```

                                                             OMB APPROVAL
                                                     OMB Number:       3235-0578
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                                                     hours per response.....
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                                 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 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, 2014

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

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

<PAGE>
ITEM 1. Schedule of Investments.

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

```

```

|                                                                                                                                                             |                 |                        |                                                                                                 | Pioneer Multi-Asset Income Fund (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|-----------------------------|------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------|
|                                                                                                                                                             |                 |                        |                                                                                                 | Schedule of Investments 4/30/2014                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | PrincipalAmount ($)  | FloatingRate (b)(unaudited) | S&P/Moody'sRatings(unaudited)                                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | Value     |
|                                                                                                                                                             |                 |                        |                                                                                                 | CONVERTIBLE CORPORATE BONDS - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Energy - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Exploration & Production - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 300,000              |                        | NR/NR                                                                                                | Cobalt International Energy, Inc., 2.625%, 12/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 281,812     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 281,812     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Pharmaceuticals, Biotechnology & Life Sciences - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Biotechnology - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 350,000              |                        | NR/NR                                                                                                | Corsicanto, Ltd., 3.5%, 1/15/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 252,438     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 252,438     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Mortgage REIT - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 595,000              |                        | NR/NR                                                                                                | Apollo Commercial Real Estate Finance, Inc., 5.5%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 630,700     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 630,700     |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL CONVERTIBLE CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $1,143,385)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 1,164,950   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | PREFERRED STOCKS - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Transportation - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Air Freight & Logistics - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 49                   |                        | NR/NR                                                                                                | CEVA Group Plc, 12/31/14 * (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 61,416      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 61,416      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Regional Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 1,000                | 6.25                        | A-/NR                                                                                                | CoBank ACB, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 102,719     |
|                                                                                                                                                             | 15,000               | 6.62                        | BBB-/Ba1                                                                                             | Fifth Third Bancorp, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 398,400     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 501,119     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 501,119     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Financials - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Other Diversified Financial Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 37,000               | 7.12                        | BB+/B1                                                                                               | Citigroup, Inc., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,004,550   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Investment Banking & Brokerage - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 30,000               | 7.12                        | BB+/Ba3                                                                                              | Morgan Stanley, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 819,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,823,550   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Insurance - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Reinsurance - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 50,508               | 0.00                        | NR/NR                                                                                                | Altair Re, Floating Rate Note, 4/30/16 (Cat Bond)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 60,912      |
|                                                                                                                                                             | 300,000              | N/A                         | NR/NR                                                                                                | Altair Re, Floating Rate Note, 6/30/16 (Cat Bond)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 306,990     |
|                                                                                                                                                             | 125,000              |                        | NR/NR                                                                                                | Pangaea Re, 10/1/15 (Cat Bond) (d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 139,051     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 506,953     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 506,953     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Utilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electric Utilities - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 10,000               |                        | BB+/Ba1                                                                                              | PPL Capital Funding, Inc., 5.9%, 4/30/73                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 241,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 241,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $2,923,008)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 3,134,038   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | CONVERTIBLE PREFERRED STOCKS - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Energy - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Exploration & Production - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 500                  |                        | NR/NR                                                                                                | Halcon Resources Corp., 5.75% (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 478,562     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 478,562     |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL CONVERTIBLE PREFERRED STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $355,000)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 478,562     |
|                                                                                                                                                             | Shares               |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | COMMON STOCKS - 50.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Energy - 4.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Integrated Oil & Gas - 4.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 279,251              |                        |                                                                                                 | BP Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 2,356,291   |
|                                                                                                                                                             | 596,805              |                        |                                                                                                 | Ecopetrol SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 1,111,059   |
|                                                                                                                                                             | 21,839               |                        |                                                                                                 | Exxon Mobil Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 2,236,532   |
|                                                                                                                                                             | 264,323              |                        |                                                                                                 | Royal Dutch Shell Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 10,439,255  |
|                                                                                                                                                             | 72,137               |                        |                                                                                                 | Total SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 5,157,402   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 21,300,539  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Refining & Marketing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 589,097              |                        |                                                                                                 | Chevron Lubricants Lanka Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,208,984   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Storage & Transportation - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 56,269               |                        |                                                                                                 | Avance Gas Holding, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 1,216,878   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 23,726,401  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Materials - 4.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Commodity Chemicals - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 82,481               |                        |                                                                                                 | LyondellBasell Industries NV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 7,629,492   |
|                                                                                                                                                             | 706,361              |                        |                                                                                                 | Synthos SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,112,909   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 8,742,401   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Chemicals - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 12,138               |                        |                                                                                                 | The Dow Chemical Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 605,686     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Metals & Mining - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 105,844              |                        |                                                                                                 | Antofagasta Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,410,241   |
|                                                                                                                                                             | 80,537               |                        |                                                                                                 | BHP Billiton, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 2,838,090   |
|                                                                                                                                                             | 355,000              |                        |                                                                                                 | Sumitomo Metal Mining Co, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 5,356,205   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 9,604,536   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Steel - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 493,720              |                        |                                                                                                 | Fortescue Metals Group, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 2,335,942   |
|                                                                                                                                                             | 930,000              |                        |                                                                                                 | Nippon Steel & Sumitomo Metal Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 2,440,299   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,776,241   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 23,728,864  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Capital Goods - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Construction & Farm Machinery & Heavy Trucks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 4,440,000            |                        |                                                                                                 | Nam Cheong, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 1,260,209   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Industrial Machinery - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 469,000              |                        |                                                                                                 | Sarine Technologies, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,037,446   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 2,297,655   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Transportation - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Air Freight & Logistics - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 22                   |                        |                                                                                                 | CEVA Group Plc *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 28,374      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Airlines - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 146,029              |                        |                                                                                                 | American Airlines Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 5,121,237   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,149,611   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Automobiles & Components - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Tires & Rubber - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 32,200               |                        |                                                                                                 | Bridgestone Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 1,153,866   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Automobile Manufacturers - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 23,567               |                        |                                                                                                 | Daimler AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 2,182,947   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 3,336,813   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Durables & Apparel - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Leisure Products - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 18,100               |                        |                                                                                                 | Sega Sammy Holdings, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 364,378     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 364,378     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Casinos & Gaming - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 22,710               |                        |                                                                                                 | Grand Korea Leisure Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 949,185     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Restaurants - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 9,098                |                        |                                                                                                 | McDonald's Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 922,355     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,871,540   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Retailing - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Department Stores - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 27,426               |                        |                                                                                                 | Macy's, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,575,075   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,575,075   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food, Beverage & Tobacco - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Packaged Foods & Meats - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 28,462               |                        |                                                                                                 | Kraft Foods Group, Inc. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,618,349   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Tobacco - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 25,882               |                        |                                                                                                 | Altria Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,038,127   |
|                                                                                                                                                             | 50,089               |                        |                                                                                                 | Lorillard, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 2,976,288   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,014,415   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 5,632,764   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Household & Personal Products - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Household Products - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 9,302                |                        |                                                                                                 | The Clorox Co.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 843,691     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Personal Products - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 27,571               |                        |                                                                                                 | Nu Skin Enterprises, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 2,398,677   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 3,242,368   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Equipment & Services - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 12,731               |                        |                                                                                                 | Edwards Lifesciences Corp. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,037,195   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Distributors - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 22,076               |                        |                                                                                                 | Cardinal Health, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 1,534,503   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 2,571,698   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Pharmaceuticals, Biotechnology & Life Sciences - 7.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Pharmaceuticals - 7.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 51,448               |                        |                                                                                                 | AstraZeneca Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 4,064,619   |
|                                                                                                                                                             | 123,834              |                        |                                                                                                 | GlaxoSmithKline Plc                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 3,415,981   |
|                                                                                                                                                             | 95,311               |                        |                                                                                                 | Johnson & Johnson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 9,654,051   |
|                                                                                                                                                             | 171,699              |                        |                                                                                                 | Merck & Co., Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 10,054,693  |
|                                                                                                                                                             | 94,254               |                        |                                                                                                 | Novartis AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 8,192,566   |
|                                                                                                                                                             | 18,180               |                        |                                                                                                 | Roche Holding AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 5,345,620   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 40,727,530  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 40,727,530  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Banks - 4.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Banks - 3.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 870,041              |                        |                                                                                                 | Abu Dhabi Commercial Bank PJSC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,840,511   |
|                                                                                                                                                             | 19,843,600           |                        |                                                                                                 | Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 1,656,657   |
|                                                                                                                                                             | 125,159              |                        |                                                                                                 | Doha Bank QSC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 2,231,027   |
|                                                                                                                                                             | 580,200              |                        |                                                                                                 | Mitsubishi UFJ Financial Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 3,078,847   |
|                                                                                                                                                             | 133,200              |                        |                                                                                                 | Sumitomo Mitsui Financial Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 5,259,956   |
|                                                                                                                                                             | 143,912              |                        |                                                                                                 | Swedbank AB                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 3,832,751   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 17,899,749  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Regional Banks - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 37,908               |                        |                                                                                                 | The PNC Financial Services Group, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 3,185,788   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 21,085,537  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Financials - 5.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Other Diversified Financial Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 28,872               |                        |                                                                                                 | Intercorp Financial Services, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 923,904     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Specialized Finance - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 156,015              |                        |                                                                                                 | TPG Specialty Lending, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 2,831,672   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Asset Management & Custody Banks - 5.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 511,311              |                        |                                                                                                 | Ares Capital Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 8,779,210   |
|                                                                                                                                                             | 327,772              |                        |                                                                                                 | Golub Capital BDC, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 5,480,348   |
|                                                                                                                                                             | 529,424              |                        |                                                                                                 | TCP Capital Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 8,571,375   |
|                                                                                                                                                             | 256,010              |                        |                                                                                                 | TriplePoint Venture Growth BDC Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 3,891,352   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 26,722,285  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 30,477,861  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Insurance - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Multi-line Insurance - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 3,973                |                        |                                                                                                 | Allianz SE *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 688,422     |
|                                                                                                                                                             | 22,280               |                        |                                                                                                 | Zurich Insurance Group AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 6,394,253   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 7,082,675   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Reinsurance - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 24,595               |                        |                                                                                                 | Swiss Re AG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 2,151,485   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 9,234,160   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate - 2.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Industrial REIT - 2.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 7,447,000            |                        |                                                                                                 | Mapletree Industrial Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 8,547,586   |
|                                                                                                                                                             | 2,855,000            |                        |                                                                                                 | Mapletree Logistics Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 2,506,321   |
|                                                                                                                                                             | 1,121,387            |                        |                                                                                                 | Sabana Shari'ah Compliant Industrial Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 916,602     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 11,970,509  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Retail REIT - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 1,009,000            |                        |                                                                                                 | Fortune Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 801,776     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate Development - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 4,601,000            |                        |                                                                                                 | Kaisa Group Holdings, Ltd. *                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,460,113   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 14,232,398  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Software & Services - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Systems Software - 2.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 324,982              |                        |                                                                                                 | Microsoft Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 13,129,273  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 13,129,273  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Technology Hardware & Equipment - 3.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Computer Hardware - 3.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 28,101               |                        |                                                                                                 | Apple, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 16,582,122  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electronic Manufacturing Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 92,237               |                        |                                                                                                 | Global Display Co, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 978,854     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Office Electronics - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 29,975               |                        |                                                                                                 | Neopost SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 2,456,019   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 20,016,995  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Semiconductors & Semiconductor Equipment - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Semiconductors - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 252,000              |                        |                                                                                                 | MediaTek, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 3,950,042   |
|                                                                                                                                                             | 618,000              |                        |                                                                                                 | Transcend Information, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 2,039,636   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,989,678   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 5,989,678   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Telecommunication Services - 4.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Integrated Telecommunication Services - 4.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 31,430               |                        |                                                                                                 | AT&T, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,122,051   |
|                                                                                                                                                             | 62,400               |                        |                                                                                                 | Nippon Telegraph & Telephone Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 3,458,843   |
|                                                                                                                                                             | 383,247              |                        |                                                                                                 | Orange SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 6,224,347   |
|                                                                                                                                                             | 1,662,051            |                        |                                                                                                 | Telecom Corp of New Zealand, Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 3,972,708   |
|                                                                                                                                                             | 105,404              |                        |                                                                                                 | Verizon Communications, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 4,933,229   |
|                                                                                                                                                             | 116,635              |                        |                                                                                                 | Verizon Communications, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 5,450,354   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 25,161,532  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 25,161,532  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Utilities - 2.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electric Utilities - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 420,181              |                        |                                                                                                 | AES Tiete SA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 2,749,543   |
|                                                                                                                                                             | 48,315               |                        |                                                                                                 | American Electric Power Co., Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 2,599,830   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,349,373   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Multi-Utilities - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 144,088              |                        |                                                                                                 | CMS Energy Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 4,367,307   |
|                                                                                                                                                             | 189,511              |                        |                                                                                                 | GDF Suez                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 4,783,003   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 9,150,310   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 14,499,683  |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL COMMON STOCKS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $255,688,773)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 268,051,814 |
|                                                                                                                                                             | Principal Amount ($) |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                             |                 |                        |                                                                                                 | ASSET BACKED SECURITIES - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 2,466                | 2.93                        | BB+/B3                                                                                               | ABFC 2003-WMC1 Trust, Floating Rate Note, 3/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 2,352       |
|                                                                                                                                                             | 106,023              |                        | B+/B3                                                                                                | Accredited Mortgage Loan Trust 2003-3, 5.21%, 1/25/34 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 102,851     |
|                                                                                                                                                             | 9,478                | 6.50                        | BB+/Baa2                                                                                             | ACE Securities Corp. Manufactured Housing Trust Series 2003-MH1, Floating Rate Note, 8/15/30 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9,485     |
|                                                                                                                                                             | 26,429               |                        | B+/B1                                                                                                | Bayview Financial Mortgage Pass-Through Trust 2007-B, 6.407%, 8/28/47 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 26,414      |
|                                                                                                                                                             | 73,588               |                        | NR/Ba3                                                                                               | Bear Stearns Asset Backed Securities Trust, 8.41%, 10/25/29 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 74,534      |
|                                                                                                                                                             | 350,000              |                        | NR/NR                                                                                                | CAM Mortgage Trust 2014-1, 5.5%, 12/15/53 (Step) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 349,248     |
|                                                                                                                                                             | 100,000              |                        | BB/NR                                                                                                | CarNow Auto Receivables Trust 2012-1, 6.9%, 11/15/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 100,844     |
|                                                                                                                                                             | 100,000              |                        | CCC/C                                                                                                | Citicorp Residential Mortgage Trust Series 2006-2, 5.918%, 9/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 90,577      |
|                                                                                                                                                             | 30,344               |                        | B-/B1                                                                                                | Citicorp Residential Mortgage Trust Series 2006-3, 5.703%, 11/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 30,269      |
|                                                                                                                                                             | 205,000              |                        | A+/Baa1                                                                                              | Countrywide Asset-Backed Certificates, 5.25168%, 2/25/36 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 208,818     |
|                                                                                                                                                             | 67,061               | 5.24                        | BB+/Ba1                                                                                              | Countrywide Asset-Backed Certificates, Floating Rate Note, 1/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 68,774      |
|                                                                                                                                                             | 5,338                | 0.83                        | AAA/A1                                                                                               | Countrywide Asset-Backed Certificates, Floating Rate Note, 6/25/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 5,131       |
|                                                                                                                                                             | 79,926               | 7.78                        | NR/Caa2                                                                                              | GE Mortgage Services LLC, Floating Rate Note, 3/25/27                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 79,096      |
|                                                                                                                                                             | 210,000              | 5.00                        | NR/NR                                                                                                | GMAT 2013-1 Trust, Floating Rate Note, 8/25/53                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 201,106     |
|                                                                                                                                                             | 250,000              | 5.50                        | BBB/Baa1                                                                                             | Mastr Specialized Loan Trust, Floating Rate Note, 11/25/34 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 242,463     |
|                                                                                                                                                             | 200,000              |                        | NR/Ba2                                                                                               | Nations Equipment Finance Funding I LLC, 5.5%, 5/20/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 202,640     |
|                                                                                                                                                             | 250,000              |                        | NR/NR                                                                                                | Navitas Equipment Receivables LLC 2013-1, 5.82%, 6/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 249,323     |
|                                                                                                                                                             | 292,757              |                        | A+/Baa2                                                                                              | RAMP Series 2004-RZ1 Trust, 4.82%, 3/25/34 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 291,797     |
|                                                                                                                                                             | 97,571               |                        | CC/Caa2                                                                                              | RASC Series 2003-KS5 Trust, 4.46%, 7/25/33 (Step)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 93,830      |
|                                                                                                                                                             | 100,000              |                        | BBB/NR                                                                                               | SNAAC Auto Receivables Trust 2013-1, 4.56%, 4/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 105,009     |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $2,521,860)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 2,534,561   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | COLLATERALIZED MORTGAGE OBLIGATIONS - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 100,000              |                        | NR/NR                                                                                                | A10 Securitization 2013-1 LLC, 4.7%, 11/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 99,406      |
|                                                                                                                                                             | 100,000              |                        | NR/NR                                                                                                | A10 Securitization 2013-1 LLC, 6.41%, 11/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 99,424      |
|                                                                                                                                                             | 1,250,000            | 5.72                        | B-/B3                                                                                                | Banc of America Commercial Mortgage Trust 2007-3, Floating Rate Note, 6/10/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 1,286,684 |
|                                                                                                                                                             | 35,600               | 6.33                        | BBB/NR                                                                                               | Banc of America Merrill Lynch Commercial Mortgage, Inc., Floating Rate Note, 9/10/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 36,570    |
|                                                                                                                                                             | 11,349               | 5.12                        | BBB+/NR                                                                                              | Banc of America Mortgage 2005-H Trust, Floating Rate Note, 9/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 11,314      |
|                                                                                                                                                             | 200,000              | 5.58                        | BBB/NR                                                                                               | Bear Stearns Commercial Mortgage Securities Trust 2004-TOP16, Floating Rate Note, 2/13/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 190,488   |
|                                                                                                                                                             | 100,000              | 5.21                        | NR/Ba1                                                                                               | Bear Stearns Commercial Mortgage Securities Trust 2005-PWR7, Floating Rate Note, 2/11/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 101,058   |
|                                                                                                                                                             | 767,493              |                        | BB/NR                                                                                                | Bear Stearns Commercial Mortgage Securities Trust 2006-PWR14, 5.273%, 12/11/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 772,162   |
|                                                                                                                                                             | 22,475               | 5.69                        | B-/NR                                                                                                | CHL Mortgage Pass-Through Trust 2002-32, Floating Rate Note, 1/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 22,892      |
|                                                                                                                                                             | 50,000               | 5.97                        | NR/Baa3                                                                                              | Citigroup Commercial Mortgage Trust 2006-C4, Floating Rate Note, 3/15/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 52,046      |
|                                                                                                                                                             | 150,000              | 4.50                        | BB-/NR                                                                                               | COMM 2013-FL3 Mortgage Trust, Floating Rate Note, 10/13/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 150,223     |
|                                                                                                                                                             | 100,000              |                        | BBB/B1                                                                                               | Credit Suisse First Boston Mortgage Securities Corp., 4.877%, 4/15/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 101,484     |
|                                                                                                                                                             | 25,687               |                        | B-/NR                                                                                                | Credit Suisse First Boston Mortgage Securities Corp., 5.5%, 6/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 25,634      |
|                                                                                                                                                             | 100,000              | 5.14                        | B-/B3                                                                                                | Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 10/15/39 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 89,847    |
|                                                                                                                                                             | 855,000              | 5.10                        | BBB-/NR                                                                                              | Credit Suisse First Boston Mortgage Securities Corp., Floating Rate Note, 8/15/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 872,855     |
|                                                                                                                                                             | 100,000              | 5.63                        | NR/A2                                                                                                | DBUBS 2011-LC2 Mortgage Trust, Floating Rate Note, 7/10/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 110,816     |
|                                                                                                                                                             | 200,000              | 5.15                        | NR/NR                                                                                                | Del Coronado Trust 2013-DEL MZ, Floating Rate Note, 3/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 200,520     |
|                                                                                                                                                             | 33,796               |                        | NR/NR                                                                                                | Extended Stay America Trust 2013-ESH MZ, 7.625%, 12/5/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 33,868      |
|                                                                                                                                                             | 50,000               | 4.30                        | NR/Baa2                                                                                              | Federal Home Loan Mortgage Corp., Floating Rate Note, 9/25/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 50,702      |
|                                                                                                                                                             | 198,078              |                        | AA+/Aaa                                                                                              | Federal National Mortgage Association REMICS, 3.5%, 1/25/29 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 12,863      |
|                                                                                                                                                             | 100,000              | 4.50                        | NR/A3                                                                                                | FREMF Mortgage Trust 2011-K12, Floating Rate Note, 1/25/46 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 104,860     |
|                                                                                                                                                             | 50,000               | 3.89                        | NR/NR                                                                                                | FREMF Mortgage Trust 2012-K708, Floating Rate Note, 2/25/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 49,860      |
|                                                                                                                                                             | 10,000               | 3.95                        | AA+/Aaa                                                                                              | FREMF Mortgage Trust Class C, Floating Rate Note, 6/25/47 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 9,901       |
|                                                                                                                                                             | 250,000              | 5.33                        | BBB-/NR                                                                                              | GE Capital Commercial Mortgage Corp., Floating Rate Note, 7/10/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 254,463     |
|                                                                                                                                                             | 91,091               |                        | B-/Ba3                                                                                               | Global Mortgage Securitization, Ltd., 5.25%, 11/25/32                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 87,535      |
|                                                                                                                                                             | 231,638              |                        | CCC/B3                                                                                               | Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 203,590     |
|                                                                                                                                                             | 92,042               |                        | CCC/Caa3                                                                                             | Global Mortgage Securitization, Ltd., 5.25%, 11/25/32 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 77,775      |
|                                                                                                                                                             | 47,424               |                        | CCC/Caa3                                                                                             | Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 36,960      |
|                                                                                                                                                             | 44,175               | 6.49                        | AA+/Aaa                                                                                              | Government National Mortgage Association REMICS, Floating Rate Note, 6/20/38 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 4,901     |
|                                                                                                                                                             | 145,244              | 1.03                        | AA+/Aaa                                                                                              | Government National Mortgage Association, Floating Rate Note, 2/16/53 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 11,488      |
|                                                                                                                                                             | 145,102              | 1.05                        | AA+/Aaa                                                                                              | Government National Mortgage Association, Floating Rate Note, 3/16/53 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 11,027      |
|                                                                                                                                                             | 191,515              | 1.08                        | AA+/Aaa                                                                                              | Government National Mortgage Association, Floating Rate Note, 8/16/52 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 13,119      |
|                                                                                                                                                             | 144,586              | 1.07                        | AA+/Aaa                                                                                              | Government National Mortgage Association, Floating Rate Note, 9/16/52 (c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 11,815      |
|                                                                                                                                                             | 100,000              | 6.04                        | BB+/Ba2                                                                                              | GS Mortgage Securities Corp. II Commercial Mortgage Pass Through Certificates Series 2004-GG2, Floating Rate Note, 8/10/38                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 99,948    |
|                                                                                                                                                             | 30,000               | 5.83                        | NR/Baa3                                                                                              | GS Mortgage Securities Trust 2012-GC6, Floating Rate Note, 1/10/45 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 30,911      |
|                                                                                                                                                             | 225,000              | 6.21                        | B-/NR                                                                                                | JP Morgan Chase Commercial Mortgage Securities Trust 2007-LDP12, Floating Rate Note, 2/15/51                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 221,630   |
|                                                                                                                                                             | 100,000              | 3.11                        | BB/NR                                                                                                | JP Morgan Chase Commercial Mortgage Securities Trust 2013-FL3, Floating Rate Note, 4/15/28 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 99,991    |
|                                                                                                                                                             | 124,439              | 5.28                        | BB/NR                                                                                                | LB-UBS Commercial Mortgage Trust 2006-C1, Floating Rate Note, 2/15/41                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 127,526     |
|                                                                                                                                                             | 167,255              | 2.40                        | BB+/Ba1                                                                                              | MASTR Adjustable Rate Mortgages Trust 2003-6, Floating Rate Note, 12/25/33                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 165,280     |
|                                                                                                                                                             | 45,384               | 5.30                        | B-/B3                                                                                                | MASTR Adjustable Rate Mortgages Trust, Floating Rate Note, 1/25/35                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 45,859      |
|                                                                                                                                                             | 71,229               |                        | B-/NR                                                                                                | MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 74,101      |
|                                                                                                                                                             | 105,694              |                        | D/Caa3                                                                                               | Merrill Lynch Mortgage Investors Trust Series 2006-AF1, 5.75%, 8/25/36                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 81,034      |
|                                                                                                                                                             | 46,252               | 5.62                        | A+/Baa3                                                                                              | Merrill Lynch Mortgage Investors Trust Series MLCC 2007-1, Floating Rate Note, 1/25/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 46,592    |
|                                                                                                                                                             | 50,000               |                        | BB+/NR                                                                                               | Morgan Stanley Capital I Trust 2007-IQ13, 5.406%, 3/15/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 54,708      |
|                                                                                                                                                             | 100,000              | 6.11                        | B/NR                                                                                                 | Morgan Stanley Capital I Trust 2007-IQ15, Floating Rate Note, 6/11/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 110,246     |
|                                                                                                                                                             | 71,270               | 1.55                        | B-/Ba3                                                                                               | RESI Finance LP, Floating Rate Note, 9/10/35 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 62,044      |
|                                                                                                                                                             | 178,976              |                        | BB+/Baa2                                                                                             | Spirit Master Funding LLC, 5.74%, 3/20/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 188,382     |
|                                                                                                                                                             | 100,000              | 5.30                        | BBB/NR                                                                                               | Springleaf Mortgage Loan Trust 2012-3, Floating Rate Note, 12/25/59 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 103,511     |
|                                                                                                                                                             | 250,000              | 5.58                        | BB/NR                                                                                                | Springleaf Mortgage Loan Trust, Floating Rate Note, 6/25/58 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 249,984     |
|                                                                                                                                                             | 25,000               |                        | BB/B1                                                                                                | TimberStar Trust 1, 7.5296%, 10/15/36 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 25,511      |
|                                                                                                                                                             | 84,000               | 5.66                        | BB-/Ba3                                                                                              | Wachovia Bank Commercial Mortgage Trust Series 2006-C24, Floating Rate Note, 3/15/45                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 86,332    |
|                                                                                                                                                             | 25,000               | 6.16                        | B-/B1                                                                                                | Wachovia Bank Commercial Mortgage Trust Series 2007-C34, Floating Rate Note, 5/15/46                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 25,998    |
|                                                                                                                                                             | 50,000               | 5.65                        | NR/Baa3                                                                                              | WF-RBS Commercial Mortgage Trust 2011-C2, Floating Rate Note, 2/15/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 52,463    |
|                                                                                                                                                             | 100,000              | 5.34                        | NR/A2                                                                                                | WFRBS Commercial Mortgage Trust 2011-C3, Floating Rate Note, 3/15/44 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 109,012   |
|                                                                                                                                                             | 100,000              | 4.50                        | BBB-/NR                                                                                              | WFRBS Commercial Mortgage Trust 2013-C12, Floating Rate Note, 3/15/48 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 92,502    |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $7,221,555)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 7,351,715   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | CORPORATE BONDS - 35.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Energy - 8.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Drilling - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 630,000              |                        | B/B3                                                                                                 | Hercules Offshore, Inc., 6.75%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 609,525     |
|                                                                                                                                                             | 700,000              |                        | B/B3                                                                                                 | Hercules Offshore, Inc., 7.5%, 10/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 705,250     |
|                                                                                                                                                             | 270,000              |                        | B/B3                                                                                                 | Hercules Offshore, Inc., 8.75%, 7/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 290,925     |
|                                                                                                                                                             | 700,000              |                        | NR/NR                                                                                                | North Atlantic Drilling, Ltd., 6.25%, 2/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 670,250     |
|                                                                                                                                                             | 895,000              |                        | CCC+/Caa1                                                                                            | Ocean Rig UDW, Inc., 7.25%, 4/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 854,725     |
|                                                                                                                                                             | 175,000              |                        | B+/B1                                                                                                | Parker Drilling Co., 6.75%, 7/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 181,125     |
|                                                                                                                                                             | 170,000              |                        | B+/B1                                                                                                | Parker Drilling Co., 7.5%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 181,900     |
|                                                                                                                                                             | 375,000              |                        | B+/B2                                                                                                | Pioneer Energy Services Corp., 6.125%, 3/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 384,375     |
|                                                                                                                                                             | 185,000              |                        | B+/B1                                                                                                | Shelf Drilling Holdings, Ltd., 8.625%, 11/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 199,338     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,077,413   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Equipment & Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 250,000              |                        | B+/B2                                                                                                | Basic Energy Services, Inc., 7.75%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 274,062     |
|                                                                                                                                                             | 225,000              |                        | BB-/Ba3                                                                                              | Bristow Group, Inc., 6.25%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 241,312     |
|                                                                                                                                                             | 510,000              |                        | BB-/B1                                                                                               | Calfrac Holdings LP, 7.5%, 12/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 539,325     |
|                                                                                                                                                             | 700,000              |                        | B/B1                                                                                                 | Exterran Partners LP, 6.0%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 700,000     |
|                                                                                                                                                             | 325,000              |                        | B/Caa1                                                                                               | Forbes Energy Services, Ltd., 9.0%, 6/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 332,312     |
|                                                                                                                                                             | 500,000              |                        | BB/Ba3                                                                                               | Forum Energy Technologies, Inc., 6.25%, 10/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 531,250     |
|                                                                                                                                                             | 545,000              |                        | B-/B2                                                                                                | FTS International, Inc., 6.25%, 5/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 551,812     |
|                                                                                                                                                             | 600,000              |                        | B-/B3                                                                                                | Hiland Partners LP, 7.25%, 10/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 654,000     |
|                                                                                                                                                             | 355,000              |                        | BB-/B1                                                                                               | Key Energy Services, Inc., 6.75%, 3/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 374,525     |
|                                                                                                                                                             | 860,000              |                        | BB/B1                                                                                                | McDermott International, Inc., 8.0%, 5/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 866,450     |
|                                                                                                                                                             | 400,000              |                        | B/B3                                                                                                 | Seitel, Inc., 9.5%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 416,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,481,048   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Integrated Oil & Gas - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 745,000              |                        | CCC+/B3                                                                                              | Athlon Holdings LP, 6.0%, 5/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 753,381     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Exploration & Production - 5.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 200,000              |                        | BB-/B1                                                                                               | Antero Resources Finance Corp., 5.375%, 11/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 204,500     |
|                                                                                                                                                             | 235,000              |                        | BB-/B1                                                                                               | Antero Resources Finance Corp., 6.0%, 12/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 251,450     |
|                                                                                                                                                             | 1,580,000            |                        | B-/B3                                                                                                | Approach Resources, Inc., 7.0%, 6/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 1,639,250   |
|                                                                                                                                                             | 130,000              |                        | CCC+/B3                                                                                              | Athlon Holdings LP, 7.375%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 140,400     |
|                                                                                                                                                             | 300,000              |                        | CCC+/Caa1                                                                                            | Aurora USA Oil & Gas, Inc., 7.5%, 4/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 341,550     |
