds                          |                                                                                                                                                          |            |       |   |    |    | 1,353,966  |    |   |   |    |   |   |   | 1,353,966 |   |
|                                                                                              |   |   | Senior Floating Rate Loan Interests               |                                                                                                                                                          |            |       |   |    |    | 1,475,268  |    |   |   |    |   |   |   | 1,475,268 |   |
|                                                                                              |   |   | Total                                             |                                                                                                                                                          | $               | 17,258,241 |   |    | $       | 51,961,534 |    |   | $      | 150,720 |   |   | $ | 69,370,495 |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Other Financial Instruments                       |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Unrealized gain on futures contracts              |                                                                                                                                                          |            | (7,500     | )      |    |    | -          |    |   |   | -       |   |   |   | (7,500 | ) |
|                                                                                              |   |   | Total Other Financial Instruments                 |                                                                                                                                                          | $               | (7,500     | )      |    | $       | -          |    |   | $      | -       |   |   | $ | (7,500 | ) |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |
| The following is a reconciliation of assets valued using significant observable inputs (Level 3): |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          | Preferred Stock |       |   |    |    |       |    |   |   |    |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Balance as of 10/31/12                            |                                                                                                                                                          | $               | -          |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Realized gain (loss)                              |                                                                                                                                                          |            | -          |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Change in unrealized appreciation (depreciation)1 |                                                                                                                                                          |            | 720        |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Purchases*                                        |                                                                                                                                                          |            | 150,000    |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Sales                                             |                                                                                                                                                          |            | -          |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Transfers in to Level 3**                         |                                                                                                                                                          |            | -          |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Transfers out of Level 3**                        |                                                                                                                                                          |            | -          |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   | Balance as of 4/30/13                             |                                                                                                                                                          | $               | 150,720    |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |
|                                                                                              |   | 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 gain (loss) on investments in the Statement of Operations. |            |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   | *      |                                              | A portion of the total purchases includes payment-in-kind transactions.                                                                                       |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   | **     |                                              | Transfers are calculated on the beginning of period values. During the six months ended April 30, 2013, there were                                       |            |       |   |    |    |
|                                                                                              |   |   |                                              | no transters between Levels 1, 2 and 3.                                                                                                                       |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                              | Net change in unrealized appreciation (depreciation) of investments                                                                                           |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                              | still held as of 4/30/13                                                                                                                                      |            |       | 720    |    |    |       |    |   |   |    |   |   |   |   |   |   |
|                                                                                              |   |   |                                              |                                                                                                                                                          |            |       |   |    |    |       |    |   |   |    |   |   |   |   |   |   |

|                                                                                                                                                       |                 |             |                                   | Pioneer Classic Balanced Fund                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|------------------|----------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------|
|                                                                                                                                                       |                 |             |                                   | Schedule of Investments 4/30/13 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | Principal Amount ($) | FloatingRate (d) | S&P/Moody'sRatings                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | Value     |
|                                                                                                                                                       |                 |             |                                   | PREFERRED STOCKS - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       |                 |             |                                   | Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 13,300               | 6.50             | A-/Baa1                                | US Bancorp, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 398,468     |
|                                                                                                                                                       | 6,000                | 6.00             | A-/Baa1                                | US Bancorp, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 168,360     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 566,828     |
|                                                                                                                                                       |                 |             |                                   | Regional Banks - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 1,000                | 6.25             | A-/NR                                  | CoBank ACB, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 107,500     |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 674,328     |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Other Diversified Financial Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 3,000                | 7.88             | BB/Ba2                                 | Citigroup Capital XIII, Floating Rate Note, 10/30/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 84,720      |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 84,720      |
|                                                                                                                                                       |                 |             |                                   | Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Property & Casualty Insurance - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 21,025               | 5.10             | BBB/Baa1                               | The Allstate Corp., Floating Rate Note, 1/15/53                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 559,265     |
|                                                                                                                                                       |                 |             |                                   | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 559,265     |
|                                                                                                                                                       |                 |             |                                   | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $1,191,403)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,318,313   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | CONVERTIBLE PREFERRED STOCKS - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 700                  |             | BBB+/Ba1                               | Wells Fargo & Co., 7.5% (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 923,825     |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 923,825     |
|                                                                                                                                                       |                 |             |                                   | TOTAL CONVERTIBLE PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $730,069)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 923,825     |
|                                                                                                                                                       | Shares               |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | COMMON STOCKS - 63.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | Energy - 7.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Drilling - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 54,393               |             |                                   | Ensco Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 3,137,388   |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Equipment & Services - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 31,952               |             |                                   | Halliburton Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,366,587   |
|                                                                                                                                                       | 19,491               |             |                                   | Schlumberger, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 1,450,715   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,817,302   |
|                                                                                                                                                       |                 |             |                                   | Integrated Oil & Gas - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 41,506               |             |                                   | BP Plc (A.D.R.)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,809,662   |
|                                                                                                                                                       | 11,544               |             |                                   | Chevron Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 1,408,483   |
|                                                                                                                                                       | 25,515               |             |                                   | Occidental Petroleum Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 2,277,469   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,495,614   |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Exploration & Production - 2.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 18,777               |             |                                   | Anadarko Petroleum Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 1,591,539   |
|                                                                                                                                                       | 26,009               |             |                                   | Cobalt International Energy, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 726,691     |
|                                                                                                                                                       | 5,092                |             |                                   | EOG Resources, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 616,947     |
|                                                                                                                                                       | 28,815               |             |                                   | EQT Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 2,164,583   |
|                                                                                                                                                       | 46,300               |             |                                   | Marathon Oil Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 1,512,621   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 6,612,381   |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Refining & Marketing - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 12,226               |             |                                   | Phillips 66                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 745,175     |
|                                                                                                                                                       | 45,533               |             |                                   | Valero Energy Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 1,835,891   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,581,066   |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Storage & Transportation - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 27,192               |             |                                   | Spectra Energy Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 857,364     |
|                                                                                                                                                       | 20,454               |             |                                   | Targa Resources Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 1,345,055   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,202,419   |
|                                                                                                                                                       |                 |             |                                   | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 22,846,170  |
|                                                                                                                                                       |                 |             |                                   | Materials - 3.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Fertilizers & Agricultural Chemicals - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 21,344               |             |                                   | Monsanto Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 2,279,966   |
|                                                                                                                                                       | 31,948               |             |                                   | The Mosaic Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 1,967,677   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,247,643   |
|                                                                                                                                                       |                 |             |                                   | Specialty Chemicals - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 25,011               |             |                                   | Ecolab, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 2,116,431   |
|                                                                                                                                                       |                 |             |                                   | Diversified Metals & Mining - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 8,972                |             |                                   | Compass Minerals International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 776,437     |
|                                                                                                                                                       | 63,144               |             |                                   | Freeport-McMoRan Copper & Gold, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,921,472   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,697,909   |
|                                                                                                                                                       |                 |             |                                   | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 9,061,983   |
|                                                                                                                                                       |                 |             |                                   | Capital Goods - 6.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Aerospace & Defense - 2.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 26,925               |             |                                   | Raytheon Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,652,656   |
|                                                                                                                                                       | 49,857               |             |                                   | United Technologies Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 4,551,446   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 6,204,102   |
|                                                                                                                                                       |                 |             |                                   | Electrical Components & Equipment - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 23,891               |             |                                   | Rockwell Automation, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 2,025,479   |
|                                                                                                                                                       |                 |             |                                   | Industrial Conglomerates - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 20,170               |             |                                   | 3M Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 2,112,001   |
|                                                                                                                                                       | 140,328              |             |                                   | General Electric Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 3,127,911   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,239,912   |
|                                                                                                                                                       |                 |             |                                   | Construction & Farm Machinery & Heavy Trucks - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 14,779               |             |                                   | Cummins, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 1,572,338   |
|                                                                                                                                                       |                 |             |                                   | Industrial Machinery - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 19,439               |             |                                   | Ingersoll-Rand Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 1,045,818   |
|                                                                                                                                                       | 22,751               |             |                                   | Snap-on, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 1,961,136   |
|                                                                                                                                                       | 8,946                |             |                                   | SPX Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 666,566     |
|                                                                                                                                                       | 17,257               |             |                                   | Timken Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 907,200     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,580,720   |
|                                                                                                                                                       |                 |             |                                   | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 19,622,551  |
|                                                                                                                                                       |                 |             |                                   | Transportation - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | Air Freight & Logistics - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 21,177               |             |                                   | United Parcel Service, Inc. (Class B)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 1,817,834   |
|                                                                                                                                                       |                 |             |                                   | Airlines - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 80,200               |             |                                   | Delta Air Lines, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 1,374,628   |
|                                                                                                                                                       |                 |             |                                   | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,192,462   |
|                                                                                                                                                       |                 |             |                                   | Automobiles & Components - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Auto Parts & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 17,233               |             |                                   | Johnson Controls, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 603,327     |
|                                                                                                                                                       |                 |             |                                   | Automobile Manufacturers - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 60,488               |             |                                   | Ford Motor Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 829,290     |
|                                                                                                                                                       |                 |             |                                   | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 1,432,617   |
|                                                                                                                                                       |                 |             |                                   | Consumer Durables & Apparel - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       |                 |             |                                   | Apparel, Accessories & Luxury Goods - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 36,920               |             |                                   | True Religion Apparel, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 999,055     |
|                                                                                                                                                       |                 |             |                                   | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 999,055     |
|                                                                                                                                                       |                 |             |                                   | Consumer Services - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       |                 |             |                                   | Restaurants - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 5,139                |             |                                   | Chipotle Mexican Grill, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 1,866,433   |
|                                                                                                                                                       | 30,869               |             |                                   | McDonald's Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 3,152,960   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,019,393   |
|                                                                                                                                                       |                 |             |                                   | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 5,019,393   |
|                                                                                                                                                       |                 |             |                                   | Media - 3.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Cable & Satellite - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 96,574               |             |                                   | Comcast Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 3,988,506   |
|                                                                                                                                                       |                 |             |                                   | Movies & Entertainment - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 86,445               |             |                                   | Regal Entertainment Group                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,550,823   |
|                                                                                                                                                       | 30,895               |             |                                   | The Walt Disney Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 1,941,442   |
|                                                                                                                                                       | 14,359               |             |                                   | Time Warner, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 858,381     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,350,646   |
|                                                                                                                                                       |                 |             |                                   | Publishing - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 98,316               |             |                                   | Gannett Co, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,982,051   |
|                                                                                                                                                       |                 |             |                                   | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 10,321,203  |
|                                                                                                                                                       |                 |             |                                   | Retailing - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Apparel Retail - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 12,000               |             |                                   | Ross Stores, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 792,840     |
|                                                                                                                                                       |                 |             |                                   | Home Improvement Retail - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 29,784               |             |                                   | Lowe's Companies, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,144,301   |
|                                                                                                                                                       | 29,262               |             |                                   | The Home Depot, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 2,146,368   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,290,669   |
|                                                                                                                                                       |                 |             |                                   | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 4,083,509   |
|                                                                                                                                                       |                 |             |                                   | Food & Staples Retailing - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Drug Retail - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 39,293               |             |                                   | CVS Caremark Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 2,286,067   |
|                                                                                                                                                       | 66,030               |             |                                   | Walgreen Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 3,269,145   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,555,212   |
|                                                                                                                                                       |                 |             |                                   | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 5,555,212   |
|                                                                                                                                                       |                 |             |                                   | Food, Beverage & Tobacco - 4.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Soft Drinks - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 28,431               |             |                                   | Coca-Cola Enterprises, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,041,428   |
|                                                                                                                                                       | 32,073               |             |                                   | PepsiCo, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 2,645,060   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,686,488   |
|                                                                                                                                                       |                 |             |                                   | Packaged Foods & Meats - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 18,000               |             |                                   | Green Mountain Coffee Roasters, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,033,200   |
|                                                                                                                                                       | 22,781               |             |                                   | Hillshire Brands Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 818,066     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,851,266   |
|                                                                                                                                                       |                 |             |                                   | Tobacco - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 82,880               |             |                                   | Altria Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 3,025,949   |
|                                                                                                                                                       | 45,570               |             |                                   | Philip Morris International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 4,356,036   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 7,381,985   |
|                                                                                                                                                       |                 |             |                                   | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 12,919,739  |
|                                                                                                                                                       |                 |             |                                   | Household & Personal Products - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       |                 |             |                                   | Household Products - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 9,759                |             |                                   | Colgate-Palmolive Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 1,165,322   |
|                                                                                                                                                       | 24,773               |             |                                   | The Procter & Gamble Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 1,901,823   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,067,145   |
|                                                                                                                                                       |                 |             |                                   | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 3,067,145   |
|                                                                                                                                                       |                 |             |                                   | Health Care Equipment & Services - 2.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       |                 |             |                                   | Health Care Equipment - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 20,479               |             |                                   | Covidien Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,307,379   |
|                                                                                                                                                       |                 |             |                                   | Health Care Distributors - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 31,770               |             |                                   | McKesson Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 3,361,901   |
|                                                                                                                                                       |                 |             |                                   | Health Care Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 19,108               |             |                                   | Express Scripts Holding Co. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 1,134,442   |
|                                                                                                                                                       |                 |             |                                   | Managed Health Care - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 41,271               |             |                                   | UnitedHealth Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 2,473,371   |
|                                                                                                                                                       |                 |             |                                   | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 8,277,093   |
|                                                                                                                                                       |                 |             |                                   | Pharmaceuticals, Biotechnology & Life Sciences - 6.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       |                 |             |                                   | Biotechnology - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 12,017               |             |                                   | Amgen, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,252,292   |
|                                                                                                                                                       | 21,344               |             |                                   | Celgene Corp. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 2,520,086   |
|                                                                                                                                                       | 40,903               |             |                                   | Gilead Sciences, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 2,071,328   |
|                                                                                                                                                       | 18,231               |             |                                   | Vertex Pharmaceuticals, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 1,400,505   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 7,244,211   |
|                                                                                                                                                       |                 |             |                                   | Pharmaceuticals - 4.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 26,455               |             |                                   | AbbVie, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,218,253   |
|                                                                                                                                                       | 17,334               |             |                                   | Actavis, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 1,832,724   |
|                                                                                                                                                       | 15,456               |             |                                   | AstraZeneca Plc (A.D.R.)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 802,476     |
|                                                                                                                                                       | 47,762               |             |                                   | Johnson & Johnson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 4,070,755   |
|                                                                                                                                                       | 183,500              |             |                                   | Pfizer, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 5,334,345   |
|                                                                                                                                                       | 1,600                |             |                                   | Zoetis, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 52,832      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 13,311,385  |
|                                                                                                                                                       |                 |             |                                   | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 20,555,596  |
|                                                                                                                                                       |                 |             |                                   | Banks - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 22,150               |             |                                   | US Bancorp                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 737,152     |
|                                                                                                                                                       |                 |             |                                   | Regional Banks - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 100,116              |             |                                   | KeyCorp                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 998,157     |
|                                                                                                                                                       | 44,081               |             |                                   | The PNC Financial Services Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 2,992,218   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,990,375   |
|                                                                                                                                                       |                 |             |                                   | Thrifts & Mortgage Finance - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 91,424               |             |                                   | New York Community Bancorp, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,238,795   |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 5,966,322   |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 4.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Other Diversified Financial Services - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 82,708               |             |                                   | Citigroup, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 3,859,155   |
|                                                                                                                                                       |                 |             |                                   | Consumer Finance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 47,035               |             |                                   | Discover Financial Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 2,057,311   |
|                                                                                                                                                       |                 |             |                                   | Asset Management & Custody Banks - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 94,461               |             |                                   | Ares Capital Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 1,715,412   |
|                                                                                                                                                       | 7,149                |             |                                   | Franklin Resources, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,105,664   |
|                                                                                                                                                       | 24,827               |             |                                   | The Carlyle Group LP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 806,381     |
|                                                                                                                                                       | 16,658               |             |                                   | Walter Investment Management Corp. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 559,042     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,186,499   |
|                                                                                                                                                       |                 |             |                                   | Investment Banking & Brokerage - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 18,537               |             |                                   | The Goldman Sachs Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 2,707,700   |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 12,810,665  |
|                                                                                                                                                       |                 |             |                                   | Real Estate - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       |                 |             |                                   | Residential REIT's - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 37,995               |             |                                   | American Campus Communities, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,696,097   |
|                                                                                                                                                       |                 |             |                                   | Specialized REIT's - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 93,898               |             |                                   | Chesapeake Lodging Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 2,221,627   |
|                                                                                                                                                       | 18,984               |             |                                   | Plum Creek Timber Co, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 978,435     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,200,062   |
|                                                                                                                                                       |                 |             |                                   | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,896,159   |
|                                                                                                                                                       |                 |             |                                   | Software & Services - 5.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   | Internet Software & Services - 2.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 18,380               |             |                                   | eBay, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 962,928     |
|                                                                                                                                                       | 7,130                |             |                                   | Google, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 5,879,188   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 6,842,116   |
|                                                                                                                                                       |                 |             |                                   | Data Processing & Outsourced Services - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       | 8,256                |             |                                   | Visa, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 1,390,806   |
|                                                                                                                                                       |                 |             |                                   | Application Software - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 26,287               |             |                                   | Adobe Systems, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 1,185,018   |
|                                                                                                                                                       | 17,345               |             |                                   | Citrix Systems, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 1,078,339   |
|                                                                                                                                                       | 31,698               |             |                                   | Nuance Communications, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 603,530     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,866,887   |
|                                                                                                                                                       |                 |             |                                   | Systems Software - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 30,686               |             |                                   | Check Point Software Technologies, Ltd. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,430,581   |
|                                                                                                                                                       | 113,930              |             |                                   | Microsoft Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 3,771,083   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,201,664   |
|                                                                                                                                                       |                 |             |                                   | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 16,301,473  |
|                                                                                                                                                       |                 |             |                                   | Technology Hardware & Equipment - 4.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       |                 |             |                                   | Communications Equipment - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 11,616               |             |                                   | Motorola Solutions, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 664,435     |
|                                                                                                                                                       | 80,005               |             |                                   | Qualcomm, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 4,929,908   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,594,343   |
|                                                                                                                                                       |                 |             |                                   | Computer Hardware - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 12,573               |             |                                   | Apple, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 5,566,696   |
|                                                                                                                                                       |                 |             |                                   | Computer Storage & Peripherals - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 30,932               |             |                                   | EMC Corp. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 693,805     |
|                                                                                                                                                       | 16,548               |             |                                   | SanDisk Corp. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 867,777     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,561,582   |
|                                                                                                                                                       |                 |             |                                   | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 12,722,621  |
|                                                                                                                                                       |                 |             |                                   | Semiconductors & Semiconductor Equipment - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Semiconductors - 2.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 36,629               |             |                                   | Analog Devices, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,611,310   |
|                                                                                                                                                       | 55,293               |             |                                   | Intel Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 1,324,267   |
|                                                                                                                                                       | 33,065               |             |                                   | Maxim Integrated Products, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 1,022,700   |
|                                                                                                                                                       | 54,478               |             |                                   | Microchip Technology, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 1,984,089   |
|                                                                                                                                                       | 34,849               |             |                                   | Xilinx, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 1,321,126   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 7,263,492   |
|                                                                                                                                                       |                 |             |                                   | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 7,263,492   |
|                                                                                                                                                       |                 |             |                                   | Telecommunication Services - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       |                 |             |                                   | Integrated Telecommunication Services - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 84,537               |             |                                   | CenturyLink, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,176,055   |
|                                                                                                                                                       |                 |             |                                   | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 3,176,055   |
|                                                                                                                                                       |                 |             |                                   | Utilities - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Gas Utilities - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 18,924               |             |                                   | ONEOK, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 971,937     |
|                                                                                                                                                       |                 |             |                                   | Multi-Utilities - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 29,200               |             |                                   | Ameren Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,058,500   |
|                                                                                                                                                       |                 |             |                                   | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 2,030,437   |
|                                                                                                                                                       |                 |             |                                   | TOTAL COMMON STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $150,252,440)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 192,120,952 |
|                                                                                                                                                       | Principal Amount ($) |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|                                                                                                                                                       |                 |             |                                   | ASSET BACKED SECURITIES - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   | Materials - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Metals & Mining - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 100,428              |             | BBB+/Baa1                              | Lehman ABS Manufactured Housing Contract Trust 2001-B, 5.873%, 4/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 109,677     |
|                                                                                                                                                       |                 |             |                                   | Precious Metals & Minerals - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 311,983              |             | AA+/A2                                 | Credit-Based Asset Servicing and Securitization LLC, 5.334%, 7/25/35 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 308,989     |
|                                                                                                                                                       |                 |             |                                   | Steel - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 106,783              | 1.28             | AAA/A1                                 | Accredited Mortgage Loan Trust 2004-3, Floating Rate Note, 10/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 102,154     |
|                                                                                                                                                       | 6,436                | 0.86             | AA+/A3                                 | Asset Backed Securities Corp. Home Equity, Floating Rate Note, 4/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 6,425     |
|                                                                                                                                                       | 34,423               | 1.55             | A+/Ba1                                 | CDC Mortgage Capital Trust 2003-HE1, Floating Rate Note, 8/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 32,531      |
|                                                                                                                                                       | 37,119               | 0.61             | AAA/Aaa                                | Home Equity Asset Trust 2005-5, Floating Rate Note, 11/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 36,797      |
|                                                                                                                                                       | 61,918               | 0.48             | AAA/Aa1                                | Home Equity Asset Trust 2005-6, Floating Rate Note, 12/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 61,486      |
|                                                                                                                                                       | 115,505              |             | AAA/Aaa                                | HSBC Home Equity Loan Trust USA 2006-3, 5.63%, 3/20/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 116,437     |
|                                                                                                                                                       | 246,195              | 0.46             | AA+/Aa3                                | Option One Mortgage Loan Trust 2005-4 Asset-Backed Certificates Series 2005-4, Floating Rate Note, 11/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 241,895   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 597,725     |
|                                                                                                                                                       |                 |             |                                   | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,016,391   |
|                                                                                                                                                       |                 |             |                                   | Banks - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Banks - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 82,171               | 0.29             | NR/Aa1                                 | Wells Fargo Home Equity Asset-Backed Securities 2007-2 Trust, Floating Rate Note, 4/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 81,537      |
|                                                                                                                                                       |                 |             |                                   | Thrifts & Mortgage Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 425,163              |             | BB-/B1                                 | Citicorp Residential Mortgage Trust Series 2006-1, 5.939%, 7/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 424,066     |
|                                                                                                                                                       | 37,567               | 0.61             | AAA/A3                                 | Citigroup Mortgage Loan Trust, Inc., Floating Rate Note, 7/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 37,555      |
|                                                                                                                                                       | 5,203                |             | AA/NR                                  | Leaf Receivables Funding 4 LLC, 4.9%, 2/20/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 5,203       |
|                                                                                                                                                       | 157,585              |             | A/NR                                   | STORE Master Funding LLC, 5.77%, 8/20/42 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 168,082     |
|                                                                                                                                                       | 44,287               | 0.60             | AA+/Aa1                                | Structured Asset Investment Loan Trust 2005-4, Floating Rate Note, 5/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 44,014    |
|                                                                                                                                                       | 150,000              | 0.33             | CCC/Ba2                                | Structured Asset Securities Corp Mortgage Loan Trust 2007-BC2, Floating Rate Note, 3/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 144,009   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 822,929     |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 904,466     |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Specialized Finance - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 883,125              |             | BBB+/Baa1                              | Domino's Pizza Master Issuer LLC, 5.216%, 1/25/42 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 992,527     |
|                                                                                                                                                       | 305,000              | 0.64             | NR/Aaa                                 | GE Dealer Floorplan Master Note Trust, Floating Rate Note, 10/20/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 305,608     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,298,135   |
|                                                                                                                                                       |                 |             |                                   | Consumer Finance - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 309,625              |             | NR/Aa3                                 | California Republic Auto Receivables Trust 2012-1, 1.18%, 8/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 309,756     |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,607,891   |
|                                                                                                                                                       |                 |             |                                   | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $3,349,486)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,528,748   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | COLLATERALIZED MORTGAGE OBLIGATIONS - 3.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       |                 |             |                                   | Banks - 2.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Thrifts & Mortgage Finance - 2.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 349,555              |             | B-/NR                                  | Alternative Loan Trust 2004-14T2, 5.5%, 8/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 345,886     |
|                                                                                                                                                       | 79,022               |             | BBB+/Ba3                               | Alternative Loan Trust 2004-2CB, 5.125%, 3/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 79,918      |
|                                                                                                                                                       | 232,885              |             | CCC/Caa3                               | Alternative Loan Trust 2005-1CB, 5.5%, 3/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 212,597     |
|                                                                                                                                                       | 212,147              |             | A+/Baa2                                | Banc of America Alternative Loan Trust 2003-2, 5.75%, 4/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 230,161     |
|                                                                                                                                                       | 390,788              |             | NR/Baa2                                | Banc of America Alternative Loan Trust 2003-7, 5.5%, 9/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 397,742     |
|                                                                                                                                                       | 312,768              |             | NR/Ba2                                 | Banc of America Alternative Loan Trust 2004-2, 6.0%, 3/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 322,590     |
|                                                                                                                                                       | 61,127               | 0.30             | AAA/NR                                 | Banc of America Funding 2010-R4 Trust, Floating Rate Note, 9/26/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 60,644    |
|                                                                                                                                                       | 158,582              | 2.34             | AA+/Baa2                               | Bear Stearns ARM Trust 2003-5, Floating Rate Note, 8/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 157,758     |
|                                                                                                                                                       | 75,886               |             | AAA/Aaa                                | Bear Stearns Commercial Mortgage Securities Trust 2004-PWR6, 4.705%, 11/11/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 77,239    |
|                                                                                                                                                       | 100,000              | 4.65             | AA-/A1                                 | City Center Trust 2011-CCHP, Floating Rate Note, 7/15/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 100,392     |
|                                                                                                                                                       | 168,000              |             | AAA/Aaa                                | COMM 2012-CCRE4 Mortgage Trust, 2.436%, 10/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 171,560     |
|                                                                                                                                                       | 170,977              | 5.73             | B/NR                                   | GSR Mortgage Loan Trust 2004-3F, Floating Rate Note, 2/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 166,722     |
|                                                                                                                                                       | 250,000              |             | AAA/NR                                 | JP Morgan Chase Commercial Mortgage Securities Trust 2010-C2, 3.616%, 11/15/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 273,830   |
|                                                                                                                                                       | 156,630              | 2.15             | A+/Baa1                                | JP Morgan Mortgage Trust 2003-A1, Floating Rate Note, 10/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 159,421     |
|                                                                                                                                                       | 14,679               | 5.41             | AAA/Aaa                                | Lehman Brothers Small Balance Commercial Mortgage Trust 2006-3, Floating Rate Note, 12/25/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 14,784    |
|                                                                                                                                                       | 27,107               | 1.05             | AAA/Aaa                                | Lehman Brothers Small Balance Commercial Mortgage Trust 2007-3 Class 1A2, Floating Rate Note, 10/25/37 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 27,023    |
|                                                                                                                                                       | 138,900              | 0.45             | AAA/Aa1                                | Lehman Brothers Small Balance Commercial, Floating Rate Note, 2/25/30 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 123,621   |
|                                                                                                                                                       | 194,801              |             | B-/NR                                  | MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 198,747     |
|                                                                                                                                                       | 266,651              | 0.66             | AA+/Ba3                                | Merrill Lynch Mortgage Investors Trust Series MLCC 2005-A, Floating Rate Note, 3/25/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 253,379   |
|                                                                                                                                                       | 831,919              |             | BBB-/Baa3                              | RALI Series 2003-QR24 Trust, 4.0%, 7/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 856,389     |
|                                                                                                                                                       | 109,214              | 0.78             | A+/A2                                  | RAMP Series 2004-SL1 Trust, Floating Rate Note, 10/25/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 79,128      |
|                                                                                                                                                       | 185,153              |             | BBB/NR                                 | Residential Asset Securitization Trust 2004-A8, 5.25%, 11/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 188,076     |
|                                                                                                                                                       | 284,002              |             | CCC/NR                                 | Residential Asset Securitization Trust 2005-A9, 5.5%, 7/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 286,178     |
|                                                                                                                                                       | 173,500              | 0.88             | AA+/A2                                 | Structured Asset Mortgage Investments II Trust 2004-AR8, Floating Rate Note, 5/19/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 169,009   |
|                                                                                                                                                       | 350,000              |             | BB/B1                                  | Timberstar Trust, 7.53%, 10/15/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 362,321     |
|                                                                                                                                                       | 356,638              | 2.50             | BBB/NR                                 | WaMu Mortgage Pass Through Certificates, Floating Rate Note, 3/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 354,224   |
|                                                                                                                                                       | 375,000              |             | NR/Aaa                                 | Wells Fargo Commercial Mortgage Trust 2012-LC5, 3.539%, 10/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 396,232     |
|                                                                                                                                                       | 160,438              |             | BB+/Ba2                                | Wells Fargo Mortgage Backed Securities 2005-9 Trust, 5.5%, 10/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 163,612     |
|                                                                                                                                                       | 214,880              | 2.64             | NR/Ba2                                 | Wells Fargo Mortgage Backed Securities 2006-AR6 Trust, Floating Rate Note, 3/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 213,177   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 6,442,360   |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 6,442,360   |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Other Diversified Financial Services - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 170,462              | 5.07             | BBB+/NR                                | Banc of America Mortgage 2005-H Trust, Floating Rate Note, 9/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 170,570     |
|                                                                                                                                                       | 86,632               |             | A+/NR                                  | Banc of America Mortgage Trust 2004-11, 5.75%, 1/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 88,788      |
|                                                                                                                                                       | 333,000              | 1.50             | AA-/NR                                 | Del Coronado Trust, Floating Rate Note, 3/15/26 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 333,025     |
|                                                                                                                                                       | 300,000              | 5.49             | NR/A2                                  | LSTAR Commercial Mortgage Trust, Floating Rate Note, 6/25/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 323,866   |
|                                                                                                                                                       | 46,942               | 2.52             | BBB+/NR                                | Merrill Lynch Mortgage Investors Trust Series MLMI 2005-A2, Floating Rate Note, 2/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 47,635    |
|                                                                                                                                                       | 202,049              | 2.52             | A+/NR                                  | Merrill Lynch Mortgage Investors Trust Series MLMI 2005-A2, Floating Rate Note, 2/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 203,064   |
|                                                                                                                                                       | 682,765              |             | NR/B1                                  | RALI Series 2004-QS13 Trust, 5.0%, 9/25/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 701,912     |
|                                                                                                                                                       | 108,162              | 0.80             | BB+/Ba3                                | RALI Series 2004-QS5 Trust, Floating Rate Note, 4/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 103,660     |
|                                                                                                                                                       | 166,811              | 3.00             | BB+/Ba2                                | Structured Adjustable Rate Mortgage Loan Trust Class 1A1, Floating Rate Note, 3/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 162,707   |
|                                                                                                                                                       | 128,150              | 2.57             | BBB-/B3                                | Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 1/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 123,940   |
|                                                                                                                                                       | 176,281              | 2.79             | A+/Ba2                                 | Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 9/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 176,781   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,435,948   |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 2,435,948   |
|                                                                                                                                                       |                 |             |                                   | Real Estate - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       |                 |             |                                   | Mortgage REIT's - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 109,000              | 3.82             | NR/NR                                  | FREMF Mortgage Trust Class B, Floating Rate Note, 6/25/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 115,404     |
|                                                                                                                                                       |                 |             |                                   | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 115,404     |
|                                                                                                                                                       |                 |             |                                   | Government - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       |                 |             |                                   | Government - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 31,476               |             | AA+/AAA                                | Fannie Mae Benchmark REMIC, 5.45%, 12/25/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 31,911      |
|                                                                                                                                                       | 50,817               |             | AA+/AAA                                | Fannie Mae REMICS, 5.5%, 10/25/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 50,924      |
|                                                                                                                                                       | 132,298              | 0.52             | AA+/AAA                                | Fannie Mae REMICS, Floating Rate Note, 11/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 132,833     |
|                                                                                                                                                       | 216,406              | 4.21             | AA+/AAA                                | Fannie Mae REMICS, Floating Rate Note, 3/25/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 226,074     |
|                                                                                                                                                       | 211,586              | 0.50             | AA+/AAA                                | Fannie Mae REMICS, Floating Rate Note, 4/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 211,901     |
|                                                                                                                                                       | 521,804              | 0.65             | AA+/AAA                                | Fannie Mae REMICS, Floating Rate Note, 7/25/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 526,853     |
|                                                                                                                                                       | 104,730              | 0.75             | AA+/AAA                                | Fannie Mae REMICS, Floating Rate Note, 9/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 105,666     |
|                                                                                                                                                       | 781,559              |             | AA+/AAA                                | Freddie Mac REMICS, 3.5%, 11/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 861,013     |
|                                                                                                                                                       | 77,134               |             | AA+/AAA                                | Freddie Mac REMICS, 5.0%, 6/15/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 79,535      |
|                                                                                                                                                       | 88,141               | 0.90             | AA+/AAA                                | Freddie Mac REMICS, Floating Rate Note, 2/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 88,406      |
|                                                                                                                                                       | 66,870               | 0.70             | AA+/AAA                                | Government National Mortgage Association, Floating Rate Note, 11/20/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 67,763    |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,382,879   |
|                                                                                                                                                       |                 |             |                                   | Total Government                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 2,382,879   |
|                                                                                                                                                       |                 |             |                                   | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $11,033,595)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 11,376,591  |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | CORPORATE BONDS - 21.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       |                 |             |                                   | Energy - 2.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Drilling - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 225,000              |             | BBB+/Baa1                              | Pride International, Inc., 6.875%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 285,954     |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa3                              | Transocean, Inc., 6.375%, 12/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 299,455     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 585,409     |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Equipment & Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 355,000              |             | BBB-/Baa2                              | Weatherford International, Ltd. Bermuda, 9.625%, 3/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 469,407     |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Exploration & Production - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 175,000              |             | BBB+/Baa1                              | Canadian Natural Resources, Ltd., 5.9%, 2/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 208,731     |
|                                                                                                                                                       | 200,000              |             | NR/A1                                  | Dolphin Energy, Ltd., 5.5%, 12/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 237,000     |
|                                                                                                                                                       | 400,000              |             | BBB-/Baa3                              | Novatek OAO via Novatek Finance, Ltd., 4.422%, 12/13/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 402,500     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 848,231     |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Refining & Marketing - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 360,000              |             | A/A2                                   | Motiva Enterprises LLC, 5.75%, 1/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 436,573     |
|                                                                                                                                                       | 525,000              |             | BBB/Baa2                               | Spectra Energy Capital LLC, 6.2%, 4/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 635,365     |
|                                                                                                                                                       | 370,000              |             | BBB/Baa2                               | Valero Energy Corp., 9.375%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 508,521     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,580,459   |
|                                                                                                                                                       |                 |             |                                   | Oil & Gas Storage & Transportation - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 90,000               |             | BBB-/Baa2                              | Boardwalk Pipelines LP, 5.5%, 2/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 100,520     |
|                                                                                                                                                       | 125,000              |             | BBB-/Baa3                              | Buckeye Partners LP, 6.05%, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 142,308     |
|                                                                                                                                                       | 385,000              |             | BBB/Baa2                               | DCP Midstream LLC, 9.75%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 508,515     |
|                                                                                                                                                       | 400,000              | 7.00             | BBB-/Baa2                              | Enterprise Products Operating LLC, Floating Rate Note, 6/1/67                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 432,000     |
|                                                                                                                                                       | 550,000              |             | BBB/Baa2                               | Kinder Morgan Energy Partners LP, 5.95%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 660,352     |
|                                                                                                                                                       | 450,000              |             | BBB/Baa2                               | Plains All American Pipeline LP, 6.125%, 1/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 528,212     |
|                                                                                                                                                       | 425,000              |             | A/A3                                   | Questar Pipeline Co., 5.83%, 2/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 496,696     |
|                                                                                                                                                       | 200,000              |             | BBB/Baa2                               | Spectra Energy Capital LLC, 6.75%, 7/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 235,555     |
|                                                                                                                                                       | 242,000              |             | BBB-/Baa3                              | The Williams Companies, Inc., 7.75%, 6/15/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 308,760     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,412,918   |
|                                                                                                                                                       |                 |             |                                   | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 6,896,424   |
|                                                                                                                                                       |                 |             |                                   | Materials - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Industrial Gases - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 460,000              |             | BBB/Baa2                               | Airgas, Inc., 2.85%, 10/1/13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 464,411     |
|                                                                                                                                                       |                 |             |                                   | Specialty Chemicals - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 200,000              |             | BBB/Baa2                               | Cytec Industries, Inc., 3.5%, 4/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 204,865     |
|                                                                                                                                                       |                 |             |                                   | Construction Materials - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 125,000              |             | BBB/Baa2                               | Holcim US Finance Sarl & Cie SCS, 6.0%, 12/30/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 146,832     |
|                                                                                                                                                       |                 |             |                                   | Aluminum - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 180,000              |             | BBB-/Baa3                              | Alcoa, Inc., 6.15%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 196,215     |
|                                                                                                                                                       |                 |             |                                   | Diversified Metals & Mining - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 450,000              |             | BBB-/Baa2                              | AngloGold Ashanti Holdings Plc, 5.375%, 4/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 471,761     |
|                                                                                                                                                       | 150,000              |             | BBB/Baa3                               | Freeport-McMoRan Copper & Gold, Inc., 3.875%, 3/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 151,198     |
|                                                                                                                                                       | 350,000              |             | BB+/Ba1                                | Gold Fields Orogen Holding BVI, Ltd., 4.875%, 10/7/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 336,672     |
|                                                                                                                                                       | 425,000              |             | A-/Baa2                                | Vale Canada, Ltd., 7.2%, 9/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 507,431     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,467,062   |
|                                                                                                                                                       |                 |             |                                   | Steel - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 230,000              |             | BB+/Ba1                                | ArcelorMittal, 6.125%, 6/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 251,941     |
|                                                                                                                                                       | 195,000              |             | BB+/Ba2                                | Commercial Metals Co., 7.35%, 8/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 215,475     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 467,416     |
|                                                                                                                                                       |                 |             |                                   | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 2,946,801   |
|                                                                                                                                                       |                 |             |                                   | Capital Goods - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Aerospace & Defense - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 250,000              |             | A-/A2                                  | Precision Castparts Corp., 1.25%, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 251,162     |
|                                                                                                                                                       |                 |             |                                   | Building Products - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 520,000              |             | BBB-/Ba3                               | Masco Corp., 7.125%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 605,667     |
|                                                                                                                                                       |                 |             |                                   | Industrial Conglomerates - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 536,000              |             | A/A2                                   | Cargill, Inc., 4.307%, 5/14/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 603,371     |
|                                                                                                                                                       |                 |             |                                   | Construction & Farm Machinery & Heavy Trucks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 250,000              |             | A/A3                                   | Cummins, Inc., 5.65%, 3/1/98                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 265,208     |
|                                                                                                                                                       | 130,000              |             | A/A3                                   | Cummins, Inc., 6.75%, 2/15/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 165,593     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 430,801     |
|                                                                                                                                                       |                 |             |                                   | Industrial Machinery - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 150,000              |             | BBB-/Baa3                              | Valmont Industries, Inc., 6.625%, 4/20/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 179,001     |
|                                                                                                                                                       |                 |             |                                   | Trading Companies & Distributors - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 875,000              |             | BB+/NR                                 | Aviation Capital Group Corp., 6.75%, 4/6/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 976,930     |
|                                                                                                                                                       |                 |             |                                   | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 3,046,932   |
|                                                                                                                                                       |                 |             |                                   | Transportation - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | Airlines - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 4,663                |             | BBB+/Baa2                              | Continental Airlines 1998-1 Class A Pass Through Trust, 6.648%, 9/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 5,050       |
|                                                                                                                                                       | 86,933               |             | A-/Baa2                                | Delta Air Lines 2010-2 Class A Pass Through Trust, 4.95%, 5/23/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 95,409      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 100,459     |
|                                                                                                                                                       |                 |             |                                   | Trucking - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 435,000              |             | BBB-/Baa2                              | Asciano Finance, Ltd., 5.0%, 4/7/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 478,587     |
|                                                                                                                                                       |                 |             |                                   | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 579,046     |
|                                                                                                                                                       |                 |             |                                   | Automobiles & Components - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Automobile Manufacturers - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 55,000               |             | BBB+/Baa1                              | Hyundai Motor Manufacturing Czech sro, 4.5%, 4/15/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 58,092      |