|                                                                                                                                                             | 700,000              |                        | BB-/B1                                                                                               | Berry Petroleum Co., LLC, 6.375%, 9/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 717,500     |
|                                                                                                                                                             | 1,185,000            |                        | B-/B3                                                                                                | Bonanza Creek Energy, Inc., 6.75%, 4/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,267,950   |
|                                                                                                                                                             | 300,000              |                        | B-/B3                                                                                                | BreitBurn Energy Partners LP, 7.875%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 324,750     |
|                                                                                                                                                             | 125,000              |                        | B-/B3                                                                                                | Carrizo Oil & Gas, Inc., 8.625%, 10/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 133,750     |
|                                                                                                                                                             | 600,000              |                        | B-/B3                                                                                                | Chaparral Energy, Inc., 7.625%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 639,000     |
|                                                                                                                                                             | 400,000              |                        | B-/B3                                                                                                | Comstock Resources, Inc., 7.75%, 4/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 428,000     |
|                                                                                                                                                             | 300,000              |                        | BB/B1                                                                                                | Denbury Resources, Inc., 4.625%, 7/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 285,375     |
|                                                                                                                                                             | 1,125,000            |                        | BB/B1                                                                                                | Denbury Resources, Inc., 5.5%, 5/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 1,137,656   |
|                                                                                                                                                             | 845,000              |                        | B+/B3                                                                                                | Energy XXI Gulf Coast, Inc., 7.5%, 12/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 893,588     |
|                                                                                                                                                             | 100,000              |                        | B/B2                                                                                                 | EP Energy LLC, 9.375%, 5/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 115,250     |
|                                                                                                                                                             | 50,000               |                        | B-/B3                                                                                                | EPL Oil & Gas, Inc., 8.25%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 54,000      |
|                                                                                                                                                             | 275,000              |                        | CCC/Caa1                                                                                             | Forest Oil Corp., 7.5%, 9/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 237,875     |
|                                                                                                                                                             | 600,000              |                        | CCC/Caa1                                                                                             | Goodrich Petroleum Corp., 8.875%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 628,500     |
|                                                                                                                                                             | 100,000              |                        | B-/B3                                                                                                | Gulfport Energy Corp., 7.75%, 11/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 108,500     |
|                                                                                                                                                             | 175,000              |                        | CCC+/Caa1                                                                                            | Halcon Resources Corp., 8.875%, 5/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 181,344     |
|                                                                                                                                                             | 220,000              |                        | CCC+/Caa1                                                                                            | Halcon Resources Corp., 9.25%, 2/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 231,000     |
|                                                                                                                                                             | 315,000              |                        | CCC+/Caa1                                                                                            | Halcon Resources Corp., 9.75%, 7/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 337,050     |
|                                                                                                                                                             | 525,000              |                        | CCC+/Caa1                                                                                            | Halcon Resources Corp., 9.75%, 7/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 560,438     |
|                                                                                                                                                             | 250,000              |                        | B/B3                                                                                                 | Kodiak Oil & Gas Corp., 5.5%, 1/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 257,500     |
|                                                                                                                                                             | 150,000              |                        | B-/NR                                                                                                | Legacy Reserves LP, 6.625%, 12/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 149,250     |
|                                                                                                                                                             | 160,000              |                        | B-/Caa1                                                                                              | Lightstream Resources, Ltd., 8.625%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 163,400     |
|                                                                                                                                                             | 2,100,000            |                        | B+/B1                                                                                                | Linn Energy LLC, 7.0%, 11/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 2,170,875   |
|                                                                                                                                                             | 390,000              |                        | B-/Caa1                                                                                              | Memorial Production Partners LP, 7.625%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 410,962     |
|                                                                                                                                                             | 175,000              |                        | CCC+/Caa1                                                                                            | Midstates Petroleum Co., Inc., 10.75%, 10/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 188,781     |
|                                                                                                                                                             | 200,000              |                        | CCC+/Caa1                                                                                            | Midstates Petroleum Co., Inc., 9.25%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 204,500     |
|                                                                                                                                                             | 400,000              |                        | B-/Caa1                                                                                              | Northern Oil and Gas, Inc., 8.0%, 6/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 425,000     |
|                                                                                                                                                             | 250,000              |                        | B+/B2                                                                                                | Oasis Petroleum, Inc., 6.875%, 3/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 271,250     |
|                                                                                                                                                             | 1,570,000            |                        | CCC/Caa2                                                                                             | Parsley Energy LLC, 7.5%, 2/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 1,640,650   |
|                                                                                                                                                             | 200,000              |                        | B-/B3                                                                                                | PDC Energy, Inc., 7.75%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 219,500     |
|                                                                                                                                                             | 200,000              |                        | B-/Caa1                                                                                              | Penn Virginia Corp., 7.25%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 210,000     |
|                                                                                                                                                             | 650,000              |                        | B-/Caa1                                                                                              | Penn Virginia Corp., 8.5%, 5/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 721,500     |
|                                                                                                                                                             | 650,000              |                        | B-/Caa1                                                                                              | QR Energy LP, 9.25%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 695,500     |
|                                                                                                                                                             | 100,000              |                        | CCC+/B3                                                                                              | Resolute Energy Corp., 8.5%, 5/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 104,500     |
|                                                                                                                                                             | 785,000              |                        | CCC+/B3                                                                                              | Rice Energy, Inc., 6.25%, 5/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 785,981     |
|                                                                                                                                                             | 400,000              |                        | B-/B3                                                                                                | RKI Exploration & Production LLC, 8.5%, 8/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 434,000     |
|                                                                                                                                                             | 745,000              |                        | BB-/B2                                                                                               | Rosetta Resources, Inc., 5.625%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 758,038     |
|                                                                                                                                                             | 675,000              |                        | BB-/B2                                                                                               | Rosetta Resources, Inc., 5.875%, 6/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 688,500     |
|                                                                                                                                                             | 1,000,000            |                        | CCC+/B3                                                                                              | Samson Investment Co., 10.5%, 2/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 1,055,000   |
|                                                                                                                                                             | 735,000              |                        | B-/B3                                                                                                | Sanchez Energy Corp., 7.75%, 6/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 786,450     |
|                                                                                                                                                             | 50,000               |                        | B-/B2                                                                                                | SandRidge Energy, Inc., 7.5%, 2/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 53,000      |
|                                                                                                                                                             | 380,000              |                        | B-/B2                                                                                                | SandRidge Energy, Inc., 7.5%, 3/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 403,750     |
|                                                                                                                                                             | 220,000              |                        | B-/B2                                                                                                | SandRidge Energy, Inc., 8.125%, 10/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 238,150     |
|                                                                                                                                                             | 300,000              |                        | BB/Ba3                                                                                               | SM Energy Co., 5.0%, 1/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 294,000     |
|                                                                                                                                                             | 595,000              |                        | B-/B3                                                                                                | Stone Energy Corp., 7.5%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 645,575     |
|                                                                                                                                                             | 1,345,000            |                        | B+/B3                                                                                                | Swift Energy Co., 7.875%, 3/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 1,338,275   |
|                                                                                                                                                             | 355,000              |                        | B+/B3                                                                                                | Swift Energy Co., 8.875%, 1/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 372,750     |
|                                                                                                                                                             | 200,000              |                        | CCC+/Caa1                                                                                            | Talos Production LLC, 9.75%, 2/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 210,500     |
|                                                                                                                                                             | 230,000              |                        | B/B3                                                                                                 | Vanguard Natural Resources LLC, 7.875%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 247,825     |
|                                                                                                                                                             | 500,000              |                        | B-/B3                                                                                                | W&T Offshore, Inc., 8.5%, 6/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 540,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 27,543,638  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Refining & Marketing - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 2,285,000            |                        | B+/B2                                                                                                | Calumet Specialty Products Partners LP, 6.5%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 2,279,288   |
|                                                                                                                                                             | 170,000              |                        | B+/B2                                                                                                | Calumet Specialty Products Partners LP, 7.625%, 1/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 178,500     |
|                                                                                                                                                             | 1,000,000            |                        | BB/Ba3                                                                                               | Murphy Oil USA, Inc., 6.0%, 8/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,032,500   |
|                                                                                                                                                             | 100,000              |                        | BBB/Baa2                                                                                             | Valero Energy Corp., 6.625%, 6/15/37                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 122,574     |
|                                                                                                                                                             | 1,650,000            |                        | B+/B3                                                                                                | Western Refining, Inc., 6.25%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 1,716,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,328,862   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Storage & Transportation - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 95,000               |                        | B+/NR                                                                                                | Atlas Pipeline Partners LP, 4.75%, 11/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 90,250      |
|                                                                                                                                                             | 340,000              |                        | BB/B1                                                                                                | Crestwood Midstream Partners LP, 6.0%, 12/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 357,000     |
|                                                                                                                                                             | 385,000              |                        | BB/B1                                                                                                | Crestwood Midstream Partners LP, 6.125%, 3/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 402,325     |
|                                                                                                                                                             | 300,000              | 5.85                        | BB/Baa3                                                                                              | DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 283,500     |
|                                                                                                                                                             | 605,000              |                        | B/B1                                                                                                 | Genesis Energy LP, 5.75%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 629,200     |
|                                                                                                                                                             | 100,000              |                        | BBB/Baa2                                                                                             | Kinder Morgan Energy Partners LP, 5.0%, 8/15/42                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 97,326      |
|                                                                                                                                                             | 350,000              |                        | BB/B1                                                                                                | Penn Virginia Resource Partners LP, 6.5%, 5/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 376,250     |
|                                                                                                                                                             | 290,000              |                        | BB+/Ba3                                                                                              | Sabine Pass Liquefaction LLC, 5.625%, 2/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 299,425     |
|                                                                                                                                                             | 215,000              |                        | BB/Ba3                                                                                               | Targa Resources Partners LP, 4.25%, 11/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 201,025     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,736,301   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Coal & Consumable Fuels - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 950,000              |                        | B-/B3                                                                                                | Alpha Natural Resources, Inc., 6.0%, 6/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 722,000     |
|                                                                                                                                                             | 1,095,000            |                        | B+/B1                                                                                                | SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 1,160,700   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,882,700   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 47,803,343  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Materials - 3.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Commodity Chemicals - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 1,210,000            |                        | BB/Ba3                                                                                               | Axiall Corp., 4.875%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,182,775   |
|                                                                                                                                                             | 1,600,000            |                        | CCC+/Caa1                                                                                            | Hexion US Finance Corp., 9.0%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 1,550,000   |
|                                                                                                                                                             | 950,000              |                        | BB-/B2                                                                                               | Rain CII Carbon LLC, 8.0%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 995,125     |
|                                                                                                                                                             | 800,000              |                        | BB-/B2                                                                                               | Tronox Finance LLC, 6.375%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 816,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,543,900   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Specialty Chemicals - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 150,000              |                        | BB-/B1                                                                                               | Chemtura Corp., 5.75%, 7/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 155,625     |
|                                                                                                                                                             | 1,245,000            |                        | B/B1                                                                                                 | Rentech Nitrogen Partners LP, 6.5%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 1,226,325   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,381,950   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Metal & Glass Containers - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 1,000,000            |                        | CCC+/Caa1                                                                                            | Ardagh Packaging Finance Plc, 6.75%, 1/31/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,042,500   |
|                                                                                                                                                             | 210,000              |                        | BB+/Ba1                                                                                              | Ball Corp., 4.0%, 11/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 194,775     |
|                                                                                                                                                             | 1,000,000            |                        | BB/Ba2                                                                                               | Crown Americas LLC, 4.5%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 955,000     |
|                                                                                                                                                             | 100,000              |                        | CCC+/Caa2                                                                                            | Reynolds Group Issuer, Inc., 9.0%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 106,750     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,299,025   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Paper Packaging - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 200,000              |                        | B-/NR                                                                                                | Exopack Holding Corp., 10.0%, 6/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 215,000     |
|                                                                                                                                                             | 800,000              |                        | B-/Caa2                                                                                              | Exopack Holdings SA, 7.875%, 11/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 848,000     |
|                                                                                                                                                             | 605,000              |                        | BB/B1                                                                                                | Sealed Air Corp., 6.875%, 7/15/33 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 611,050     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,674,050   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Metals & Mining - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 100,000              |                        | D/NR                                                                                                 | Midwest Vanadium Pty, Ltd., 11.5%, 2/15/18 (144A) (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 53,000      |
|                                                                                                                                                             | 10,000               |                        | NR/NR                                                                                                | Mirabela Nickel, Ltd., 3.5%, 6/30/14 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 9,750       |
|                                                                                                                                                             | 100,000              |                        | NR/NR                                                                                                | Mirabela Nickel, Ltd., 8.75%, 4/15/18 (144A) (e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 24,000      |
|                                                                                                                                                             | 50,000               |                        | B/Caa1                                                                                               | Prince Mineral Holding Corp., 11.5%, 12/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 56,125      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 142,875     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Steel - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 150,000              |                        | B+/B3                                                                                                | APERAM, 7.75%, 4/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 158,625     |
|                                                                                                                                                             | 500,000              |                        | BB+/Ba2                                                                                              | Commercial Metals Co., 4.875%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 480,000     |
|                                                                                                                                                             | 725,000              |                        | B-/Caa1                                                                                              | JMC Steel Group, Inc., 8.25%, 3/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 732,250     |
|                                                                                                                                                             | 200,000              |                        | NR/Caa2                                                                                              | Metinvest BV, 8.75%, 2/14/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 172,534     |
|                                                                                                                                                             | 100,000              |                        | CCC+/NR                                                                                              | Ryerson, Inc., 9.0%, 10/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 107,375     |
|                                                                                                                                                             | 665,000              |                        | NR/NR                                                                                                | SunCoke Energy Partners LP, 7.375%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 704,900     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,355,684   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Forest Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 1,225,000            |                        | B-/B3                                                                                                | Millar Western Forest Products, Ltd., 8.5%, 4/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,316,875   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Paper Products - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 435,000              |                        | CCC+/B2                                                                                              | Appvion, Inc., 9.0%, 6/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 441,525     |
|                                                                                                                                                             | 1,215,000            |                        | BB/Ba3                                                                                               | Neenah Paper, Inc., 5.25%, 5/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 1,211,962   |
|                                                                                                                                                             | 960,000              |                        | BB-/Ba3                                                                                              | Resolute Forest Products, Inc., 5.875%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 933,600     |
|                                                                                                                                                             | 200,000              |                        | B-/Caa1                                                                                              | Unifrax I LLC, 7.5%, 2/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 211,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,798,087   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Materials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 16,512,446  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Capital Goods - 3.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Aerospace & Defense - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 960,000              |                        | CCC+/Caa1                                                                                            | Accudyne Industries Borrower, 7.75%, 12/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,041,600   |
|                                                                                                                                                             | 370,000              |                        | BB/B1                                                                                                | DigitalGlobe, Inc., 5.25%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 360,750     |
|                                                                                                                                                             | 50,000               |                        | B-/B2                                                                                                | DynCorp International, Inc., 10.375%, 7/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 52,875      |
|                                                                                                                                                             | 425,000              |                        | B+/Ba3                                                                                               | Spirit AeroSystems, Inc., 5.25%, 3/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 430,844     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,886,069   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Building Products - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 100,000              |                        | BB-/NR                                                                                               | Gibraltar Industries, Inc., 6.25%, 2/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 106,000     |
|                                                                                                                                                             | 1,255,000            |                        | BB-/B1                                                                                               | Griffon Corp., 5.25%, 3/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 1,239,312   |
|                                                                                                                                                             | 1,050,000            |                        | BBB-/Ba3                                                                                             | Masco Corp., 5.95%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 1,144,500   |
|                                                                                                                                                             | 100,000              |                        | BBB-/Ba3                                                                                             | Masco Corp., 7.125%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 116,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,606,062   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electrical Components & Equipment - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 1,090,000            |                        | B+/B2                                                                                                | General Cable Corp., 7.0%, 10/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,092,725   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Industrial Conglomerates - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 225,000              |                        | B+/B2                                                                                                | JB Poindexter & Co., Inc., 9.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 246,938     |
|                                                                                                                                                             | 1,865,000            |                        | B/B2                                                                                                 | Waterjet Holdings, Inc., 7.625%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 1,986,225   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,233,163   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Construction & Farm Machinery & Heavy Trucks - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 350,000              |                        | B/B2                                                                                                 | Commercial Vehicle Group, Inc., 7.875%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 362,250     |
|                                                                                                                                                             | 100,000              |                        | A/A3                                                                                                 | Cummins, Inc., 5.65%, 3/1/98                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 111,030     |
|                                                                                                                                                             | 645,000              |                        | B-/B3                                                                                                | Meritor, Inc., 6.25%, 2/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 643,388     |
|                                                                                                                                                             | 375,000              |                        | CCC-/B3                                                                                              | Navistar International Corp., 8.25%, 11/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 381,562     |
|                                                                                                                                                             | 500,000              |                        | B+/B1                                                                                                | Titan International, Inc., 6.875%, 10/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 530,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,028,230   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Industrial Machinery - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 1,000,000            |                        | B-/Caa1                                                                                              | BC Mountain LLC, 7.0%, 2/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 972,500     |
|                                                                                                                                                             | 185,000              |                        | B/B2                                                                                                 | Boart Longyear Management Pty, Ltd., 10.0%, 10/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 193,325     |
|                                                                                                                                                             | 340,000              |                        | CCC+/Caa2                                                                                            | Boart Longyear Management Pty, Ltd., 7.0%, 4/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 258,400     |
|                                                                                                                                                             | 100,000              |                        | B/NR                                                                                                 | Cleaver-Brooks, Inc., 8.75%, 12/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 110,750     |
|                                                                                                                                                             | 1,745,000            |                        | B-/Caa1                                                                                              | Gardner Denver, Inc., 6.875%, 8/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 1,790,806   |
|                                                                                                                                                             | 80,000               |                        | B/B1                                                                                                 | Mcron Finance Sub LLC, 8.375%, 5/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 88,200      |
|                                                                                                                                                             | 1,130,000            |                        | B/B3                                                                                                 | Xerium Technologies, Inc., 8.875%, 6/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,209,100   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,623,081   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Trading Companies & Distributors - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 1,290,000            |                        | B/B2                                                                                                 | Avis Budget Car Rental LLC, 5.5%, 4/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 1,302,900   |
|                                                                                                                                                             | 150,000              |                        | B+/B3                                                                                                | H&E Equipment Services, Inc., 7.0%, 9/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 165,000     |
|                                                                                                                                                             | 100,000              |                        | B-/B3                                                                                                | TRAC Intermodal LLC, 11.0%, 8/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 114,375     |
|                                                                                                                                                             | 640,000              |                        | BB-/B2                                                                                               | United Rentals North America, Inc., 5.75%, 11/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 664,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,246,275   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 16,715,605  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Commercial Services & Supplies - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Commercial Printing - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 160,000              |                        | B-/Caa1                                                                                              | Mustang Merger Corp., 8.5%, 8/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 175,200     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Environmental & Facilities Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 380,000              |                        | B/Ba3                                                                                                | Covanta Holding Corp., 5.875%, 3/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 387,777     |
|                                                                                                                                                             | 100,000              |                        | B-/Caa2                                                                                              | Liberty Tire Recycling LLC, 11.0%, 10/1/16 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 97,000      |
|                                                                                                                                                             | 500,000              |                        | B/B3                                                                                                 | Safway Group Holding LLC, 7.0%, 5/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 530,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,014,777   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Support Services - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 1,025,000            |                        | B/B1                                                                                                 | Iron Mountain, Inc., 5.75%, 8/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,012,188   |
|                                                                                                                                                             | 300,000              |                        | BB-/Ba1                                                                                              | Iron Mountain, Inc., 6.0%, 8/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 318,750     |
|                                                                                                                                                             | 2,580,000            |                        | B/Caa2                                                                                               | NANA Development Corp., 9.5%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 2,618,700   |
|                                                                                                                                                             | 155,000              |                        | B-/B3                                                                                                | TMS International Corp., 7.625%, 10/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 165,462     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,115,100   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Security & Alarm Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 1,700,000            |                        | B-/Caa1                                                                                              | Garda World Security Corp., 7.25%, 11/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,791,375   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 7,096,452   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Transportation - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Airlines - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 100,000              |                        | B-/NR                                                                                                | Gol Finance SA, 9.25%, 7/20/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 99,500      |
|                                                                                                                                                             | 400,000              |                        | NR/NR                                                                                                | Intrepid Aviation Group Holdings LLC, 6.875%, 2/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 415,000     |
|                                                                                                                                                             | 400,000              |                        | BB+/NR                                                                                               | United Airlines 2014-1 Class B Pass Through Trust, 4.75%, 4/11/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 403,752     |
|                                                                                                                                                             | 210,000              |                        | B/B2                                                                                                 | United Continental Holdings, Inc., 6.0%, 12/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 217,875     |
|                                                                                                                                                             | 150,000              |                        | BB/Ba2                                                                                               | US Airways 2013-1 Class B Pass Through Trust, 5.375%, 11/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 153,750     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,289,877   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Railroads - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             | 1,015,000            |                        | B/B3                                                                                                 | Florida East Coast Holdings Corp., 6.75%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,042,912   |
|                                                                                                                                                             | 1,330,000            |                        | CCC/Caa3                                                                                             | Florida East Coast Holdings Corp., 9.75%, 5/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 1,369,900   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,412,812   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Trucking - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 760,000              |                        | B-/B2                                                                                                | Jack Cooper Holdings Corp., 9.25%, 6/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 839,800     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Airport Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 153,120              |                        | CCC+/Caa1                                                                                            | Aeropuertos Argentina 2000 SA, 10.75%, 12/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 153,311     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Transportation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,695,800   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Automobiles & Components - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Auto Parts & Equipment - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 760,000              |                        | BB+/B2                                                                                               | Dana Holding Corp., 6.0%, 9/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 799,900     |
|                                                                                                                                                             | 640,000              |                        | B-/B3                                                                                                | Meritor, Inc., 6.75%, 6/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 676,800     |
|                                                                                                                                                             | 200,000              |                        | B/B1                                                                                                 | Schaeffler Holding Finance BV, 6.875%, 8/15/18 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 212,250     |
|                                                                                                                                                             | 170,000              |                        | B+/B2                                                                                                | Stackpole International Intermediate, 7.75%, 10/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 181,900     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,870,850   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,870,850   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Durables & Apparel - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Home Furnishings - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 200,000              |                        | B/B2                                                                                                 | SIWF Merger Sub, Inc., 6.25%, 6/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 208,000     |
|                                                                                                                                                             | 325,000              |                        | B+/B3                                                                                                | Tempur Sealy International, Inc., 6.875%, 12/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 354,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 562,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Homebuilding - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 250,000              |                        | BB-/B2                                                                                               | Brookfield Residential Properties, Inc., 6.125%, 7/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 255,625     |
|                                                                                                                                                             | 300,000              |                        | BB/Ba1                                                                                               | DR Horton, Inc., 5.75%, 8/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 318,750     |
|                                                                                                                                                             | 150,000              |                        | B/B2                                                                                                 | KB Home, 7.0%, 12/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 160,875     |
|                                                                                                                                                             | 50,000               |                        | B/B2                                                                                                 | KB Home, Inc., 8.0%, 3/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 56,625      |
|                                                                                                                                                             | 135,000              |                        | BB-/Ba3                                                                                              | Lennar Corp., 4.75%, 11/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 131,625     |
|                                                                                                                                                             | 170,000              |                        | B+/Ba3                                                                                               | Meritage Homes Corp., 7.0%, 4/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 186,362     |
|                                                                                                                                                             | 950,000              |                        | B/B2                                                                                                 | Rialto Holdings LLC, 7.0%, 12/1/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 990,375     |
|                                                                                                                                                             | 505,000              |                        | B+/B2                                                                                                | Standard Pacific Corp., 6.25%, 12/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 540,350     |
|                                                                                                                                                             | 205,000              |                        | BB-/B1                                                                                               | The Ryland Group, Inc., 5.375%, 10/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 202,950     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,843,537   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 3,405,787   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Services - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Casinos & Gaming - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 240,000              |                        | B+/B2                                                                                                | PNK Finance Corp., 6.375%, 8/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 252,000     |
|                                                                                                                                                             | 750,000              |                        | B/B2                                                                                                 | Scientific Games International, Inc., 6.25%, 9/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 787,500     |
|                                                                                                                                                             | 1,120,000            |                        | BBB-/NR                                                                                              | Wynn Las Vegas LLC, 4.25%, 5/30/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 1,075,200   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,114,700   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Hotels, Resorts & Cruise Lines - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 710,000              |                        | B-/B3                                                                                                | MISA Investments, Ltd., 8.625%, 8/15/18 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 729,525     |
|                                                                                                                                                             | 50,000               |                        | B+/B3                                                                                                | Viking Cruises, Ltd., 8.5%, 10/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 56,500      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 786,025     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Education Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 100,000              |                        | CCC+/Caa1                                                                                            | Cambium Learning Group, Inc., 9.75%, 2/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 101,500     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Specialized Consumer Services - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 1,885,000            |                        | BB-/Ba3                                                                                              | Sotheby's, 5.25%, 10/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 1,828,450   |
|                                                                                                                                                             | 735,000              |                        | B-/B3                                                                                                | StoneMor Partners LP, 7.875%, 6/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 762,562     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,591,012   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Consumer Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 5,593,237   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Media - 2.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Advertising - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 300,000              |                        | BB-/Ba2                                                                                              | Lamar Media Corp., 5.375%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 310,875     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Broadcasting - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 165,000              |                        | BB-/B1                                                                                               | CCO Holdings LLC, 5.75%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 166,444     |
|                                                                                                                                                             | 100,000              |                        | B-/Caa2                                                                                              | Intelsat Luxembourg SA, 7.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 104,250     |
|                                                                                                                                                             | 240,000              |                        | B/B3                                                                                                 | Mediacom Broadband LLC, 5.5%, 4/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 239,400     |
|                                                                                                                                                             | 265,000              |                        | B/B1                                                                                                 | Sinclair Television Group, Inc., 6.375%, 11/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 275,600     |
|                                                                                                                                                             | 320,000              |                        | B/B3                                                                                                 | Townsquare Radio LLC, 9.0%, 4/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 352,800     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,138,494   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Cable & Satellite - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 1,440,000            |                        | BB-/B1                                                                                               | CCO Holdings LLC, 5.75%, 9/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,452,600   |
|                                                                                                                                                             | 1,320,000            |                        | BB/B1                                                                                                | Sirius XM Radio, Inc., 4.625%, 5/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 1,221,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,673,600   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Movies & Entertainment - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 870,000              |                        | B+/B3                                                                                                | Live Nation Entertainment, Inc., 7.0%, 9/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 948,300     |
|                                                                                                                                                             | 475,000              |                        | CCC+/Caa1                                                                                            | Production Resource Group, Inc., 8.875%, 5/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 378,812     |
|                                                                                                                                                             | 315,000              |                        | B-/B3                                                                                                | Regal Entertainment Group, Inc., 5.75%, 2/1/25                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 311,850     |
|                                                                                                                                                             | 650,000              |                        | B-/Caa1                                                                                              | SFX Entertainment, Inc., 9.625%, 2/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 682,500     |
|                                                                                                                                                             | 1,900,000            |                        | B+/B1                                                                                                | WMG Acquisition Corp., 5.625%, 4/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 1,926,125   |
|                                                                                                                                                             | 800,000              |                        | B/Caa1                                                                                               | WMG Acquisition Corp., 6.75%, 4/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 806,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,053,587   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Publishing - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 1,505,000            |                        | BB/Ba1                                                                                               | Gannett Co., Inc., 6.375%, 10/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 1,595,300   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 10,771,856  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Retailing - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Distributors - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 1,800,000            |                        | BB-/Ba3                                                                                              | LKQ Corp., 4.75%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 1,728,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Department Stores - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 1,000,000            |                        | CCC+/Caa2                                                                                            | Neiman Marcus Group, Ltd. LLC, 8.0%, 10/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,095,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Apparel Retail - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 300,000              |                        | B+/B3                                                                                                | Brown Shoe Co., Inc., 7.125%, 5/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 317,253     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Computer & Electronics Retail - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 1,985,000            |                        | B+/B1                                                                                                | Rent-A-Center, Inc., 4.75%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,860,938   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Specialty Stores - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 300,000              |                        | BB-/Ba3                                                                                              | Outerwall, Inc., 6.0%, 3/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 311,250     |
|                                                                                                                                                             | 700,000              |                        | CCC+/Caa2                                                                                            | PC Nextco Holdings LLC, 8.75%, 8/15/19 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 722,750     |
|                                                                                                                                                             | 460,000              |                        | CCC+/Caa1                                                                                            | Petco Holdings, Inc., 8.5%, 10/15/17 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 469,292     |
|                                                                                                                                                             | 250,000              |                        | B/B3                                                                                                 | Radio Systems Corp., 8.375%, 11/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 274,062     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,777,354   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Automotive Retail - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 1,130,000            |                        | BB-/Ba3                                                                                              | CST Brands, Inc., 5.0%, 5/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,118,700   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 7,897,245   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food & Staples Retailing - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food Distributors - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 685,000              |                        | B/B3                                                                                                 | KeHE Distributors LLC, 7.625%, 8/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 741,512     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 741,512     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food, Beverage & Tobacco - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Agricultural Products - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 455,000              |                        | BB+/B1                                                                                               | Darling Ingredients, Inc., 5.375%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 467,512     |
|                                                                                                                                                             | 270,000              |                        | B/B2                                                                                                 | Southern States Cooperative, Inc., 10.0%, 8/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 271,350     |
|                                                                                                                                                             | 200,000              |                        | B/NR                                                                                                 | Tonon Bioenergia SA, 9.25%, 1/24/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 181,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 919,862     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Packaged Foods & Meats - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 463,000              |                        | B/B1                                                                                                 | Chiquita Brands International, Inc., 7.875%, 2/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 516,245     |
|                                                                                                                                                             | 930,000              |                        | CCC+/Caa1                                                                                            | Dole Food Co., Inc., 7.25%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 939,300     |
|                                                                                                                                                             | 125,000              |                        | B/B3                                                                                                 | FAGE Dairy Industry SA, 9.875%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 135,000     |
|                                                                                                                                                             | 325,000              |                        | BB/NR                                                                                                | JBS Investments GmbH, 7.75%, 10/28/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 345,719     |
|                                                                                                                                                             | 200,000              |                        | B/B2                                                                                                 | Marfrig Holding Europe BV, 9.875%, 7/24/17 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 210,000     |
|                                                                                                                                                             | 1,375,000            |                        | B/B1                                                                                                 | Post Holdings, Inc., 6.75%, 12/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,440,312   |
|                                                                                                                                                             | 160,000              |                        | B+/B3                                                                                                | Wells Enterprises, Inc., 6.75%, 2/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 165,600     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,752,176   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Tobacco - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 575,000              |                        | B-/Caa1                                                                                              | Alliance One International, Inc., 9.875%, 7/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 580,750     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 5,252,788   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Household & Personal Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Personal Products - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 200,000              |                        | BBB-/Baa3                                                                                            | Avon Products, Inc., 5.0%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 201,444     |
|                                                                                                                                                             | 965,256              |                        | CCC+/Caa1                                                                                            | Monitronics International, Inc., 9.125%, 4/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 1,026,791   |
|                                                                                                                                                             | 150,000              |                        | B/B2                                                                                                 | Revlon Consumer Products Corp., 5.75%, 2/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 151,125     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,379,360   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Household & Personal Products                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 1,379,360   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Equipment & Services - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 925,000              |                        | CCC+/Caa2                                                                                            | BioScrip, Inc., 8.875%, 2/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 962,000     |
|                                                                                                                                                             | 100,000              |                        | B-/B3                                                                                                | ExamWorks Group, Inc., 9.0%, 7/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 110,000     |
|                                                                                                                                                             | 60,000               |                        | CCC+/Caa2                                                                                            | Gentiva Health Services, Inc., 11.5%, 9/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 62,700      |
|                                                                                                                                                             | 80,000               |                        | CCC+/Caa2                                                                                            | Truven Health Analytics, Inc., 10.625%, 6/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 90,000      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,224,700   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Facilities - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 1,105,000            |                        | B-/B3                                                                                                | CHS, 6.875%, 2/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 1,145,056   |
|                                                                                                                                                             | 700,000              |                        | B-/B3                                                                                                | CHS, Inc., 7.125%, 7/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 750,750     |
|                                                                                                                                                             | 1,065,000            |                        | B-/B3                                                                                                | CHS, Inc., 8.0%, 11/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 1,164,844   |
|                                                                                                                                                             | 330,000              |                        | BB/Ba3                                                                                               | HCA, Inc., 5.875%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 353,925     |
|                                                                                                                                                             | 300,000              |                        | B-/B3                                                                                                | Kindred Healthcare, Inc., 8.25%, 6/1/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 321,000     |
|                                                                                                                                                             | 300,000              |                        | BB-/Ba1                                                                                              | LifePoint Hospitals, Inc., 5.5%, 12/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 312,000     |
|                                                                                                                                                             | 345,000              |                        | B-/NR                                                                                                | Select Medical Corp., 6.375%, 6/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 355,350     |
|                                                                                                                                                             | 1,080,000            |                        | B/B3                                                                                                 | Universal Hospital Services, Inc., 7.625%, 8/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      | 1,155,600   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,558,525   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Managed Health Care - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 1,000,000            |                        | BB/Ba2                                                                                               | WellCare Health Plans, Inc., 5.75%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,067,500   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Technology - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 100,000              |                        | B/B3                                                                                                 | MedAssets, Inc., 8.0%, 11/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 106,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 7,956,975   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Pharmaceuticals, Biotechnology & Life Sciences - 0.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Biotechnology - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 250,000              |                        | B-/Caa2                                                                                              | Lantheus Medical Imaging, Inc., 9.75%, 5/15/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 248,750     |
|                                                                                                                                                             | 40,000               |                        | BBB-/Baa3                                                                                            | Warner Chilcott Co. LLC, 7.75%, 9/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 42,500      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 291,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Pharmaceuticals - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 390,000              |                        | B/B1                                                                                                 | Endo Finance LLC, 5.75%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 402,675     |
|                                                                                                                                                             | 660,000              |                        | BB+/Ba1                                                                                              | Forest Laboratories, Inc., 5.0%, 12/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 705,375     |
|                                                                                                                                                             | 100,000              |                        | CCC+/Caa1                                                                                            | Par Pharmaceutical Companies, Inc., 7.375%, 10/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 108,500     |
|                                                                                                                                                             | 695,000              |                        | B/B2                                                                                                 | Salix Pharmaceuticals, Ltd., 6.0%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 745,388     |
|                                                                                                                                                             | 300,000              |                        | B/B1                                                                                                 | Valeant Pharmaceuticals International, 6.375%, 10/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 322,500     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,284,438   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 2,575,688   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Banks - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Banks - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 250,000              |                        | BB-/B1                                                                                               | CorpGroup Banking SA, 6.75%, 3/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 245,643     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Regional Banks - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 210,000              | 4.85                        | BBB/Baa3                                                                                             | The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 197,662     |
|                                                                                                                                                             | 30,000               | 6.75                        | BBB/Baa3                                                                                             | The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 33,075      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 230,737     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Thrifts & Mortgage Finance - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 400,000              |                        | B+/Ba3                                                                                               | Provident Funding Associates LP, 6.75%, 6/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $         | 409,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 885,380     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Financials - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Other Diversified Financial Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 100,000              | 7.12                        | AA-/Baa1                                                                                             | General Electric Capital Corp., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 115,000     |
|                                                                                                                                                             | 540,000              | 6.75                        | BBB/Ba1                                                                                              | JPMorgan Chase & Co., Floating Rate Note, 8/29/49                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 572,400     |
|                                                                                                                                                             | 325,000              |                        | B/B3                                                                                                 | Summit Midstream Holdings LLC, 7.5%, 7/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 349,375     |
|                                                                                                                                                             | 300,000              | 5.65                        | BB/Ba1                                                                                               | Voya Financial, Inc., Floating Rate Note, 5/15/53                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 299,970     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,336,745   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Specialized Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 100,000              |                        | BBB-/NR                                                                                              | Cantor Fitzgerald LP, 7.875%, 10/15/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 105,750     |
|                                                                                                                                                             | 455,000              |                        | B+/B2                                                                                                | Nationstar Mortgage LLC, 6.5%, 6/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 429,975     |
|                                                                                                                                                             | 655,000              |                        | B+/B2                                                                                                | Nationstar Mortgage LLC, 6.5%, 7/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 624,706     |
|                                                                                                                                                             | 100,000              |                        | B+/B2                                                                                                | Nationstar Mortgage LLC, 6.5%, 8/1/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 100,750     |
|                                                                                                                                                             | 450,000              |                        | B/B1                                                                                                 | Oxford Finance LLC, 7.25%, 1/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 478,125     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,739,306   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Finance - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 200,000              |                        | B/B1                                                                                                 | Jefferies Finance LLC, 7.375%, 4/1/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 209,500     |
|                                                                                                                                                             | 1,290,000            |                        | B/B3                                                                                                 | TMX Finance LLC, 8.5%, 9/15/18 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 1,373,850   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,583,350   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Asset Management & Custody Banks - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 1,800,000            |                        | BB/NR                                                                                                | JBS Investment Management, Ltd., 7.25%, 4/3/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,824,750   |
|                                                                                                                                                             | 400,000              | 4.50                        | BBB/Baa2                                                                                             | The Bank of New York Mellon Corp., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 366,700     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,191,450   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Capital Markets - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 200,000              | 7.50                        | BB/NR                                                                                                | Credit Suisse Group AG, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 217,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 7,068,101   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Insurance - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Insurance Brokers - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 200,000              |                        | CCC+/Caa2                                                                                            | USI, Inc. New York, 7.75%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 206,500     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Reinsurance - 0.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 250,000              | 4.30                        | BB+/NR                                                                                               | Blue Danube II, Ltd., Floating Rate Note, 5/23/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 253,900     |
|                                                                                                                                                             | 250,000              | 5.29                        | BB-/NR                                                                                               | Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 253,700     |
|                                                                                                                                                             | 250,000              | 6.89                        | NR/NR                                                                                                | Caelus Re, Ltd., Floating Rate Note, 4/7/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 261,875     |
|                                                                                                                                                             | 250,000              | 6.70                        | BB/NR                                                                                                | East Lane Re, Ltd., Floating Rate Note, 3/13/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 258,275     |
|                                                                                                                                                             | 250,000              | 6.68                        | BB-/NR                                                                                               | Embarcadero Reinsurance, Ltd., Floating Rate Note, 2/4/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 251,875     |
|                                                                                                                                                             | 250,000              | 7.43                        | NR/NR                                                                                                | Galileo Re, Ltd., Floating Rate Note, 1/9/19 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 259,425     |
|                                                                                                                                                             | 250,000              | 12.02                       | NR/NR                                                                                                | Loma Reinsurance, Ltd., Bermuda, Floating Rate Note, 1/8/18 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 257,300     |
|                                                                                                                                                             | 250,000              | 8.55                        | B+/NR                                                                                                | Mythen Re, Ltd., Series 2012-2 Class A, Floating Rate Note, 1/5/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 265,200   |
|                                                                                                                                                             | 250,000              | 11.78                       | B-/NR                                                                                                | Mythen Re, Ltd., Series 2012-2 Class A, Floating Rate Note, 11/10/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 265,425   |
|                                                                                                                                                             | 250,000              | 8.03                        | NR/NR                                                                                                | Mythen Re, Ltd., Series 2013-1 Class B, Floating Rate Note, 7/9/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 257,350   |
|                                                                                                                                                             | 250,000              | 8.65                        | B/NR                                                                                                 | Queen Street VII Re, Ltd., Floating Rate Note, 4/8/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 265,325     |
|                                                                                                                                                             | 250,000              | 5.80                        | BB/NR                                                                                                | Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 261,600   |
|                                                                                                                                                             | 250,000              | 4.55                        | BB+/NR                                                                                               | Residential Reinsurance 2012, Ltd., Floating Rate Note, 12/6/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 258,800   |
|                                                                                                                                                             | 250,000              | 10.05                       | BB-/NR                                                                                               | Residential Reinsurance 2012, Ltd., Floating Rate Note, 6/6/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 277,600     |
|                                                                                                                                                             | 250,000              | 4.03                        | BB/NR                                                                                                | Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 252,300     |
|                                                                                                                                                             | 250,000              | 16.30                       | NR/NR                                                                                                | Successor X, Ltd., Floating Rate Note, 11/10/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 256,625     |
|                                                                                                                                                             | 250,000              | 6.28                        | NR/NR                                                                                                | Tradewynd Re, Ltd., Floating Rate Note, 1/8/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 250,700     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 4,407,275   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Insurance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 4,613,775   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate - 0.9%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified REIT - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 400,000              |                        | B/Ba3                                                                                                | CNL Lifestyle Properties, Inc., 7.25%, 4/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 420,000     |
|                                                                                                                                                             | 1,130,000            |                        | BB/Ba1                                                                                               | MPT Operating Partnership LP, 5.5%, 5/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      | 1,152,600   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,572,600   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Real Estate Activities - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 1,260,000            |                        | B+/B1                                                                                                | Alam Synergy Pte, Ltd., 9.0%, 1/29/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 1,307,250   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate Development - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 500,000              |                        | B/Ba3                                                                                                | The Howard Hughes Corp., 6.875%, 10/1/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 537,500     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Real Estate Services - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 1,210,000            |                        | BB-/B2                                                                                               | Kennedy-Wilson, Inc., 5.875%, 4/1/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,208,488   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Real Estate                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 4,625,838   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Software & Services - 1.5%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Internet Software & Services - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 515,000              |                        | BB/Ba3                                                                                               | Equinix, Inc., 5.375%, 4/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 524,012     |
|                                                                                                                                                             | 958,856              |                        | NR/NR                                                                                                | First Data Holdings, Inc., 14.5%, 9/24/19 (144A) (PIK)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 924,097     |
|                                                                                                                                                             | 325,000              |                        | BB/B1                                                                                                | j2 Global, Inc., 8.0%, 8/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 353,438     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,801,547   |
|                                                                                                                                                             |                 |                        |                                                                                                 | IT Consulting & Other Services - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 2,100,000            |                        | BB-/B3                                                                                               | Entegris, Inc., 6.0%, 4/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 2,126,250   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Data Processing & Outsourced Services - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             | 1,700,000            |                        | BB-/Ba2                                                                                              | Audatex North America, Inc., 6.125%, 11/1/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,816,875   |
|                                                                                                                                                             | 200,000              |                        | CCC+/Caa2                                                                                            | First Data Corp., 11.75%, 8/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 213,000     |
|                                                                                                                                                             | 125,000              |                        | B-/Caa1                                                                                              | First Data Corp., 8.25%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 134,688     |
|                                                                                                                                                             | 1,290,000            |                        | BB-/Ba3                                                                                              | NeuStar, Inc., 4.5%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 1,122,300   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,286,863   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Application Software - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 315,000              |                        | BB/B2                                                                                                | ACI Worldwide, Inc., 6.375%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 331,538     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Home Entertainment Software - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             | 220,000              |                        | BB+/Ba2                                                                                              | Activision Blizzard, Inc., 6.125%, 9/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 239,250     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 7,785,448   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Technology Hardware & Equipment - 0.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Communications Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 390,000              |                        | BB+/Ba3                                                                                              | Brocade Communications Systems, Inc., 4.625%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 373,425     |
|                                                                                                                                                             | 105,000              |                        | CCC+/Caa1                                                                                            | CPI International, Inc., 8.0%, 2/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 109,988     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 483,413     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Computer Hardware - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 265,000              |                        | BB/Ba3                                                                                               | NCR Corp., 6.375%, 12/15/23 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 283,550     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electronic Equipment Manufacturers - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 2,250,000            |                        | B+/B1                                                                                                | Viasystems, Inc., 7.875%, 5/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 2,396,250   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electronic Components - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 410,000              |                        | B+/Ba2                                                                                               | Belden, Inc., 5.5%, 9/1/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 417,175     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 3,580,388   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Semiconductors & Semiconductor Equipment - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Semiconductor Equipment - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             | 150,000              |                        | BB/B2                                                                                                | Amkor Technology, Inc., 6.375%, 10/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 157,875     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Semiconductors - 0.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 1,000,000            |                        | B/B2                                                                                                 | Advanced Micro Devices, Inc., 6.75%, 3/1/19 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,037,500   |
|                                                                                                                                                             | 100,000              |                        | B/B2                                                                                                 | Advanced Micro Devices, Inc., 7.5%, 8/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 104,000     |
|                                                                                                                                                             | 375,000              |                        | BB-/Ba3                                                                                              | Micron Technology, Inc., 5.875%, 2/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      | 395,625     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 1,537,125   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 1,695,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Telecommunication Services - 2.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Integrated Telecommunication Services - 1.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 200,000              |                        | BB/Ba2                                                                                               | CenturyLink, Inc., 5.8%, 3/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 205,000     |
|                                                                                                                                                             | 700,000              |                        | BB/Ba2                                                                                               | CenturyLink, Inc., 6.45%, 6/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 754,250     |
|                                                                                                                                                             | 100,000              |                        | BB/Ba2                                                                                               | CenturyLink, Inc., 6.75%, 12/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 107,250     |
|                                                                                                                                                             | 277,000              |                        | CCC+/Caa1                                                                                            | Cincinnati Bell, Inc., 8.75%, 3/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 290,850     |
|                                                                                                                                                             | 200,000              |                        | BB-/Ba2                                                                                              | Frontier Communications Corp., 7.125%, 1/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 206,500     |
|                                                                                                                                                             | 100,000              |                        | BB-/Ba2                                                                                              | Frontier Communications Corp., 7.625%, 4/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 103,750     |
|                                                                                                                                                             | 317,000              |                        | BB-/Ba2                                                                                              | Frontier Communications Corp., 8.5%, 4/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 369,107     |
|                                                                                                                                                             | 160,000              |                        | BB-/Ba2                                                                                              | Frontier Communications Corp., 8.75%, 4/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 182,400     |
|                                                                                                                                                             | 800,000              |                        | BB-/Ba2                                                                                              | Frontier Communications Corp., 9.25%, 7/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      | 946,000     |
|                                                                                                                                                             | 1,200,000            |                        | B+/B3                                                                                                | GCI, Inc., 6.75%, 6/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 1,213,500   |
|                                                                                                                                                             | 300,000              |                        | B+/B3                                                                                                | GCI, Inc., 8.625%, 11/15/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 320,625     |
|                                                                                                                                                             | 750,000              |                        | BB-/Ba3                                                                                              | MasTec, Inc., 4.875%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      | 723,750     |
|                                                                                                                                                             | 1,510,000            |                        | B/B1                                                                                                 | Windstream Corp., 6.375%, 8/1/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 1,468,475   |
|                                                                                                                                                             | 770,000              |                        | B/B1                                                                                                 | Windstream Corp., 7.5%, 6/1/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 821,975     |
|                                                                                                                                                             | 590,000              |                        | B/B1                                                                                                 | Windstream Corp., 7.75%, 10/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      | 638,675     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 8,352,107   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Wireless Telecommunication Services - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 500,000              |                        | BB-/B1                                                                                               | Altice Financing SA, 6.5%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 523,750     |
|                                                                                                                                                             | 200,000              |                        | B-/B3                                                                                                | Altice Finco SA, 8.125%, 1/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 216,000     |
|                                                                                                                                                             | 100,000              |                        | BB/Ba3                                                                                               | MetroPCS Wireless, Inc., 6.625%, 11/15/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 106,750     |
|                                                                                                                                                             | 1,375,000            |                        | BB-/B1                                                                                               | Sprint Corp., 7.125%, 6/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 1,443,750   |
|                                                                                                                                                             | 200,000              |                        | BB-/B1                                                                                               | Sprint Corp., 7.25%, 9/15/21 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 218,000     |
|                                                                                                                                                             | 170,000              |                        | BB/Ba3                                                                                               | T-Mobile USA, Inc., 6.125%, 1/15/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 178,712     |
|                                                                                                                                                             | 215,000              |                        | BB/Ba3                                                                                               | T-Mobile USA, Inc., 6.5%, 1/15/24                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 225,481     |
|                                                                                                                                                             | 335,000              |                        | BB/Ba3                                                                                               | T-Mobile USA, Inc., 6.836%, 4/28/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 360,544     |
|                                                                                                                                                             | 100,000              |                        | NR/NR                                                                                                | Unison Ground Lease Funding LLC, 5.78%, 3/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 96,157      |
|                                                                                                                                                             | 100,000              |                        | NR/NR                                                                                                | WCP Issuer llc, 6.657%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 104,124     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,473,268   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 11,825,375  |
|                                                                                                                                                             |                 |                        |                                                                                                 | Utilities - 1.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Gas Utilities - 0.4%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 1,150,000            |                        | NR/Ba2                                                                                               | AmeriGas Finance LLC, 7.0%, 5/20/22                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 1,265,000   |
|                                                                                                                                                             | 350,000              |                        | B/B2                                                                                                 | Ferrellgas LP, 6.5%, 5/1/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      | 367,500     |
|                                                                                                                                                             | 105,000              |                        | B/B2                                                                                                 | Ferrellgas LP, 6.75%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      | 110,512     |
|                                                                                                                                                             | 549,000              |                        | B-/B2                                                                                                | Star Gas Partners LP, 8.875%, 12/1/17                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 581,940     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 2,324,952   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Independent Power Producers & Energy Traders - 1.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 175,000              |                        | BB-/Ba3                                                                                              | AES Corp. Virginia, 4.875%, 5/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 167,562     |
|                                                                                                                                                             | 165,000              |                        | BB-/B1                                                                                               | Calpine Corp., 5.875%, 1/15/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      | 169,331     |
|                                                                                                                                                             | 185,000              |                        | BB-/B1                                                                                               | Calpine Corp., 6.0%, 1/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      | 196,562     |
|                                                                                                                                                             | 2,825,000            |                        | BB-/B1                                                                                               | NRG Energy, Inc., 6.25%, 5/1/24 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 2,835,594   |
|                                                                                                                                                             | 600,000              |                        | BB-/B1                                                                                               | NRG Energy, Inc., 6.25%, 7/15/22 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 620,250     |
|                                                                                                                                                             | 635,000              |                        | BB-/B1                                                                                               | NRG Energy, Inc., 6.625%, 3/15/23                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 663,575     |
|                                                                                                                                                             | 75,000               |                        | BB-/B1                                                                                               | NRG Energy, Inc., 7.625%, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      | 84,938      |
|                                                                                                                                                             | 300,000              |                        | BB+/Ba1                                                                                              | NSG Holdings LLC, 7.75%, 12/15/25 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 321,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 5,058,812   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Utilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 7,383,764   |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $186,319,877)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 189,732,013 |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 5.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 9,500,000            |                        | NR/NR                                                                                                | Fannie Mae, 3.5%, 4/1/44                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 9,650,947   |
|                                                                                                                                                             | 9,500,000            |                        | AA+/Aaa                                                                                              | Fannie Mae, 3.5%, 4/10/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 9,648,694   |
|                                                                                                                                                             | 10,000,000           |                        | AAA/Aaa                                                                                              | Fannie Mae, 4.0%, 5/12/14                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | 10,476,953  |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $29,581,749)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 29,776,594  |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | FOREIGN GOVERNMENT BONDS - 1.8%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             | 842,000              |                        | BB+/Baa3                                                                                             | Indonesia Government International Bond, 6.625%, 2/17/37 (144A)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 908,308     |
| IDR                                                                                                                                                              | ##########           |                        | NR/Baa3                                                                                              | Indonesia Treasury Bond, 6.125%, 5/15/28                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      | 3,552,476   |
| IDR                                                                                                                                                              | ##########           |                        | BB+/Baa3                                                                                             | Indonesia Treasury Bond, 9.0%, 3/15/29                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 5,146,090   |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $8,773,888)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 9,606,874   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | SENIOR FLOATING RATE LOAN INTERESTS - 1.1% **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Energy - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Oil & Gas Exploration & Production - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 364,000              | 8.38                        | B-/B2                                                                                                | Fieldwood Energy LLC, 9/30/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 376,376     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Energy                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 376,376     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Capital Goods - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Electrical Components & Equipment - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             | 232,519              | 0.00                        | NR/NR                                                                                                | Pelican Products, Inc., 4/8/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 234,844     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Industrial Conglomerates - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 200,000              | 8.25                        | B-/Caa1                                                                                              | Filtration Group Corp., Initial Term Loan (Second Lien), 11/15/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 204,625     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Capital Goods                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $         | 439,469     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Commercial Services & Supplies - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Security & Alarm Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             | 58,805               | 4.25                        | B/Ba3                                                                                                | Monitronics International, Inc., Term B Loan, 3/23/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 58,934      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 58,934      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Automobiles & Components - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Auto Parts & Equipment - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 121,623              | 4.25                        | NR/B1                                                                                                | Metaldyne LLC, Tranche B Term Loan, 12/18/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 122,018     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Automobiles & Components                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 122,018     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Consumer Durables & Apparel - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Leisure Products - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             | 113,143              | 4.00                        | B+/B1                                                                                                | Bombardier Recreational Products, Inc., 1/30/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 112,872     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Apparel, Accessories & Luxury Goods - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 148,125              | 5.75                        | B/B2                                                                                                 | Renfro Corp., Tranche B Term Loan, 1/23/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 147,755     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 260,627     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Media - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Broadcasting - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             | 148,500              | 0.00                        | B/B2                                                                                                 | NEP, 1/22/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 148,407     |
|                                                                                                                                                             | 59,361               | 4.00                        | B+/NR                                                                                                | Univision Communications, Inc., 3/1/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      | 59,143      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 207,550     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Publishing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 897,750              | 6.25                        | B+/NR                                                                                                | McGraw-Hill School Education Holdings llc, Term B Loan, 12/18/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 905,792     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Media                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 1,113,342   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Retailing - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Distributors - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 1,145,000            | 0.00                        | NR/NR                                                                                                | Industrial Packaging Group, Term Loan, 3/10/15                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $         | 1,145,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $         | 1,145,000   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food & Staples Retailing - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food Distributors - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 700,000              | 8.25                        | CCC+/Caa1                                                                                            | Del Monte Foods Consumer Products,Term Loan (Second Lien), 5/26/21                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 694,312     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 694,312     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Food, Beverage & Tobacco - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Packaged Foods & Meats - 0.2%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             | 200,000              | 6.75                        | B-/NR                                                                                                | Hostess Brands, Inc., Term B Loan, 2/25/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 208,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $         | 208,000     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Equipment & Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Health Care Services - 0.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 198,992              | 6.75                        | B+/B1                                                                                                | Ardent Medical Services, Inc., 1st Lien Term Loan, 5/2/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 197,003     |
|                                                                                                                                                             | 44,551               | 6.50                        | NR/B1                                                                                                | BioScrip, Inc., 7/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 44,867      |
|                                                                                                                                                             | 89,103               | 6.50                        | BB-/B1                                                                                               | BioScrip, Inc., 7/31/20                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      | 89,660      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 331,530     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $         | 331,530     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Banks - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Thrifts & Mortgage Finance - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |      |        |
|                                                                                                                                                             | 148,500              | 5.00                        | B+/B1                                                                                                | Ocwen Financial Corp., Initial Term Loan, 1/15/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 149,358     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 149,358     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Software & Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Application Software - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 95,549               | 4.25                        | B+/B1                                                                                                | Vertafore, Inc., 10/3/19                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $         | 95,628      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Software & Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 95,628      |
|                                                                                                                                                             |                 |                        |                                                                                                 | Telecommunication Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Integrated Telecommunication Services - 0.0% +                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 122,255              | 3.25                        | BB/B1                                                                                                | West Corp., B-10 Term Loan (First Lien), 6/30/18                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 120,908     |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Telecommunication Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 120,908     |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $5,061,339)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 5,115,502   |
|                                                                                                                                                             | Shares               |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | MUTUAL FUNDS - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Diversified Financials - 1.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Other Diversified Financial Services - 0.6%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 51,627               |                        |                                                                                                 | SPDR S&P Euro Dividend Aristocrats UCITS ETF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $         | 1,437,171   |
|                                                                                                                                                             | 78,944               |                        |                                                                                                 | SPDR S&P UK Dividend Aristocrats UCITS ETF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 1,758,575   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 3,195,746   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Asset Management & Custody Banks - 1.1%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             | 308,398              |                        |                                                                                                 | BlackRock MuniVest Fund, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $         | 2,972,957   |
|                                                                                                                                                             | 222,589              |                        |                                                                                                 | BlackRock MuniYield Fund, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      | 3,147,408   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $         | 6,120,365   |
|                                                                                                                                                             |                 |                        |                                                                                                 | Total Diversified Financials                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $         | 9,316,111   |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL MUTUAL FUNDS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $8,910,434)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $         | 9,316,111   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL INVESTMENT IN SECURITIES - 98.7%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | (Cost $508,500,867) (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $         | 526,262,734 |
|                                                                                                                                                             |                 |                        |                                                                                                 | OTHER ASSETS & LIABILITIES - 1.3%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $         | 7,696,376   |
|                                                                                                                                                             |                 |                        |                                                                                                 | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 533,959,110 |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | *                    |                        |                                                                                                 | Non-income producing security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | +                    |                        |                                                                                                 | Amount rounds to less than 0.1%.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | 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, 2014, the value of these securities amounted to $111,501,351 or 20.9% of total net assets.                                                                                                                                                                                                                                                             |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | PIK                  |                        |                                                                                                 | Represents a pay-in-kind security.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | REIT                 |                        |                                                                                                 | Real Estate Investment Trust                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (Step)               |                        |                                                                                                 | Bond issued with an initial coupon rate which converts to a higher rate at a later date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (Perpetual)          |                        | Security with no stated maturity date.                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | **                   |                        |                                                                                                 | Senior floating rate loan interests in which the Fund invests generally pay interest at rates that are periodically redetermined by reference to a base lending rate plus a premium.  These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as LIBOR (London InterBank Offered Rate), (ii) the prime rate offered by one or more major United States banks, (iii) the rate of a certificate of deposit or (iv) other base lending rates used by commercial lenders.  The rate shown is the coupon rate at period end. |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (a)                  |                        |                                                                                                 | At April 30, 2014, the net unrealized appreciation on investments based on                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | cost for federal income tax purposes of $508,627,376 was as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Aggregate gross unrealized appreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $         | 24,024,916  |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Aggregate gross unrealized depreciation for all investments in which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      | (6,389,558) |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Net unrealized appreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $         | 17,635,358  |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (b)                  |                        |                                                                                                 | Debt obligation with a variable interest rate.  Rate shown is rate at period end                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (c)                  |                        |                                                                                                 | Security represents the interest only portion payments on a pool of underlying mortgages or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                             |                 |                        |                                                                                                 | mortgage-backed securities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (d)                  |                        |                                                                                                 | Security issued with a zero coupon.  Income is earned through accrection of discount.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | (e)                  |                        |                                                                                                 | Security is in default and is non-income producing.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 | Principal amounts are denominated in U.S. Dollars unless otherwise noted:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             | IDR                  |                        |                                                                                                 | Indonesian Rupiah                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |      |        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
| 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.)       |
| Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)                                  |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
| 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.                                                                |                 |                        |
|                                                                                                                                                             |                 |                        |                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |      |        |
| The following is a summary of the inputs used as of April 30, 2014, in valuing the Fund’s assets:                                                          |                 |                        |

|                                                                                              |                                                                                                                |   | Level 1         |        |   | Level 2         |   |        | Level 3 |   |   | Total   |   |
|---------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------|--------|-----------------|-------------|--------|-----------------|--------|-------------|---------|--------|--------|---------|--------|
|                                                                                              | Convertible Corporate Bonds                                                                                         |   | $               | -           |   |            | $      | 1,164,950   |    |   |   | -       |   |   | $ | 1,164,950 |   |
|                                                                                              | Preferred Stocks                                                                                                    |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   | - |   |
|                                                                                              |  Transportation                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Air Freight & Logistics                                                                             |   |            | -           |   |            |   | 61,416      |    |   |   | -       |   |   |   | 61,416 |   |
|                                                                                              |  Banks                                                                                                         |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Regional Banks                                                                                          |   |            | 398,400     |   |            |   | 102,719     |    |   |   | -       |   |   |   | 501,119 |   |
|                                                                                              |  Insurance                                                                                                     |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Reinsurance                                                                                             |   |            | -           |   |            |   | -           |    |   |   | 506,953 |   |   |   | 506,953 |   |
|                                                                                              | All Other Preferred Stocks                                                                                          |   |            | 2,064,550   |   |            |   | -           |    |   |   | -       |   |   |   | 2,064,550 |   |
|                                                                                              | Convertible Preferred Stocks                                                                                        |   |            | -           |   |            |   | 478,562     |    |   |   | -       |   |   |   | 478,562 |   |
|                                                                                              | Common Stocks                                                                                                       |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   | - |   |
|                                                                                              |  Energy                                                                                                        |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Integrated Oil & Gas                                                                                |   |            | 3,347,591   |   |            |   | 17,952,948  |    |   |   | -       |   |   |   | 21,300,539 |   |
|                                                                                              |  Materials                                                                                                     |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Commodity Chemicals                                                                                     |   |            | 7,629,492   |   |            |   | -           |    |   |   | -       |   |   |   | 7,629,492 |   |
|                                                                                              |   Diversified Chemicals                                                                                   |   |            | 605,686     |   |            |   | -           |    |   |   | -       |   |   |   | 605,686 |   |
|                                                                                              |  Transportation                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Airlines                                                                                                |   |            | 5,121,237   |   |            |   | -           |    |   |   | -       |   |   |   | 5,121,237 |   |
|                                                                                              |  Consumer Services                                                                                             |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Restaurants                                                                                             |   |            | 922,355     |   |            |   | -           |    |   |   | -       |   |   |   | 922,355 |   |
|                                                                                              |  Retailing                                                                                                     |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Department Stores                                                                                       |   |            | 1,575,075   |   |            |   | -           |    |   |   | -       |   |   |   | 1,575,075 |   |
|                                                                                              |  Food, Beverage & Tobacco                                                                                  |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Packaged Foods & Meats                                                                              |   |            | 1,618,349   |   |            |   | -           |    |   |   | -       |   |   |   | 1,618,349 |   |
|                                                                                              |   Tobacco                                                                                                 |   |            | 4,014,415   |   |            |   | -           |    |   |   | -       |   |   |   | 4,014,415 |   |
|                                                                                              |  Household & Personal Products                                                                             |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Household Products                                                                                      |   |            | 843,691     |   |            |   | -           |    |   |   | -       |   |   |   | 843,691 |   |
|                                                                                              |   Personal Products                                                                                       |   |            | 2,398,677   |   |            |   | -           |    |   |   | -       |   |   |   | 2,398,677 |   |
|                                                                                              |  Health Care Equipment & Services                                                                          |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Health Care Equipment                                                                                   |   |            | 1,037,195   |   |            |   | -           |    |   |   | -       |   |   |   | 1,037,195 |   |
|                                                                                              |   Health Care Distributors                                                                                |   |            | 1,534,503   |   |            |   | -           |    |   |   | -       |   |   |   | 1,534,503 |   |
|                                                                                              |  Pharmaceuticals, Biotechnology & Life Sciences                                                            |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Pharmaceuticals                                                                                         |   |            | 19,708,744  |   |            |   | 21,018,786  |    |   |   | -       |   |   |   | 40,727,530 |   |
|                                                                                              |  Banks                                                                                                         |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Regional Banks                                                                                          |   |            | 3,185,788   |   |            |   | -           |    |   |   | -       |   |   |   | 3,185,788 |   |
|                                                                                              |  Diversified Financials                                                                                        |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Other Diversified Financial Services                                                                    |   |            | 923,904     |   |            |   | -           |    |   |   | -       |   |   |   | 923,904 |   |
|                                                                                              |   Asset Management & Custody Banks                                                                    |   |            | 26,722,285  |   |            |   | -           |    |   |   | -       |   |   |   | 26,722,285 |   |
|                                                                                              |  Software & Services                                                                                       |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Systems Software                                                                                        |   |            | 13,129,273  |   |            |   | -           |    |   |   | -       |   |   |   | 13,129,273 |   |
|                                                                                              |  Technology Hardware & Equipment                                                                           |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Computer Hardware                                                                                       |   |            | 16,582,122  |   |            |   | -           |    |   |   | -       |   |   |   | 16,582,122 |   |
|                                                                                              |  Telecommunication Services                                                                                    |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Integrated Telecommunication Services                                                                   |   |            | 6,572,405   |   |            |   | 18,589,127  |    |   |   | -       |   |   |   | 25,161,532 |   |
|                                                                                              |  Utilities                                                                                                     |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |   Electric Utilities                                                                                      |   |            | 5,349,373   |   |            |   | -           |    |   |   | -       |   |   |   | 5,349,373 |   |
|                                                                                              |   Multi-Utilities                                                                                         |   |            | 4,367,307   |   |            |   | -           |    |   |   | -       |   |   |   | 4,367,307 |   |