|                                                                                                                                                       | 70,000               |             | BBB+/A3                                | Nissan Motor Acceptance Corp., 4.5%, 1/30/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 74,444      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 132,536     |
|                                                                                                                                                       |                 |             |                                   | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 132,536     |
|                                                                                                                                                       |                 |             |                                   | Consumer Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       |                 |             |                                   | Hotels, Resorts & Cruise Lines - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 240,000              |             | BBB/Baa2                               | Marriott International, Inc. Delaware, 3.25%, 9/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 244,082     |
|                                                                                                                                                       |                 |             |                                   | Education Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 250,000              |             | AAA/Aaa                                | Massachusetts Institute of Technology, 5.6%, 7/1/11                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 351,060     |
|                                                                                                                                                       | 300,000              |             | AAA/Aaa                                | The Board of Trustees of The Leland Stanford Junior University, 4.75%, 5/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 358,011   |
|                                                                                                                                                       | 250,000              |             | A+/A1                                  | The George Washington University, 1.827%, 9/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 256,434     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 965,505     |
|                                                                                                                                                       |                 |             |                                   | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 1,209,587   |
|                                                                                                                                                       |                 |             |                                   | Media - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Broadcasting - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       | 512,000              |             | BBB+/Baa1                              | News America, Inc., 7.3%, 4/30/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 661,520     |
|                                                                                                                                                       |                 |             |                                   | Cable & Satellite - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 125,000              |             | BBB+/Baa1                              | British Sky Broadcasting Group Plc, 6.1%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 149,171     |
|                                                                                                                                                       | 400,000              |             | BBB/Baa2                               | Time Warner Cable, Inc., 5.0%, 2/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 461,830     |
|                                                                                                                                                       | 100,000              |             | BBB/Baa2                               | Time Warner Cable, Inc., 8.25%, 4/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 131,231     |
|                                                                                                                                                       | 50,000               |             | BBB/Baa2                               | Time Warner Cable, Inc., 8.75%, 2/14/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 66,853      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 809,085     |
|                                                                                                                                                       |                 |             |                                   | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,470,605   |
|                                                                                                                                                       |                 |             |                                   | Retailing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Internet Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 425,000              |             | BBB-/Ba1                               | Expedia, Inc., 5.95%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 476,174     |
|                                                                                                                                                       |                 |             |                                   | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 476,174     |
|                                                                                                                                                       |                 |             |                                   | Food & Staples Retailing - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Drug Retail - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 183,491              |             | BBB+/Baa2                              | CVS Pass-Through Trust, 5.298%, 1/11/27 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 209,085     |
|                                                                                                                                                       | 118,219              |             | BBB+/Baa2                              | CVS Pass-Through Trust, 5.773%, 1/10/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 140,681     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 349,766     |
|                                                                                                                                                       |                 |             |                                   | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 349,766     |
|                                                                                                                                                       |                 |             |                                   | Food, Beverage & Tobacco - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Brewers - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 55,000               |             | A/A3                                   | Anheuser-Busch InBev Worldwide, Inc., 7.75%, 1/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 72,553      |
|                                                                                                                                                       |                 |             |                                   | Soft Drinks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 200,000              |             | BBB/A3                                 | Coca-Cola Enterprises, Inc., 4.5%, 9/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 228,686     |
|                                                                                                                                                       |                 |             |                                   | Agricultural Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 410,000              |             | BBB/Baa2                               | Viterra, Inc., 5.95%, 8/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 447,302     |
|                                                                                                                                                       |                 |             |                                   | Packaged Foods & Meats - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 250,000              |             | BBB/Baa2                               | Kraft Foods Group, Inc., 3.5%, 6/6/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 266,544     |
|                                                                                                                                                       |                 |             |                                   | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 1,015,085   |
|                                                                                                                                                       |                 |             |                                   | Household & Personal Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       |                 |             |                                   | Personal Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 200,000              |             | BBB-/Baa2                              | Avon Products, Inc., 5.0%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 217,609     |
|                                                                                                                                                       |                 |             |                                   | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 217,609     |
|                                                                                                                                                       |                 |             |                                   | Health Care Equipment & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       |                 |             |                                   | Health Care Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 230,000              |             | BBB+/Baa3                              | Express Scripts Holding Co., 3.125%, 5/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 243,446     |
|                                                                                                                                                       |                 |             |                                   | Managed Health Care - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 100,000              |             | A-/Baa2                                | WellPoint, Inc., 3.3%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 103,138     |
|                                                                                                                                                       |                 |             |                                   | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 346,584     |
|                                                                                                                                                       |                 |             |                                   | Pharmaceuticals, Biotechnology & Life Sciences - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       |                 |             |                                   | Biotechnology - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 285,000              |             | AA-/A1                                 | Genzyme Corp., 3.625%, 6/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 303,347     |
|                                                                                                                                                       |                 |             |                                   | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 303,347     |
|                                                                                                                                                       |                 |             |                                   | Banks - 2.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified Banks - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 270,000              |             | A+/A2                                  | Barclays Bank Plc, 5.2%, 7/10/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 284,188     |
|                                                                                                                                                       | 705,000              |             | BBB+/Baa3                              | Barclays Bank Plc, 6.05%, 12/4/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 798,148     |
|                                                                                                                                                       | 200,000              |             | AA-/Aa2                                | Cooperatieve Centrale Raiffeisen-Boerenleenbank BA Netherlands, 3.875%, 2/8/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 217,218   |
|                                                                                                                                                       | 200,000              |             | A+/Aa3                                 | HSBC Holdings Plc, 4.875%, 1/14/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 233,933     |
|                                                                                                                                                       | 250,000              |             | BBB+/Baa2                              | Intesa Sanpaolo S.p.A., 3.125%, 1/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 249,909     |
|                                                                                                                                                       | 200,000              |             | BBB+/Baa2                              | Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 217,672     |
|                                                                                                                                                       | 250,000              |             | BBB/A3                                 | Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 285,410     |
|                                                                                                                                                       | 250,000              |             | A/Baa1                                 | Nordea Bank AB, 4.25%, 9/21/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 263,380     |
|                                                                                                                                                       | 250,000              | 6.38             | A-/A3                                  | Northgroup Preferred Capital Corp., Floating Rate Note, 1/29/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 256,250   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,806,108   |
|                                                                                                                                                       |                 |             |                                   | Regional Banks - 1.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       | 138,000              |             | A-/A2                                  | BB&T Corp., 1.6%, 8/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 139,867     |
|                                                                                                                                                       | 250,000              |             | A-/A2                                  | BB&T Corp., 5.7%, 4/30/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 263,098     |
|                                                                                                                                                       | 250,000              |             | A/A2                                   | HSBC Bank USA NA New York NY, 6.0%, 8/9/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 293,064     |
|                                                                                                                                                       | 875,000              |             | BBB+/Baa1                              | KeyBank NA Cleveland Ohio, 5.8%, 7/1/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 926,600     |
|                                                                                                                                                       | 250,000              |             | BBB+/Baa1                              | KeyCorp, 6.5%, 5/14/13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 250,484     |
|                                                                                                                                                       | 450,000              |             | A/A1                                   | Mellon Funding Corp., 5.5%, 11/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 531,902     |
|                                                                                                                                                       | 850,000              |             | BBB-/Baa2                              | Sovereign Bank, 8.75%, 5/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 1,028,186   |
|                                                                                                                                                       | 1,000,000            | 8.25             | BBB/Baa3                               | The PNC Financial Services Group, Inc., Floating Rate Note, 5/29/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1,002,008 |
|                                                                                                                                                       | 1,100,000            | 6.75             | BBB/Baa3                               | The PNC Financial Services Group, Inc., Floating Rate Note, 7/29/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1,263,342 |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,698,551   |
|                                                                                                                                                       |                 |             |                                   | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 8,504,659   |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 4.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Other Diversified Financial Services - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 290,000              |             | BBB+/Baa2                              | Alterra Finance LLC, 6.25%, 9/30/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 344,446     |
|                                                                                                                                                       | 200,000              |             | A-/NR                                  | Carlyle Holdings Finance LLC, 3.875%, 2/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 208,573     |
|                                                                                                                                                       | 200,000              |             | A-/NR                                  | Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 203,576     |
|                                                                                                                                                       | 250,000              |             | AA+/A1                                 | General Electric Capital Corp., 5.625%, 9/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 293,449     |
|                                                                                                                                                       | 420,000              |             | AA+/A1                                 | General Electric Capital Corp., 6.75%, 3/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 549,321     |
|                                                                                                                                                       | 200,000              |             | BBB+/Baa1                              | Hyundai Capital Services, Inc., 3.5%, 9/13/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 213,260     |
|                                                                                                                                                       | 100,000              |             | BBB+/Baa1                              | Hyundai Capital Services, Inc., 6.0%, 5/5/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 108,835     |
|                                                                                                                                                       | 2,050,000            | 7.90             | BBB/Ba1                                | JPMorgan Chase & Co., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 2,387,549   |
|                                                                                                                                                       | 300,000              |             | A-/NR                                  | KKR Group Finance Co. II LLC, 5.5%, 2/1/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 298,579     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,607,588   |
|                                                                                                                                                       |                 |             |                                   | Specialized Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 600,000              |             | BBB-/WR                                | Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 625,960     |
|                                                                                                                                                       | 150,000              |             | BBB+/Baa1                              | Harley-Davidson Financial Services, Inc., 3.875%, 3/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 161,017     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 786,977     |
|                                                                                                                                                       |                 |             |                                   | Consumer Finance - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 260,000              |             | A+/A1                                  | American Honda Finance Corp., 6.7%, 10/1/13 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 266,573     |
|                                                                                                                                                       | 360,000              |             | BBB/Baa1                               | Capital One Bank USA NA, 8.8%, 7/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 489,539     |
|                                                                                                                                                       | 500,000              |             | BB+/Baa3                               | Ford Motor Credit Co. LLC, 3.875%, 1/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 520,271     |
|                                                                                                                                                       | 1,000,000            |             | BB+/Baa3                               | Ford Motor Credit Co. LLC, 4.25%, 2/3/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,076,816   |
|                                                                                                                                                       | 200,000              |             | BBB+/Baa1                              | Hyundai Capital America, 4.0%, 6/8/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 215,061     |
|                                                                                                                                                       | 265,000              | 4.00             | BBB-/Ba1                               | SLM Corp., Floating Rate Note, 7/25/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 267,782     |
|                                                                                                                                                       | 275,000              |             | CCC+/Caa1                              | Springleaf Finance Corp., 6.9%, 12/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 286,172     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,122,214   |
|                                                                                                                                                       |                 |             |                                   | Asset Management & Custody Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 210,000              |             | A/A3                                   | Ameriprise Financial, Inc., 5.3%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 252,385     |
|                                                                                                                                                       | 100,000              |             | AA-/A1                                 | Franklin Resources, Inc., 3.125%, 5/20/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 104,918     |
|                                                                                                                                                       | 220,000              |             | A+/A1                                  | State Street Corp., 4.3%, 5/30/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 229,362     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 586,665     |
|                                                                                                                                                       |                 |             |                                   | Investment Banking & Brokerage - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 1,060,000            | 4.00             | BB+/Ba2                                | Goldman Sachs Capital II, Floating Rate Note, 6/1/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 904,180     |
|                                                                                                                                                       | 550,000              |             | BBB/Baa3                               | Jefferies Group LLC, 5.125%, 4/13/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 609,297     |
|                                                                                                                                                       | 385,000              |             | BBB/Baa3                               | Jefferies Group LLC, 6.875%, 4/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 459,431     |
|                                                                                                                                                       | 250,000              |             | BBB/A3                                 | Macquarie Group, Ltd., 6.0%, 1/14/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 279,225     |
|                                                                                                                                                       | 235,000              |             | BBB/A3                                 | Macquarie Group, Ltd., 7.625%, 8/13/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 286,841     |
|                                                                                                                                                       | 750,000              |             | A-/Baa1                                | Morgan Stanley, 4.0%, 9/22/20 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 753,502     |
|                                                                                                                                                       | 250,000              |             | A-/Baa1                                | Morgan Stanley, 5.5%, 1/26/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 290,884     |
|                                                                                                                                                       | 250,000              |             | BBB/Baa2                               | Raymond James Financial, Inc., 5.625%, 4/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 289,101     |
|                                                                                                                                                       | 825,000              |             | NR/Baa3                                | Scottrade Financial Services, Inc., 6.125%, 7/11/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 857,173     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 4,729,634   |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 13,833,078  |
|                                                                                                                                                       |                 |             |                                   | Insurance - 3.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Insurance Brokers - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa3                              | Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 288,741     |
|                                                                                                                                                       |                 |             |                                   | Life & Health Insurance - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 420,000              |             | BBB/WR                                 | Delphi Financial Group, Inc., 7.875%, 1/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 524,455     |
|                                                                                                                                                       | 160,000              |             | A-/Baa2                                | Lincoln National Corp., 8.75%, 7/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 217,990     |
|                                                                                                                                                       | 280,000              | 6.05             | BBB/Ba1                                | Lincoln National Corp., Floating Rate Note, 4/20/67                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 283,500     |
|                                                                                                                                                       | 365,000              |             | BBB/Baa2                               | MetLife, Inc., 10.75%, 8/1/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 580,350     |
|                                                                                                                                                       | 220,000              |             | BBB+/A3                                | Principal Financial Group, Inc., 3.3%, 9/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 229,465     |
|                                                                                                                                                       | 335,000              |             | A-/Baa2                                | Protective Life Corp., 7.375%, 10/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 420,854     |
|                                                                                                                                                       | 250,000              |             | A/Baa2                                 | Prudential Financial, Inc., 4.5%, 11/16/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 282,574     |
|                                                                                                                                                       | 200,000              | 5.62             | BBB+/Baa3                              | Prudential Financial, Inc., Floating Rate Note, 6/15/43                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 210,000     |
|                                                                                                                                                       | 150,000              | 5.88             | BBB+/Baa3                              | Prudential Financial, Inc., Floating Rate Note, 9/15/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 162,093     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,911,281   |
|                                                                                                                                                       |                 |             |                                   | Multi-line Insurance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 250,000              |             | BBB/A3                                 | AXA SA, 8.6%, 12/15/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 322,264     |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa3                              | Genworth Holdings, Inc., 4.95%, 10/1/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 268,122     |
|                                                                                                                                                       | 350,000              |             | BBB-/Baa3                              | Genworth Holdings, Inc., 7.2%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 422,577     |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa3                              | Genworth Holdings, Inc., 7.625%, 9/24/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 313,541     |
|                                                                                                                                                       | 500,000              |             | BBB-/Baa2                              | Liberty Mutual Group, Inc., 7.3%, 6/15/14 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 530,189     |
|                                                                                                                                                       | 200,000              |             | A+/A2                                  | Loews Corp., 5.25%, 3/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 223,368     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,080,061   |
|                                                                                                                                                       |                 |             |                                   | Property & Casualty Insurance - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 200,000              |             | BBB-/Baa2                              | OneBeacon US Holdings, Inc., 4.6%, 11/9/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 211,611     |
|                                                                                                                                                       | 200,000              |             | A/Baa1                                 | QBE Insurance Group, Ltd., 2.4%, 5/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 201,286     |
|                                                                                                                                                       | 280,000              |             | BBB/Baa3                               | Sirius International Group, Ltd., 6.375%, 3/20/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 315,150     |
|                                                                                                                                                       | 250,000              | 7.51             | BB+/Ba2                                | Sirius International Group, Ltd., Floating Rate Note, 5/29/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 264,616   |
|                                                                                                                                                       | 200,000              | 6.50             | BBB/Baa1                               | The Allstate Corp., Floating Rate Note, 5/15/57                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 223,400     |
|                                                                                                                                                       | 400,000              |             | BBB-/Baa3                              | The Hanover Insurance Group, Inc., 7.5%, 3/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 474,877     |
|                                                                                                                                                       | 100,000              |             | BBB-/Baa3                              | The Hanover Insurance Group, Inc., 7.625%, 10/15/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 124,903     |
|                                                                                                                                                       | 250,000              | 6.50             | BBB-/Ba1                               | XL Group Plc, Floating Rate Note, 12/29/49 (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 245,625     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,061,468   |
|                                                                                                                                                       |                 |             |                                   | Reinsurance - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       | 260,000              |             | BBB/NR                                 | Montpelier Re Holdings, Ltd., 4.7%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 271,597     |
|                                                                                                                                                       | 250,000              | 9.00             | BB/NR                                  | Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 262,950     |
|                                                                                                                                                       | 450,000              |             | BBB/NR                                 | Platinum Underwriters Finance, Inc., 7.5%, 6/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 521,020     |
|                                                                                                                                                       | 275,000              |             | A-/Baa1                                | Reinsurance Group of America, Inc., 6.45%, 11/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 334,034     |
|                                                                                                                                                       | 265,000              | 6.75             | BBB-/Baa3                              | Reinsurance Group of America, Inc., Floating Rate Note, 12/15/65                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 269,638     |
|                                                                                                                                                       | 240,000              |             | BBB+/Baa2                              | Validus Holdings, Ltd., 8.875%, 1/26/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 336,153     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,995,392   |
|                                                                                                                                                       |                 |             |                                   | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 9,336,943   |
|                                                                                                                                                       |                 |             |                                   | Real Estate - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       |                 |             |                                   | Diversified REIT's - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 140,000              |             | BBB/Baa2                               | Digital Realty Trust LP, 4.5%, 7/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 149,333     |
|                                                                                                                                                       | 60,000               |             | BBB/Baa2                               | Digital Realty Trust LP, 5.875%, 2/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 70,159      |
|                                                                                                                                                       | 250,000              |             | BBB/Baa2                               | Goodman Funding Pty, Ltd., 6.0%, 3/22/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 290,625     |
|                                                                                                                                                       | 285,000              |             | BBB/Baa2                               | Goodman Funding Pty, Ltd., 6.375%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 334,621     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 844,738     |
|                                                                                                                                                       |                 |             |                                   | Office REIT's - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 110,000              |             | BBB-/Baa2                              | Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 121,351     |
|                                                                                                                                                       | 65,000               |             | BBB-/Baa3                              | BioMed Realty LP, 4.25%, 7/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 69,621      |
|                                                                                                                                                       | 250,000              |             | A-/Baa2                                | Boston Properties LP, 3.85%, 2/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 270,342     |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa3                              | Highwoods Realty LP, 3.625%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 250,788     |
|                                                                                                                                                       | 85,000               |             | BBB/Baa2                               | Mack-Cali Realty LP, 4.5%, 4/18/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 92,367      |
|                                                                                                                                                       | 500,000              |             | BBB/Baa2                               | Mack-Cali Realty LP, 5.125%, 2/15/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 515,014     |
|                                                                                                                                                       | 50,000               |             | BBB/Baa2                               | Mack-Cali Realty LP, 7.75%, 8/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 63,908      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,383,391   |
|                                                                                                                                                       |                 |             |                                   | Retail REIT's - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 245,000              |             | BBB-/Baa3                              | DDR Corp., 7.5%, 4/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 294,135     |
|                                                                                                                                                       | 435,000              |             | BBB/Baa2                               | Tanger Properties LP, 6.15%, 11/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 491,357     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 785,492     |
|                                                                                                                                                       |                 |             |                                   | Specialized REIT's - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 50,000               |             | BBB-/Baa3                              | CubeSmart LP, 4.8%, 7/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 55,873      |
|                                                                                                                                                       | 700,000              |             | BBB/Baa2                               | Health Care Real Estate Investment Trust, Inc., 6.2%, 6/1/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 802,963     |
|                                                                                                                                                       | 210,000              |             | BBB-/Baa3                              | Healthcare Realty Trust, Inc., 6.5%, 1/17/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 242,296     |
|                                                                                                                                                       | 250,000              |             | BBB-/Baa2                              | Hospitality Properties Trust, 5.0%, 8/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 271,531     |
|                                                                                                                                                       | 475,000              |             | BBB-/Baa2                              | Hospitality Properties Trust, 7.875%, 8/15/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 499,012     |
|                                                                                                                                                       | 382,000              |             | BBB-/Baa3                              | Senior Housing Properties Trust, 6.75%, 4/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 444,139     |
|                                                                                                                                                       | 270,000              |             | BBB/Baa2                               | Ventas Realty LP, 4.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 304,255     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,620,069   |
|                                                                                                                                                       |                 |             |                                   | Diversified Real Estate Activities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 235,000              |             | A-/A2                                  | WEA Finance LLC, 7.125%, 4/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 292,141     |
|                                                                                                                                                       |                 |             |                                   | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,925,831   |
|                                                                                                                                                       |                 |             |                                   | Software & Services - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   | Data Processing & Outsourced Services - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       | 44,000               |             | B-/Caa1                                | First Data Corp., 8.25%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 46,750      |
|                                                                                                                                                       |                 |             |                                   | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 46,750      |
|                                                                                                                                                       |                 |             |                                   | Semiconductors & Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       | 185,000              |             | BBB/Baa1                               | KLA-Tencor Corp., 6.9%, 5/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 222,726     |
|                                                                                                                                                       |                 |             |                                   | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 222,726     |
|                                                                                                                                                       |                 |             |                                   | Telecommunication Services - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       |                 |             |                                   | Integrated Telecommunication Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       | 360,000              |             | A-/A3                                  | AT&T, Inc., 2.95%, 5/15/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 381,388     |
|                                                                                                                                                       | 350,000              |             | BBB+/A3                                | France Telecom SA, 4.375%, 7/8/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 364,327     |
|                                                                                                                                                       | 225,000              |             | NR/A2                                  | GTP Acquisition Partners I LLC, 4.347%, 6/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 239,200     |
|                                                                                                                                                       | 340,000              |             | NR/A2                                  | GTP Towers Issuer LLC, 4.436%, 2/15/15 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 355,137     |
|                                                                                                                                                       | 300,000              |             | BBB/Baa3                               | Telecom Italia Capital SA, 5.25%, 11/15/13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 306,150     |
|                                                                                                                                                       | 500,000              |             | BBB/Baa3                               | Telecom Italia Capital SA, 7.175%, 6/18/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 592,071     |
|                                                                                                                                                       | 350,000              |             | BBB/Baa2                               | Telefonica Emisiones SAU, 5.462%, 2/16/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 385,768     |