|                                                                                              |  All Other Common Stocks                                                                                       |   |            | -           |   |            |   | 83,301,486  |    |   |   | -       |   |   |   | 83,301,486 |   |
|                                                                                              | Asset Backed Securities                                                                                             |   |            | -           |   |            |   | 2,534,561   |    |   |   | -       |   |   |   | 2,534,561 |   |
|                                                                                              | Collateralized Mortgage Obligations                                                                                 |   |            | -           |   |            |   | 7,351,715   |    |   |   | -       |   |   |   | 7,351,715 |   |
|                                                                                              | Corporate Bonds                                                                                                     |   |            | -           |   |            |   | 189,732,013 |    |   |   | -       |   |   |   | 189,732,013 |   |
|                                                                                              | U.S. Government And Agency Obligations                                                                              |   |            | -           |   |            |   | 29,776,594  |    |   |   | -       |   |   |   | 29,776,594 |   |
|                                                                                              | Foreign Government Bonds                                                                                            |   |            | -           |   |            |   | 9,606,874   |    |   |   | -       |   |   |   | 9,606,874 |   |
|                                                                                              | Senior Floating Rate Loan Interests                                                                                 |   |            | -           |   |            |   | 5,115,502   |    |   |   | -       |   |   |   | 5,115,502 |   |
|                                                                                              | Mutual Funds                                                                                                        |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   | - |   |
|                                                                                              |  Diversified Financials                                                                                        |   |            |        |   |            |   |        |    |   |   |    |   |   |   | - |   |
|                                                                                              |   Other Diversified Financial Services                                                                    |   |            | -           |   |            |   | 3,195,746   |    |   |   | -       |   |   |   | 3,195,746 |   |
|                                                                                              |   Asset Management & Custody Banks                                                                    |   |            | 6,120,365   |   |            |   | -           |    |   |   | -       |   |   |   | 6,120,365 |   |
|                                                                                              | Total                                                                                                               |   | $               | 135,772,782 |   |            | $      | 389,982,999 |    |   | $      | 506,953 |   |   | $ | 526,262,734 |   |
|                                                                                              |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              | Other Financial Instruments                                                                                         |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              | Net unrealized appreciation on futures contracts                                                                    |   | $               | (243,906    | )      |            | $      | -           |    |   |   | -       |   |   | $ | (243,906 | ) |
|                                                                                              | Total Other Financial Instruments                                                                                   |   | $               | (243,906    | )      |            | $      | -           |    |   |   | -       |   |   | $ | (243,906 | ) |
|                                                                                              |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
| The following is a reconciliation of assets valued using significant observable inputs (Level 3): |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |
|                                                                                              |                                                                                                                |   | Corporate Bonds |        |   | PreferredStocks |   |        | Total   |   |   |    |   |   |
|                                                                                              |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              | Balance as of 7/31/13                                                                                               |   | $               | -           |   |            | $      | 282,556     |    |   | $      | 282,556 |   |   |   |   |   |
|                                                                                              | Realized gain (loss)                                                                                                |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   |   |   |
|                                                                                              | Change in unrealized appreciation (depreciation)                                                                    |   |            | -           |   |            |   | 119,121     |    |   |   | 119,121 |   |   |   |   |   |
|                                                                                              | Purchases                                                                                                           |   |            | -           |   |            |   | 187,778     |    |   |   | 187,778 |   |   |   |   |   |
|                                                                                              | Sales                                                                                                               |   |            | -           |   |            |   | (82,502     | )       |   |   | (82,502 | )      |   |   |   |   |
|                                                                                              | Transfers in to Level 3*                                                                                            |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   |   |   |
|                                                                                              | Transfers out of Level 3*                                                                                           |   |            | -           |   |            |   | -           |    |   |   | -       |   |   |   |   |   |
|                                                                                              | Balance as of 4/30/14                                                                                               |   | $               | -           |   |            | $      | 506,953     |    |   | $      | 506,953 |   |   |   |   |   |
|                                                                                              |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
| *                                                                                                 | Transfers are calculated on the beginning of period values. During the period ended April 30, 2014, there were |   |            |        |   |            |
|                                                                                              | no transters between Levels 1, 2 and 3.                                                                             |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              |                                                                                                                |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              | Net change in unrealized appreciation (depreciation) of investments                                                 |   |            |        |   |            |   |        |    |   |   |    |   |   |   |   |   |
|                                                                                              | still held as of 4/30/14                                                                                            |   | $               | 119,121     |   |            |   |        |    |   |   |    |   |   |   |   |   |

|                                                                                                                                                             |                 |                        |                              | Pioneer Government Income Fund                                                                                                                                                                                                                                                                                                     |      |        |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|-----------------------------|-----------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|-------------|
|                                                                                                                                                             |                 |                        |                              | Schedule of Investments 4/30/2014 (unaudited)                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | Principal Amount ($) | FloatingRate (b)(unaudited) | S&P/Moody'sRatings(unaudited) |                                                                                                                                                                                                                                                                                                                               | Value     |
|                                                                                                                                                             |                 |                        |                              | ASSET BACKED SECURITIES - 6.0%                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             | 2,000,000            | 0.98                        | AAA/Aa1                           | SLM Student Loan Trust 2004-10, Floating Rate Note, 4/27/26 (144A)                                                                                                                                                                                                                                                                 | $         | 2,023,562   |
|                                                                                                                                                             | 342,782              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 4.2%, 9/1/29                                                                                                                                                                                                                                                             | 366,342   |
|                                                                                                                                                             | 710,032              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 4.625%, 2/1/25                                                                                                                                                                                                                                                           | 753,442   |
|                                                                                                                                                             | 815,832              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 4.84%, 5/1/25                                                                                                                                                                                                                                                            | 877,517   |
|                                                                                                                                                             | 768,444              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 5.37%, 4/1/28                                                                                                                                                                                                                                                            | 850,094   |
|                                                                                                                                                             | 510,690              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 5.63%, 10/1/28                                                                                                                                                                                                                                                           | 570,567   |
|                                                                                                                                                             | 173,010              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 5.72%, 1/1/29                                                                                                                                                                                                                                                            | 192,872   |
|                                                                                                                                                             | 932,378              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 6.02%, 8/1/28                                                                                                                                                                                                                                                            | 1,058,462 |
|                                                                                                                                                             | 234,254              |                        | AA+/NR                            | Small Business Administration Participation Certificates, 6.14%, 1/1/22                                                                                                                                                                                                                                                            | 255,046   |
|                                                                                                                                                             | 545,596              |                        | AA+/Aaa                           | Small Business Administration Participation Certificates, 6.22%, 12/1/28                                                                                                                                                                                                                                                           | 625,981   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                              | (Cost $7,092,293)                                                                                                                                                                                                                                                                                                                  | $         | 7,573,885   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | COLLATERALIZED MORTGAGE OBLIGATIONS - 15.4%                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                             | 43,395               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp. REMICS, 5.0%, 6/15/34                                                                                                                                                                                                                                                                             | $         | 43,951      |
|                                                                                                                                                             | 197,501              | 0.56                        | AA+/NR                            | Federal Home Loan Mortgage Corp. REMICS, Floating Rate Note, 12/15/20                                                                                                                                                                                                                                                              | 198,823   |
|                                                                                                                                                             | 1,150,027            | 3.33                        | AA+/Aaa                           | Federal National Mortgage Association 2004-T2, Floating Rate Note, 7/25/43                                                                                                                                                                                                                                                         | 1,193,566 |
|                                                                                                                                                             | 1,923,441            |                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, 3.0%, 6/25/23                                                                                                                                                                                                                                                                        | 1,995,767 |
|                                                                                                                                                             | 141,794              |                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, 4.5%, 6/25/29                                                                                                                                                                                                                                                                        | 153,515   |
|                                                                                                                                                             | 3,664,293            |                        | AA+/NR                            | Federal National Mortgage Association, 4.92%, 7/25/20                                                                                                                                                                                                                                                                              |      | 3,663,076   |
|                                                                                                                                                             | 1,496,210            |                        | AA+/Aaa                           | Government National Mortgage Association REMICS, 2.1%, 2/16/48                                                                                                                                                                                                                                                                     | 1,493,248 |
|                                                                                                                                                             | 974,922              |                        | AA+/Aaa                           | Government National Mortgage Association REMICS, 3.25%, 4/16/27                                                                                                                                                                                                                                                                    | 1,000,129 |
|                                                                                                                                                             | 118,096              |                        | AA+/Aaa                           | Government National Mortgage Association, 5.25%, 8/16/35                                                                                                                                                                                                                                                                           |      | 131,870     |
|                                                                                                                                                             | 530,450              |                        | AA+/Aaa                           | Government National Mortgage Association, 6.0%, 6/16/32                                                                                                                                                                                                                                                                            |      | 595,855     |
|                                                                                                                                                             | 2,000,000            | 4.75                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 1/16/50                                                                                                                                                                                                                                                              | 2,154,474 |
|                                                                                                                                                             | 221,341              | 0.60                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 12/16/29                                                                                                                                                                                                                                                             | 222,634   |
|                                                                                                                                                             | 2,152,266            | 5.14                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 12/16/36                                                                                                                                                                                                                                                             | 2,245,977 |
|                                                                                                                                                             | 27,962               | 5.12                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 12/16/46                                                                                                                                                                                                                                                             | 27,969    |
|                                                                                                                                                             | 1,742,933            | 1.03                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 2/16/53 (c)                                                                                                                                                                                                                                                          | 137,854   |
|                                                                                                                                                             | 1,451,021            | 1.05                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 3/16/53 (c)                                                                                                                                                                                                                                                          | 110,270   |
|                                                                                                                                                             | 127,357              | 5.78                        | AA+/Aa1                           | Government National Mortgage Association, Floating Rate Note, 6/16/32                                                                                                                                                                                                                                                              | 130,044   |
|                                                                                                                                                             | 1,927,819            | 1.07                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 9/16/52 (c)                                                                                                                                                                                                                                                          | 157,528   |
|                                                                                                                                                             | 1,451,557            | 2.75                        | AA+/Aaa                           | La Hipotecaria Panamanian Mortgage Trust 2010-1, Floating Rate Note, 9/8/39 (144A)                                                                                                                                                                                                                                                 | 1,516,877 |
|                                                                                                                                                             | 698,627              |                        | AA+/Aaa                           | Vendee Mortgage Trust 2008-1, 5.25%, 1/15/32                                                                                                                                                                                                                                                                                       |      | 781,329     |
|                                                                                                                                                             | 1,450,562            |                        | AA+/Aaa                           | Vendee Mortgage Trust 2010-1, 4.25%, 2/15/35                                                                                                                                                                                                                                                                                       |      | 1,566,372   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                          |
|                                                                                                                                                             |                 |                        |                              | (Cost $19,271,175)                                                                                                                                                                                                                                                                                                                 | $         | 19,521,128  |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | CORPORATE BONDS - 0.6%                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                              | Diversified Financials - 0.2%                                                                                                                                                                                                                                                                                                      |      |        |
|                                                                                                                                                             |                 |                        |                              | Investment Banking & Brokerage - 0.2%                                                                                                                                                                                                                                                                                          |      |        |
|                                                                                                                                                             | 250,000              |                        | NR/Aa1                            | North American Development Bank, 2.3%, 10/10/18                                                                                                                                                                                                                                                                                    | $         | 247,858     |
|                                                                                                                                                             |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                       | $         | 247,858     |
|                                                                                                                                                             |                 |                        |                              | Government - 0.4%                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             |                 |                        |                              | Government - 0.4%                                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             | 564,621              |                        | AA+/Aaa                           | Helios Leasing I LLC, 2.018%, 5/29/24                                                                                                                                                                                                                                                                                              | $         | 553,797     |
|                                                                                                                                                             |                 |                        |                              | Total Government                                                                                                                                                                                                                                                                                                                   | $         | 553,797     |
|                                                                                                                                                             |                 |                        |                              | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                              | (Cost $814,181)                                                                                                                                                                                                                                                                                                                    | $         | 801,655     |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 68.5%                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                             | 1,348,800            |                        | AAA/Aaa                           | Fannie Mae, 3.763%, 12/1/20                                                                                                                                                                                                                                                                                                        | $         | 1,444,442   |
|                                                                                                                                                             | 2,730,408            |                        | AAA/Aaa                           | Fannie Mae, 4.0%, 10/1/41                                                                                                                                                                                                                                                                                                          |      | 2,862,961   |
|                                                                                                                                                             | 715,239              |                        | AAA/Aaa                           | Fannie Mae, 4.0%, 4/1/25                                                                                                                                                                                                                                                                                                           |      | 760,865     |
|                                                                                                                                                             | 3,828,276            |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 4/1/39                                                                                                                                                                                                                                                                                                           |      | 4,012,247   |
|                                                                                                                                                             | 2,241,426            |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 4/1/41                                                                                                                                                                                                                                                                                                           |      | 2,348,776   |
|                                                                                                                                                             | 1,000,000            |                        | AAA/Aaa                           | Fannie Mae, 4.0%, 5/12/14                                                                                                                                                                                                                                                                                                          |      | 1,047,695   |
|                                                                                                                                                             | 107,567              |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 9/1/20                                                                                                                                                                                                                                                                                                           |      | 114,056     |
|                                                                                                                                                             | 29,227               |                        | AA+/Aaa                           | Fannie Mae, 4.5%, 11/1/20                                                                                                                                                                                                                                                                                                          |      | 31,019      |
|                                                                                                                                                             | 4,972,998            |                        | AA+/Aaa                           | Fannie Mae, 4.5%, 12/1/43                                                                                                                                                                                                                                                                                                          |      | 5,375,636   |
|                                                                                                                                                             | 1,906,150            |                        | AAA/Aaa                           | Fannie Mae, 4.639%, 11/1/14                                                                                                                                                                                                                                                                                                        |      | 1,910,931   |
|                                                                                                                                                             | 933,930              |                        | AAA/Aaa                           | Fannie Mae, 4.987%, 6/1/15                                                                                                                                                                                                                                                                                                         |      | 959,427     |
|                                                                                                                                                             | 147,466              |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 1/1/20                                                                                                                                                                                                                                                                                                           |      | 158,850     |
|                                                                                                                                                             | 301,457              |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 10/1/34                                                                                                                                                                                                                                                                                                          |      | 330,149     |
|                                                                                                                                                             | 1,914,037            |                        | AAA/Aaa                           | Fannie Mae, 5.0%, 2/1/39                                                                                                                                                                                                                                                                                                           |      | 2,107,473   |
|                                                                                                                                                             | 147,555              |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 3/1/23                                                                                                                                                                                                                                                                                                           |      | 160,226     |
|                                                                                                                                                             | 338,706              |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 7/1/34                                                                                                                                                                                                                                                                                                           |      | 370,971     |
|                                                                                                                                                             | 164,824              |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 8/1/18                                                                                                                                                                                                                                                                                                           |      | 174,963     |
|                                                                                                                                                             | 235,053              |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 2/1/25                                                                                                                                                                                                                                                                                                           |      | 259,798     |
|                                                                                                                                                             | 68,821               |                        | AAA/Aaa                           | Fannie Mae, 5.72%, 11/1/28                                                                                                                                                                                                                                                                                                         |      | 77,235      |
|                                                                                                                                                             | 53,904               |                        | AAA/Aaa                           | Fannie Mae, 5.72%, 6/1/29                                                                                                                                                                                                                                                                                                          |      | 60,528      |
|                                                                                                                                                             | 65,242               |                        | AA+/Aaa                           | Fannie Mae, 5.75%, 3/1/33                                                                                                                                                                                                                                                                                                          |      | 73,501      |
|                                                                                                                                                             | 34,967               |                        | AAA/Aaa                           | Fannie Mae, 5.9%, 11/1/27                                                                                                                                                                                                                                                                                                          |      | 39,337      |
|                                                                                                                                                             | 33,605               |                        | AAA/Aaa                           | Fannie Mae, 5.9%, 2/1/28                                                                                                                                                                                                                                                                                                           |      | 37,798      |
|                                                                                                                                                             | 95,323               |                        | AAA/Aaa                           | Fannie Mae, 5.9%, 4/1/28                                                                                                                                                                                                                                                                                                           |      | 107,213     |
|                                                                                                                                                             | 392,194              |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 11/1/34                                                                                                                                                                                                                                                                                                          |      | 441,786     |
|                                                                                                                                                             | 80,501               |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 11/1/34                                                                                                                                                                                                                                                                                                          |      | 89,876      |
|                                                                                                                                                             | 81,589               |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 12/1/37                                                                                                                                                                                                                                                                                                          |      | 91,075      |
|                                                                                                                                                             | 122,149              |                        | AA+/Aaa                           | Fannie Mae, 6.5%, 11/1/47                                                                                                                                                                                                                                                                                                          |      | 133,608     |
|                                                                                                                                                             | 150,284              |                        | AA+/Aaa                           | Fannie Mae, 6.5%, 7/1/32                                                                                                                                                                                                                                                                                                           |      | 172,566     |
|                                                                                                                                                             | 127,611              |                        | AAA/Aaa                           | Fannie Mae, 7.0%, 10/1/19                                                                                                                                                                                                                                                                                                          |      | 139,052     |
|                                                                                                                                                             | 6,843                |                        | AA+/Aaa                           | Fannie Mae, 7.5%, 4/1/15                                                                                                                                                                                                                                                                                                           |      | 6,969       |
|                                                                                                                                                             | 5,245                |                        | AA+/Aaa                           | Fannie Mae, 7.5%, 6/1/15                                                                                                                                                                                                                                                                                                           |      | 5,351       |
|                                                                                                                                                             | 8,112                |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 7/1/15                                                                                                                                                                                                                                                                                                           |      | 8,309       |
|                                                                                                                                                             | 966,100              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.0%, 6/1/42                                                                                                                                                                                                                                                                                     |      | 1,011,789   |
|                                                                                                                                                             | 167,032              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 5.0%, 10/1/38                                                                                                                                                                                                                                                                                    |      | 182,477     |
|                                                                                                                                                             | 155,098              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 5.0%, 9/1/38                                                                                                                                                                                                                                                                                     |      | 169,456     |
|                                                                                                                                                             | 30,626               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 5.5%, 1/1/34                                                                                                                                                                                                                                                                                     |      | 34,020      |
|                                                                                                                                                             | 134,345              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 1/1/33                                                                                                                                                                                                                                                                                     |      | 151,671     |
|                                                                                                                                                             | 213,360              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 1/1/38                                                                                                                                                                                                                                                                                     |      | 237,117     |
|                                                                                                                                                             | 84,271               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 11/1/33                                                                                                                                                                                                                                                                                    |      | 95,169      |
|                                                                                                                                                             | 13,207               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 5/1/16                                                                                                                                                                                                                                                                                     |      | 13,631      |
|                                                                                                                                                             | 12,388               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 6/1/16                                                                                                                                                                                                                                                                                     |      | 12,817      |
|                                                                                                                                                             | 117,876              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 7/1/36                                                                                                                                                                                                                                                                                     |      | 132,909     |
|                                                                                                                                                             | 30,512               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 7/1/36                                                                                                                                                                                                                                                                                     |      | 34,282      |
|                                                                                                                                                             | 227,712              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 7/1/38                                                                                                                                                                                                                                                                                     |      | 254,569     |
|                                                                                                                                                             | 25,451               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 8/1/18                                                                                                                                                                                                                                                                                     |      | 28,295      |
|                                                                                                                                                             | 16,125               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 6.5%, 5/1/31                                                                                                                                                                                                                                                                                     |      | 18,368      |
|                                                                                                                                                             | 76,158               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 7.0%, 10/1/46                                                                                                                                                                                                                                                                                    |      | 84,934      |
|                                                                                                                                                             | 4,919                |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 7.0%, 6/1/31                                                                                                                                                                                                                                                                                     |      | 4,936       |
|                                                                                                                                                             | 1,322,919            |                        | AA+/Aaa                           | Federal National Mortgage Association, 3.0%, 12/1/21                                                                                                                                                                                                                                                                               |      | 1,381,674   |
|                                                                                                                                                             | 1,000,000            |                        | AA+/Aaa                           | Financing Corp. Fico, 4/6/18 (d)                                                                                                                                                                                                                                                                                                   |      | 935,103     |
|                                                                                                                                                             | 2,000,000            |                        | AA+/NR                            | Financing Corp. Fico, 5/11/18 (d)                                                                                                                                                                                                                                                                                                  |      | 1,864,830   |
|                                                                                                                                                             | 996,984              |                        | AAA/Aaa                           | Government National Mortgage Association I, 3.5%, 1/15/44                                                                                                                                                                                                                                                                          |      | 1,027,781   |
|                                                                                                                                                             | 35,310               |                        | AAA/Aaa                           | Government National Mortgage Association I, 4.5%, 12/15/19                                                                                                                                                                                                                                                                         |      | 37,429      |
|                                                                                                                                                             | 52,196               |                        | AAA/Aaa                           | Government National Mortgage Association I, 4.5%, 4/15/18                                                                                                                                                                                                                                                                          |      | 54,730      |
|                                                                                                                                                             | 97,300               |                        | AAA/Aaa                           | Government National Mortgage Association I, 4.5%, 4/15/20                                                                                                                                                                                                                                                                          |      | 103,655     |
|                                                                                                                                                             | 94,234               |                        | AAA/Aaa                           | Government National Mortgage Association I, 4.5%, 6/15/19                                                                                                                                                                                                                                                                          |      | 99,403      |
|                                                                                                                                                             | 411,538              |                        | AA+/Aaa                           | Government National Mortgage Association I, 4.5%, 6/15/25                                                                                                                                                                                                                                                                          |      | 438,408     |
|                                                                                                                                                             | 32,698               |                        | AA+/Aaa                           | Government National Mortgage Association I, 4.5%, 8/15/19                                                                                                                                                                                                                                                                          |      | 34,393      |
|                                                                                                                                                             | 120,681              |                        | AA+/Aaa                           | Government National Mortgage Association I, 5.0%, 2/15/19                                                                                                                                                                                                                                                                          |      | 128,478     |
|                                                                                                                                                             | 430,346              |                        | AA+/Aaa                           | Government National Mortgage Association I, 5.0%, 7/15/40                                                                                                                                                                                                                                                                          |      | 473,986     |
|                                                                                                                                                             | 59,908               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 1/15/29                                                                                                                                                                                                                                                                          |      | 66,550      |
|                                                                                                                                                             | 124,690              |                        | AA+/Aaa                           | Government National Mortgage Association I, 5.5%, 10/15/19                                                                                                                                                                                                                                                                         |      | 132,679     |
|                                                                                                                                                             | 100,061              |                        | AA+/Aaa                           | Government National Mortgage Association I, 5.5%, 10/15/33                                                                                                                                                                                                                                                                         |      | 112,110     |
|                                                                                                                                                             | 66,651               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 10/15/34                                                                                                                                                                                                                                                                         |      | 74,686      |
|                                                                                                                                                             | 57,865               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 4/15/19                                                                                                                                                                                                                                                                          |      | 61,487      |
|                                                                                                                                                             | 41,965               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 4/15/31                                                                                                                                                                                                                                                                          |      | 46,625      |
|                                                                                                                                                             | 34,057               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 6/15/18                                                                                                                                                                                                                                                                          |      | 36,173      |
|                                                                                                                                                             | 196,632              |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 8/15/33                                                                                                                                                                                                                                                                          |      | 220,641     |
|                                                                                                                                                             | 84,983               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 9/15/33                                                                                                                                                                                                                                                                          |      | 96,036      |
|                                                                                                                                                             | 24,515               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.72%, 4/15/29                                                                                                                                                                                                                                                                         |      | 27,206      |
|                                                                                                                                                             | 24,751               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 1/15/24                                                                                                                                                                                                                                                                          |      | 27,778      |
|                                                                                                                                                             | 43,734               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 1/15/33                                                                                                                                                                                                                                                                          |      | 49,675      |
|                                                                                                                                                             | 89,165               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 1/15/33                                                                                                                                                                                                                                                                          |      | 102,765     |
|                                                                                                                                                             | 9,382                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/28                                                                                                                                                                                                                                                                         |      | 10,584      |
|                                                                                                                                                             | 24,789               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 28,151      |
|                                                                                                                                                             | 78,284               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 87,762      |
|                                                                                                                                                             | 125,478              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/32                                                                                                                                                                                                                                                                         |      | 140,638     |
|                                                                                                                                                             | 91,190               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 102,193     |
|                                                                                                                                                             | 85,430               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 96,949      |
|                                                                                                                                                             | 223,800              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/34                                                                                                                                                                                                                                                                         |      | 256,207     |
|                                                                                                                                                             | 13,921               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 11/15/32                                                                                                                                                                                                                                                                         |      | 16,038      |
|                                                                                                                                                             | 12,578               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 11/15/32                                                                                                                                                                                                                                                                         |      | 14,490      |
|                                                                                                                                                             | 193,229              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 11/15/33                                                                                                                                                                                                                                                                         |      | 219,478     |
|                                                                                                                                                             | 100,121              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 11/15/37                                                                                                                                                                                                                                                                         |      | 112,214     |
|                                                                                                                                                             | 288,968              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/23                                                                                                                                                                                                                                                                         |      | 325,194     |
|                                                                                                                                                             | 230,385              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 258,223     |
|                                                                                                                                                             | 458,470              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 521,685     |
|                                                                                                                                                             | 140,271              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 158,852     |
|                                                                                                                                                             | 30,019               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 34,578      |
|                                                                                                                                                             | 138,461              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 157,608     |
|                                                                                                                                                             | 282,877              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 321,977     |
|                                                                                                                                                             | 25,330               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 12/15/32                                                                                                                                                                                                                                                                         |      | 28,765      |
|                                                                                                                                                             | 106,310              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 2/15/29                                                                                                                                                                                                                                                                          |      | 122,086     |
|                                                                                                                                                             | 129,637              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 148,511     |
|                                                                                                                                                             | 34,086               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 38,198      |
|                                                                                                                                                             | 213,920              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 246,452     |
|                                                                                                                                                             | 117,014              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 2/15/33                                                                                                                                                                                                                                                                          |      | 132,911     |
|                                                                                                                                                             | 70,576               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/19                                                                                                                                                                                                                                                                          |      | 78,988      |
|                                                                                                                                                             | 55,357               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/19                                                                                                                                                                                                                                                                          |      | 61,955      |
|                                                                                                                                                             | 116,485              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 130,550     |