|                                                                                                                                                       | 300,000              |             | BBB/Baa2                               | Telefonica Emisiones SAU, 6.221%, 7/3/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 342,265     |
|                                                                                                                                                       | 97,000               |             | A-/A3                                  | Verizon Communications, Inc., 8.75%, 11/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 131,041     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,097,347   |
|                                                                                                                                                       |                 |             |                                   | Wireless Telecommunication Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 240,000              |             | NR/A2                                  | Crown Castle Towers LLC, 4.883%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 276,992     |
|                                                                                                                                                       | 250,000              |             | NR/A2                                  | Crown Castle Towers LLC, 5.495%, 1/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 286,138     |
|                                                                                                                                                       | 140,000              |             | NR/A2                                  | Crown Castle Towers LLC, 6.113%, 1/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 172,035     |
|                                                                                                                                                       | 500,000              |             | A-/A3                                  | Vodafone Group Plc, 5.375%, 1/30/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 540,288     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,275,453   |
|                                                                                                                                                       |                 |             |                                   | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 4,372,800   |
|                                                                                                                                                       |                 |             |                                   | Utilities - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   | Electric Utilities - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       | 225,000              |             | A-/A3                                  | Commonwealth Edison Co., 6.15%, 9/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 272,154     |
|                                                                                                                                                       | 250,000              | 5.25             | BBB+/A3                                | Electricite de France SA, Floating Rate Note, 1/29/49 (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 251,468   |
|                                                                                                                                                       | 270,000              |             | BBB+/Baa2                              | Enel Finance International NV, 5.125%, 10/7/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 293,728     |
|                                                                                                                                                       | 111,069              |             | BB/Baa3                                | FPL Energy American Wind LLC, 6.639%, 6/20/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 107,228     |
|                                                                                                                                                       | 48,600               |             | B/Ba2                                  | FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 41,796      |
|                                                                                                                                                       | 200,000              |             | BB+/Baa3                               | Israel Electric Corp, Ltd., 6.7%, 2/10/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 224,000     |
|                                                                                                                                                       | 200,000              |             | BB+/Baa3                               | Israel Electric Corp, Ltd., 7.25%, 1/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 233,500     |
|                                                                                                                                                       | 125,000              |             | BBB+/Baa1                              | Nevada Power Co., 6.5%, 8/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 155,704     |
|                                                                                                                                                       | 95,105               |             | NR/WR                                  | Orcal Geothermal, Inc., 6.21%, 12/30/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 93,203      |
|                                                                                                                                                       | 275,000              |             | BBB/Baa3                               | Public Service Co. of New Mexico, 7.95%, 5/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 343,724     |
|                                                                                                                                                       | 250,000              |             | BBB+/A3                                | West Penn Power Co., 5.95%, 12/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 294,205     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,310,710   |
|                                                                                                                                                       |                 |             |                                   | Gas Utilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | 250,000              |             | A+/Aa3                                 | Southern California Gas Co., 5.125%, 11/15/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 313,604     |
|                                                                                                                                                       |                 |             |                                   | Multi-Utilities - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 615,000              |             | BBB+/Baa1                              | New York State Electric & Gas Corp., 6.15%, 12/15/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 692,884     |
|                                                                                                                                                       |                 |             |                                   | Independent Power Producers & Energy Traders - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       | 88,967               |             | BBB-/NR                                | Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 97,234      |
|                                                                                                                                                       | 223,000              |             | BB+/Ba1                                | NSG Holdings LLC, 7.75%, 12/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 239,725     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 336,959     |
|                                                                                                                                                       |                 |             |                                   | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 3,654,157   |
|                                                                                                                                                       |                 |             |                                   | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $56,572,197)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 64,887,440  |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 5.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       | 965,046              |             | AAA/Aaa                                | Fannie Mae, 4.0%, 2/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 1,033,269   |
|                                                                                                                                                       | 71,959               |             | AAA/Aaa                                | Fannie Mae, 4.5%, 11/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 77,337      |
|                                                                                                                                                       | 1,139,683            |             | AAA/Aaa                                | Fannie Mae, 4.5%, 4/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,231,292   |
|                                                                                                                                                       | 20,044               |             | AAA/Aaa                                | Fannie Mae, 5.0%, 12/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 21,569      |
|                                                                                                                                                       | 68,203               |             | AAA/Aaa                                | Fannie Mae, 5.0%, 5/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 72,984      |
|                                                                                                                                                       | 125,251              |             | AAA/Aaa                                | Fannie Mae, 5.0%, 6/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 135,619     |
|                                                                                                                                                       | 289,764              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 10/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 316,957     |
|                                                                                                                                                       | 41,207               |             | AAA/Aaa                                | Fannie Mae, 5.5%, 12/1/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 45,628      |
|                                                                                                                                                       | 170,358              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 12/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 186,346     |
|                                                                                                                                                       | 170,312              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 12/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 186,296     |
|                                                                                                                                                       | 14,120               |             | AAA/Aaa                                | Fannie Mae, 5.5%, 2/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 15,139      |
|                                                                                                                                                       | 170,404              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 3/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 185,664     |
|                                                                                                                                                       | 14,457               |             | AAA/Aaa                                | Fannie Mae, 5.5%, 3/1/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 15,904      |
|                                                                                                                                                       | 168,227              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 5/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 182,964     |
|                                                                                                                                                       | 671,778              |             | AAA/Aaa                                | Fannie Mae, 5.5%, 5/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 730,624     |
|                                                                                                                                                       | 9,041                |             | AAA/Aaa                                | Fannie Mae, 5.5%, 7/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 9,912       |
|                                                                                                                                                       | 18,898               |             | AAA/Aaa                                | Fannie Mae, 5.5%, 8/1/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 19,126      |
|                                                                                                                                                       | 8,020                |             | AAA/Aaa                                | Fannie Mae, 5.5%, 9/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 8,578       |
|                                                                                                                                                       | 8,337                |             | AAA/Aaa                                | Fannie Mae, 6.0%, 1/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 9,322       |
|                                                                                                                                                       | 107,404              |             | AAA/Aaa                                | Fannie Mae, 6.0%, 10/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 117,537     |
|                                                                                                                                                       | 76,429               |             | AAA/Aaa                                | Fannie Mae, 6.0%, 12/1/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 85,838      |
|                                                                                                                                                       | 68,474               |             | AAA/Aaa                                | Fannie Mae, 6.0%, 12/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 74,934      |
|                                                                                                                                                       | 10,325               |             | AAA/Aaa                                | Fannie Mae, 6.0%, 3/1/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 11,596      |
|                                                                                                                                                       | 8,537                |             | AAA/Aaa                                | Fannie Mae, 6.0%, 8/1/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 9,587       |
|                                                                                                                                                       | 2,763                |             | AAA/Aaa                                | Fannie Mae, 6.0%, 9/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 3,089       |
|                                                                                                                                                       | 754                  |             | AAA/Aaa                                | Fannie Mae, 6.5%, 1/1/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 775         |
|                                                                                                                                                       | 20,020               |             | AAA/Aaa                                | Fannie Mae, 6.5%, 10/1/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 23,207      |
|                                                                                                                                                       | 33,809               |             | AAA/Aaa                                | Fannie Mae, 6.5%, 12/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 37,559      |
|                                                                                                                                                       | 36,897               |             | AAA/Aaa                                | Fannie Mae, 6.5%, 4/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 42,673      |
|                                                                                                                                                       | 73,283               |             | AAA/Aaa                                | Fannie Mae, 6.5%, 5/1/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 83,964      |
|                                                                                                                                                       | 6,634                |             | AAA/Aaa                                | Fannie Mae, 6.5%, 7/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 6,932       |
|                                                                                                                                                       | 49,560               |             | AAA/Aaa                                | Fannie Mae, 6.5%, 9/1/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 56,033      |
|                                                                                                                                                       | 86,319               |             | AAA/Aaa                                | Fannie Mae, 7.0%, 1/1/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 102,610     |
|                                                                                                                                                       | 50,887               |             | AAA/Aaa                                | Fannie Mae, 7.0%, 10/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 56,791      |
|                                                                                                                                                       | 1,522                |             | AAA/Aaa                                | Fannie Mae, 8.0%, 10/1/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 1,884       |
|                                                                                                                                                       | 3,883                |             | AAA/Aaa                                | Fannie Mae, 8.0%, 2/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 4,519       |
|                                                                                                                                                       | 8,266                |             | AAA/Aaa                                | Fannie Mae, 8.0%, 3/1/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 9,882       |
|                                                                                                                                                       | 1,732                |             | AAA/Aaa                                | Fannie Mae, 8.0%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,951       |
|                                                                                                                                                       | 530                  |             | AAA/Aaa                                | Fannie Mae, 8.0%, 4/1/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 633         |
|                                                                                                                                                       | 440                  |             | AAA/Aaa                                | Fannie Mae, 8.0%, 5/1/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 513         |
|                                                                                                                                                       | 608                  |             | AAA/Aaa                                | Fannie Mae, 8.0%, 7/1/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 721         |
|                                                                                                                                                       | 583,622              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 4.0%, 1/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 623,404     |
|                                                                                                                                                       | 979,096              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 4.0%, 1/1/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 1,045,835   |
|                                                                                                                                                       | 674,749              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 4.5%, 5/1/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 729,447     |
|                                                                                                                                                       | 510,887              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 4.5%, 5/1/40                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 547,433     |
|                                                                                                                                                       | 483,315              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 4.5%, 5/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 518,870     |
|                                                                                                                                                       | 86,591               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 5.0%, 11/1/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 93,392      |
|                                                                                                                                                       | 208,799              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 5.0%, 8/1/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 224,153     |
|                                                                                                                                                       | 19,963               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 5.5%, 10/1/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 21,205      |
|                                                                                                                                                       | 74,366               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 5.5%, 11/1/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 80,857      |
|                                                                                                                                                       | 96,610               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 6.0%, 1/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 105,302     |
|                                                                                                                                                       | 140,146              |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 6.0%, 10/1/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 152,667     |
|                                                                                                                                                       | 76,996               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 6.0%, 4/1/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 85,728      |
|                                                                                                                                                       | 32,317               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 6.5%, 10/1/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 36,217      |
|                                                                                                                                                       | 76,302               |             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., 7.0%, 10/1/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 85,569      |
|                                                                                                                                                       | 118,868              | 2.64             | AAA/Aaa                                | Federal Home Loan Mortgage Corp., Floating Rate Note, 11/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 127,055     |
|                                                                                                                                                       | 151,102              |             | AAA/Aaa                                | Government National Mortgage Association I, 5.0%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 164,183     |
|                                                                                                                                                       | 146,796              |             | AAA/Aaa                                | Government National Mortgage Association I, 5.0%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 159,504     |
|                                                                                                                                                       | 443,148              |             | AAA/Aaa                                | Government National Mortgage Association I, 5.0%, 8/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 483,452     |
|                                                                                                                                                       | 29,944               |             | AAA/Aaa                                | Government National Mortgage Association I, 5.5%, 8/15/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 32,961      |
|                                                                                                                                                       | 34,056               |             | AAA/Aaa                                | Government National Mortgage Association I, 5.5%, 9/15/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 38,552      |
|                                                                                                                                                       | 43,159               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.0%, 10/15/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 49,289      |
|                                                                                                                                                       | 231                  |             | AAA/Aaa                                | Government National Mortgage Association I, 6.0%, 4/15/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 238         |
|                                                                                                                                                       | 55                   |             | AAA/Aaa                                | Government National Mortgage Association I, 6.0%, 8/15/13                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 55          |
|                                                                                                                                                       | 52,912               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.0%, 9/15/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 60,295      |
|                                                                                                                                                       | 349,316              |             | AAA/Aaa                                | Government National Mortgage Association I, 6.0%, 9/15/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 395,789     |
|                                                                                                                                                       | 36,924               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 43,157      |
|                                                                                                                                                       | 59,698               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.5%, 12/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 68,490      |
|                                                                                                                                                       | 82,979               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.5%, 5/15/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 94,228      |
|                                                                                                                                                       | 62,808               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.5%, 5/15/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 71,947      |
|                                                                                                                                                       | 59,151               |             | AAA/Aaa                                | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 70,348      |
|                                                                                                                                                       | 4,357                |             | AAA/Aaa                                | Government National Mortgage Association I, 7.0%, 4/15/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 5,215       |
|                                                                                                                                                       | 755                  |             | AAA/Aaa                                | Government National Mortgage Association I, 7.0%, 8/15/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 904         |
|                                                                                                                                                       | 5,950                |             | AAA/Aaa                                | Government National Mortgage Association I, 7.5%, 1/15/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 6,148       |
|                                                                                                                                                       | 3,578                |             | AAA/Aaa                                | Government National Mortgage Association I, 8.0%, 2/15/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 3,651       |
|                                                                                                                                                       | 91,739               |             | AAA/Aaa                                | Government National Mortgage Association II, 5.5%, 2/20/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 101,553     |
|                                                                                                                                                       | 174,302              |             | AAA/Aaa                                | Government National Mortgage Association II, 5.5%, 4/20/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 192,066     |
|                                                                                                                                                       | 119,422              |             | AAA/Aaa                                | Government National Mortgage Association II, 6.5%, 11/20/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 143,700     |
|                                                                                                                                                       | 4,234                |             | AAA/Aaa                                | Government National Mortgage Association II, 7.5%, 9/20/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 5,325       |
|                                                                                                                                                       | 500,000              |             | AA+/NR                                 | Tennessee Valley Authority, 6.25%, 12/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 621,514     |
|                                                                                                                                                       | 1,020,000            |             | AA+/Aaa                                | U.S. Treasury Bonds, 5.25%, 11/15/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 1,415,568   |
|                                                                                                                                                       | 525,000              |             | AA+/Aaa                                | U.S. Treasury Bonds, 5.375%, 2/15/31                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 750,258     |
|                                                                                                                                                       | 100,000              |             | AA+/Aaa                                | U.S. Treasury Notes, 2.625%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 110,250     |
|                                                                                                                                                       | 1,750,000            |             | AA+/Aaa                                | U.S. Treasury Notes, 3.125%, 5/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 1,983,516   |
|                                                                                                                                                       | 550,000              |             | AA+/Aaa                                | U.S. Treasury Notes, 3.375%, 11/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 634,262     |
|                                                                                                                                                       |                 |             |                                   | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $16,065,102)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 17,401,310  |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | FOREIGN GOVERNMENT BONDS - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
| EURO                                                                                                                                                       | 225,000              |             | NR/Aa1                                 | France Government Bond OAT, 4.0%, 4/25/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 307,394     |
| EURO                                                                                                                                                       | 75,000               |             | NR/Baa2                                | Italy Buoni Poliennali Del Tesoro, 4.75%, 8/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 106,017     |
|                                                                                                                                                       |                 |             |                                   | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $449,868)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 413,411     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | MUNICIPAL BONDS - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       |                 |             |                                   | Municipal Airport - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 250,000              |             | BBB/Baa1                               | Indianapolis Airport Authority, 5.1%, 1/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 283,152     |
|                                                                                                                                                       | 400,000              |             | NR/A2                                  | Massachusetts Port Authority, 5.0%, 7/1/16                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 439,644     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 722,796     |
|                                                                                                                                                       |                 |             |                                   | Municipal General - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 100,000              |             | BBB-/Baa2                              | Central Texas Regional Mobility Authority, 0.0%, 1/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 61,007      |
|                                                                                                                                                       | 200,000              |             | AA/A2                                  | JobsOhio Beverage System, 3.985%, 1/1/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 208,710     |
|                                                                                                                                                       | 270,000              |             | AA/Aa2                                 | State of Ohio, 3.0%, 6/15/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 282,452     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 552,169     |
|                                                                                                                                                       |                 |             |                                   | Higher Municipal Education - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                       | 600,000              |             | AAA/Aaa                                | Massachusetts Health & Educational Facilities Authority, 5.5%, 11/15/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 715,980     |
|                                                                                                                                                       | 100,000              |             | AAA/Aaa                                | Missouri State Health & Educational Facilities Authority, 5.0%, 11/15/39                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 118,376   |
|                                                                                                                                                       | 550,000              |             | AAA/Aaa                                | New York State Dormitory Authority, 5.0%, 10/1/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 641,773     |
|                                                                                                                                                       | 200,000              |             | AA/Aa1                                 | University of California, 4.062%, 5/15/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 200,686     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,676,815   |
|                                                                                                                                                       |                 |             |                                   | Municipal Medical - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       | 100,000              |             | AAA/Aaa                                | Missouri State Health & Educational Facilities Authority, 3.685%, 2/15/47                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 99,792      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Municipal Power - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       | 250,000              |             | AA-/Aa1                                | Energy Northwest, 5.0%, 7/1/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 288,728     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Municipal Utilities - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       | 150,000              |             | AAA/Aaa                                | Washington Suburban Sanitary Commission, 4.0%, 6/1/30                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 169,090     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Municipal Obligation - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 420,000              |             | A/A1                                   | State of California, 6.2%, 3/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 514,458     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $3,710,995)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,023,848   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | SENIOR FLOATING RATE LOAN INTERESTS - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       |                 |             |                                   | Transportation - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                       |                 |             |                                   | Trucking - 0.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 115,579              | 4.00             | BB/Ba2                                 | Swift Transportation Co. LLC, Tranche B-2 Term Loan (2013), 12/21/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 117,674     |
|                                                                                                                                                       |                 |             |                                   | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 117,674     |
|                                                                                                                                                       |                 |             |                                   | Automobiles & Components - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                       |                 |             |                                   | Automobile Manufacturers - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 491,250              | 6.00             | BB/Ba1                                 | Chrysler Group LLC, Tranche B Term Loan, 4/28/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 499,571     |
|                                                                                                                                                       |                 |             |                                   | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 499,571     |
|                                                                                                                                                       |                 |             |                                   | Consumer Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                       |                 |             |                                   | Casinos & Gaming - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 195,010              | 3.75             | BBB-/Ba1                               | Penn National Gaming, Inc., Term B Facility Loan, 6/29/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 197,387     |
|                                                                                                                                                       | 244,490              | 3.20             | BBB-/Ba1                               | Scientific Games Corp., Tranche B-1 Term Loan, 6/30/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 245,956     |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 443,343     |
|                                                                                                                                                       |                 |             |                                   | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 443,343     |
|                                                                                                                                                       |                 |             |                                   | Diversified Financials - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                       |                 |             |                                   | Other Diversified Financial Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                       | 294,000              | 5.00             | NR/Baa1                                | Kasima LLC, Incremental Term Loan, 3/25/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 295,102     |
|                                                                                                                                                       |                 |             |                                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 295,102     |
|                                                                                                                                                       |                 |             |                                   | Technology Hardware & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                       |                 |             |                                   | Communications Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                       | 488,766              | 3.75             | BB/Ba3                                 | CommScope, Inc., Tranche 2 Term Loan, 1/14/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 495,792     |
|                                                                                                                                                       |                 |             |                                   | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 495,792     |
|                                                                                                                                                       |                 |             |                                   | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $1,824,581)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,851,482   |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | TOTAL INVESTMENT IN SECURITIES - 98.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                       |                 |             |                                   | (Cost $245,179,736) (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 297,845,920 |
|                                                                                                                                                       |                 |             |                                   | OTHER ASSETS & LIABILITIES - 1.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 3,674,559   |
|                                                                                                                                                       |                 |             |                                   | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 301,520,479 |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | *                    |             |                                   | Non-income producing security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | +                    |             |                                   | Amount rounds to less than 0.1%.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | NR                   |             |                                   | Not rated by either S&P or Moody's.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | WR                   |             |                                   | Rating withdrawn by either S&P or Moody's.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | (Step)               |             |                                   | Bond issued with an initial coupon rate which converts to a higher rate at a later date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | (Perpetual)          |             | Security with no stated maturity date. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | REIT                 |             |                                   | Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | (A.D.R.)             |             | American Depositary Receipt.           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | **                   |             |                                   | 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 U.S. banks, (iii) the 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 April 30, 2013, the value of these securities amounted to $20,946,008 or 6.9% of total net assets.                                                                                                                                                                                                                                            |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | (a)                  |             |                                   | At April 30, 2013, the net unrealized gain on investments based on                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                       |                 |             |                                   | cost for federal income tax purposes of $245,380,773 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Aggregate gross unrealized gain for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 55,319,909  |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Aggregate gross unrealized loss for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                       |                 |             |                                   | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | (2,854,762) |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Net unrealized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 52,465,147  |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | (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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   | Principal amounts are denominated in U.S. Dollars unless otherwise noted:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       | EURO                 |             |                                   | Euro                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
| 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.                                                                                                               |                 |             |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
| Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued                         |
| using fair value methods (other than prices supplied by independent pricing services) are categorized as Level 3.                                          |
| See Notes to Financial Statements - Note 1A.                                                                                                               |                 |             |
|                                                                                                                                                       |                 |             |                                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
| The following is a summary of the inputs used as of April 30, 2013, in valuing the Fund's assets:                                                          |                 |             |

|                                   |   | Level 1 |        |   | Level 2 |   |        | Level 3 |   |   | Total |   |
|----------------------------------------|--------|---------|-------------|--------|---------|--------|-------------|---------|--------|--------|-------|--------|
| Preferred stocks                       |   | $       | 1,210,813   |   |    | $      | 107,500     |    |   | $      | -     |   |   | $ | 1,318,313 |   |
| Convertible preferred stock            |   |    | 923,825     |   |    |   | -           |    |   |   | -     |   |   |   | 923,825 |   |
| Common stocks                          |   |    | 192,120,952 |   |    |   | -           |    |   |   | -     |   |   |   | 192,120,952 |   |
| Asset backed securities                |   |    | -           |   |    |   | 3,528,748   |    |   |   | -     |   |   |   | 3,528,748 |   |
| Collateralized mortgage obligations    |   |    | -           |   |    |   | 11,376,591  |    |   |   | -     |   |   |   | 11,376,591 |   |
| Corporate bonds                        |   |    | -           |   |    |   | 64,887,440  |    |   |   | -     |   |   |   | 64,887,440 |   |
| U.S. government and agency obligations |   |    | -           |   |    |   | 17,401,310  |    |   |   | -     |   |   |   | 17,401,310 |   |
| Foreign government bond                |   |    | -           |   |    |   | 413,411     |    |   |   | -     |   |   |   | 413,411 |   |
| Municipal bonds                        |   |    | -           |   |    |   | 4,023,848   |    |   |   | -     |   |   |   | 4,023,848 |   |
| Senior Floating Rate Loan Interests    |   |    | -           |   |    |   | 1,851,482   |    |   |   | -     |   |   |   | 1,851,482 |   |
| Total                                  |   | $       | 194,255,590 |   |    | $      | 103,590,330 |    |   | $      | -     |   |   | $ | 297,845,920 |   |

|                                                                                                                                                                                                    |                 |             |                   | Pioneer Government Income Fund                                                                                                                                                                                                                                                                                                     |      |        |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|------------------|------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------|--------|
|                                                                                                                                                                                                    |                 |             |                   | Schedule of Investments 4/30/13 (unaudited)                                                                                                                                                                                                                                                                                        |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    | Principal Amount ($) | FloatingRate (d) | S&P/Moody'sRatings |                                                                                                                                                                                                                                                                                                                               | Value     |        |
|                                                                                                                                                                                                    |                 |             |                   | ASSET BACKED SECURITIES - 5.6%                                                                                                                                                                                                                                                                                                     |      |        |   |
|                                                                                                                                                                                                    | 2,000,000            | 1.03             | AAA/Aaa                | SLM Student Loan Trust 2004-10, Floating Rate Note, 4/27/26 (144A)                                                                                                                                                                                                                                                                 | $         | 2,000,000   |   |
|                                                                                                                                                                                                    | 378,959              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 4.2%, 9/1/29                                                                                                                                                                                                                                                             |      | 422,297     |   |
|                                                                                                                                                                                                    | 892,389              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 4.625%, 2/1/25                                                                                                                                                                                                                                                           | 994,088   |        |
|                                                                                                                                                                                                    | 1,113,868            |             | AA+/Aaa                | Small Business Administration Participation Certificates, 4.84%, 5/1/25                                                                                                                                                                                                                                                            |      | 1,239,388   |   |
|                                                                                                                                                                                                    | 917,180              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 5.37%, 4/1/28                                                                                                                                                                                                                                                            |      | 1,061,771   |   |
|                                                                                                                                                                                                    | 610,113              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 5.63%, 10/1/28                                                                                                                                                                                                                                                           | 706,217   |        |
|                                                                                                                                                                                                    | 207,885              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 5.72%, 1/1/29                                                                                                                                                                                                                                                            |      | 242,186     |   |
|                                                                                                                                                                                                    | 339,793              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 6.14%, 1/1/22                                                                                                                                                                                                                                                            |      | 376,636     |   |
|                                                                                                                                                                                                    | 1,106,343            |             | AA+/Aaa                | Small Business Administration Participation Certificates, 6.02%, 8/1/28                                                                                                                                                                                                                                                            |      | 1,288,698   |   |
|                                                                                                                                                                                                    | 639,794              |             | AA+/Aaa                | Small Business Administration Participation Certificates, 6.22%, 12/1/28                                                                                                                                                                                                                                                           | 747,142   |        |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                      |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $8,276,379)                                                                                                                                                                                                                                                                                                                  | $         | 9,078,423   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | COLLATERALIZED MORTGAGE OBLIGATIONS - 19.0%                                                                                                                                                                                                                                                                                        |      |        |   |
|                                                                                                                                                                                                    | 1,310,068            | 3.38             | NR/NR                  | Fannie Mae Grantor Trust 2004-T2, Floating Rate Note, 7/25/43                                                                                                                                                                                                                                                                      | $         | 1,403,668   |   |
|                                                                                                                                                                                                    | 150,000              |             | NR/NR                  | Fannie Mae REMICS, 4.5%, 6/25/29                                                                                                                                                                                                                                                                                                   |      | 166,866     |   |
|                                                                                                                                                                                                    | 2,631                |             | NR/NR                  | Fannie Mae REMICS, 5.69%, 1/25/32                                                                                                                                                                                                                                                                                                  |      | 2,632       |   |
|                                                                                                                                                                                                    | 695,947              | 0.50             | NR/NR                  | Fannie Mae REMICS, Floating Rate Note, 12/25/42                                                                                                                                                                                                                                                                                    |      | 696,219     |   |
|                                                                                                                                                                                                    | 4,723,171            |             | NR/NR                  | Fannie Mae-Aces, 4.92%, 7/25/20                                                                                                                                                                                                                                                                                                    |      | 4,745,190   |   |
|                                                                                                                                                                                                    | 4,172,956            | 6.30             | NR/NR                  | Fannie Mae-Aces, Floating Rate Note, 4/25/19                                                                                                                                                                                                                                                                                       |      | 4,458,261   |   |
|                                                                                                                                                                                                    | 182,505              |             | NR/NR                  | Freddie Mac REMICS, 5.0%, 6/15/34                                                                                                                                                                                                                                                                                                  |      | 188,185     |   |
|                                                                                                                                                                                                    | 36,982               |             | NR/NR                  | Freddie Mac REMICS, 5.5%, 2/15/33                                                                                                                                                                                                                                                                                                  |      | 36,979      |   |
|                                                                                                                                                                                                    | 277,907              | 0.60             | NR/NR                  | Freddie Mac REMICS, Floating Rate Note, 12/15/20                                                                                                                                                                                                                                                                                   |      | 279,714     |   |
|                                                                                                                                                                                                    | 2,997,208            |             | AAA/Aaa                | Government National Mortgage Association, 3.025%, 2/16/30                                                                                                                                                                                                                                                                          |      | 3,046,029   |   |
|                                                                                                                                                                                                    | 88,769               |             | AAA/Aaa                | Government National Mortgage Association, 4.175%, 1/16/38                                                                                                                                                                                                                                                                          |      | 90,679      |   |
|                                                                                                                                                                                                    | 112,068              |             | AAA/Aaa                | Government National Mortgage Association, 5.25%, 8/16/35                                                                                                                                                                                                                                                                           |      | 132,555     |   |
|                                                                                                                                                                                                    | 651,227              |             | AAA/Aaa                | Government National Mortgage Association, 6.0%, 6/16/32                                                                                                                                                                                                                                                                            |      | 732,242     |   |
|                                                                                                                                                                                                    | 2,000,000            | 4.82             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 1/16/50                                                                                                                                                                                                                                                              | 2,227,610 |        |
|                                                                                                                                                                                                    | 9,710,495            | 0.56             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 11/16/51                                                                                                                                                                                                                                                             | 372,262   |        |
|                                                                                                                                                                                                    | 7,601,214            | 1.82             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 11/16/52                                                                                                                                                                                                                                                             | 615,349   |        |
|                                                                                                                                                                                                    | 282,455              | 0.65             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 12/16/29                                                                                                                                                                                                                                                             | 285,152   |        |
|                                                                                                                                                                                                    | 3,000,000            | 5.14             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 12/16/36                                                                                                                                                                                                                                                             | 3,240,174 |        |
|                                                                                                                                                                                                    | 883,953              | 5.12             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 12/16/46                                                                                                                                                                                                                                                             | 926,396   |        |
|                                                                                                                                                                                                    | 10,360,406           | 1.10             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 2/16/52                                                                                                                                                                                                                                                              | 486,566   |        |
|                                                                                                                                                                                                    | 1,775,246            | 1.03             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 2/16/53                                                                                                                                                                                                                                                              | 155,011   |        |
|                                                                                                                                                                                                    | 1,478,755            | 1.05             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 3/16/53                                                                                                                                                                                                                                                              | 125,394   |        |
|                                                                                                                                                                                                    | 8,795,909            | 1.30             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 4/16/51                                                                                                                                                                                                                                                              | 439,197   |        |
|                                                                                                                                                                                                    | 8,623,660            | 1.27             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 4/16/51                                                                                                                                                                                                                                                              | 486,538   |        |
|                                                                                                                                                                                                    | 399,557              | 5.78             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 6/16/32                                                                                                                                                                                                                                                              | 419,780   |        |
|                                                                                                                                                                                                    | 8,113,728            | 1.47             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 6/16/52                                                                                                                                                                                                                                                              | 577,503   |        |
|                                                                                                                                                                                                    | 1,970,151            | 1.07             | AAA/Aaa                | Government National Mortgage Association, Floating Rate Note, 9/16/52                                                                                                                                                                                                                                                              | 181,136   |        |
|                                                                                                                                                                                                    | 1,639,067            | 3.00             | AAA/Aaa                | La Hipotecaria Panamanian Mortgage Trust 2010-1, Floating Rate Note, 9/8/39 (144A)                                                                                                                                                                                                                                                 | 1,711,801 |        |
|                                                                                                                                                                                                    | 801,150              |             | NR/NR                  | Vendee Mortgage Trust 2008-1, 5.25%, 1/15/32                                                                                                                                                                                                                                                                                       |      | 928,977     |   |
|                                                                                                                                                                                                    | 1,684,950            |             | NR/NR                  | Vendee Mortgage Trust 2010-1, 4.25%, 2/15/35                                                                                                                                                                                                                                                                                       |      | 1,875,049   |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                          |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $33,060,315)                                                                                                                                                                                                                                                                                                                 | $         | 31,033,114  |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | CORPORATE BONDS - 10.6%                                                                                                                                                                                                                                                                                                            |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Diversified Financials - 10.2%                                                                                                                                                                                                                                                                                                     |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Specialized Finance - 10.2%                                                                                                                                                                                                                                                                                                        |      |        |   |
|                                                                                                                                                                                                    | 600,000              |             | AA+/Aaa                | Private Export Funding Corp., 2.25%, 12/15/17                                                                                                                                                                                                                                                                                      | $         | 640,337     |   |
|                                                                                                                                                                                                    | 1,300,000            |             | AA+/Aaa                | Private Export Funding Corp., 2.8%, 5/15/22                                                                                                                                                                                                                                                                                        |      | 1,406,943   |   |
|                                                                                                                                                                                                    | 4,420,000            |             | AA+/Aaa                | Private Export Funding Corp., 4.3%, 12/15/21                                                                                                                                                                                                                                                                                       |      | 5,286,956   |   |
|                                                                                                                                                                                                    | 5,750,000            |             | AA+/Aaa                | Private Export Funding Corp., 4.375%, 3/15/19                                                                                                                                                                                                                                                                                      |      | 6,809,127   |   |
|                                                                                                                                                                                                    | 2,155,000            |             | AA+/Aaa                | Private Export Funding Corp., 5.45%, 9/15/17                                                                                                                                                                                                                                                                                       |      | 2,582,177   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               | $         | 16,725,540  |   |
|                                                                                                                                                                                                    |                 |             |                   | Total Diversified Financials                                                                                                                                                                                                                                                                                                       | $         | 16,725,540  |   |
|                                                                                                                                                                                                    |                 |             |                   | Government - 0.4%                                                                                                                                                                                                                                                                                                                  |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Government - 0.4%                                                                                                                                                                                                                                                                                                                  |      |        |   |
|                                                                                                                                                                                                    | 613,774              |             | AA+/Aaa                | Helios Leasing I LLC, 2.018%, 5/29/24                                                                                                                                                                                                                                                                                              | $         | 631,652     |   |
|                                                                                                                                                                                                    |                 |             |                   | Total Government                                                                                                                                                                                                                                                                                                                   | $         | 631,652     |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                              |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $15,664,028)                                                                                                                                                                                                                                                                                                                 | $         | 17,357,192  |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 54.3%                                                                                                                                                                                                                                                                                     |      |        |   |
|                                                                                                                                                                                                    | 7,700,000            |             | AAA/Aaa                | Fannie Mae Pool, 4.0%, 7/25/43                                                                                                                                                                                                                                                                                                     | $         | 8,241,406   |   |
|                                                                                                                                                                                                    | 1,375,346            |             | AAA/Aaa                | Fannie Mae, 3.763%, 12/1/20                                                                                                                                                                                                                                                                                                        |      | 1,556,075   |   |
|                                                                                                                                                                                                    | 3,312,062            |             | AAA/Aaa                | Fannie Mae, 4.0%, 10/1/41                                                                                                                                                                                                                                                                                                          |      | 3,547,756   |   |
|                                                                                                                                                                                                    | 164,977              |             | AAA/Aaa                | Fannie Mae, 4.0%, 9/1/20                                                                                                                                                                                                                                                                                                           |      | 176,890     |   |
|                                                                                                                                                                                                    | 51,712               |             | AAA/Aaa                | Fannie Mae, 4.5%, 11/1/20                                                                                                                                                                                                                                                                                                          |      | 55,578      |   |
|                                                                                                                                                                                                    | 1,953,875            |             | AAA/Aaa                | Fannie Mae, 4.64%, 11/1/14                                                                                                                                                                                                                                                                                                         |      | 2,033,770   |   |
|                                                                                                                                                                                                    | 1,101,762            |             | AAA/Aaa                | Fannie Mae, 4.989%, 6/1/15                                                                                                                                                                                                                                                                                                         |      | 1,175,325   |   |
|                                                                                                                                                                                                    | 179,001              |             | AAA/Aaa                | Fannie Mae, 5.0%, 1/1/20                                                                                                                                                                                                                                                                                                           |      | 193,854     |   |
|                                                                                                                                                                                                    | 347,505              |             | AAA/Aaa                | Fannie Mae, 5.0%, 10/1/34                                                                                                                                                                                                                                                                                                          |      | 378,228     |   |
|                                                                                                                                                                                                    | 249,211              |             | AAA/Aaa                | Fannie Mae, 5.0%, 3/1/23                                                                                                                                                                                                                                                                                                           |      | 267,593     |   |
|                                                                                                                                                                                                    | 2,854,925            |             | AAA/Aaa                | Fannie Mae, 5.0%, 4/1/38                                                                                                                                                                                                                                                                                                           |      | 3,091,265   |   |
|                                                                                                                                                                                                    | 473,051              |             | AAA/Aaa                | Fannie Mae, 5.0%, 7/1/34                                                                                                                                                                                                                                                                                                           |      | 514,872     |   |
|                                                                                                                                                                                                    | 239,064              |             | AAA/Aaa                | Fannie Mae, 5.0%, 8/1/18                                                                                                                                                                                                                                                                                                           |      | 255,965     |   |
|                                                                                                                                                                                                    | 316,617              |             | AAA/Aaa                | Fannie Mae, 5.5%, 2/1/25                                                                                                                                                                                                                                                                                                           |      | 347,518     |   |
|                                                                                                                                                                                                    | 72,716               |             | AAA/Aaa                | Fannie Mae, 5.72%, 11/1/28                                                                                                                                                                                                                                                                                                         |      | 81,039      |   |
|                                                                                                                                                                                                    | 72,014               |             | AAA/Aaa                | Fannie Mae, 5.72%, 6/1/29                                                                                                                                                                                                                                                                                                          |      | 80,268      |   |
|                                                                                                                                                                                                    | 67,001               |             | AAA/Aaa                | Fannie Mae, 5.75%, 3/1/33                                                                                                                                                                                                                                                                                                          |      | 74,975      |   |
|                                                                                                                                                                                                    | 37,279               |             | AAA/Aaa                | Fannie Mae, 5.9%, 11/1/27                                                                                                                                                                                                                                                                                                          |      | 41,552      |   |
|                                                                                                                                                                                                    | 45,482               |             | AAA/Aaa                | Fannie Mae, 5.9%, 2/1/28                                                                                                                                                                                                                                                                                                           |      | 50,695      |   |
|                                                                                                                                                                                                    | 99,674               |             | AAA/Aaa                | Fannie Mae, 5.9%, 4/1/28                                                                                                                                                                                                                                                                                                           |      | 111,099     |   |
|                                                                                                                                                                                                    | 504,204              |             | AAA/Aaa                | Fannie Mae, 6.0%, 11/1/34                                                                                                                                                                                                                                                                                                          |      | 561,070     |   |
|                                                                                                                                                                                                    | 105,433              |             | AAA/Aaa                | Fannie Mae, 6.0%, 11/1/34                                                                                                                                                                                                                                                                                                          |      | 117,324     |   |
|                                                                                                                                                                                                    | 150,943              |             | AAA/Aaa                | Fannie Mae, 6.0%, 12/1/37                                                                                                                                                                                                                                                                                                          |      | 165,184     |   |
|                                                                                                                                                                                                    | 280,814              |             | AAA/Aaa                | Fannie Mae, 6.5%, 11/1/47                                                                                                                                                                                                                                                                                                          |      | 308,273     |   |
|                                                                                                                                                                                                    | 201,472              |             | AAA/Aaa                | Fannie Mae, 6.5%, 7/1/32                                                                                                                                                                                                                                                                                                           |      | 228,099     |   |
|                                                                                                                                                                                                    | 162,838              |             | AAA/Aaa                | Fannie Mae, 7.0%, 10/1/19                                                                                                                                                                                                                                                                                                          |      | 181,730     |   |
|                                                                                                                                                                                                    | 18,179               |             | AAA/Aaa                | Fannie Mae, 7.5%, 4/1/15                                                                                                                                                                                                                                                                                                           |      | 18,894      |   |
|                                                                                                                                                                                                    | 12,446               |             | AAA/Aaa                | Fannie Mae, 7.5%, 6/1/15                                                                                                                                                                                                                                                                                                           |      | 12,971      |   |