|                                                                                                                                                             | 60,481               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 68,697      |
|                                                                                                                                                             | 48,289               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/33                                                                                                                                                                                                                                                                          |      | 54,121      |
|                                                                                                                                                             | 286,910              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 3/15/34                                                                                                                                                                                                                                                                          |      | 329,541     |
|                                                                                                                                                             | 77,902               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 4/15/28                                                                                                                                                                                                                                                                          |      | 89,406      |
|                                                                                                                                                             | 29,473               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 4/15/33                                                                                                                                                                                                                                                                          |      | 33,467      |
|                                                                                                                                                             | 50,837               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 5/15/33                                                                                                                                                                                                                                                                          |      | 57,742      |
|                                                                                                                                                             | 121,700              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 6/15/31                                                                                                                                                                                                                                                                          |      | 136,417     |
|                                                                                                                                                             | 104,492              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 6/15/34                                                                                                                                                                                                                                                                          |      | 120,314     |
|                                                                                                                                                             | 62,888               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 8/15/34                                                                                                                                                                                                                                                                          |      | 72,410      |
|                                                                                                                                                             | 217,852              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 8/15/34                                                                                                                                                                                                                                                                          |      | 247,631     |
|                                                                                                                                                             | 220,917              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 8/15/38                                                                                                                                                                                                                                                                          |      | 247,275     |
|                                                                                                                                                             | 382,673              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/32                                                                                                                                                                                                                                                                          |      | 435,609     |
|                                                                                                                                                             | 115,863              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/32                                                                                                                                                                                                                                                                          |      | 131,558     |
|                                                                                                                                                             | 36,558               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/33                                                                                                                                                                                                                                                                          |      | 41,511      |
|                                                                                                                                                             | 44,492               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/34                                                                                                                                                                                                                                                                          |      | 51,202      |
|                                                                                                                                                             | 190,557              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/35                                                                                                                                                                                                                                                                          |      | 219,385     |
|                                                                                                                                                             | 572                  |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 1/15/15                                                                                                                                                                                                                                                                          |      | 573         |
|                                                                                                                                                             | 57,891               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 1/15/32                                                                                                                                                                                                                                                                          |      | 65,408      |
|                                                                                                                                                             | 4,883                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 1/15/32                                                                                                                                                                                                                                                                          |      | 5,517       |
|                                                                                                                                                             | 47,032               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 10/15/24                                                                                                                                                                                                                                                                         |      | 53,403      |
|                                                                                                                                                             | 32,081               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                         |      | 37,096      |
|                                                                                                                                                             | 8,347                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                         |      | 9,430       |
|                                                                                                                                                             | 2,593                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 10/15/31                                                                                                                                                                                                                                                                         |      | 2,929       |
|                                                                                                                                                             | 139,037              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 11/15/31                                                                                                                                                                                                                                                                         |      | 157,214     |
|                                                                                                                                                             | 34,032               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 12/15/31                                                                                                                                                                                                                                                                         |      | 38,480      |
|                                                                                                                                                             | 32,089               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/28                                                                                                                                                                                                                                                                          |      | 36,247      |
|                                                                                                                                                             | 35,495               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/29                                                                                                                                                                                                                                                                          |      | 41,041      |
|                                                                                                                                                             | 56,285               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 63,632      |
|                                                                                                                                                             | 40,863               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 46,289      |
|                                                                                                                                                             | 29,805               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 33,797      |
|                                                                                                                                                             | 10,817               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 12,225      |
|                                                                                                                                                             | 23,910               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 2/15/32                                                                                                                                                                                                                                                                          |      | 27,407      |
|                                                                                                                                                             | 28,229               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 3/15/29                                                                                                                                                                                                                                                                          |      | 31,895      |
|                                                                                                                                                             | 98,614               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 3/15/29                                                                                                                                                                                                                                                                          |      | 111,459     |
|                                                                                                                                                             | 110,770              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 3/15/32                                                                                                                                                                                                                                                                          |      | 125,207     |
|                                                                                                                                                             | 22,527               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/17                                                                                                                                                                                                                                                                          |      | 23,566      |
|                                                                                                                                                             | 19,123               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/28                                                                                                                                                                                                                                                                          |      | 21,605      |
|                                                                                                                                                             | 86,358               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/28                                                                                                                                                                                                                                                                          |      | 97,539      |
|                                                                                                                                                             | 118,313              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 137,436     |
|                                                                                                                                                             | 12,711               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 14,360      |
|                                                                                                                                                             | 27,757               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/32                                                                                                                                                                                                                                                                          |      | 31,525      |
|                                                                                                                                                             | 56,035               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 4/15/33                                                                                                                                                                                                                                                                          |      | 63,329      |
|                                                                                                                                                             | 8,353                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/29                                                                                                                                                                                                                                                                          |      | 9,437       |
|                                                                                                                                                             | 43,016               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/31                                                                                                                                                                                                                                                                          |      | 48,600      |
|                                                                                                                                                             | 21,969               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 25,641      |
|                                                                                                                                                             | 9,393                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 10,614      |
|                                                                                                                                                             | 46,947               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 53,064      |
|                                                                                                                                                             | 18,707               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/32                                                                                                                                                                                                                                                                          |      | 21,140      |
|                                                                                                                                                             | 16,257               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/17                                                                                                                                                                                                                                                                          |      | 16,306      |
|                                                                                                                                                             | 15,040               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/28                                                                                                                                                                                                                                                                          |      | 17,261      |
|                                                                                                                                                             | 29,510               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/29                                                                                                                                                                                                                                                                          |      | 33,356      |
|                                                                                                                                                             | 10,482               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/31                                                                                                                                                                                                                                                                          |      | 11,845      |
|                                                                                                                                                             | 23,036               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                          |      | 26,041      |
|                                                                                                                                                             | 18,134               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                          |      | 20,502      |
|                                                                                                                                                             | 48,330               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 7/15/31                                                                                                                                                                                                                                                                          |      | 54,626      |
|                                                                                                                                                             | 15,319               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 7/15/32                                                                                                                                                                                                                                                                          |      | 17,318      |
|                                                                                                                                                             | 9,746                |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 7/15/32                                                                                                                                                                                                                                                                          |      | 11,018      |
|                                                                                                                                                             | 13,555               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 8/15/28                                                                                                                                                                                                                                                                          |      | 15,310      |
|                                                                                                                                                             | 18,308               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 8/15/31                                                                                                                                                                                                                                                                          |      | 20,689      |
|                                                                                                                                                             | 43,522               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 8/15/32                                                                                                                                                                                                                                                                          |      | 49,196      |
|                                                                                                                                                             | 67,488               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 8/15/32                                                                                                                                                                                                                                                                          |      | 78,775      |
|                                                                                                                                                             | 31,007               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 9/15/31                                                                                                                                                                                                                                                                          |      | 35,038      |
|                                                                                                                                                             | 26,011               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 30,459      |
|                                                                                                                                                             | 53,473               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 60,454      |
|                                                                                                                                                             | 67,378               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 9/15/32                                                                                                                                                                                                                                                                          |      | 76,159      |
|                                                                                                                                                             | 107,713              |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.75%, 4/15/26                                                                                                                                                                                                                                                                         |      | 121,725     |
|                                                                                                                                                             | 24,324               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 1/15/28                                                                                                                                                                                                                                                                          |      | 27,210      |
|                                                                                                                                                             | 150,409              |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 1/15/31                                                                                                                                                                                                                                                                          |      | 163,372     |
|                                                                                                                                                             | 7,144                |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 10/15/16                                                                                                                                                                                                                                                                         |      | 7,168       |
|                                                                                                                                                             | 16,727               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 11/15/26                                                                                                                                                                                                                                                                         |      | 19,187      |
|                                                                                                                                                             | 73,391               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 11/15/29                                                                                                                                                                                                                                                                         |      | 82,487      |
|                                                                                                                                                             | 19,368               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 11/15/31                                                                                                                                                                                                                                                                         |      | 21,749      |
|                                                                                                                                                             | 34,681               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 36,002      |
|                                                                                                                                                             | 43,226               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 44,565      |
|                                                                                                                                                             | 59,320               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 12/15/30                                                                                                                                                                                                                                                                         |      | 69,923      |
|                                                                                                                                                             | 29,576               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 2/15/28                                                                                                                                                                                                                                                                          |      | 33,010      |
|                                                                                                                                                             | 28,769               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 3/15/28                                                                                                                                                                                                                                                                          |      | 32,113      |
|                                                                                                                                                             | 62,529               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 3/15/32                                                                                                                                                                                                                                                                          |      | 70,137      |
|                                                                                                                                                             | 36,095               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 4/15/28                                                                                                                                                                                                                                                                          |      | 40,259      |
|                                                                                                                                                             | 46,953               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 4/15/29                                                                                                                                                                                                                                                                          |      | 52,468      |
|                                                                                                                                                             | 25,888               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 4/15/31                                                                                                                                                                                                                                                                          |      | 29,030      |
|                                                                                                                                                             | 50,407               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 4/15/32                                                                                                                                                                                                                                                                          |      | 56,673      |
|                                                                                                                                                             | 72,803               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 5/15/29                                                                                                                                                                                                                                                                          |      | 81,291      |
|                                                                                                                                                             | 12,306               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 5/15/31                                                                                                                                                                                                                                                                          |      | 13,458      |
|                                                                                                                                                             | 35,890               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 6/15/27                                                                                                                                                                                                                                                                          |      | 41,781      |
|                                                                                                                                                             | 5,822                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 6/15/29                                                                                                                                                                                                                                                                          |      | 5,893       |
|                                                                                                                                                             | 52,527               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 7/15/25                                                                                                                                                                                                                                                                          |      | 59,438      |
|                                                                                                                                                             | 7,254                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 7/15/28                                                                                                                                                                                                                                                                          |      | 7,344       |
|                                                                                                                                                             | 41,328               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 7/15/28                                                                                                                                                                                                                                                                          |      | 48,765      |
|                                                                                                                                                             | 22,623               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 7/15/29                                                                                                                                                                                                                                                                          |      | 26,656      |
|                                                                                                                                                             | 36,627               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 8/15/23                                                                                                                                                                                                                                                                          |      | 40,344      |
|                                                                                                                                                             | 110,079              |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.0%, 9/15/24                                                                                                                                                                                                                                                                          |      | 127,605     |
|                                                                                                                                                             | 55,623               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 9/15/31                                                                                                                                                                                                                                                                          |      | 62,426      |
|                                                                                                                                                             | 57,296               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 10/15/23                                                                                                                                                                                                                                                                         |      | 65,632      |
|                                                                                                                                                             | 73,352               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 10/15/27                                                                                                                                                                                                                                                                         |      | 83,739      |
|                                                                                                                                                             | 14,801               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 10/15/29                                                                                                                                                                                                                                                                         |      | 16,764      |
|                                                                                                                                                             | 16,510               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 11/15/30                                                                                                                                                                                                                                                                         |      | 17,003      |
|                                                                                                                                                             | 4,925                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 12/15/25                                                                                                                                                                                                                                                                         |      | 5,161       |
|                                                                                                                                                             | 34,339               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 2/15/27                                                                                                                                                                                                                                                                          |      | 38,927      |
|                                                                                                                                                             | 17,590               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 2/15/31                                                                                                                                                                                                                                                                          |      | 18,564      |
|                                                                                                                                                             | 11,882               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 3/15/23                                                                                                                                                                                                                                                                          |      | 13,112      |
|                                                                                                                                                             | 51,568               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 3/15/27                                                                                                                                                                                                                                                                          |      | 61,005      |
|                                                                                                                                                             | 10,843               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 3/15/31                                                                                                                                                                                                                                                                          |      | 11,774      |
|                                                                                                                                                             | 30,636               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 4/15/23                                                                                                                                                                                                                                                                          |      | 31,192      |
|                                                                                                                                                             | 1,922                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 6/15/24                                                                                                                                                                                                                                                                          |      | 2,011       |
|                                                                                                                                                             | 18,726               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 6/15/29                                                                                                                                                                                                                                                                          |      | 21,236      |
|                                                                                                                                                             | 12,435               |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 8/15/25                                                                                                                                                                                                                                                                          |      | 12,852      |
|                                                                                                                                                             | 1,295                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 8/15/29                                                                                                                                                                                                                                                                          |      | 1,316       |
|                                                                                                                                                             | 3,141                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 8/15/29                                                                                                                                                                                                                                                                          |      | 3,243       |
|                                                                                                                                                             | 10,342               |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 9/15/25                                                                                                                                                                                                                                                                          |      | 11,652      |
|                                                                                                                                                             | 5,502                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.5%, 9/15/25                                                                                                                                                                                                                                                                          |      | 5,523       |
|                                                                                                                                                             | 108,956              |                        | AAA/Aaa                           | Government National Mortgage Association I, 7.5%, 9/15/29                                                                                                                                                                                                                                                                          |      | 123,462     |
|                                                                                                                                                             | 60,744               |                        | AAA/Aaa                           | Government National Mortgage Association I, 8.25%, 5/15/20                                                                                                                                                                                                                                                                         |      | 68,954      |
|                                                                                                                                                             | 2,452                |                        | AAA/Aaa                           | Government National Mortgage Association I, 8.5%, 8/15/21                                                                                                                                                                                                                                                                          |      | 2,478       |
|                                                                                                                                                             | 12,002               |                        | AAA/Aaa                           | Government National Mortgage Association I, 9.0%, 1/15/20                                                                                                                                                                                                                                                                          |      | 12,400      |
|                                                                                                                                                             | 1,605                |                        | AAA/Aaa                           | Government National Mortgage Association I, 9.0%, 12/15/19                                                                                                                                                                                                                                                                         |      | 1,798       |
|                                                                                                                                                             | 72                   |                        | AAA/Aaa                           | Government National Mortgage Association I, 9.0%, 4/15/20                                                                                                                                                                                                                                                                          |      | 73          |
|                                                                                                                                                             | 2,591                |                        | AAA/Aaa                           | Government National Mortgage Association I, 9.0%, 6/15/22                                                                                                                                                                                                                                                                          |      | 2,734       |
|                                                                                                                                                             | 363                  |                        | AAA/Aaa                           | Government National Mortgage Association I, 9.0%, 9/15/21                                                                                                                                                                                                                                                                          |      | 407         |
|                                                                                                                                                             | 60,475               |                        | AA+/Aaa                           | Government National Mortgage Association II, 5.0%, 1/20/20                                                                                                                                                                                                                                                                         |      | 64,663      |
|                                                                                                                                                             | 160,417              |                        | AA+/Aaa                           | Government National Mortgage Association II, 5.0%, 12/20/18                                                                                                                                                                                                                                                                        | 170,846   |
|                                                                                                                                                             | 112,756              |                        | AA+/Aaa                           | Government National Mortgage Association II, 5.0%, 2/20/19                                                                                                                                                                                                                                                                         |      | 120,051     |
|                                                                                                                                                             | 293,123              |                        | AA+/Aaa                           | Government National Mortgage Association II, 5.5%, 10/20/37                                                                                                                                                                                                                                                                        | 325,934   |
|                                                                                                                                                             | 71,042               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.75%, 4/20/33                                                                                                                                                                                                                                                                        | 79,544    |
|                                                                                                                                                             | 70,128               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.75%, 4/20/33                                                                                                                                                                                                                                                                        | 78,388    |
|                                                                                                                                                             | 161,774              |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.75%, 6/20/33                                                                                                                                                                                                                                                                        | 181,136   |
|                                                                                                                                                             | 31,076               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.9%, 1/20/28                                                                                                                                                                                                                                                                         |      | 34,728      |
|                                                                                                                                                             | 67,335               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.9%, 11/20/27                                                                                                                                                                                                                                                                        | 74,293    |
|                                                                                                                                                             | 51,254               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.9%, 5/20/28                                                                                                                                                                                                                                                                         |      | 56,926      |
|                                                                                                                                                             | 128,252              |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.9%, 7/20/28                                                                                                                                                                                                                                                                         |      | 140,431     |
|                                                                                                                                                             | 149,276              |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 1/20/33                                                                                                                                                                                                                                                                         |      | 168,359     |
|                                                                                                                                                             | 37,579               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 10/20/31                                                                                                                                                                                                                                                                        | 42,424    |
|                                                                                                                                                             | 176,761              |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 10/20/33                                                                                                                                                                                                                                                                        | 203,579   |
|                                                                                                                                                             | 77,998               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 12/20/18                                                                                                                                                                                                                                                                        | 82,029    |
|                                                                                                                                                             | 103,780              |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 6/20/34                                                                                                                                                                                                                                                                         |      | 119,495     |
|                                                                                                                                                             | 20,796               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 7/20/17                                                                                                                                                                                                                                                                         |      | 21,660      |
|                                                                                                                                                             | 46,833               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.0%, 7/20/19                                                                                                                                                                                                                                                                         |      | 49,614      |
|                                                                                                                                                             | 94,219               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.45%, 1/20/33                                                                                                                                                                                                                                                                        | 106,254   |
|                                                                                                                                                             | 52,114               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.45%, 11/20/32                                                                                                                                                                                                                                                                       | 58,813    |
|                                                                                                                                                             | 53,122               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.45%, 7/20/32                                                                                                                                                                                                                                                                        | 59,909    |
|                                                                                                                                                             | 42,781               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.5%, 1/20/24                                                                                                                                                                                                                                                                         |      | 48,265      |
|                                                                                                                                                             | 68,871               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.5%, 10/20/32                                                                                                                                                                                                                                                                        | 80,184    |
|                                                                                                                                                             | 78,686               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.5%, 3/20/34                                                                                                                                                                                                                                                                         |      | 89,430      |
|                                                                                                                                                             | 22,357               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.5%, 4/20/31                                                                                                                                                                                                                                                                         |      | 25,577      |
|                                                                                                                                                             | 16,439               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.5%, 6/20/31                                                                                                                                                                                                                                                                         |      | 18,969      |
|                                                                                                                                                             | 76,220               |                        | AA+/Aaa                           | Government National Mortgage Association II, 6.5%, 8/20/28                                                                                                                                                                                                                                                                         |      | 87,936      |
|                                                                                                                                                             | 17,817               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 1/20/31                                                                                                                                                                                                                                                                         |      | 20,919      |
|                                                                                                                                                             | 15,810               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 11/20/31                                                                                                                                                                                                                                                                        | 18,767    |
|                                                                                                                                                             | 11,193               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 2/20/29                                                                                                                                                                                                                                                                         |      | 13,209      |
|                                                                                                                                                             | 8,285                |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 3/20/31                                                                                                                                                                                                                                                                         |      | 9,792       |
|                                                                                                                                                             | 16,232               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 5/20/26                                                                                                                                                                                                                                                                         |      | 18,849      |
|                                                                                                                                                             | 34,124               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 6/20/28                                                                                                                                                                                                                                                                         |      | 39,969      |
|                                                                                                                                                             | 37,893               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 7/20/31                                                                                                                                                                                                                                                                         |      | 44,970      |
|                                                                                                                                                             | 32,910               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.0%, 8/20/27                                                                                                                                                                                                                                                                         |      | 38,566      |
|                                                                                                                                                             | 10,126               |                        | AAA/Aaa                           | Government National Mortgage Association II, 7.5%, 12/20/30                                                                                                                                                                                                                                                                        | 12,216    |
|                                                                                                                                                             | 17,205               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.5%, 5/20/30                                                                                                                                                                                                                                                                         |      | 20,679      |
|                                                                                                                                                             | 5,263                |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.5%, 6/20/30                                                                                                                                                                                                                                                                         |      | 6,338       |
|                                                                                                                                                             | 16,506               |                        | AAA/Aaa                           | Government National Mortgage Association II, 7.5%, 7/20/30                                                                                                                                                                                                                                                                         |      | 19,792      |
|                                                                                                                                                             | 17,843               |                        | AA+/Aaa                           | Government National Mortgage Association II, 7.5%, 8/20/30                                                                                                                                                                                                                                                                         |      | 21,570      |
|                                                                                                                                                             | 14,103               |                        | AA+/Aaa                           | Government National Mortgage Association II, 8.0%, 3/20/30                                                                                                                                                                                                                                                                         |      | 17,151      |
|                                                                                                                                                             | 34,333               |                        | AA+/Aaa                           | Government National Mortgage Association II, 8.0%, 4/20/30                                                                                                                                                                                                                                                                         |      | 41,902      |
|                                                                                                                                                             | 64                   |                        | AA+/Aaa                           | Government National Mortgage Association II, 8.0%, 5/20/25                                                                                                                                                                                                                                                                         |      | 73          |
|                                                                                                                                                             | 18,461               |                        | AA+/Aaa                           | Government National Mortgage Association II, 8.0%, 5/20/30                                                                                                                                                                                                                                                                         |      | 22,514      |
|                                                                                                                                                             | 21,353               |                        | AA+/Aaa                           | Government National Mortgage Association II, 8.0%, 6/20/30                                                                                                                                                                                                                                                                         |      | 26,138      |
|                                                                                                                                                             | 3,022                |                        | AA+/Aaa                           | Government National Mortgage Association II, 9.0%, 11/20/24                                                                                                                                                                                                                                                                        | 3,036     |
|                                                                                                                                                             | 5,796                |                        | AA+/Aaa                           | Government National Mortgage Association II, 9.0%, 3/20/22                                                                                                                                                                                                                                                                         |      | 5,990       |
|                                                                                                                                                             | 950                  |                        | AAA/Aaa                           | Government National Mortgage Association II, 9.0%, 4/20/22                                                                                                                                                                                                                                                                         |      | 966         |
|                                                                                                                                                             | 2,049                |                        | AA+/Aaa                           | Government National Mortgage Association II, 9.0%, 9/20/21                                                                                                                                                                                                                                                                         |      | 2,289       |
|                                                                                                                                                             | 600,000              |                        | AA+/Aaa                           | Private Export Funding Corp., 2.25%, 12/15/17                                                                                                                                                                                                                                                                                      |      | 620,374     |