|                                                                                                                                                                                                    | 18,042               |             | AAA/Aaa                | Fannie Mae, 8.0%, 7/1/15                                                                                                                                                                                                                                                                                                           |      | 18,874      |   |
|                                                                                                                                                                                                    | 19,108               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 4.0%, 11/1/13                                                                                                                                                                                                                                                                                    |      | 19,184      |   |
|                                                                                                                                                                                                    | 278,645              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 5.0%, 10/1/38                                                                                                                                                                                                                                                                                    |      | 299,135     |   |
|                                                                                                                                                                                                    | 258,183              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 5.0%, 9/1/38                                                                                                                                                                                                                                                                                     |      | 277,168     |   |
|                                                                                                                                                                                                    | 45,533               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 5.5%, 1/1/34                                                                                                                                                                                                                                                                                     |      | 49,565      |   |
|                                                                                                                                                                                                    | 166,467              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 1/1/33                                                                                                                                                                                                                                                                                     |      | 185,345     |   |
|                                                                                                                                                                                                    | 342,039              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 1/1/38                                                                                                                                                                                                                                                                                     |      | 372,813     |   |
|                                                                                                                                                                                                    | 126,983              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 11/1/33                                                                                                                                                                                                                                                                                    |      | 141,384     |   |
|                                                                                                                                                                                                    | 26,077               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 5/1/16                                                                                                                                                                                                                                                                                     |      | 27,447      |   |
|                                                                                                                                                                                                    | 24,469               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 6/1/16                                                                                                                                                                                                                                                                                     |      | 25,729      |   |
|                                                                                                                                                                                                    | 143,559              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 7/1/36                                                                                                                                                                                                                                                                                     |      | 159,279     |   |
|                                                                                                                                                                                                    | 52,582               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 7/1/36                                                                                                                                                                                                                                                                                     |      | 57,379      |   |
|                                                                                                                                                                                                    | 509,668              |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 7/1/38                                                                                                                                                                                                                                                                                     |      | 557,434     |   |
|                                                                                                                                                                                                    | 43,111               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.0%, 8/1/18                                                                                                                                                                                                                                                                                     |      | 46,922      |   |
|                                                                                                                                                                                                    | 20,559               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 6.5%, 5/1/31                                                                                                                                                                                                                                                                                     |      | 23,111      |   |
|                                                                                                                                                                                                    | 76,695               |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 7.0%, 10/1/46                                                                                                                                                                                                                                                                                    |      | 86,009      |   |
|                                                                                                                                                                                                    | 6,439                |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 7.0%, 3/1/14                                                                                                                                                                                                                                                                                     |      | 6,522       |   |
|                                                                                                                                                                                                    | 5,360                |             | AAA/Aaa                | Federal Home Loan Mortgage Corp., 7.0%, 6/1/31                                                                                                                                                                                                                                                                                     |      | 6,322       |   |
|                                                                                                                                                                                                    | 1,000,000            |             | NR/NR                  | Financing Corp. Fico, 0.0%, 4/6/18                                                                                                                                                                                                                                                                                                 |      | 960,527     |   |
|                                                                                                                                                                                                    | 2,000,000            |             | NR/NR                  | Financing Corp. Fico, 0.0%, 5/11/18                                                                                                                                                                                                                                                                                                |      | 1,917,930   |   |
|                                                                                                                                                                                                    | 40,839               |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 12/15/19                                                                                                                                                                                                                                                                         |      | 44,497      |   |
|                                                                                                                                                                                                    | 77,813               |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 4/15/18                                                                                                                                                                                                                                                                          |      | 82,782      |   |
|                                                                                                                                                                                                    | 133,925              |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 4/15/20                                                                                                                                                                                                                                                                          |      | 145,892     |   |
|                                                                                                                                                                                                    | 134,989              |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 6/15/19                                                                                                                                                                                                                                                                          |      | 147,146     |   |
|                                                                                                                                                                                                    | 469,432              |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 6/15/25                                                                                                                                                                                                                                                                          |      | 509,656     |   |
|                                                                                                                                                                                                    | 53,239               |             | AAA/Aaa                | Government National Mortgage Association I, 4.5%, 8/15/19                                                                                                                                                                                                                                                                          |      | 58,046      |   |
|                                                                                                                                                                                                    | 169,407              |             | AAA/Aaa                | Government National Mortgage Association I, 5.0%, 2/15/19                                                                                                                                                                                                                                                                          |      | 184,179     |   |
|                                                                                                                                                                                                    | 553,959              |             | AAA/Aaa                | Government National Mortgage Association I, 5.0%, 7/15/40                                                                                                                                                                                                                                                                          |      | 610,811     |   |
|                                                                                                                                                                                                    | 171,323              |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 1/15/29                                                                                                                                                                                                                                                                          |      | 187,425     |   |
|                                                                                                                                                                                                    | 159,996              |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 10/15/19                                                                                                                                                                                                                                                                         |      | 171,824     |   |
|                                                                                                                                                                                                    | 146,429              |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 10/15/33                                                                                                                                                                                                                                                                         |      | 161,182     |   |
|                                                                                                                                                                                                    | 93,510               |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 10/15/34                                                                                                                                                                                                                                                                         |      | 102,786     |   |
|                                                                                                                                                                                                    | 69,841               |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 4/15/19                                                                                                                                                                                                                                                                          |      | 75,419      |   |
|                                                                                                                                                                                                    | 43,483               |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 4/15/31                                                                                                                                                                                                                                                                          |      | 47,610      |   |
|                                                                                                                                                                                                    | 42,153               |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 6/15/18                                                                                                                                                                                                                                                                          |      | 45,206      |   |
|                                                                                                                                                                                                    | 238,614              |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 8/15/33                                                                                                                                                                                                                                                                          |      | 262,655     |   |
|                                                                                                                                                                                                    | 97,912               |             | AAA/Aaa                | Government National Mortgage Association I, 5.5%, 9/15/33                                                                                                                                                                                                                                                                          |      | 110,837     |   |
|                                                                                                                                                                                                    | 26,631               |             | AAA/Aaa                | Government National Mortgage Association I, 5.72%, 4/15/29                                                                                                                                                                                                                                                                         |      | 29,239      |   |
|                                                                                                                                                                                                    | 26,984               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 1/15/24                                                                                                                                                                                                                                                                          |      | 30,581      |   |
|                                                                                                                                                                                                    | 86,963               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 1/15/33                                                                                                                                                                                                                                                                          |      | 99,098      |   |
|                                                                                                                                                                                                    | 111,336              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 1/15/33                                                                                                                                                                                                                                                                          |      | 127,269     |   |
|                                                                                                                                                                                                    | 10,987               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/28                                                                                                                                                                                                                                                                         |      | 12,473      |   |
|                                                                                                                                                                                                    | 25,625               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 29,329      |   |
|                                                                                                                                                                                                    | 80,414               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 91,836      |   |
|                                                                                                                                                                                                    | 137,038              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 156,503     |   |
|                                                                                                                                                                                                    | 93,636               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 106,322     |   |
|                                                                                                                                                                                                    | 120,918              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 137,791     |   |
|                                                                                                                                                                                                    | 255,434              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 291,077     |   |
|                                                                                                                                                                                                    | 1,126                |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 11/15/28                                                                                                                                                                                                                                                                         |      | 1,124       |   |
|                                                                                                                                                                                                    | 25,311               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 11/15/32                                                                                                                                                                                                                                                                         |      | 29,001      |   |
|                                                                                                                                                                                                    | 15,094               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 11/15/32                                                                                                                                                                                                                                                                         |      | 17,267      |   |
|                                                                                                                                                                                                    | 199,754              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 11/15/33                                                                                                                                                                                                                                                                         |      | 228,502     |   |
|                                                                                                                                                                                                    | 164,035              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 11/15/37                                                                                                                                                                                                                                                                         |      | 185,490     |   |
|                                                                                                                                                                                                    | 338,573              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/23                                                                                                                                                                                                                                                                         |      | 384,760     |   |
|                                                                                                                                                                                                    | 349,624              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 401,306     |   |
|                                                                                                                                                                                                    | 476,981              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 547,490     |   |
|                                                                                                                                                                                                    | 173,776              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 199,464     |   |
|                                                                                                                                                                                                    | 33,063               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 37,822      |   |
|                                                                                                                                                                                                    | 142,672              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 163,762     |   |
|                                                                                                                                                                                                    | 298,788              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 342,956     |   |
|                                                                                                                                                                                                    | 31,701               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 36,283      |   |
|                                                                                                                                                                                                    | 142,729              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 2/15/29                                                                                                                                                                                                                                                                          |      | 162,423     |   |
|                                                                                                                                                                                                    | 186,001              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 212,770     |   |
|                                                                                                                                                                                                    | 80,740               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 92,663      |   |
|                                                                                                                                                                                                    | 260,209              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 296,519     |   |
|                                                                                                                                                                                                    | 144,931              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 165,517     |   |
|                                                                                                                                                                                                    | 82,666               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/19                                                                                                                                                                                                                                                                          |      | 91,722      |   |
|                                                                                                                                                                                                    | 72,233               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/19                                                                                                                                                                                                                                                                          |      | 80,145      |   |
|                                                                                                                                                                                                    | 120,119              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 136,880     |   |
|                                                                                                                                                                                                    | 49,710               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 56,646      |   |
|                                                                                                                                                                                                    | 62,349               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 71,322      |   |
|                                                                                                                                                                                                    | 362,374              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 3/15/34                                                                                                                                                                                                                                                                          |      | 415,942     |   |
|                                                                                                                                                                                                    | 99,075               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 4/15/28                                                                                                                                                                                                                                                                          |      | 112,274     |   |
|                                                                                                                                                                                                    | 41,643               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 4/15/33                                                                                                                                                                                                                                                                          |      | 47,663      |   |
|                                                                                                                                                                                                    | 63,349               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 5/15/33                                                                                                                                                                                                                                                                          |      | 72,466      |   |
|                                                                                                                                                                                                    | 161,495              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 6/15/31                                                                                                                                                                                                                                                                          |      | 183,728     |   |
|                                                                                                                                                                                                    | 128,562              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 6/15/34                                                                                                                                                                                                                                                                          |      | 145,980     |   |
|                                                                                                                                                                                                    | 82,414               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 8/15/34                                                                                                                                                                                                                                                                          |      | 97,449      |   |
|                                                                                                                                                                                                    | 346,778              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 8/15/34                                                                                                                                                                                                                                                                          |      | 397,335     |   |
|                                                                                                                                                                                                    | 385,303              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 8/15/38                                                                                                                                                                                                                                                                          |      | 435,697     |   |
|                                                                                                                                                                                                    | 396,677              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 9/15/32                                                                                                                                                                                                                                                                          |      | 455,315     |   |
|                                                                                                                                                                                                    | 149,811              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 9/15/32                                                                                                                                                                                                                                                                          |      | 171,090     |   |
|                                                                                                                                                                                                    | 52,317               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 9/15/33                                                                                                                                                                                                                                                                          |      | 59,503      |   |
|                                                                                                                                                                                                    | 58,787               |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 9/15/34                                                                                                                                                                                                                                                                          |      | 66,752      |   |
|                                                                                                                                                                                                    | 225,724              |             | AAA/Aaa                | Government National Mortgage Association I, 6.0%, 9/15/35                                                                                                                                                                                                                                                                          |      | 257,024     |   |
|                                                                                                                                                                                                    | 28,824               |             | AAA/Aaa                | Government National Mortgage Association I, 6.25%, 11/15/13                                                                                                                                                                                                                                                                        |      | 29,148      |   |
|                                                                                                                                                                                                    | 5,990                |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 1/15/15                                                                                                                                                                                                                                                                          |      | 6,091       |   |
|                                                                                                                                                                                                    | 60,145               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 1/15/32                                                                                                                                                                                                                                                                          |      | 67,925      |   |
|                                                                                                                                                                                                    | 16,960               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 1/15/32                                                                                                                                                                                                                                                                          |      | 20,170      |   |
|                                                                                                                                                                                                    | 57,804               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 10/15/24                                                                                                                                                                                                                                                                         |      | 67,496      |   |
|                                                                                                                                                                                                    | 38,867               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                         |      | 45,428      |   |
|                                                                                                                                                                                                    | 9,531                |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                         |      | 10,770      |   |
|                                                                                                                                                                                                    | 2,740                |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 10/15/31                                                                                                                                                                                                                                                                         |      | 3,251       |   |
|                                                                                                                                                                                                    | 143,415              |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 11/15/31                                                                                                                                                                                                                                                                         |      | 170,158     |   |
|                                                                                                                                                                                                    | 36,171               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 12/15/31                                                                                                                                                                                                                                                                         |      | 42,916      |   |
|                                                                                                                                                                                                    | 44,859               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/28                                                                                                                                                                                                                                                                          |      | 50,092      |   |
|                                                                                                                                                                                                    | 43,218               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/29                                                                                                                                                                                                                                                                          |      | 50,655      |   |
|                                                                                                                                                                                                    | 57,829               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 65,817      |   |
|                                                                                                                                                                                                    | 49,223               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 58,541      |   |
|                                                                                                                                                                                                    | 39,700               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 45,482      |   |
|                                                                                                                                                                                                    | 15,364               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 17,655      |   |
|                                                                                                                                                                                                    | 33,005               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 39,253      |   |
|                                                                                                                                                                                                    | 35,878               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 3/15/29                                                                                                                                                                                                                                                                          |      | 41,710      |   |
|                                                                                                                                                                                                    | 147,684              |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 3/15/29                                                                                                                                                                                                                                                                          |      | 166,058     |   |
|                                                                                                                                                                                                    | 131,385              |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 3/15/32                                                                                                                                                                                                                                                                          |      | 151,496     |   |
|                                                                                                                                                                                                    | 32,643               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/17                                                                                                                                                                                                                                                                          |      | 34,706      |   |
|                                                                                                                                                                                                    | 20,481               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/28                                                                                                                                                                                                                                                                          |      | 23,033      |   |
|                                                                                                                                                                                                    | 90,039               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/28                                                                                                                                                                                                                                                                          |      | 96,920      |   |
|                                                                                                                                                                                                    | 139,056              |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 165,378     |   |
|                                                                                                                                                                                                    | 13,343               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 15,029      |   |
|                                                                                                                                                                                                    | 35,977               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 42,787      |   |
|                                                                                                                                                                                                    | 58,245               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 4/15/33                                                                                                                                                                                                                                                                          |      | 66,806      |   |
|                                                                                                                                                                                                    | 9,412                |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/29                                                                                                                                                                                                                                                                          |      | 10,742      |   |
|                                                                                                                                                                                                    | 44,294               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/31                                                                                                                                                                                                                                                                          |      | 50,120      |   |
|                                                                                                                                                                                                    | 25,769               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 30,387      |   |
|                                                                                                                                                                                                    | 10,424               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 12,397      |   |
|                                                                                                                                                                                                    | 104,393              |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 124,155     |   |
|                                                                                                                                                                                                    | 44,842               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 53,330      |   |
|                                                                                                                                                                                                    | 40,349               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/17                                                                                                                                                                                                                                                                          |      | 44,164      |   |
|                                                                                                                                                                                                    | 18,356               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/28                                                                                                                                                                                                                                                                          |      | 21,279      |   |
|                                                                                                                                                                                                    | 30,715               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/29                                                                                                                                                                                                                                                                          |      | 36,238      |   |
|                                                                                                                                                                                                    | 14,272               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/31                                                                                                                                                                                                                                                                          |      | 16,933      |   |
|                                                                                                                                                                                                    | 11,510               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/31                                                                                                                                                                                                                                                                          |      | 13,141      |   |
|                                                                                                                                                                                                    | 23,663               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                          |      | 28,143      |   |
|                                                                                                                                                                                                    | 18,642               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                          |      | 22,171      |   |
|                                                                                                                                                                                                    | 50,077               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 7/15/31                                                                                                                                                                                                                                                                          |      | 57,016      |   |
|                                                                                                                                                                                                    | 15,737               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 7/15/32                                                                                                                                                                                                                                                                          |      | 17,893      |   |
|                                                                                                                                                                                                    | 44,640               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 7/15/32                                                                                                                                                                                                                                                                          |      | 53,091      |   |
|                                                                                                                                                                                                    | 19,543               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 8/15/28                                                                                                                                                                                                                                                                          |      | 22,981      |   |
|                                                                                                                                                                                                    | 18,964               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 8/15/31                                                                                                                                                                                                                                                                          |      | 22,500      |   |
|                                                                                                                                                                                                    | 66,354               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 8/15/32                                                                                                                                                                                                                                                                          |      | 78,247      |   |
|                                                                                                                                                                                                    | 82,911               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 8/15/32                                                                                                                                                                                                                                                                          |      | 98,086      |   |
|                                                                                                                                                                                                    | 32,140               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 9/15/31                                                                                                                                                                                                                                                                          |      | 36,630      |   |
|                                                                                                                                                                                                    | 68,525               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 9/15/31                                                                                                                                                                                                                                                                          |      | 81,303      |   |
|                                                                                                                                                                                                    | 33,241               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 39,439      |   |
|                                                                                                                                                                                                    | 55,244               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 65,702      |   |
|                                                                                                                                                                                                    | 79,723               |             | AAA/Aaa                | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 91,052      |   |
|                                                                                                                                                                                                    | 162,143              |             | AAA/Aaa                | Government National Mortgage Association I, 6.75%, 4/15/26                                                                                                                                                                                                                                                                         |      | 190,738     |   |
|                                                                                                                                                                                                    | 37,536               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 1/15/28                                                                                                                                                                                                                                                                          |      | 44,920      |   |
|                                                                                                                                                                                                    | 155,031              |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 1/15/31                                                                                                                                                                                                                                                                          |      | 184,931     |   |
|                                                                                                                                                                                                    | 9,856                |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 10/15/16                                                                                                                                                                                                                                                                         |      | 10,549      |   |
|                                                                                                                                                                                                    | 20,758               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 11/15/26                                                                                                                                                                                                                                                                         |      | 24,992      |   |
|                                                                                                                                                                                                    | 76,301               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 11/15/29                                                                                                                                                                                                                                                                         |      | 91,266      |   |
|                                                                                                                                                                                                    | 19,941               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 11/15/31                                                                                                                                                                                                                                                                         |      | 23,787      |   |
|                                                                                                                                                                                                    | 35,689               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 37,069      |   |
|                                                                                                                                                                                                    | 44,535               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 53,211      |   |
|                                                                                                                                                                                                    | 70,921               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 83,889      |   |
|                                                                                                                                                                                                    | 40,497               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 2/15/28                                                                                                                                                                                                                                                                          |      | 48,464      |   |
|                                                                                                                                                                                                    | 29,957               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 3/15/28                                                                                                                                                                                                                                                                          |      | 35,850      |   |
|                                                                                                                                                                                                    | 77,533               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 3/15/32                                                                                                                                                                                                                                                                          |      | 92,298      |   |
|                                                                                                                                                                                                    | 37,928               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 4/15/28                                                                                                                                                                                                                                                                          |      | 45,389      |   |
|                                                                                                                                                                                                    | 48,883               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 4/15/29                                                                                                                                                                                                                                                                          |      | 58,470      |   |
|                                                                                                                                                                                                    | 35,645               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 4/15/31                                                                                                                                                                                                                                                                          |      | 42,520      |   |
|                                                                                                                                                                                                    | 55,898               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 4/15/32                                                                                                                                                                                                                                                                          |      | 66,542      |   |
|                                                                                                                                                                                                    | 76,015               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 5/15/29                                                                                                                                                                                                                                                                          |      | 90,924      |   |
|                                                                                                                                                                                                    | 12,651               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 5/15/31                                                                                                                                                                                                                                                                          |      | 15,091      |   |
|                                                                                                                                                                                                    | 43,635               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 6/15/27                                                                                                                                                                                                                                                                          |      | 51,346      |   |
|                                                                                                                                                                                                    | 6,254                |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 6/15/29                                                                                                                                                                                                                                                                          |      | 7,481       |   |
|                                                                                                                                                                                                    | 63,612               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 7/15/25                                                                                                                                                                                                                                                                          |      | 73,592      |   |
|                                                                                                                                                                                                    | 26,179               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 7/15/28                                                                                                                                                                                                                                                                          |      | 31,328      |   |
|                                                                                                                                                                                                    | 47,203               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 7/15/28                                                                                                                                                                                                                                                                          |      | 55,685      |   |
|                                                                                                                                                                                                    | 27,026               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 7/15/29                                                                                                                                                                                                                                                                          |      | 31,248      |   |
|                                                                                                                                                                                                    | 47,069               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 8/15/23                                                                                                                                                                                                                                                                          |      | 54,834      |   |
|                                                                                                                                                                                                    | 137,294              |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 9/15/24                                                                                                                                                                                                                                                                          |      | 163,460     |   |
|                                                                                                                                                                                                    | 58,469               |             | AAA/Aaa                | Government National Mortgage Association I, 7.0%, 9/15/31                                                                                                                                                                                                                                                                          |      | 69,745      |   |
|                                                                                                                                                                                                    | 69,151               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 10/15/23                                                                                                                                                                                                                                                                         |      | 81,428      |   |
|                                                                                                                                                                                                    | 89,082               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 10/15/27                                                                                                                                                                                                                                                                         |      | 104,852     |   |
|                                                                                                                                                                                                    | 18,861               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 10/15/29                                                                                                                                                                                                                                                                         |      | 21,825      |   |
|                                                                                                                                                                                                    | 17,807               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 11/15/30                                                                                                                                                                                                                                                                         |      | 18,352      |   |
|                                                                                                                                                                                                    | 5,193                |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 12/15/25                                                                                                                                                                                                                                                                         |      | 5,449       |   |
|                                                                                                                                                                                                    | 40,902               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 2/15/27                                                                                                                                                                                                                                                                          |      | 47,589      |   |
|                                                                                                                                                                                                    | 18,067               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 2/15/31                                                                                                                                                                                                                                                                          |      | 19,124      |   |
|                                                                                                                                                                                                    | 15,971               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 3/15/23                                                                                                                                                                                                                                                                          |      | 18,073      |   |
|                                                                                                                                                                                                    | 58,708               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 3/15/27                                                                                                                                                                                                                                                                          |      | 70,692      |   |
|                                                                                                                                                                                                    | 11,382               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 3/15/31                                                                                                                                                                                                                                                                          |      | 12,408      |   |
|                                                                                                                                                                                                    | 32,873               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 4/15/23                                                                                                                                                                                                                                                                          |      | 33,556      |   |
|                                                                                                                                                                                                    | 2,046                |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 6/15/24                                                                                                                                                                                                                                                                          |      | 2,144       |   |
|                                                                                                                                                                                                    | 19,473               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 6/15/29                                                                                                                                                                                                                                                                          |      | 22,553      |   |
|                                                                                                                                                                                                    | 13,088               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 8/15/25                                                                                                                                                                                                                                                                          |      | 13,532      |   |
|                                                                                                                                                                                                    | 1,422                |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 8/15/29                                                                                                                                                                                                                                                                          |      | 1,449       |   |
|                                                                                                                                                                                                    | 3,246                |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 8/15/29                                                                                                                                                                                                                                                                          |      | 3,355       |   |
|                                                                                                                                                                                                    | 14,601               |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 9/15/25                                                                                                                                                                                                                                                                          |      | 16,949      |   |
|                                                                                                                                                                                                    | 6,648                |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 9/15/25                                                                                                                                                                                                                                                                          |      | 6,701       |   |
|                                                                                                                                                                                                    | 113,129              |             | AAA/Aaa                | Government National Mortgage Association I, 7.5%, 9/15/29                                                                                                                                                                                                                                                                          |      | 130,759     |   |
|                                                                                                                                                                                                    | 77,508               |             | AAA/Aaa                | Government National Mortgage Association I, 8.25%, 5/15/20                                                                                                                                                                                                                                                                         |      | 83,577      |   |
|                                                                                                                                                                                                    | 87                   |             | AAA/Aaa                | Government National Mortgage Association I, 8.5%, 2/15/23                                                                                                                                                                                                                                                                          |      | 87          |   |
|                                                                                                                                                                                                    | 2,688                |             | AAA/Aaa                | Government National Mortgage Association I, 8.5%, 8/15/21                                                                                                                                                                                                                                                                          |      | 2,725       |   |
|                                                                                                                                                                                                    | 13,798               |             | AAA/Aaa                | Government National Mortgage Association I, 9.0%, 1/15/20                                                                                                                                                                                                                                                                          |      | 14,437      |   |
|                                                                                                                                                                                                    | 2,181                |             | AAA/Aaa                | Government National Mortgage Association I, 9.0%, 12/15/19                                                                                                                                                                                                                                                                         |      | 2,478       |   |
|                                                                                                                                                                                                    | 324                  |             | AAA/Aaa                | Government National Mortgage Association I, 9.0%, 4/15/20                                                                                                                                                                                                                                                                          |      | 325         |   |
|                                                                                                                                                                                                    | 2,797                |             | AAA/Aaa                | Government National Mortgage Association I, 9.0%, 6/15/22                                                                                                                                                                                                                                                                          |      | 2,966       |   |
|                                                                                                                                                                                                    | 542                  |             | AAA/Aaa                | Government National Mortgage Association I, 9.0%, 9/15/21                                                                                                                                                                                                                                                                          |      | 623         |   |
|                                                                                                                                                                                                    | 77,419               |             | AAA/Aaa                | Government National Mortgage Association II, 5.0%, 1/20/20                                                                                                                                                                                                                                                                         |      | 84,159      |   |
|                                                                                                                                                                                                    | 221,773              |             | AAA/Aaa                | Government National Mortgage Association II, 5.0%, 12/20/18                                                                                                                                                                                                                                                                        |      | 241,079     |   |
|                                                                                                                                                                                                    | 147,033              |             | AAA/Aaa                | Government National Mortgage Association II, 5.0%, 2/20/19                                                                                                                                                                                                                                                                         |      | 159,832     |   |
|                                                                                                                                                                                                    | 363,915              |             | AAA/Aaa                | Government National Mortgage Association II, 5.5%, 10/20/37                                                                                                                                                                                                                                                                        |      | 400,322     |   |
|                                                                                                                                                                                                    | 72,951               |             | AAA/Aaa                | Government National Mortgage Association II, 5.75%, 4/20/33                                                                                                                                                                                                                                                                        |      | 80,705      |   |
|                                                                                                                                                                                                    | 72,606               |             | AAA/Aaa                | Government National Mortgage Association II, 5.75%, 4/20/33                                                                                                                                                                                                                                                                        |      | 80,210      |   |
|                                                                                                                                                                                                    | 166,088              |             | AAA/Aaa                | Government National Mortgage Association II, 5.75%, 6/20/33                                                                                                                                                                                                                                                                        |      | 183,742     |   |
|                                                                                                                                                                                                    | 32,458               |             | AAA/Aaa                | Government National Mortgage Association II, 5.9%, 1/20/28                                                                                                                                                                                                                                                                         |      | 35,928      |   |
|                                                                                                                                                                                                    | 74,539               |             | AAA/Aaa                | Government National Mortgage Association II, 5.9%, 11/20/27                                                                                                                                                                                                                                                                        |      | 81,437      |   |
|                                                                                                                                                                                                    | 54,111               |             | AAA/Aaa                | Government National Mortgage Association II, 5.9%, 5/20/28                                                                                                                                                                                                                                                                         |      | 59,507      |   |
|                                                                                                                                                                                                    | 142,625              |             | AAA/Aaa                | Government National Mortgage Association II, 5.9%, 7/20/28                                                                                                                                                                                                                                                                         |      | 154,710     |   |
|                                                                                                                                                                                                    | 186,254              |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 1/20/33                                                                                                                                                                                                                                                                         |      | 212,864     |   |
|                                                                                                                                                                                                    | 48,171               |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 10/20/31                                                                                                                                                                                                                                                                        |      | 55,114      |   |
|                                                                                                                                                                                                    | 225,012              |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 10/20/33                                                                                                                                                                                                                                                                        |      | 266,468     |   |
|                                                                                                                                                                                                    | 125,450              |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 12/20/18                                                                                                                                                                                                                                                                        |      | 133,968     |   |