|                                                                                                                                                             | 1,300,000            |                        | AA+/Aaa                           | Private Export Funding Corp., 2.8%, 5/15/22                                                                                                                                                                                                                                                                                        |      | 1,302,369   |
|                                                                                                                                                             | 3,420,000            |                        | AA+/Aaa                           | Private Export Funding Corp., 4.3%, 12/15/21                                                                                                                                                                                                                                                                                       |      | 3,822,144   |
|                                                                                                                                                             | 5,750,000            |                        | AA+/Aaa                           | Private Export Funding Corp., 4.375%, 3/15/19                                                                                                                                                                                                                                                                                      |      | 6,449,051   |
|                                                                                                                                                             | 1,655,000            |                        | AA+/Aaa                           | Private Export Funding Corp., 5.45%, 9/15/17                                                                                                                                                                                                                                                                                       |      | 1,879,509   |
|                                                                                                                                                             | 1,259,282            |                        | AA-/Aaa                           | Tennessee Valley Authority, 4.929%, 1/15/21                                                                                                                                                                                                                                                                                        |      | 1,399,829   |
|                                                                                                                                                             | 800,000              |                        | AA+/Aaa                           | Tennessee Valley Authority, 5.5%, 6/15/38                                                                                                                                                                                                                                                                                          |      | 958,369     |
|                                                                                                                                                             | 750,000              |                        | AA+/NR                            | Tennessee Valley Authority, 6.25%, 12/15/17                                                                                                                                                                                                                                                                                        |      | 877,827     |
|                                                                                                                                                             | 1,500,000            |                        | AA+/Aaa                           | U.S. Treasury Bonds, 3.0%, 5/15/42                                                                                                                                                                                                                                                                                                 |      | 1,381,641   |
|                                                                                                                                                             | 2,500,000            |                        | AA+/Aaa                           | U.S. Treasury Bonds, 4.25%, 5/15/39                                                                                                                                                                                                                                                                                                |      | 2,877,345   |
|                                                                                                                                                             | 1,650,000            |                        | AA+/Aaa                           | U.S. Treasury Bonds, 4.5%, 5/15/38                                                                                                                                                                                                                                                                                                 |      | 1,968,656   |
|                                                                                                                                                             | 4,000,000            |                        | AA+/Aaa                           | U.S. Treasury Notes, 0.625%, 5/31/17                                                                                                                                                                                                                                                                                               |      | 3,963,752   |
|                                                                                                                                                             | 1,000,000            |                        | AA+/Aaa                           | U.S. Treasury Notes, 0.875%, 12/31/16                                                                                                                                                                                                                                                                                              |      | 1,003,750   |
|                                                                                                                                                             | 5,200,000            |                        | AA+/Aaa                           | U.S. Treasury Notes, 1.875%, 8/31/17                                                                                                                                                                                                                                                                                               |      | 5,342,189   |
|                                                                                                                                                             | 3,500,000            |                        | AA+/Aaa                           | U.S. Treasury Notes, 2.625%, 11/15/20                                                                                                                                                                                                                                                                                              |      | 3,609,102   |
|                                                                                                                                                             |                 |                        |                              | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                             |                 |                        |                              | (Cost $84,290,358)                                                                                                                                                                                                                                                                                                                 | $         | 86,740,521  |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | FOREIGN GOVERNMENT BONDS - 4.7%                                                                                                                                                                                                                                                                                                    |      |        |
|                                                                                                                                                             | 3,000,000            |                        | AA+/Aaa                           | Israel Government AID Bond, 5.5%, 4/26/24                                                                                                                                                                                                                                                                                          | $         | 3,616,038   |
|                                                                                                                                                             | 2,000,000            |                        | AA+/Aaa                           | Israel Government AID Bond, 5.5%, 9/18/23                                                                                                                                                                                                                                                                                          |      | 2,398,126   |
|                                                                                                                                                             |                 |                        |                              | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                     |      |        |
|                                                                                                                                                             |                 |                        |                              | (Cost $5,856,680)                                                                                                                                                                                                                                                                                                                  | $         | 6,014,164   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | MUNICIPAL BONDS - 1.4%                                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                              | Municipal Higher Education - 1.2%                                                                                                                                                                                                                                                                                                  |      |        |
|                                                                                                                                                             | 1,000,000            |                        | AAA/Aaa                           | Massachusetts Health & Educational Facilities Authority, 5.5%, 11/15/36                                                                                                                                                                                                                                                        | $         | 1,165,240   |
|                                                                                                                                                             | 270,000              |                        | AA/Aa1                            | New York State Dormitory Authority Series A, 5.0%, 7/1/40                                                                                                                                                                                                                                                                          |      | 303,620     |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               | $         | 1,468,860   |
|                                                                                                                                                             |                 |                        |                              | Municipal Obligation - 0.2%                                                                                                                                                                                                                                                                                                        |      |        |
|                                                                                                                                                             | 250,000              |                        | AA+/Aa1                           | State of Washington, 5.0%, 8/1/39                                                                                                                                                                                                                                                                                                  | $         | 272,488     |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                              |      |        |
|                                                                                                                                                             |                 |                        |                              | (Cost $1,592,272)                                                                                                                                                                                                                                                                                                                  | $         | 1,741,348   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | TOTAL INVESTMENT IN SECURITIES - 96.6%                                                                                                                                                                                                                                                                                             |      |        |
|                                                                                                                                                             |                 |                        |                              | (Cost $118,916,959) (a)                                                                                                                                                                                                                                                                                                            | $         | 122,392,701 |
|                                                                                                                                                             |                 |                        |                              | OTHER ASSETS & LIABILITIES - 3.4%                                                                                                                                                                                                                                                                                              | $         | 4,305,982   |
|                                                                                                                                                             |                 |                        |                              | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                          | $         | 126,698,683 |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | 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, 2014, the value of these securities amounted to $3,540,439 or 2.8% of total net assets. |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | (a)                  |                        |                              | At April 30, 2014, the net unrealized appreciation on investments based on                                                                                                                                                                                                                                                         |
|                                                                                                                                                             |                 |                        |                              | cost for federal income tax purposes of $119,145,403 was as follows:                                                                                                                                                                                                                                                               |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | Aggregate gross unrealized appreciation for all investments in which                                                                                                                                                                                                                                                               |
|                                                                                                                                                             |                 |                        |                              | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                          | $         | 4,151,427   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | Aggregate gross unrealized depreciation for all investments in which                                                                                                                                                                                                                                                               |
|                                                                                                                                                             |                 |                        |                              | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                          |      | (904,129)   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             |                 |                        |                              | Net unrealized appreciation                                                                                                                                                                                                                                                                                                        | $         | 3,247,298   |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | (b)                  |                        |                              | Debt obligation with a variable interest rate.  Rate shown is rate at end of period.                                                                                                                                                                                                                                     |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | (c)                  |                        |                              | Security represents the interest only portion of payments on a pool of underlying mortgages or mortgage-backed securities.                                                                                                                                                                                                         |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
|                                                                                                                                                             | (d)                  |                        |                              | Security issued with a zero coupon.  Income is earned through accretion of discount.                                                                                                                                                                                                                                     |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
| 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.)       |
| Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)                                  |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
| 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.                                                                |                 |                        |
|                                                                                                                                                             |                 |                        |                              |                                                                                                                                                                                                                                                                                                                               |      |        |
| The following is a summary of the inputs used as of April 30, 2014, in valuing the Fund’s assets:                                                          |                 |                        |

|                                                                                       |   | Level 1 |     |   | Level 2 |   |        | Level 3 |   |   | Total  |   |
|--------------------------------------------------------------------------------------------|--------|---------|----------|--------|---------|--------|-------------|---------|--------|--------|--------|--------|
| Asset Backed Securities                                                                    |   | $       | -        |   |    | $      | 7,573,885   |    |   | $      | -      |   |   | $ | 7,573,885 |   |
| Collateralized Mortgage Obligations                                                        |   |    | -        |   |    |   | 19,521,128  |    |   |   | -      |   |   |   | 19,521,128 |   |
| Corporate Bonds                                                                            |   |    | -        |   |    |   | 801,655     |    |   |   | -      |   |   |   | 801,655 |   |
| U.S. Government and Agency Obligations                                                     |   |    | -        |   |    |   | 86,740,521  |    |   |   | -      |   |   |   | 86,740,521 |   |
| Foreign Government Bonds                                                                   |   |    | -        |   |    |   | 6,014,164   |    |   |   | -      |   |   |   | 6,014,164 |   |
| Municipal Bonds                                                                            |   |    | -        |   |    |   | 1,741,348   |    |   |   | -      |   |   |   | 1,741,348 |   |
| Total                                                                                      |   | $       | -        |   |    | $      | 122,392,701 |    |   | $      | -      |   |   | $ | 122,392,701 |   |
|                                                                                       |   |    |     |   |    |   |        |    |   |   |   |   |   |   |   |   |
| Other Financial Instruments                                                                |   |    |     |   |    |   |        |    |   |   |   |   |   |   |   |   |
| Net unrealized appreciation on futures contracts                                           |   | $       | (178,531 | )      |    | $      | -           |    |   | $      | -      |   |   | $ | (178,531 | ) |
| Total Other Financial Instruments                                                          |   | $       | (178,531 | )      |    | $      | -           |    |   | $      | -      |   |   | $ | (178,531 | ) |
|                                                                                       |   |    |     |   |    |   |        |    |   |   |   |   |   |   |   |   |
| During the period ended April 30, 2014, there were no transfers between Levels 1, 2 and 3. |   |    |     |   |    |

|                                                                                                                                                       |                 |                        |                              | Pioneer Classic Balanced Fund                                                                                                                                                                                                                                                                                                       |    |        |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------|-----------------------------|-----------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|-------------|
|                                                                                                                                                       |                 |                        |                              | Schedule of Investments 4/30/14 (unaudited)                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | Principal Amount ($) | FloatingRate (d)(unaudited) | S&P/Moody'sRatings(unaudited) |                                                                                                                                                                                                                                                                                                                                | Value   |
|                                                                                                                                                       |                 |                        |                              | PREFERRED STOCKS - 0.6%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       |                 |                        |                              | Banks - 0.3%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified Banks - 0.3%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 13,300               | 6.50                        | A-/Baa1                           | US Bancorp, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                          | $       | 383,705     |
|                                                                                                                                                       | 6,000                | 6.00                        | A-/Baa1                           | US Bancorp, Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                                          |    | 166,200     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 549,905     |
|                                                                                                                                                       |                 |                        |                              | Regional Banks - 0.0%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 1,000                | 6.25                        | A-/NR                             | CoBank ACB, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                                   | $       | 102,719     |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 652,624     |
|                                                                                                                                                       |                 |                        |                              | 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                                                                                                                                                                                                                                                                                | $       | 81,780      |
|                                                                                                                                                       |                 |                        |                              | Asset Management & Custody Banks - 0.0%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 1,400                | 5.90                        | BBB+/Baa2                         | State Street Corp., Floating Rate Note, 12/31/73                                                                                                                                                                                                                                                                                    | $       | 36,344      |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 118,124     |
|                                                                                                                                                       |                 |                        |                              | Insurance - 0.2%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Property & Casualty Insurance - 0.2%                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 21,025               | 5.10                        | BBB/Baa1                          | The Allstate Corp., Floating Rate Note, 1/15/53                                                                                                                                                                                                                                                                                     | $       | 528,148     |
|                                                                                                                                                       |                 |                        |                              | Total Insurance                                                                                                                                                                                                                                                                                                                     | $       | 528,148     |
|                                                                                                                                                       |                 |                        |                              | TOTAL PREFERRED STOCKS                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $1,227,166)                                                                                                                                                                                                                                                                                                                   | $       | 1,298,896   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | CONVERTIBLE PREFERRED STOCKS - 0.4%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Banks - 0.4%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified Banks - 0.4%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 700                  |                        | BBB+/Baa3                         | Wells Fargo & Co., 7.5% (Perpetual)                                                                                                                                                                                                                                                                                             | $       | 836,140     |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 836,140     |
|                                                                                                                                                       |                 |                        |                              | TOTAL CONVERTIBLE PREFERRED STOCKS                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $730,069)                                                                                                                                                                                                                                                                                                                     | $       | 836,140     |
|                                                                                                                                                       | Shares               |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | COMMON STOCKS - 63.3%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | Energy - 7.9%                                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Equipment & Services - 0.9%                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 18,055               |                        |                              | Schlumberger, Ltd.                                                                                                                                                                                                                                                                                                                  | $       | 1,833,485   |
|                                                                                                                                                       |                 |                        |                              | Integrated Oil & Gas - 1.5%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 17,830               |                        |                              | Exxon Mobil Corp.                                                                                                                                                                                                                                                                                                                   | $       | 1,825,970   |
|                                                                                                                                                       | 14,497               |                        |                              | Occidental Petroleum Corp.                                                                                                                                                                                                                                                                                                          |    | 1,388,088   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,214,058   |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Exploration & Production - 2.3%                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 24,545               |                        |                              | ConocoPhillips                                                                                                                                                                                                                                                                                                                      | $       | 1,823,939   |
|                                                                                                                                                       | 14,226               |                        |                              | EOG Resources, Inc.                                                                                                                                                                                                                                                                                                                 |    | 1,394,148   |
|                                                                                                                                                       | 14,713               |                        |                              | EQT Corp.                                                                                                                                                                                                                                                                                                                           |    | 1,603,570   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 4,821,657   |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Refining & Marketing - 1.4%                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 19,358               |                        |                              | Marathon Petroleum Corp. *                                                                                                                                                                                                                                                                                                          | $       | 1,799,326   |
|                                                                                                                                                       | 12,725               |                        |                              | Phillips 66                                                                                                                                                                                                                                                                                                                         |    | 1,058,974   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,858,300   |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Storage & Transportation - 1.8%                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 38,181               |                        |                              | Spectra Energy Corp.                                                                                                                                                                                                                                                                                                                | $       | 1,516,168   |
|                                                                                                                                                       | 11,788               |                        |                              | Targa Resources Corp.                                                                                                                                                                                                                                                                                                               |    | 1,272,986   |
|                                                                                                                                                       | 21,040               |                        |                              | The Williams Companies, Inc.                                                                                                                                                                                                                                                                                                        |    | 887,257     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,676,411   |
|                                                                                                                                                       |                 |                        |                              | Total Energy                                                                                                                                                                                                                                                                                                                        | $       | 16,403,911  |
|                                                                                                                                                       |                 |                        |                              | Materials - 3.3%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Commodity Chemicals - 1.3%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 29,505               |                        |                              | LyondellBasell Industries NV                                                                                                                                                                                                                                                                                                        | $       | 2,729,212   |
|                                                                                                                                                       |                 |                        |                              | Diversified Chemicals - 0.2%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 9,128                |                        |                              | The Dow Chemical Co.                                                                                                                                                                                                                                                                                                                | $       | 455,487     |
|                                                                                                                                                       |                 |                        |                              | Fertilizers & Agricultural Chemicals - 0.7%                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 12,135               |                        |                              | Monsanto Co.                                                                                                                                                                                                                                                                                                                        | $       | 1,343,344   |
|                                                                                                                                                       |                 |                        |                              | Diversified Metals & Mining - 0.8%                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 50,210               |                        |                              | Freeport-McMoRan Copper & Gold, Inc.                                                                                                                                                                                                                                                                                            | $       | 1,725,718   |
|                                                                                                                                                       |                 |                        |                              | Paper Products - 0.3%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 13,386               |                        |                              | International Paper Co.                                                                                                                                                                                                                                                                                                             | $       | 624,457     |
|                                                                                                                                                       |                 |                        |                              | Total Materials                                                                                                                                                                                                                                                                                                                     | $       | 6,878,218   |
|                                                                                                                                                       |                 |                        |                              | Capital Goods - 5.9%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Aerospace & Defense - 1.8%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 24,443               |                        |                              | Honeywell International, Inc.                                                                                                                                                                                                                                                                                                       | $       | 2,270,755   |
|                                                                                                                                                       | 12,071               |                        |                              | United Technologies Corp.                                                                                                                                                                                                                                                                                                           |    | 1,428,361   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,699,116   |
|                                                                                                                                                       |                 |                        |                              | Electrical Components & Equipment - 1.6%                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 24,640               |                        |                              | Eaton Corp. Plc                                                                                                                                                                                                                                                                                                                     | $       | 1,789,850   |
|                                                                                                                                                       | 13,510               |                        |                              | Rockwell Automation, Inc.                                                                                                                                                                                                                                                                                                           |    | 1,610,122   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,399,972   |
|                                                                                                                                                       |                 |                        |                              | Construction & Farm Machinery & Heavy Trucks - 0.7%                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 9,999                |                        |                              | Cummins, Inc.                                                                                                                                                                                                                                                                                                                       | $       | 1,508,349   |
|                                                                                                                                                       |                 |                        |                              | Industrial Machinery - 1.8%                                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 21,598               |                        |                              | Ingersoll-Rand Plc                                                                                                                                                                                                                                                                                                                  | $       | 1,291,560   |
|                                                                                                                                                       | 11,837               |                        |                              | Parker Hannifin Corp.                                                                                                                                                                                                                                                                                                               |    | 1,501,879   |
|                                                                                                                                                       | 7,928                |                        |                              | Snap-on, Inc.                                                                                                                                                                                                                                                                                                                       |    | 919,648     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,713,087   |
|                                                                                                                                                       |                 |                        |                              | Total Capital Goods                                                                                                                                                                                                                                                                                                                 | $       | 12,320,524  |
|                                                                                                                                                       |                 |                        |                              | Commercial Services & Supplies - 0.5%                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified Support Services - 0.5%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       | 34,175               |                        |                              | KAR Auction Services, Inc.                                                                                                                                                                                                                                                                                                          | $       | 1,017,732   |
|                                                                                                                                                       |                 |                        |                              | Total Commercial Services & Supplies                                                                                                                                                                                                                                                                                            | $       | 1,017,732   |
|                                                                                                                                                       |                 |                        |                              | Transportation - 1.4%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | Air Freight & Logistics - 0.6%                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 12,489               |                        |                              | United Parcel Service, Inc. (Class B)                                                                                                                                                                                                                                                                                               | $       | 1,230,166   |
|                                                                                                                                                       |                 |                        |                              | Airlines - 0.8%                                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 44,291               |                        |                              | Delta Air Lines, Inc.                                                                                                                                                                                                                                                                                                               | $       | 1,631,238   |
|                                                                                                                                                       |                 |                        |                              | Total Transportation                                                                                                                                                                                                                                                                                                                | $       | 2,861,404   |
|                                                                                                                                                       |                 |                        |                              | Automobiles & Components - 1.1%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Auto Parts & Equipment - 0.4%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 19,323               |                        |                              | Johnson Controls, Inc.                                                                                                                                                                                                                                                                                                              | $       | 872,240     |
|                                                                                                                                                       |                 |                        |                              | Automobile Manufacturers - 0.7%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 88,759               |                        |                              | Ford Motor Co.                                                                                                                                                                                                                                                                                                                      | $       | 1,433,458   |
|                                                                                                                                                       |                 |                        |                              | Total Automobiles & Components                                                                                                                                                                                                                                                                                                  | $       | 2,305,698   |
|                                                                                                                                                       |                 |                        |                              | Consumer Services - 0.7%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       |                 |                        |                              | Restaurants - 0.7%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 14,341               |                        |                              | McDonald's Corp.                                                                                                                                                                                                                                                                                                                    | $       | 1,453,891   |
|                                                                                                                                                       |                 |                        |                              | Total Consumer Services                                                                                                                                                                                                                                                                                                             | $       | 1,453,891   |
|                                                                                                                                                       |                 |                        |                              | Media - 2.9%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Cable & Satellite - 1.0%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 37,948               |                        |                              | Comcast Corp.                                                                                                                                                                                                                                                                                                                       | $       | 1,964,188   |
|                                                                                                                                                       |                 |                        |                              | Movies & Entertainment - 1.2%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 47,738               |                        |                              | Regal Entertainment Group                                                                                                                                                                                                                                                                                                           | $       | 897,474     |
|                                                                                                                                                       | 20,348               |                        |                              | The Walt Disney Co.                                                                                                                                                                                                                                                                                                                 |    | 1,614,410   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,511,884   |
|                                                                                                                                                       |                 |                        |                              | Publishing - 0.7%                                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 55,760               |                        |                              | Gannett Co, Inc.                                                                                                                                                                                                                                                                                                                    | $       | 1,514,999   |
|                                                                                                                                                       |                 |                        |                              | Total Media                                                                                                                                                                                                                                                                                                                         | $       | 5,991,071   |
|                                                                                                                                                       |                 |                        |                              | Retailing - 2.8%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Department Stores - 0.7%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 27,210               |                        |                              | Macy's, Inc.                                                                                                                                                                                                                                                                                                                        | $       | 1,562,670   |
|                                                                                                                                                       |                 |                        |                              | Apparel Retail - 0.7%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 19,947               |                        |                              | Ross Stores, Inc.                                                                                                                                                                                                                                                                                                                   | $       | 1,357,992   |
|                                                                                                                                                       |                 |                        |                              | Home Improvement Retail - 1.0%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 44,071               |                        |                              | Lowe's Companies, Inc.                                                                                                                                                                                                                                                                                                              | $       | 2,023,300   |
|                                                                                                                                                       |                 |                        |                              | Specialty Stores - 0.4%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 17,398               |                        |                              | Vitamin Shoppe, Inc. *                                                                                                                                                                                                                                                                                                              | $       | 833,016     |
|                                                                                                                                                       |                 |                        |                              | Total Retailing                                                                                                                                                                                                                                                                                                                     | $       | 5,776,978   |
|                                                                                                                                                       |                 |                        |                              | Food & Staples Retailing - 1.9%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Drug Retail - 1.9%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 21,700               |                        |                              | CVS Caremark Corp.                                                                                                                                                                                                                                                                                                                  | $       | 1,578,024   |
|                                                                                                                                                       | 36,465               |                        |                              | Walgreen Co.                                                                                                                                                                                                                                                                                                                        |    | 2,475,974   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 4,053,998   |
|                                                                                                                                                       |                 |                        |                              | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                  | $       | 4,053,998   |
|                                                                                                                                                       |                 |                        |                              | Food, Beverage & Tobacco - 1.8%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Soft Drinks - 0.4%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 15,700               |                        |                              | Coca-Cola Enterprises, Inc.                                                                                                                                                                                                                                                                                                         | $       | 713,408     |
|                                                                                                                                                       |                 |                        |                              | Packaged Foods & Meats - 0.3%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 14,439               |                        |                              | Campbell Soup Co.                                                                                                                                                                                                                                                                                                                   | $       | 656,830     |
|                                                                                                                                                       |                 |                        |                              | Tobacco - 1.1%                                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 56,859               |                        |                              | Altria Group, Inc.                                                                                                                                                                                                                                                                                                                  | $       | 2,280,614   |
|                                                                                                                                                       |                 |                        |                              | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                  | $       | 3,650,852   |
|                                                                                                                                                       |                 |                        |                              | Health Care Equipment & Services - 1.1%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       |                 |                        |                              | Health Care Distributors - 1.1%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 13,597               |                        |                              | McKesson Corp.                                                                                                                                                                                                                                                                                                                      | $       | 2,300,476   |
|                                                                                                                                                       |                 |                        |                              | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                          | $       | 2,300,476   |
|                                                                                                                                                       |                 |                        |                              | Pharmaceuticals, Biotechnology & Life Sciences - 9.6%                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       |                 |                        |                              | Biotechnology - 2.1%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | 8,443                |                        |                              | Celgene Corp. *                                                                                                                                                                                                                                                                                                                     | $       | 1,241,205   |
|                                                                                                                                                       | 28,718               |                        |                              | Gilead Sciences, Inc. *                                                                                                                                                                                                                                                                                                             |    | 2,254,076   |
|                                                                                                                                                       | 11,424               |                        |                              | Vertex Pharmaceuticals, Inc. *                                                                                                                                                                                                                                                                                                      |    | 773,405     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 4,268,686   |
|                                                                                                                                                       |                 |                        |                              | Pharmaceuticals - 7.5%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 30,328               |                        |                              | AbbVie, Inc.                                                                                                                                                                                                                                                                                                                        | $       | 1,579,482   |
|                                                                                                                                                       | 11,567               |                        |                              | Actavis plc *                                                                                                                                                                                                                                                                                                                       |    | 2,363,485   |
|                                                                                                                                                       | 23,975               |                        |                              | AstraZeneca Plc (A.D.R.)                                                                                                                                                                                                                                                                                                            |    | 1,895,224   |
|                                                                                                                                                       | 36,608               |                        |                              | Johnson & Johnson                                                                                                                                                                                                                                                                                                               |    | 3,708,024   |
|                                                                                                                                                       | 35,314               |                        |                              | Merck & Co., Inc.                                                                                                                                                                                                                                                                                                               |    | 2,067,988   |
|                                                                                                                                                       | 102,390              |                        |                              | Pfizer, Inc.                                                                                                                                                                                                                                                                                                                        |    | 3,202,759   |
|                                                                                                                                                       | 27,816               |                        |                              | Zoetis, Inc.                                                                                                                                                                                                                                                                                                                        |    | 841,712     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 15,658,674  |
|                                                                                                                                                       |                 |                        |                              | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                            | $       | 19,927,360  |
|                                                                                                                                                       |                 |                        |                              | Banks - 2.7%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Regional Banks - 2.0%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 44,282               |                        |                              | BB&T Corp.                                                                                                                                                                                                                                                                                                                      | $       | 1,653,047   |
|                                                                                                                                                       | 30,468               |                        |                              | The PNC Financial Services Group, Inc.                                                                                                                                                                                                                                                                                              |    | 2,560,531   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 4,213,578   |
|                                                                                                                                                       |                 |                        |                              | Thrifts & Mortgage Finance - 0.7%                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 50,490               |                        |                              | New York Community Bancorp, Inc.                                                                                                                                                                                                                                                                                                    | $       | 778,051     |
|                                                                                                                                                       | 37,421               |                        |                              | People's United Financial, Inc.                                                                                                                                                                                                                                                                                                     |    | 534,372     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,312,423   |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 5,526,001   |
|                                                                                                                                                       |                 |                        |                              | Diversified Financials - 4.9%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Other Diversified Financial Services - 1.4%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 119,878              |                        |                              | Bank of America Corp.                                                                                                                                                                                                                                                                                                               | $       | 1,814,953   |
|                                                                                                                                                       | 22,225               |                        |                              | Citigroup, Inc.                                                                                                                                                                                                                                                                                                                     |    | 1,064,800   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,879,753   |
|                                                                                                                                                       |                 |                        |                              | Specialized Finance - 0.6%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 18,047               |                        |                              | CME Group, Inc./IL                                                                                                                                                                                                                                                                                                                  | $       | 1,270,328   |
|                                                                                                                                                       |                 |                        |                              | Consumer Finance - 0.7%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 25,976               |                        |                              | Discover Financial Services, Inc.                                                                                                                                                                                                                                                                                                   | $       | 1,452,058   |
|                                                                                                                                                       |                 |                        |                              | Asset Management & Custody Banks - 1.8%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 3,213                |                        |                              | Affiliated Managers Group, Inc. *                                                                                                                                                                                                                                                                                                   | $       | 636,817     |
|                                                                                                                                                       | 84,070               |                        |                              | Ares Capital Corp.                                                                                                                                                                                                                                                                                                                  |    | 1,443,482   |