|                                                                                                                                                                                                    | 134,432              |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 6/20/34                                                                                                                                                                                                                                                                         |      | 156,831     |   |
|                                                                                                                                                                                                    | 32,797               |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 7/20/17                                                                                                                                                                                                                                                                         |      | 34,619      |   |
|                                                                                                                                                                                                    | 55,148               |             | AAA/Aaa                | Government National Mortgage Association II, 6.0%, 7/20/19                                                                                                                                                                                                                                                                         |      | 59,426      |   |
|                                                                                                                                                                                                    | 96,766               |             | AAA/Aaa                | Government National Mortgage Association II, 6.45%, 1/20/33                                                                                                                                                                                                                                                                        |      | 110,591     |   |
|                                                                                                                                                                                                    | 54,049               |             | AAA/Aaa                | Government National Mortgage Association II, 6.45%, 11/20/32                                                                                                                                                                                                                                                                       |      | 61,805      |   |
|                                                                                                                                                                                                    | 54,538               |             | AAA/Aaa                | Government National Mortgage Association II, 6.45%, 7/20/32                                                                                                                                                                                                                                                                        |      | 62,329      |   |
|                                                                                                                                                                                                    | 53,992               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 1/20/24                                                                                                                                                                                                                                                                         |      | 62,024      |   |
|                                                                                                                                                                                                    | 79,717               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 10/20/32                                                                                                                                                                                                                                                                        |      | 97,531      |   |
|                                                                                                                                                                                                    | 95,780               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 3/20/34                                                                                                                                                                                                                                                                         |      | 117,608     |   |
|                                                                                                                                                                                                    | 27,913               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 4/20/31                                                                                                                                                                                                                                                                         |      | 33,901      |   |
|                                                                                                                                                                                                    | 20,342               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 6/20/31                                                                                                                                                                                                                                                                         |      | 24,061      |   |
|                                                                                                                                                                                                    | 93,272               |             | AAA/Aaa                | Government National Mortgage Association II, 6.5%, 8/20/28                                                                                                                                                                                                                                                                         |      | 112,188     |   |
|                                                                                                                                                                                                    | 22,439               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 1/20/31                                                                                                                                                                                                                                                                         |      | 27,114      |   |
|                                                                                                                                                                                                    | 18,071               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 11/20/31                                                                                                                                                                                                                                                                        |      | 21,539      |   |
|                                                                                                                                                                                                    | 13,309               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 2/20/29                                                                                                                                                                                                                                                                         |      | 15,980      |   |
|                                                                                                                                                                                                    | 10,040               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 3/20/31                                                                                                                                                                                                                                                                         |      | 12,132      |   |
|                                                                                                                                                                                                    | 19,081               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 5/20/26                                                                                                                                                                                                                                                                         |      | 22,624      |   |
|                                                                                                                                                                                                    | 40,463               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 6/20/28                                                                                                                                                                                                                                                                         |      | 47,645      |   |
|                                                                                                                                                                                                    | 43,336               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 7/20/31                                                                                                                                                                                                                                                                         |      | 52,365      |   |
|                                                                                                                                                                                                    | 39,298               |             | AAA/Aaa                | Government National Mortgage Association II, 7.0%, 8/20/27                                                                                                                                                                                                                                                                         |      | 46,814      |   |
|                                                                                                                                                                                                    | 11,962               |             | AAA/Aaa                | Government National Mortgage Association II, 7.5%, 12/20/30                                                                                                                                                                                                                                                                        |      | 14,881      |   |
|                                                                                                                                                                                                    | 19,793               |             | AAA/Aaa                | Government National Mortgage Association II, 7.5%, 5/20/30                                                                                                                                                                                                                                                                         |      | 24,236      |   |
|                                                                                                                                                                                                    | 6,777                |             | AAA/Aaa                | Government National Mortgage Association II, 7.5%, 6/20/30                                                                                                                                                                                                                                                                         |      | 8,427       |   |
|                                                                                                                                                                                                    | 18,189               |             | AAA/Aaa                | Government National Mortgage Association II, 7.5%, 7/20/30                                                                                                                                                                                                                                                                         |      | 22,223      |   |
|                                                                                                                                                                                                    | 21,367               |             | AAA/Aaa                | Government National Mortgage Association II, 7.5%, 8/20/30                                                                                                                                                                                                                                                                         |      | 26,561      |   |
|                                                                                                                                                                                                    | 17,022               |             | AAA/Aaa                | Government National Mortgage Association II, 8.0%, 3/20/30                                                                                                                                                                                                                                                                         |      | 21,678      |   |
|                                                                                                                                                                                                    | 40,450               |             | AAA/Aaa                | Government National Mortgage Association II, 8.0%, 4/20/30                                                                                                                                                                                                                                                                         |      | 51,524      |   |
|                                                                                                                                                                                                    | 72                   |             | AAA/Aaa                | Government National Mortgage Association II, 8.0%, 5/20/25                                                                                                                                                                                                                                                                         |      | 83          |   |
|                                                                                                                                                                                                    | 22,155               |             | AAA/Aaa                | Government National Mortgage Association II, 8.0%, 5/20/30                                                                                                                                                                                                                                                                         |      | 28,218      |   |
|                                                                                                                                                                                                    | 24,619               |             | AAA/Aaa                | Government National Mortgage Association II, 8.0%, 6/20/30                                                                                                                                                                                                                                                                         |      | 30,474      |   |
|                                                                                                                                                                                                    | 10,161               |             | AAA/Aaa                | Government National Mortgage Association II, 9.0%, 11/20/24                                                                                                                                                                                                                                                                        |      | 11,200      |   |
|                                                                                                                                                                                                    | 6,287                |             | AAA/Aaa                | Government National Mortgage Association II, 9.0%, 3/20/22                                                                                                                                                                                                                                                                         |      | 6,548       |   |
|                                                                                                                                                                                                    | 1,104                |             | AAA/Aaa                | Government National Mortgage Association II, 9.0%, 4/20/22                                                                                                                                                                                                                                                                         |      | 1,125       |   |
|                                                                                                                                                                                                    | 3,319                |             | AAA/Aaa                | Government National Mortgage Association II, 9.0%, 9/20/21                                                                                                                                                                                                                                                                         |      | 3,818       |   |
|                                                                                                                                                                                                    | 1,156,145            |             | AA-/Aaa                | New Valley Generation I, 7.299%, 3/15/19                                                                                                                                                                                                                                                                                           |      | 1,390,730   |   |
|                                                                                                                                                                                                    | 1,368,745            |             | AA-/Aaa                | New Valley Generation III, 4.929%, 1/15/21                                                                                                                                                                                                                                                                                         |      | 1,582,543   |   |
|                                                                                                                                                                                                    | 2,600,000            |             | AA+/Aaa                | Tennessee Valley Authority, 5.5%, 6/15/38                                                                                                                                                                                                                                                                                          |      | 3,431,701   |   |
|                                                                                                                                                                                                    | 1,500,000            |             | AA+/NR                 | Tennessee Valley Authority, 6.25%, 12/15/17                                                                                                                                                                                                                                                                                        |      | 1,864,542   |   |
|                                                                                                                                                                                                    | 1,500,000            |             | AA+/Aaa                | U.S. Treasury Bonds, 3.0%, 5/15/42                                                                                                                                                                                                                                                                                                 |      | 1,535,859   |   |
|                                                                                                                                                                                                    | 3,125,000            |             | AA+/Aaa                | U.S. Treasury Bonds, 4.25%, 5/15/39                                                                                                                                                                                                                                                                                                |      | 3,993,162   |   |
|                                                                                                                                                                                                    | 1,500,000            |             | AA+/Aaa                | U.S. Treasury Bonds, 4.5%, 2/15/36                                                                                                                                                                                                                                                                                                 |      | 1,974,375   |   |
|                                                                                                                                                                                                    | 1,900,000            |             | AA+/Aaa                | U.S. Treasury Bonds, 4.5%, 5/15/38                                                                                                                                                                                                                                                                                                 |      | 2,513,343   |   |
|                                                                                                                                                                                                    | 4,000,000            |             | AA+/Aaa                | U.S. Treasury Notes, 0.625%, 5/31/17                                                                                                                                                                                                                                                                                               |      | 4,019,688   |   |
|                                                                                                                                                                                                    | 5,300,000            |             | AA+/Aaa                | U.S. Treasury Notes, 0.875%, 12/31/16                                                                                                                                                                                                                                                                                              |      | 5,385,712   |   |
|                                                                                                                                                                                                    | 5,200,000            |             | AA+/Aaa                | U.S. Treasury Notes, 1.875%, 8/31/17                                                                                                                                                                                                                                                                                               |      | 5,498,594   |   |
|                                                                                                                                                                                                    | 3,500,000            |             | AA+/Aaa                | U.S. Treasury Notes, 2.625%, 11/15/20                                                                                                                                                                                                                                                                                              |      | 3,858,750   |   |
|                                                                                                                                                                                                    | 750,000              |             | AA+/Aaa                | U.S. Treasury Notes, 3.125%, 5/15/21                                                                                                                                                                                                                                                                                               |      | 853,946     |   |
|                                                                                                                                                                                                    | 1,500,000            |             | AA+/Aaa                | U.S. Treasury Notes, 4.0%, 8/15/18                                                                                                                                                                                                                                                                                                 |      | 1,757,696   |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                       |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $83,419,004)                                                                                                                                                                                                                                                                                                                 | $         | 88,587,217  |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | FOREIGN GOVERNMENT BONDS - 4.9%                                                                                                                                                                                                                                                                                                    |      |        |   |
|                                                                                                                                                                                                    | 4,000,000            |             | AA+/Aaa                | Israel Government AID Bond, 5.5%, 4/26/24                                                                                                                                                                                                                                                                                          | $         | 5,288,284   |   |
|                                                                                                                                                                                                    | 2,000,000            |             | AA+/Aaa                | Israel Government AID Bond, 5.5%, 9/18/23                                                                                                                                                                                                                                                                                          |      | 2,627,648   |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                     |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $7,139,740)                                                                                                                                                                                                                                                                                                                  | $         | 7,915,932   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | MUNICIPAL BONDS - 3.0%                                                                                                                                                                                                                                                                                                             |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Higher Municipal Education - 1.8%                                                                                                                                                                                                                                                                                                  |      |        |   |
|                                                                                                                                                                                                    | 100,000              |             | AAA/Aaa                | Connecticut State Health & Educational Facility Authority, 5.0%, 7/1/40                                                                                                                                                                                                                                                        | $         | 114,769     |   |
|                                                                                                                                                                                                    | 400,000              |             | AAA/Aaa                | Houston Higher Education Finance Corp., 4.5%, 11/15/37                                                                                                                                                                                                                                                                             |      | 432,176     |   |
|                                                                                                                                                                                                    | 1,000,000            |             | AAA/Aaa                | Massachusetts Health & Educational Facilities Authority, 5.5%, 11/15/36                                                                                                                                                                                                                                                        | 1,193,300 |        |
|                                                                                                                                                                                                    | 270,000              |             | AA/Aa1                 | New York State Dormitory Authority Series A, 5.0%, 7/1/40                                                                                                                                                                                                                                                                          |      | 310,792     |   |
|                                                                                                                                                                                                    | 350,000              |             | AA+/Aa1                | New York State Dormitory Authority Series C, 5.0%, 7/1/40                                                                                                                                                                                                                                                                          |      | 393,970     |   |
|                                                                                                                                                                                                    | 200,000              |             | AAA/Aaa                | New York State Dormitory Authority, 5.0%, 10/1/41                                                                                                                                                                                                                                                                                  |      | 233,372     |   |
|                                                                                                                                                                                                    | 210,000              |             | AA/Aa2                 | Pennsylvania State University, 5.0%, 3/1/40                                                                                                                                                                                                                                                                                        |      | 243,209     |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               | $         | 2,921,588   |   |
|                                                                                                                                                                                                    |                 |             |                   | Municipal Utilities - 0.4%                                                                                                                                                                                                                                                                                                         |      |        |   |
|                                                                                                                                                                                                    | 600,000              |             | AAA/Aaa                | Washington Suburban Sanitary Commission, 4.0%, 6/1/30                                                                                                                                                                                                                                                                              | $         | 676,362     |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Municipal Water - 0.1%                                                                                                                                                                                                                                                                                                             |      |        |   |
|                                                                                                                                                                                                    | 180,000              |             | AAA/Aaa                | City of Charlotte North Carolina Water & Sewer System Revenue, 5.0%, 7/1/38                                                                                                                                                                                                                                                    | $         | 206,815     |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Municipal Obligation - 0.7%                                                                                                                                                                                                                                                                                                        |      |        |   |
|                                                                                                                                                                                                    | 700,000              |             | AAA/Aaa                | County of Wake North Carolina, 4.0%, 5/1/30                                                                                                                                                                                                                                                                                        | $         | 788,459     |   |
|                                                                                                                                                                                                    | 250,000              |             | AA+/Aa1                | State of Washington, 5.0%, 8/1/39                                                                                                                                                                                                                                                                                                  |      | 286,892     |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               | $         | 1,075,351   |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                              |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $4,504,990)                                                                                                                                                                                                                                                                                                                  | $         | 4,880,116   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | TEMPORARY CASH INVESTMENTS - 6.2%                                                                                                                                                                                                                                                                                                  |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Repurchase Agreements - 6.2%                                                                                                                                                                                                                                                                                                       |      |        |   |
|                                                                                                                                                                                                    | 10,025,000           |             | NR/Aaa                 | Deutschebank AG, 0.14%, dated 4/30/13, repurchase price of                                                                                                                                                                                                                                                                         |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | $10,024,996 plus accrued interest on 5/1/13 collateralized by                                                                                                                                                                                                                                                                      |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | the following:                                                                                                                                                                                                                                                                                                                     |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | $6,109,330 U.S. Treasury Strip, 0.0-4.75%, 5/15/13-2/15/43                                                                                                                                                                                                                                                                         |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | $2,828,799 U.S. Treasury Notes, 0.25-5.125%, 5/15/13-5/15/22                                                                                                                                                                                                                                                                       |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | $562,050 U.S. Treasury Bills, 0.0%, 5/23/13-2/6/14                                                                                                                                                                                                                                                                                 |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | $725,386 U.S. Treasury Bonds, 4.25-10.625%, 5/15/16-5/15/40                                                                                                                                                                                                                                                                        | $         | 10,024,996  |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL TEMPORARY CASH INVESTMENTS                                                                                                                                                                                                                                                                                                   |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $10,025,000)                                                                                                                                                                                                                                                                                                                 | $         | 10,024,996  |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL INVESTMENT IN SECURITIES - 103.6%                                                                                                                                                                                                                                                                                            |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | (Cost $162,089,456) (a)                                                                                                                                                                                                                                                                                                            | $         | 168,876,990 |   |
|                                                                                                                                                                                                    |                 |             |                   | OTHER ASSETS & LIABILITIES - (3.6)%                                                                                                                                                                                                                                                                                            | $         | (5,891,914) |   |
|                                                                                                                                                                                                    |                 |             |                   | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                          | $         | 162,985,076 |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    | NR                   |             |                   | Not rated by either S&P or Moody's.                                                                                                                                                                                                                                                                                            |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    | (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 April 30, 2013, the value of these securities amounted to $3,711,801 or 2.3% of total net assets. |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    | (a)                  |             |                   | At April, 30, 2013, the net unrealized gain on investments based on                                                                                                                                                                                                                                                                |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | cost for federal income tax purposes of $162,258,787 was as follows:                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Aggregate gross unrealized gain for all investments in which                                                                                                                                                                                                                                                                       |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                          | $         | 9,454,229   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Aggregate gross unrealized loss for all investments in which                                                                                                                                                                                                                                                                       |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                          |      | (2,836,026) |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   | Net unrealized gain                                                                                                                                                                                                                                                                                                                | $         | 6,618,203   |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    | (b)                  |             |                   | Debt obligation with a variable interest rate.  Rate shown is rate at end of period.                                                                                                                                                                                                                                     |      |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
| 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.                            |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
| Generally, equity securities are categorized as Level 1, fixed income securities and senior loans as Level 2 and securities valued                                                                      |
| using fair value methods (other than prices supplied by independent pricing services) as Level 3.  See Notes to Financial Statements - Note 1A.                                               |
|                                                                                                                                                                                                    |                 |             |                   |                                                                                                                                                                                                                                                                                                                               |      |        |   |
| The following is a summary of the inputs used as of April, 30, 2013, in valuing the Fund's investments:                                                                                                 |                 |             |

|                                                                                            |   | Level 1 |     |   | Level 2 |   |        | Level 3 |   |   | Total  |   |
|-------------------------------------------------------------------------------------------------|--------|---------|----------|--------|---------|--------|-------------|---------|--------|--------|--------|--------|
| Asset Backed Securities                                                                         |   | $       | -        |   |    | $      | 9,078,423   |    |   | $      | -      |   |   | $ | 9,078,423 |   |
| Collateralized Mortgage Obligations                                                             |   |    | -        |   |    |   | 31,033,114  |    |   |   | -      |   |   |   | 31,033,114 |   |
| Corporate Bonds                                                                                 |   |    | -        |   |    |   | 17,357,192  |    |   |   | -      |   |   |   | 17,357,192 |   |
| U.S. Government Agency Obligations                                                              |   |    | -        |   |    |   | 88,587,217  |    |   |   | -      |   |   |   | 88,587,217 |   |
| Foreign Government Bonds                                                                        |   |    | -        |   |    |   | 7,915,932   |    |   |   | -      |   |   |   | 7,915,932 |   |
| Municipal Bonds                                                                                 |   |    | -        |   |    |   | 4,880,116   |    |   |   | -      |   |   |   | 4,880,116 |   |
| Repurchase Agreements                                                                           |   |    | -        |   |    |   | 10,024,996  |    |   |   | -      |   |   |   | 10,024,996 |   |
| Total                                                                                           |   | $       | -        |   |    | $      | 168,876,990 |    |   | $      | -      |   |   | $ | 168,876,990 |   |
| Other Financial Instruments:                                                                    |   |    |     |   |    |   |        |    |   |   |   |   |   |   |   |   |
| Futures contracts                                                                               |   | $       | (142,125 | )      |    |   |        |    |   | $      | -      |   |   | $ | (142,125 | ) |
| Total                                                                                           |   | $       | (142,125 | )      |    |   |        |    |   | $      | -      |   |   | $ | (142,125 | ) |
|                                                                                            |   |    |     |   |    |   |        |    |   |   |   |   |   |   |   |   |
| During the six months ended April, 30, 2013, there were no transfers between Levels 1, 2 and 3. |   |    |     |   |    |