|                                                                                                                                                       | 89,883               |                        |                              | Medley Capital Corp.                                                                                                                                                                                                                                                                                                                |    | 1,172,074   |
|                                                                                                                                                       | 13,712               |                        |                              | The Carlyle Group LP                                                                                                                                                                                                                                                                                                                |    | 439,881     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,692,254   |
|                                                                                                                                                       |                 |                        |                              | Investment Banking & Brokerage - 0.4%                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 30,614               |                        |                              | Morgan Stanley Co.                                                                                                                                                                                                                                                                                                                  | $       | 946,891     |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 10,241,284  |
|                                                                                                                                                       |                 |                        |                              | Real Estate - 1.6%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       |                 |                        |                              | Residential REIT's - 0.5%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 27,008               |                        |                              | American Campus Communities, Inc.                                                                                                                                                                                                                                                                                                   | $       | 1,031,706   |
|                                                                                                                                                       |                 |                        |                              | Specialized REIT's - 1.1%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 86,515               |                        |                              | Chesapeake Lodging Trust                                                                                                                                                                                                                                                                                                            | $       | 2,335,040   |
|                                                                                                                                                       |                 |                        |                              | Total Real Estate                                                                                                                                                                                                                                                                                                                   | $       | 3,366,746   |
|                                                                                                                                                       |                 |                        |                              | Software & Services - 5.9%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       |                 |                        |                              | Internet Software & Services - 3.2%                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 28,715               |                        |                              | eBay, Inc. *                                                                                                                                                                                                                                                                                                                        | $       | 1,488,298   |
|                                                                                                                                                       | 16,233               |                        |                              | Facebook, Inc. *                                                                                                                                                                                                                                                                                                                    |    | 970,409     |
|                                                                                                                                                       | 3,937                |                        |                              | Google, Inc.                                                                                                                                                                                                                                                                                                                        |    | 2,073,460   |
|                                                                                                                                                       | 3,937                |                        |                              | Google, Inc. *                                                                                                                                                                                                                                                                                                                      |    | 2,105,823   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 6,637,990   |
|                                                                                                                                                       |                 |                        |                              | Data Processing & Outsourced Services - 0.5%                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       | 4,686                |                        |                              | Visa, Inc.                                                                                                                                                                                                                                                                                                                          | $       | 949,430     |
|                                                                                                                                                       |                 |                        |                              | Systems Software - 2.2%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 114,681              |                        |                              | Microsoft Corp.                                                                                                                                                                                                                                                                                                                     | $       | 4,633,104   |
|                                                                                                                                                       |                 |                        |                              | Total Software & Services                                                                                                                                                                                                                                                                                                       | $       | 12,220,524  |
|                                                                                                                                                       |                 |                        |                              | Technology Hardware & Equipment - 3.6%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | Communications Equipment - 0.9%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 23,683               |                        |                              | Qualcomm, Inc.                                                                                                                                                                                                                                                                                                                      | $       | 1,864,089   |
|                                                                                                                                                       |                 |                        |                              | Computer Hardware - 1.3%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 4,647                |                        |                              | Apple, Inc.                                                                                                                                                                                                                                                                                                                         | $       | 2,742,148   |
|                                                                                                                                                       |                 |                        |                              | Computer Storage & Peripherals - 1.4%                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 112,267              |                        |                              | EMC Corp.                                                                                                                                                                                                                                                                                                                           | $       | 2,896,489   |
|                                                                                                                                                       |                 |                        |                              | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                           | $       | 7,502,726   |
|                                                                                                                                                       |                 |                        |                              | Semiconductors & Semiconductor Equipment - 1.6%                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Semiconductors - 1.6%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 20,229               |                        |                              | Analog Devices, Inc.                                                                                                                                                                                                                                                                                                                | $       | 1,037,545   |
|                                                                                                                                                       | 30,906               |                        |                              | Microchip Technology, Inc.                                                                                                                                                                                                                                                                                                          |    | 1,469,271   |
|                                                                                                                                                       | 19,744               |                        |                              | Xilinx, Inc.                                                                                                                                                                                                                                                                                                                        |    | 931,719     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 3,438,535   |
|                                                                                                                                                       |                 |                        |                              | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                  | $       | 3,438,535   |
|                                                                                                                                                       |                 |                        |                              | Telecommunication Services - 1.2%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       |                 |                        |                              | Integrated Telecommunication Services - 1.2%                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 54,784               |                        |                              | Verizon Communications, Inc.                                                                                                                                                                                                                                                                                                        | $       | 2,560,056   |
|                                                                                                                                                       |                 |                        |                              | Total Telecommunication Services                                                                                                                                                                                                                                                                                                    | $       | 2,560,056   |
|                                                                                                                                                       |                 |                        |                              | Utilities - 0.9%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Gas Utilities - 0.9%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | 29,645               |                        |                              | ONEOK, Inc.                                                                                                                                                                                                                                                                                                                         | $       | 1,874,157   |
|                                                                                                                                                       |                 |                        |                              | Total Utilities                                                                                                                                                                                                                                                                                                                     | $       | 1,874,157   |
|                                                                                                                                                       |                 |                        |                              | TOTAL COMMON STOCKS                                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $101,108,333)                                                                                                                                                                                                                                                                                                                 | $       | 131,672,142 |
|                                                                                                                                                       | Principal Amount ($) |                        |                              |                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                       |                 |                        |                              | ASSET BACKED SECURITIES - 1.9%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       |                 |                        |                              | Materials - 0.1%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Precious Metals & Minerals - 0.1%                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 239,620              |                        | AA+/A2                            | Credit-Based Asset Servicing and Securitization LLC, 4.87536%, 7/25/35 (Step)                                                                                                                                                                                                                                                       | $       | 246,071     |
|                                                                                                                                                       |                 |                        |                              | Total Materials                                                                                                                                                                                                                                                                                                                     | $       | 246,071     |
|                                                                                                                                                       |                 |                        |                              | Banks - 1.3%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Thrifts & Mortgage Finance - 1.3%                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 150,000              | 0.65                        | A+/Baa3                           | Bayview Financial Mortgage Pass-Through Trust 2005-C, Floating Rate Note, 6/28/44                                                                                                                                                                                                                                                   | $       | 143,915     |
|                                                                                                                                                       | 350,129              |                        | BB-/B1                            | Citicorp Residential Mortgage Trust Series 2006-1, 5.939%, 7/25/36 (Step)                                                                                                                                                                                                                                                           |    | 356,626     |
|                                                                                                                                                       | 27,344               |                        | AAA/Aaa                           | HSBC Home Equity Loan Trust USA 2006-3, 5.63%, 3/20/36 (Step)                                                                                                                                                                                                                                                                       |    | 27,468      |
|                                                                                                                                                       | 78,614               |                        | BBB+/Baa1                         | Lehman ABS Manufactured Housing Contract Trust 2001-B, 5.873%, 4/15/40                                                                                                                                                                                                                                                              |    | 83,025      |
|                                                                                                                                                       | 106,483              | 0.40                        | A+/Aa1                            | Lehman Brothers Small Balance Commercial, Floating Rate Note, 2/25/30 (144A)                                                                                                                                                                                                                                                        | 94,523  |
|                                                                                                                                                       | 200,000              |                        | AAA/NR                            | Nationstar Mortgage Advance Receivables Trust 2013-T2, 1.679%, 6/20/46 (144A)                                                                                                                                                                                                                                                       | 199,040 |
|                                                                                                                                                       | 265,000              | 1.73                        | AA-/Baa1                          | NovaStar Mortgage Funding Trust Series 2004-3, Floating Rate Note, 12/25/34                                                                                                                                                                                                                                                         |    | 246,927     |
|                                                                                                                                                       | 200,000              | 0.75                        | AAA/Aaa                           | PFS Financing Corp., Floating Rate Note, 2/15/19 (144A)                                                                                                                                                                                                                                                                             |    | 200,232     |
|                                                                                                                                                       | 375,000              | 0.59                        | NR/A2                             | RAMP Series 2005-RS5 Trust, Floating Rate Note, 5/25/35                                                                                                                                                                                                                                                                             |    | 362,067     |
|                                                                                                                                                       | 155,363              |                        | A/NR                              | STORE Master Funding LLC, 5.77%, 8/20/42 (144A)                                                                                                                                                                                                                                                                                     |    | 167,817     |
|                                                                                                                                                       | 17,341               | 0.75                        | AA+/Aa1                           | Structured Asset Investment Loan Trust 2005-4, Floating Rate Note, 5/25/35                                                                                                                                                                                                                                                          |    | 17,335      |
|                                                                                                                                                       | 119,889              | 0.28                        | CCC/Baa3                          | Structured Asset Securities Corp Mortgage Loan Trust 2007-BC2, Floating Rate Note, 3/25/37                                                                                                                                                                                                                                          | 116,325 |
|                                                                                                                                                       | 739,661              |                        | A+/NR                             | SVO 2012-A VOI Mortgage LLC, 2.0%, 9/20/29 (144A)                                                                                                                                                                                                                                                                                   |    | 742,597     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,757,897   |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 2,757,897   |
|                                                                                                                                                       |                 |                        |                              | Diversified Financials - 0.5%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Other Diversified Financial Services - 0.1%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 200,000              |                        | A-/NR                             | Textainer Marine Containers, Ltd., 4.21%, 4/15/27 (144A)                                                                                                                                                                                                                                                                            | $       | 200,218     |
|                                                                                                                                                       |                 |                        |                              | Specialized Finance - 0.2%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 305,000              | 0.60                        | NR/Aaa                            | GE Dealer Floorplan Master Note Trust, Floating Rate Note, 10/20/17                                                                                                                                                                                                                                                                 | $       | 305,737     |
|                                                                                                                                                       |                 |                        |                              | Consumer Finance - 0.2%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 250,000              |                        | A+/NR                             | AmeriCredit Automobile Receivables Trust 2012-4, 3.82%, 2/10/20                                                                                                                                                                                                                                                                     | $       | 261,995     |
|                                                                                                                                                       | 166,594              |                        | NR/Aa2                            | California Republic Auto Receivables Trust 2012-1, 1.18%, 8/15/17 (144A)                                                                                                                                                                                                                                                            |    | 167,276     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 429,271     |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 935,226     |
|                                                                                                                                                       |                 |                        |                              | TOTAL ASSET BACKED SECURITIES                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $3,896,134)                                                                                                                                                                                                                                                                                                                   | $       | 3,939,194   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | COLLATERALIZED MORTGAGE OBLIGATIONS - 5.8%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | Banks - 4.3%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Thrifts & Mortgage Finance - 4.3%                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 21,242               |                        | BBB+/Ba1                          | Alternative Loan Trust 2004-2CB, 5.125%, 3/25/34                                                                                                                                                                                                                                                                                    | $       | 21,315      |
|                                                                                                                                                       | 208,045              |                        | CCC/Caa3                          | Alternative Loan Trust 2005-1CB, 5.5%, 3/25/35                                                                                                                                                                                                                                                                                      |    | 183,806     |
|                                                                                                                                                       | 314,295              | 0.46                        | AA/NR                             | ASG Resecuritization Trust 2010-3, Floating Rate Note, 12/28/45 (144A)                                                                                                                                                                                                                                                              |    | 303,984     |
|                                                                                                                                                       | 169,585              |                        | A+/Baa2                           | Banc of America Alternative Loan Trust 2003-2, 5.75%, 4/25/33                                                                                                                                                                                                                                                                       |    | 175,865     |
|                                                                                                                                                       | 340,613              |                        | NR/Baa2                           | Banc of America Alternative Loan Trust 2003-7, 5.5%, 9/25/33                                                                                                                                                                                                                                                                        |    | 354,720     |
|                                                                                                                                                       | 268,605              |                        | NR/Ba2                            | Banc of America Alternative Loan Trust 2004-2, 6.0%, 3/25/34                                                                                                                                                                                                                                                                        |    | 277,907     |
|                                                                                                                                                       | 18,400               | 2.94                        | NR/Ba3                            | Banc of America Mortgage 2004-L Trust, Floating Rate Note, 1/25/35                                                                                                                                                                                                                                                                  |    | 18,442      |
|                                                                                                                                                       | 130,055              | 5.12                        | BBB+/NR                           | Banc of America Mortgage 2005-H Trust, Floating Rate Note, 9/25/35                                                                                                                                                                                                                                                                  |    | 129,663     |
|                                                                                                                                                       | 60,514               |                        | A+/NR                             | Banc of America Mortgage Trust 2004-11, 5.75%, 1/25/35                                                                                                                                                                                                                                                                              |    | 63,769      |
|                                                                                                                                                       | 211,989              |                        | NR/NR                             | Bayview Opportunity Master Fund IIA Trust 2012-4NPL, 3.9496%, 1/28/34 (Step)                                                                                                                                                                                                                                                        | 212,371 |
|                                                                                                                                                       | 105,224              | 2.31                        | AA+/Baa2                          | Bear Stearns ARM Trust 2003-5, Floating Rate Note, 8/25/33                                                                                                                                                                                                                                                                          |    | 104,615     |
|                                                                                                                                                       | 400,000              | 4.99                        | BBB+/Baa2                         | Bear Stearns Commercial Mortgage Securities Trust 2005-PWR9, Floating Rate Note, 9/11/42                                                                                                                                                                                                                                            | 416,156 |
|                                                                                                                                                       | 100,000              | 4.65                        | AA-/A3                            | City Center Trust 2011-CCHP, Floating Rate Note, 7/15/28 (144A)                                                                                                                                                                                                                                                                     |    | 100,028     |
|                                                                                                                                                       | 168,000              |                        | AAA/Aaa                           | COMM 2012-CCRE4 Mortgage Trust, 2.436%, 10/15/45                                                                                                                                                                                                                                                                                    |    | 164,620     |
|                                                                                                                                                       | 200,000              | 4.89                        | A+/A2                             | Commercial Mortgage Trust 2005-GG3, Floating Rate Note, 8/10/42                                                                                                                                                                                                                                                                     |    | 204,313     |
|                                                                                                                                                       | 200,000              |                        | BBB/B1                            | Credit Suisse First Boston Mortgage Securities Corp., 4.877%, 4/15/37                                                                                                                                                                                                                                                               |    | 202,967     |
|                                                                                                                                                       | 90,838               |                        | AA+/NR                            | Federal Home Loan Mortgage Corp., 3.0%, 10/15/38                                                                                                                                                                                                                                                                                    |    | 94,130      |
|                                                                                                                                                       | 160,552              | 0.55                        | AA+/Aaa                           | Federal National Mortgage Association, Floating Rate Note, 2/25/41                                                                                                                                                                                                                                                                  |    | 160,697     |
|                                                                                                                                                       | 100,368              |                        | BB/Caa3                           | Global Mortgage Securitization, Ltd., 5.25%, 4/25/32 (144A)                                                                                                                                                                                                                                                                         |    | 96,773      |
|                                                                                                                                                       | 175,000              |                        | A-/Ba1                            | GS Mortgage Securities Corp II Series 2005-GG4, 4.782%, 7/10/39                                                                                                                                                                                                                                                                     |    | 179,092     |
|                                                                                                                                                       | 0                    | 5.72                        | B/NR                              | GSR Mortgage Loan Trust 2004-3F, Floating Rate Note, 2/25/34                                                                                                                                                                                                                                                                        |    | 0           |
|                                                                                                                                                       | 174,497              |                        | BB-/NR                            | GSR Mortgage Loan Trust 2005-1F, 6.0%, 2/25/35                                                                                                                                                                                                                                                                                      |    | 179,928     |
|                                                                                                                                                       | 240,867              | 0.77                        | A-/Ba1                            | Impac CMB Trust Series 2004-4, Floating Rate Note, 9/25/34                                                                                                                                                                                                                                                                          |    | 226,017     |
|                                                                                                                                                       | 250,000              |                        | AAA/NR                            | JP Morgan Chase Commercial Mortgage Securities Trust 2010-C2, 3.6159%, 11/15/43 (144A)                                                                                                                                                                                                                                              | 265,427 |
|                                                                                                                                                       | 306,182              | 2.03                        | A+/Baa1                           | JP Morgan Mortgage Trust 2003-A1, Floating Rate Note, 10/25/33                                                                                                                                                                                                                                                                      |    | 305,980     |
|                                                                                                                                                       | 300,000              | 5.40                        | NR/A2                             | LSTAR Commercial Mortgage Trust, Floating Rate Note, 6/25/43 (144A)                                                                                                                                                                                                                                                                 |    | 316,366     |
|                                                                                                                                                       | 162,810              |                        | B-/NR                             | MASTR Alternative Loan Trust 2004-6, 6.0%, 7/25/34                                                                                                                                                                                                                                                                                  |    | 169,373     |
|                                                                                                                                                       | 44,105               | 0.93                        | BB+/B2                            | Merrill Lynch Mortgage Investors Trust Series MLCC 2004-D, Floating Rate Note, 9/25/29                                                                                                                                                                                                                                              | 38,009  |
|                                                                                                                                                       | 37,383               | 2.48                        | BBB+/NR                           | Merrill Lynch Mortgage Investors Trust Series MLMI 2005-A2, Floating Rate Note, 2/25/35                                                                                                                                                                                                                                             | 37,155  |
|                                                                                                                                                       | 347,663              | 0.43                        | A+/Baa2                           | Morgan Stanley Mortgage Loan Trust 2005-6AR, Floating Rate Note, 11/25/35                                                                                                                                                                                                                                                           |    | 344,676     |
|                                                                                                                                                       | 109,263              |                        | NR/NR                             | ORES NPL 2013-LV2 LLC, 3.081%, 9/25/25 (144A)                                                                                                                                                                                                                                                                                       |    | 109,277     |
|                                                                                                                                                       | 813,233              |                        | BBB-/Baa3                         | RALI Series 2003-QR24 Trust, 4.0%, 7/25/33                                                                                                                                                                                                                                                                                          |    | 825,214     |
|                                                                                                                                                       | 512,883              |                        | NR/B1                             | RALI Series 2004-QS13 Trust, 5.0%, 9/25/19                                                                                                                                                                                                                                                                                          |    | 525,341     |
|                                                                                                                                                       | 107,715              |                        | NR/Ba2                            | RALI Series 2004-QS3 Trust, 5.0%, 3/25/19                                                                                                                                                                                                                                                                                           |    | 110,406     |
|                                                                                                                                                       | 73,603               | 0.75                        | BB+/Ba3                           | RALI Series 2004-QS5 Trust, Floating Rate Note, 4/25/34                                                                                                                                                                                                                                                                             |    | 72,309      |
|                                                                                                                                                       | 109,214              | 0.73                        | A+/A2                             | RAMP Series 2004-SL1 Trust, Floating Rate Note, 10/25/31                                                                                                                                                                                                                                                                            |    | 80,995      |
|                                                                                                                                                       | 117,516              |                        | BBB/NR                            | Residential Asset Securitization Trust 2004-A8, 5.25%, 11/25/34                                                                                                                                                                                                                                                                     |    | 122,227     |
|                                                                                                                                                       | 229,446              |                        | CCC/NR                            | Residential Asset Securitization Trust 2005-A9, 5.5%, 7/25/35                                                                                                                                                                                                                                                                       |    | 228,138     |
|                                                                                                                                                       | 100,661              | 2.25                        | NR/Aaa                            | Sequoia Mortgage Trust 2013-8, Floating Rate Note, 6/25/43                                                                                                                                                                                                                                                                          |    | 95,285      |
|                                                                                                                                                       | 156,142              | 3.00                        | NR/Aaa                            | Sequoia Mortgage Trust 2013-8, Floating Rate Note, 6/25/43                                                                                                                                                                                                                                                                          |    | 147,259     |
|                                                                                                                                                       | 244,677              | 1.45                        | AAA/NR                            | Starwood Property Mortgage Trust 2013-FV1, Floating Rate Note, 8/11/28 (144A)                                                                                                                                                                                                                                                       | 244,737 |
|                                                                                                                                                       | 142,852              | 2.86                        | BB/Ba2                            | Structured Adjustable Rate Mortgage Loan Trust Class 1A1, Floating Rate Note, 3/25/34                                                                                                                                                                                                                                               | 145,027 |
|                                                                                                                                                       | 118,009              | 2.37                        | BBB-/B3                           | Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 1/25/35                                                                                                                                                                                                                                                         |    | 116,037     |
|                                                                                                                                                       | 350,000              |                        | BB/B1                             | TimberStar Trust 1, 7.5296%, 10/15/36 (144A)                                                                                                                                                                                                                                                                                        |    | 357,148     |
|                                                                                                                                                       | 148,267              |                        | NR/NR                             | VOLT XXIII LLC, 3.625%, 11/25/53 (Step)                                                                                                                                                                                                                                                                                             |    | 148,830     |
|                                                                                                                                                       | 297,469              | 2.41                        | BBB/NR                            | WaMu Mortgage Pass-Through Certificates Series 2005-AR3 Trust, Floating Rate Note, 3/25/35                                                                                                                                                                                                                                          | 295,804 |
|                                                                                                                                                       | 1,069                |                        | BB+/Ba2                           | Wells Fargo Mortgage Backed Securities 2005-9 Trust, 5.5%, 10/25/35                                                                                                                                                                                                                                                                 |    | 1,068       |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 8,973,266   |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 8,973,266   |
|                                                                                                                                                       |                 |                        |                              | Diversified Financials - 0.4%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Other Diversified Financial Services - 0.4%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 333,000              | 1.45                        | AA-/NR                            | Del Coronado Trust 2013-DEL, Floating Rate Note, 3/15/26 (144A)                                                                                                                                                                                                                                                                     | $       | 332,549     |
|                                                                                                                                                       | 250,000              | 2.30                        | NR/NR                             | Resource Capital Corp. CRE Notes 2013, Ltd., Floating Rate Note, 6/15/16 (144A)                                                                                                                                                                                                                                                     | 250,000 |
|                                                                                                                                                       | 138,438              | 2.55                        | A+/Ba2                            | Structured Adjustable Rate Mortgage Loan Trust, Floating Rate Note, 9/25/34                                                                                                                                                                                                                                                         |    | 139,069     |
|                                                                                                                                                       | 147,288              |                        | NR/NR                             | VOLT XX LLC, 3.625%, 2/1/39 (Step) (144A)                                                                                                                                                                                                                                                                                           |    | 148,069     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 869,687     |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 869,687     |
|                                                                                                                                                       |                 |                        |                              | Telecommunication Services - 0.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       |                 |                        |                              | Wireless Telecommunication Services - 0.1%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 240,000              |                        | NR/A2                             | Crown Castle Towers LLC, 4.883%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                     | $       | 266,111     |
|                                                                                                                                                       |                 |                        |                              | Total Telecommunication Services                                                                                                                                                                                                                                                                                                    | $       | 266,111     |
|                                                                                                                                                       |                 |                        |                              | Government - 1.0%                                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       |                 |                        |                              | Government - 1.0%                                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 781,540              |                        | AA+/NR                            | Federal Home Loan Mortgage Corp. REMICS, 3.5%, 11/15/25                                                                                                                                                                                                                                                                             | $       | 794,940     |
|                                                                                                                                                       | 18,341               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp. REMICS, 5.0%, 6/15/34                                                                                                                                                                                                                                                                              |    | 18,576      |
|                                                                                                                                                       | 88,141               | 0.80                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp. REMICS, Floating Rate Note, 2/15/24                                                                                                                                                                                                                                                                |    | 90,923      |
|                                                                                                                                                       | 150,359              | 0.56                        | AA+/NR                            | Federal Home Loan Mortgage Corp. REMICS, Floating Rate Note, 5/15/41                                                                                                                                                                                                                                                                |    | 150,657     |
|                                                                                                                                                       | 93,634               | 0.47                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, Floating Rate Note, 11/25/36                                                                                                                                                                                                                                                          |    | 93,584      |
|                                                                                                                                                       | 152,599              | 3.57                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, Floating Rate Note, 3/25/39                                                                                                                                                                                                                                                           |    | 153,940     |
|                                                                                                                                                       | 138,259              | 0.45                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, Floating Rate Note, 4/25/36                                                                                                                                                                                                                                                           |    | 138,014     |
|                                                                                                                                                       | 331,024              | 0.60                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, Floating Rate Note, 7/25/41                                                                                                                                                                                                                                                           |    | 332,153     |
|                                                                                                                                                       | 65,635               | 0.70                        | AA+/Aaa                           | Federal National Mortgage Association REMICS, Floating Rate Note, 9/25/37                                                                                                                                                                                                                                                           |    | 66,106      |
|                                                                                                                                                       | 109,000              | 3.95                        | AA+/Aaa                           | FREMF Mortgage Trust Class B, Floating Rate Note, 6/25/47 (144A)                                                                                                                                                                                                                                                                    |    | 111,766     |
|                                                                                                                                                       | 60,197               | 0.66                        | AA+/Aaa                           | Government National Mortgage Association, Floating Rate Note, 11/20/30                                                                                                                                                                                                                                                              |    | 60,634      |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,011,293   |
|                                                                                                                                                       |                 |                        |                              | Total Government                                                                                                                                                                                                                                                                                                                    | $       | 2,011,293   |
|                                                                                                                                                       |                 |                        |                              | TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $11,961,339)                                                                                                                                                                                                                                                                                                                  | $       | 12,120,357  |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | CORPORATE BONDS - 18.5%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       |                 |                        |                              | Energy - 2.6%                                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Drilling - 0.3%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 225,000              |                        | BBB+/Baa1                         | Pride International, Inc., 6.875%, 8/15/20                                                                                                                                                                                                                                                                                          | $       | 270,532     |
|                                                                                                                                                       | 100,000              |                        | BBB-/Baa3                         | Rowan Companies, Inc., 4.75%, 1/15/24                                                                                                                                                                                                                                                                                               |    | 102,386     |
|                                                                                                                                                       | 250,000              |                        | BBB-/Baa3                         | Transocean, Inc., 6.375%, 12/15/21                                                                                                                                                                                                                                                                                                  |    | 282,530     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 655,448     |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Equipment & Services - 0.1%                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 205,000              |                        | BBB-/Baa2                         | Weatherford International, Ltd. Bermuda, 9.625%, 3/1/19                                                                                                                                                                                                                                                                             | $       | 268,981     |
|                                                                                                                                                       |                 |                        |                              | Integrated Oil & Gas - 0.2%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 175,000              |                        | BBB/Baa2                          | Ecopetrol SA, 4.25%, 9/18/18                                                                                                                                                                                                                                                                                                        | $       | 185,806     |
|                                                                                                                                                       | 250,000              |                        | AA-/Aa2                           | Statoil ASA, 2.9%, 11/8/20                                                                                                                                                                                                                                                                                                          |    | 254,304     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 440,110     |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Exploration & Production - 0.3%                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 200,000              |                        | NR/A1                             | Dolphin Energy, Ltd., 5.5%, 12/15/21 (144A)                                                                                                                                                                                                                                                                                         | $       | 223,750     |
|                                                                                                                                                       | 400,000              |                        | BBB-/Baa3                         | Novatek OAO via Novatek Finance, Ltd., 4.422%, 12/13/22 (144A)                                                                                                                                                                                                                                                                      |    | 328,000     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 551,750     |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Refining & Marketing - 0.6%                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 300,000              |                        | BBB-/Baa3                         | GS Caltex Corp., 3.25%, 10/1/18 (144A)                                                                                                                                                                                                                                                                                              | $       | 304,549     |
|                                                                                                                                                       | 360,000              |                        | BBB+/A2                           | Motiva Enterprises LLC, 5.75%, 1/15/20 (144A)                                                                                                                                                                                                                                                                                       |    | 408,815     |
|                                                                                                                                                       | 370,000              |                        | BBB/Baa2                          | Valero Energy Corp., 9.375%, 3/15/19                                                                                                                                                                                                                                                                                                |    | 483,150     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,196,514   |
|                                                                                                                                                       |                 |                        |                              | Oil & Gas Storage & Transportation - 1.0%                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 125,000              |                        | BBB-/Baa3                         | Buckeye Partners LP, 6.05%, 1/15/18                                                                                                                                                                                                                                                                                                 | $       | 139,248     |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa2                         | DCP Midstream LLC, 9.75%, 3/15/19 (144A)                                                                                                                                                                                                                                                                                            |    | 255,100     |
|                                                                                                                                                       | 250,000              | 5.85                        | BB/Baa3                           | DCP Midstream LLC, Floating Rate Note, 5/21/43 (144A)                                                                                                                                                                                                                                                                               |    | 236,250     |
|                                                                                                                                                       | 425,000              |                        | A/A3                              | Questar Pipeline Co., 5.83%, 2/1/18                                                                                                                                                                                                                                                                                                 |    | 481,549     |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa2                         | Spectra Energy Capital LLC, 6.75%, 7/15/18                                                                                                                                                                                                                                                                                          |    | 232,075     |
|                                                                                                                                                       | 242,000              |                        | BBB-/Baa3                         | The Williams Companies, Inc., 7.75%, 6/15/31                                                                                                                                                                                                                                                                                        |    | 281,174     |
|                                                                                                                                                       | 200,000              | 6.35                        | BBB/Baa1                          | TransCanada PipeLines, Ltd., Floating Rate Note, 5/15/67                                                                                                                                                                                                                                                                            |    | 207,750     |
|                                                                                                                                                       | 200,000              |                        | BBB/Baa2                          | Williams Partners LP, 4.3%, 3/4/24                                                                                                                                                                                                                                                                                                  |    | 204,212     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,037,358   |
|                                                                                                                                                       |                 |                        |                              | Coal & Consumable Fuels - 0.1%                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 250,000              |                        | AA-/A1                            | Corp Nacional del Cobre de Chile, 5.625%, 10/18/43 (144A)                                                                                                                                                                                                                                                                           | $       | 266,680     |
|                                                                                                                                                       |                 |                        |                              | Total Energy                                                                                                                                                                                                                                                                                                                        | $       | 5,416,841   |
|                                                                                                                                                       |                 |                        |                              | Materials - 1.0%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified Chemicals - 0.1%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 250,000              |                        | A-/Baa1                           | FMC Corp., 4.1%, 2/1/24                                                                                                                                                                                                                                                                                                             | $       | 258,186     |
|                                                                                                                                                       |                 |                        |                              | Specialty Chemicals - 0.1%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa2                         | Cytec Industries, Inc., 3.5%, 4/1/23                                                                                                                                                                                                                                                                                                | $       | 190,574     |
|                                                                                                                                                       |                 |                        |                              | Construction Materials - 0.1%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 125,000              |                        | BBB/Baa2                          | Holcim US Finance Sarl & Cie SCS, 6.0%, 12/30/19 (144A)                                                                                                                                                                                                                                                                         | $       | 142,610     |
|                                                                                                                                                       |                 |                        |                              | Diversified Metals & Mining - 0.4%                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 350,000              |                        | BB+/Ba1                           | Gold Fields Orogen Holding BVI, Ltd., 4.875%, 10/7/20 (144A)                                                                                                                                                                                                                                                                        | $       | 315,000     |
|                                                                                                                                                       | 425,000              |                        | A-/Baa2                           | Vale Canada, Ltd., 7.2%, 9/15/32                                                                                                                                                                                                                                                                                                    |    | 471,127     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 786,127     |
|                                                                                                                                                       |                 |                        |                              | Gold - 0.1%                                                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 150,000              |                        | BBB/Baa2                          | Barrick Gold Corp., 5.8%, 11/15/34                                                                                                                                                                                                                                                                                                  | $       | 144,757     |
|                                                                                                                                                       |                 |                        |                              | Steel - 0.2%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB/Baa2                          | Glencore Funding LLC, 4.125%, 5/30/23 (144A)                                                                                                                                                                                                                                                                                        | $       | 194,058     |
|                                                                                                                                                       | 200,000              |                        | BBB-/NR                           | Samarco Mineracao SA, 5.75%, 10/24/23 (144A)                                                                                                                                                                                                                                                                                        |    | 203,000     |
|                                                                                                                                                       | 150,000              |                        | BBB/Baa3                          | Worthington Industries, Inc., 4.55%, 4/15/26                                                                                                                                                                                                                                                                                        |    | 150,715     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 547,773     |
|                                                                                                                                                       |                 |                        |                              | Total Materials                                                                                                                                                                                                                                                                                                                     | $       | 2,070,027   |
|                                                                                                                                                       |                 |                        |                              | Capital Goods - 0.7%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Aerospace & Defense - 0.1%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 200,000              |                        | A-/A3                             | Rockwell Collins, Inc., 3.7%, 12/15/23                                                                                                                                                                                                                                                                                              | $       | 205,298     |
|                                                                                                                                                       |                 |                        |                              | Building Products - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 175,000              | 5.75                        | BBB+/Baa2                         | Stanley Black & Decker, Inc., Floating Rate Note, 12/15/53                                                                                                                                                                                                                                                                      | $       | 189,219     |
|                                                                                                                                                       |                 |                        |                              | Construction & Farm Machinery & Heavy Trucks - 0.3%                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 250,000              |                        | A/A3                              | Cummins, Inc., 5.65%, 3/1/98                                                                                                                                                                                                                                                                                                        | $       | 277,576     |
|                                                                                                                                                       | 130,000              |                        | A/A3                              | Cummins, Inc., 6.75%, 2/15/27                                                                                                                                                                                                                                                                                                       |    | 156,099     |
|                                                                                                                                                       | 250,000              |                        | BBB-/Baa3                         | Wabtec Corp. Delaware, 4.375%, 8/15/23                                                                                                                                                                                                                                                                                              |    | 257,276     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 690,951     |
|                                                                                                                                                       |                 |                        |                              | Industrial Machinery - 0.1%                                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 150,000              |                        | BBB/Baa2                          | Valmont Industries, Inc., 6.625%, 4/20/20                                                                                                                                                                                                                                                                                           | $       | 176,504     |
|                                                                                                                                                       |                 |                        |                              | Trading Companies & Distributors - 0.1%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 175,000              |                        | BB+/NR                            | Aviation Capital Group Corp., 6.75%, 4/6/21 (144A)                                                                                                                                                                                                                                                                                  | $       | 195,708     |
|                                                                                                                                                       |                 |                        |                              | Total Capital Goods                                                                                                                                                                                                                                                                                                                 | $       | 1,457,680   |
|                                                                                                                                                       |                 |                        |                              | Transportation - 0.1%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | Airlines - 0.0%                                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 3,315                |                        | BBB+/Baa2                         | Continental Airlines 1998-1 Class A Pass Through Trust, 6.648%, 9/15/17                                                                                                                                                                                                                                                             | $       | 3,547       |
|                                                                                                                                                       | 77,427               |                        | A/Baa1                            | Delta Air Lines 2010-2 Class A Pass Through Trust, 4.95%, 5/23/19                                                                                                                                                                                                                                                                   |    | 84,202      |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 87,749      |
|                                                                                                                                                       |                 |                        |                              | Railroads - 0.1%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       | 150,000              |                        | BBB+/A3                           | Burlington Northern Santa Fe LLC, 5.15%, 9/1/43                                                                                                                                                                                                                                                                                     | $       | 164,089     |
|                                                                                                                                                       |                 |                        |                              | Total Transportation                                                                                                                                                                                                                                                                                                                | $       | 251,838     |
|                                                                                                                                                       |                 |                        |                              | Automobiles & Components - 0.1%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Auto Parts & Equipment - 0.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 145,000              |                        | BBB-/Baa3                         | Delphi Corp., 4.15%, 3/15/24                                                                                                                                                                                                                                                                                                        | $       | 148,373     |
|                                                                                                                                                       |                 |                        |                              | Automobile Manufacturers - 0.0%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 55,000               |                        | BBB+/Baa1                         | Hyundai Motor Manufacturing Czech s.r.o., 4.5%, 4/15/15 (144A)                                                                                                                                                                                                                                                                      | $       | 56,833      |
|                                                                                                                                                       | 70,000               |                        | BBB+/A3                           | Nissan Motor Acceptance Corp., 4.5%, 1/30/15 (144A)                                                                                                                                                                                                                                                                                 |    | 72,022      |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 128,855     |
|                                                                                                                                                       |                 |                        |                              | Total Automobiles & Components                                                                                                                                                                                                                                                                                                  | $       | 277,228     |
|                                                                                                                                                       |                 |                        |                              | Consumer Services - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       |                 |                        |                              | Hotels, Resorts & Cruise Lines - 0.0%                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 120,000              |                        | BBB/Baa2                          | Marriott International, Inc. Delaware, 3.375%, 10/15/20                                                                                                                                                                                                                                                                             | $       | 121,304     |
|                                                                                                                                                       |                 |                        |                              | Restaurants - 0.1%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 140,000              |                        | A-/Baa1                           | Starbucks Corp., 0.875%, 12/5/16                                                                                                                                                                                                                                                                                                    | $       | 139,668     |
|                                                                                                                                                       |                 |                        |                              | Total Consumer Services                                                                                                                                                                                                                                                                                                             | $       | 260,972     |
|                                                                                                                                                       |                 |                        |                              | Media - 0.6%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Broadcasting - 0.3%                                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       | 512,000              |                        | BBB+/Baa1                         | 21st Century Fox America, Inc., 7.3%, 4/30/28                                                                                                                                                                                                                                                                                       | $       | 637,857     |
|                                                                                                                                                       |                 |                        |                              | Cable & Satellite - 0.1%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 125,000              |                        | BBB+/Baa1                         | British Sky Broadcasting Group Plc, 6.1%, 2/15/18 (144A)                                                                                                                                                                                                                                                                            | $       | 142,913     |
|                                                                                                                                                       | 100,000              |                        | BBB/Baa2                          | Time Warner Cable, Inc., 8.25%, 4/1/19                                                                                                                                                                                                                                                                                              |    | 126,648     |
|                                                                                                                                                       | 50,000               |                        | BBB/Baa2                          | Time Warner Cable, Inc., 8.75%, 2/14/19                                                                                                                                                                                                                                                                                             |    | 64,030      |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 333,591     |
|                                                                                                                                                       |                 |                        |                              | Publishing - 0.2%                                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 95,000               |                        | BBB+/Baa2                         | Thomson Reuters Corp., 0.875%, 5/23/16                                                                                                                                                                                                                                                                                              | $       | 94,901      |
|                                                                                                                                                       | 250,000              |                        | BBB+/Baa2                         | Thomson Reuters Corp., 1.3%, 2/23/17                                                                                                                                                                                                                                                                                                |    | 250,962     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 345,863     |
|                                                                                                                                                       |                 |                        |                              | Total Media                                                                                                                                                                                                                                                                                                                         | $       | 1,317,311   |
|                                                                                                                                                       |                 |                        |                              | Food & Staples Retailing - 0.2%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Drug Retail - 0.2%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 173,902              |                        | BBB+/Baa1                         | CVS Pass-Through Trust, 5.298%, 1/11/27 (144A)                                                                                                                                                                                                                                                                                      | $       | 189,356     |
|                                                                                                                                                       | 114,911              |                        | BBB+/Baa1                         | CVS Pass-Through Trust, 5.773%, 1/10/33 (144A)                                                                                                                                                                                                                                                                                      |    | 126,065     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 315,421     |
|                                                                                                                                                       |                 |                        |                              | Total Food & Staples Retailing                                                                                                                                                                                                                                                                                                  | $       | 315,421     |
|                                                                                                                                                       |                 |                        |                              | Food, Beverage & Tobacco - 0.4%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Brewers - 0.1%                                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 55,000               |                        | A/A2                              | Anheuser-Busch InBev Worldwide, Inc., 7.75%, 1/15/19                                                                                                                                                                                                                                                                                | $       | 68,262      |
|                                                                                                                                                       |                 |                        |                              | Agricultural Products - 0.2%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 410,000              |                        | BBB/Baa2                          | Viterra, Inc., 5.95%, 8/1/20 (144A)                                                                                                                                                                                                                                                                                                 | $       | 457,788     |
|                                                                                                                                                       |                 |                        |                              | Packaged Foods & Meats - 0.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Kraft Foods Group, Inc., 3.5%, 6/6/22                                                                                                                                                                                                                                                                                               | $       | 254,092     |
|                                                                                                                                                       |                 |                        |                              | Total Food, Beverage & Tobacco                                                                                                                                                                                                                                                                                                  | $       | 780,142     |
|                                                                                                                                                       |                 |                        |                              | Household & Personal Products - 0.3%                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       |                 |                        |                              | Household Products - 0.2%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 200,000              |                        | A-/NR                             | Kimberly-Clark de Mexico SAB de CV, 3.8%, 4/8/24 (144A)                                                                                                                                                                                                                                                                             | $       | 202,000     |
|                                                                                                                                                       | 200,000              |                        | A+/A1                             | Reckitt Benckiser Treasury Services Plc, 2.125%, 9/21/18 (144A)                                                                                                                                                                                                                                                                     |    | 200,657     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 402,657     |
|                                                                                                                                                       |                 |                        |                              | Personal Products - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa3                         | Avon Products, Inc., 5.0%, 3/15/23                                                                                                                                                                                                                                                                                                  | $       | 201,444     |
|                                                                                                                                                       |                 |                        |                              | Total Household & Personal Products                                                                                                                                                                                                                                                                                             | $       | 604,101     |
|                                                                                                                                                       |                 |                        |                              | Health Care Equipment & Services - 0.1%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       |                 |                        |                              | Health Care Equipment - 0.1%                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 150,000              |                        | BBB-/Baa3                         | Boston Scientific Corp., 2.65%, 10/1/18                                                                                                                                                                                                                                                                                             | $       | 152,182     |
|                                                                                                                                                       |                 |                        |                              | Managed Health Care - 0.0%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 100,000              |                        | A-/Baa2                           | WellPoint, Inc., 3.3%, 1/15/23                                                                                                                                                                                                                                                                                                      | $       | 97,791      |
|                                                                                                                                                       |                 |                        |                              | Total Health Care Equipment & Services                                                                                                                                                                                                                                                                                          | $       | 249,973     |
|                                                                                                                                                       |                 |                        |                              | Pharmaceuticals, Biotechnology & Life Sciences - 0.1%                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       |                 |                        |                              | Pharmaceuticals - 0.1%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 175,000              |                        | BBB-/Baa3                         | Mylan, Inc. Pennsylvania, 2.55%, 3/28/19                                                                                                                                                                                                                                                                                            | $       | 175,554     |
|                                                                                                                                                       |                 |                        |                              | Total Pharmaceuticals, Biotechnology & Life Sciences                                                                                                                                                                                                                                                                            | $       | 175,554     |
|                                                                                                                                                       |                 |                        |                              | Banks - 1.9%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified Banks - 1.0%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 200,000              |                        | AA-/Aa2                           | Cooperatieve Centrale Raiffeisen-Boerenleenbank BA Netherlands, 3.875%, 2/8/22                                                                                                                                                                                                                                                      | $       | 209,234     |
|                                                                                                                                                       | 300,000              |                        | A+/Aa3                            | Export-Import Bank of Korea, 2.875%, 9/17/18                                                                                                                                                                                                                                                                                        |    | 307,744     |
|                                                                                                                                                       | 200,000              |                        | A+/Aa3                            | HSBC Holdings Plc, 4.875%, 1/14/22                                                                                                                                                                                                                                                                                                  |    | 222,129     |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Intesa Sanpaolo S.p.A., 3.125%, 1/15/16                                                                                                                                                                                                                                                                                             |    | 257,243     |
|                                                                                                                                                       | 200,000              |                        | BBB/Baa2                          | Intesa Sanpaolo S.p.A., 6.5%, 2/24/21 (144A)                                                                                                                                                                                                                                                                                        |    | 230,824     |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Macquarie Bank, Ltd., 6.625%, 4/7/21 (144A)                                                                                                                                                                                                                                                                                         |    | 284,508     |
|                                                                                                                                                       | 250,000              |                        | A/Baa1                            | Nordea Bank AB, 4.25%, 9/21/22 (144A)                                                                                                                                                                                                                                                                                               |    | 254,800     |
|                                                                                                                                                       | 150,000              |                        | AA-/Aa3                           | Royal Bank of Canada, 1.45%, 9/9/16                                                                                                                                                                                                                                                                                                 |    | 152,160     |
|                                                                                                                                                       | 200,000              |                        | A/A3                              | Wells Fargo & Co., 4.125%, 8/15/23                                                                                                                                                                                                                                                                                              |    | 203,970     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,122,612   |
|                                                                                                                                                       |                 |                        |                              | Regional Banks - 0.9%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 138,000              |                        | A-/A2                             | BB&T Corp., 1.6%, 8/15/17                                                                                                                                                                                                                                                                                                       | $       | 138,628     |
|                                                                                                                                                       | 250,000              |                        | A/A2                              | HSBC Bank USA NA New York NY, 6.0%, 8/9/17                                                                                                                                                                                                                                                                                          |    | 281,464     |
|                                                                                                                                                       | 600,000              |                        | BBB-/Baa2                         | Santander Bank NA, 8.75%, 5/30/18                                                                                                                                                                                                                                                                                                   |    | 720,490     |
|                                                                                                                                                       | 600,000              | 6.75                        | BBB/Baa3                          | The PNC Financial Services Group, Inc., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                              |    | 661,500     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,802,082   |
|                                                                                                                                                       |                 |                        |                              | Total Banks                                                                                                                                                                                                                                                                                                                         | $       | 3,924,694   |
|                                                                                                                                                       |                 |                        |                              | Diversified Financials - 2.4%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Other Diversified Financial Services - 1.4%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 290,000              |                        | BBB+/Baa2                         | Alterra Finance LLC, 6.25%, 9/30/20                                                                                                                                                                                                                                                                                                 | $       | 333,932     |
|                                                                                                                                                       | 400,000              |                        | A-/NR                             | Carlyle Holdings II Finance LLC, 5.625%, 3/30/43 (144A)                                                                                                                                                                                                                                                                             |    | 433,420     |
|                                                                                                                                                       | 250,000              |                        | AA+/A1                            | General Electric Capital Corp., 5.625%, 9/15/17                                                                                                                                                                                                                                                                                     |    | 283,643     |
|                                                                                                                                                       | 420,000              |                        | AA+/A1                            | General Electric Capital Corp., 6.75%, 3/15/32                                                                                                                                                                                                                                                                                      |    | 547,304     |
|                                                                                                                                                       | 100,000              |                        | BBB+/Baa1                         | Hyundai Capital Services, Inc., 6.0%, 5/5/15 (144A)                                                                                                                                                                                                                                                                                 |    | 104,892     |
|                                                                                                                                                       | 700,000              | 5.15                        | BBB/Ba1                           | JPMorgan Chase & Co., Floating Rate Note, 12/31/49 (Perpetual)                                                                                                                                                                                                                                                                  |    | 662,375     |
|                                                                                                                                                       | 300,000              |                        | A/NR                              | KKR Group Finance Co. II LLC, 5.5%, 2/1/43 (144A)                                                                                                                                                                                                                                                                                   |    | 323,458     |
|                                                                                                                                                       | 250,000              |                        | A+/Aa3                            | Sinopec Group Overseas Development 2014, Ltd., 4.375%, 4/10/24 (144A)                                                                                                                                                                                                                                                               |    | 252,348     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,941,372   |
|                                                                                                                                                       |                 |                        |                              | Specialized Finance - 0.1%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB+/Baa1                         | BM&FBovespa SA, 5.5%, 7/16/20 (144A)                                                                                                                                                                                                                                                                                            | $       | 214,000     |
|                                                                                                                                                       |                 |                        |                              | Consumer Finance - 0.5%                                                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 360,000              |                        | BBB/Baa1                          | Capital One Bank USA NA, 8.8%, 7/15/19                                                                                                                                                                                                                                                                                              | $       | 462,101     |
|                                                                                                                                                       | 150,000              |                        | BBB/Baa1                          | Capital One Financial Corp., 2.15%, 3/23/15                                                                                                                                                                                                                                                                                         |    | 152,214     |
|                                                                                                                                                       | 265,000              | 4.00                        | BB/Ba3                            | SLM Corp., Floating Rate Note, 7/25/14                                                                                                                                                                                                                                                                                              |    | 264,573     |
|                                                                                                                                                       | 150,000              |                        | AA-/Aa3                           | Toyota Motor Credit Corp., 0.75%, 3/5/17 (Step)                                                                                                                                                                                                                                                                                     |    | 149,012     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,027,900   |
|                                                                                                                                                       |                 |                        |                              | Asset Management & Custody Banks - 0.2%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 100,000              |                        | AA-/A1                            | Franklin Resources, Inc., 3.125%, 5/20/15                                                                                                                                                                                                                                                                                           | $       | 102,596     |
|                                                                                                                                                       | 250,000              | 4.50                        | BBB/Baa2                          | The Bank of New York Mellon Corp., Floating Rate Note (Perpetual)                                                                                                                                                                                                                                                                   |    | 229,188     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 331,784     |
|                                                                                                                                                       |                 |                        |                              | Investment Banking & Brokerage - 0.2%                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 250,000              |                        | BBB+/Baa3                         | Morgan Stanley, 4.1%, 5/22/23                                                                                                                                                                                                                                                                                                       | $       | 248,358     |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Raymond James Financial, Inc., 5.625%, 4/1/24                                                                                                                                                                                                                                                                                       |    | 276,528     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 524,886     |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 5,039,942   |
|                                                                                                                                                       |                 |                        |                              | Insurance - 3.3%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Insurance Brokers - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 250,000              |                        | BBB-/Baa3                         | Ironshore Holdings US, Inc., 8.5%, 5/15/20 (144A)                                                                                                                                                                                                                                                                                   | $       | 291,676     |
|                                                                                                                                                       |                 |                        |                              | Life & Health Insurance - 0.8%                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 365,000              |                        | BBB/Baa2                          | MetLife, Inc., 10.75%, 8/1/69                                                                                                                                                                                                                                                                                                       | $       | 558,450     |
|                                                                                                                                                       | 220,000              |                        | BBB+/Baa1                         | Principal Financial Group, Inc., 3.3%, 9/15/22                                                                                                                                                                                                                                                                                      |    | 217,021     |
|                                                                                                                                                       | 335,000              |                        | A-/Baa2                           | Protective Life Corp., 7.375%, 10/15/19                                                                                                                                                                                                                                                                                             |    | 409,414     |
|                                                                                                                                                       | 200,000              | 5.62                        | BBB+/Baa2                         | Prudential Financial, Inc., Floating Rate Note, 6/15/43                                                                                                                                                                                                                                                                             |    | 206,500     |
|                                                                                                                                                       | 150,000              | 5.88                        | BBB+/Baa2                         | Prudential Financial, Inc., Floating Rate Note, 9/15/42                                                                                                                                                                                                                                                                             |    | 157,875     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,549,260   |
|                                                                                                                                                       |                 |                        |                              | Multi-line Insurance - 0.5%                                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 250,000              |                        | BBB/A3                            | AXA SA, 8.6%, 12/15/30                                                                                                                                                                                                                                                                                                              | $       | 323,750     |
|                                                                                                                                                       | 500,000              |                        | BBB-/Baa2                         | Liberty Mutual Group, Inc., 7.3%, 6/15/14 (144A)                                                                                                                                                                                                                                                                                    |    | 503,653     |
|                                                                                                                                                       | 200,000              |                        | AA+/Aaa                           | New York Life Global Funding, 1.125%, 3/1/17 (144A)                                                                                                                                                                                                                                                                                 |    | 200,007     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,027,410   |
|                                                                                                                                                       |                 |                        |                              | Property & Casualty Insurance - 0.5%                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa2                         | OneBeacon US Holdings, Inc., 4.6%, 11/9/22                                                                                                                                                                                                                                                                                          | $       | 201,151     |
|                                                                                                                                                       | 200,000              |                        | A-/Baa2                           | QBE Insurance Group, Ltd., 2.4%, 5/1/18 (144A)                                                                                                                                                                                                                                                                                      |    | 196,400     |
|                                                                                                                                                       | 400,000              |                        | BBB-/Baa3                         | The Hanover Insurance Group, Inc., 7.5%, 3/1/20                                                                                                                                                                                                                                                                                     |    | 475,917     |
|                                                                                                                                                       | 100,000              |                        | BBB-/Baa3                         | The Hanover Insurance Group, Inc., 7.625%, 10/15/25                                                                                                                                                                                                                                                                                 |    | 121,220     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 994,688     |
|                                                                                                                                                       |                 |                        |                              | Reinsurance - 1.4%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       | 200,000              | 6.38                        | NR/NR                             | Aquarius + Investments Plc for Swiss Reinsurance Co., Ltd., Floating Rate Note, 9/1/24                                                                                                                                                                                                                                              | $       | 212,300     |
|                                                                                                                                                       | 250,000              | 5.29                        | BB-/NR                            | Caelus Re, Ltd., Floating Rate Note, 3/7/16 (Cat Bond) (144A)                                                                                                                                                                                                                                                                       |    | 253,700     |
|                                                                                                                                                       | 260,000              |                        | BBB/NR                            | Montpelier Re Holdings, Ltd., 4.7%, 10/15/22                                                                                                                                                                                                                                                                                        |    | 265,120     |
|                                                                                                                                                       | 250,000              | 9.03                        | BB/NR                             | Mystic Re, Ltd., Floating Rate Note, 3/12/15 (Cat Bond) (144A)                                                                                                                                                                                                                                                                      |    | 258,850     |
|                                                                                                                                                       | 450,000              |                        | BBB/NR                            | Platinum Underwriters Finance, Inc., 7.5%, 6/1/17                                                                                                                                                                                                                                                                                   |    | 504,584     |
|                                                                                                                                                       | 250,000              | 5.30                        | NR/NR                             | Residential Reinsurance 2013, Ltd., Floating Rate Note, 12/6/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                   | 251,750 |
|                                                                                                                                                       | 250,000              | 4.03                        | BB/NR                             | Sanders Re, Ltd., Floating Rate Note, 5/5/17 (Cat Bond) (144A)                                                                                                                                                                                                                                                                      |    | 252,300     |
|                                                                                                                                                       | 280,000              |                        | BBB/Baa3                          | Sirius International Group, Ltd., 6.375%, 3/20/17 (144A)                                                                                                                                                                                                                                                                            |    | 311,943     |
|                                                                                                                                                       | 250,000              | 7.51                        | BB+/Ba2                           | Sirius International Group, Ltd., Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                             |    | 263,357     |
|                                                                                                                                                       | 240,000              |                        | BBB+/Baa2                         | Validus Holdings, Ltd., 8.875%, 1/26/40                                                                                                                                                                                                                                                                                             |    | 340,026     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,913,930   |
|                                                                                                                                                       |                 |                        |                              | Total Insurance                                                                                                                                                                                                                                                                                                                     | $       | 6,776,964   |
|                                                                                                                                                       |                 |                        |                              | Real Estate - 1.3%                                                                                                                                                                                                                                                                                                                  |    |        |
|                                                                                                                                                       |                 |                        |                              | Diversified REIT's - 0.2%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa3                         | ARC Properties Operating Partnership LP, 2.0%, 2/6/17 (144A)                                                                                                                                                                                                                                                                        | $       | 200,246     |
|                                                                                                                                                       | 60,000               |                        | BBB/Baa2                          | Digital Realty Trust LP, 5.875%, 2/1/20                                                                                                                                                                                                                                                                                             |    | 66,099      |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Goodman Funding Pty, Ltd., 6.0%, 3/22/22 (144A)                                                                                                                                                                                                                                                                                     |    | 278,324     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 544,669     |
|                                                                                                                                                       |                 |                        |                              | Industrial REIT's - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB-/Baa2                         | DCT Industrial Operating Partnership LP, 4.5%, 10/15/23 (144A)                                                                                                                                                                                                                                                                      | $       | 200,607     |
|                                                                                                                                                       |                 |                        |                              | Office REIT's - 0.4%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | 110,000              |                        | BBB-/Baa2                         | Alexandria Real Estate Equities, Inc., 4.6%, 4/1/22                                                                                                                                                                                                                                                                                 | $       | 115,072     |
|                                                                                                                                                       | 65,000               |                        | BBB/Baa3                          | BioMed Realty LP, 4.25%, 7/15/22                                                                                                                                                                                                                                                                                                    |    | 66,462      |
|                                                                                                                                                       | 260,000              |                        | BBB-/Baa3                         | Corporate Office Properties LP, 3.6%, 5/15/23                                                                                                                                                                                                                                                                                       |    | 246,541     |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa2                          | Highwoods Realty LP, 3.625%, 1/15/23                                                                                                                                                                                                                                                                                                |    | 241,240     |
|                                                                                                                                                       | 85,000               |                        | BBB-/Baa2                         | Mack-Cali Realty LP, 4.5%, 4/18/22                                                                                                                                                                                                                                                                                                  |    | 85,335      |
|                                                                                                                                                       | 50,000               |                        | BBB-/Baa2                         | Mack-Cali Realty LP, 7.75%, 8/15/19                                                                                                                                                                                                                                                                                                 |    | 59,622      |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 814,272     |
|                                                                                                                                                       |                 |                        |                              | Specialized REIT's - 0.6%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 50,000               |                        | BBB-/Baa3                         | CubeSmart LP, 4.8%, 7/15/22                                                                                                                                                                                                                                                                                                         | $       | 53,373      |
|                                                                                                                                                       | 200,000              |                        | BBB/Baa2                          | Health Care Real Estate Investment Trust, Inc., 4.5%, 1/15/24                                                                                                                                                                                                                                                                       |    | 208,267     |
|                                                                                                                                                       | 210,000              |                        | BBB-/Baa3                         | Healthcare Realty Trust, Inc., 6.5%, 1/17/17                                                                                                                                                                                                                                                                                        |    | 236,463     |
|                                                                                                                                                       | 250,000              |                        | BBB-/Baa2                         | Hospitality Properties Trust, 5.0%, 8/15/22                                                                                                                                                                                                                                                                                         |    | 262,838     |
|                                                                                                                                                       | 382,000              |                        | BBB-/Baa3                         | Senior Housing Properties Trust, 6.75%, 4/15/20                                                                                                                                                                                                                                                                                     |    | 440,377     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,201,318   |
|                                                                                                                                                       |                 |                        |                              | Total Real Estate                                                                                                                                                                                                                                                                                                                   | $       | 2,760,866   |
|                                                                                                                                                       |                 |                        |                              | Software & Services - 0.0%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       |                 |                        |                              | Data Processing & Outsourced Services - 0.0%                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       | 44,000               |                        | B-/Caa1                           | First Data Corp., 8.25%, 1/15/21 (144A)                                                                                                                                                                                                                                                                                             | $       | 47,410      |
|                                                                                                                                                       |                 |                        |                              | Total Software & Services                                                                                                                                                                                                                                                                                                       | $       | 47,410      |
|                                                                                                                                                       |                 |                        |                              | Technology Hardware & Equipment - 0.1%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | Communications Equipment - 0.1%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 150,000              |                        | AA-/A1                            | Cisco Systems, Inc., 2.9%, 3/4/21                                                                                                                                                                                                                                                                                                   | $       | 151,070     |
|                                                                                                                                                       |                 |                        |                              | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                           | $       | 151,070     |
|                                                                                                                                                       |                 |                        |                              | Semiconductors & Semiconductor Equipment - 0.5%                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 185,000              |                        | BBB+/Baa1                         | KLA-Tencor Corp., 6.9%, 5/1/18                                                                                                                                                                                                                                                                                                      | $       | 217,021     |
|                                                                                                                                                       |                 |                        |                              | Semiconductors - 0.4%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 250,000              |                        | A-/Baa1                           | Altera Corp., 2.5%, 11/15/18                                                                                                                                                                                                                                                                                                        | $       | 252,238     |
|                                                                                                                                                       | 250,000              |                        | NR/NR                             | Micron Semiconductor Asia Pte, Ltd., 1.258%, 1/15/19                                                                                                                                                                                                                                                                                |    | 249,848     |
|                                                                                                                                                       | 200,000              |                        | A+/A1                             | Texas Instruments, Inc., 0.875%, 3/12/17                                                                                                                                                                                                                                                                                            |    | 199,559     |
|                                                                                                                                                       | 150,000              |                        | A-/A3                             | Xilinx, Inc., 3.0%, 3/15/21                                                                                                                                                                                                                                                                                                         |    | 150,666     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 852,311     |
|                                                                                                                                                       |                 |                        |                              | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                  | $       | 1,069,332   |
|                                                                                                                                                       |                 |                        |                              | Telecommunication Services - 1.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       |                 |                        |                              | Integrated Telecommunication Services - 0.8%                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       | 225,000              |                        | NR/A2                             | GTP Acquisition Partners I LLC, 4.347%, 6/15/16 (144A)                                                                                                                                                                                                                                                                              | $       | 237,894     |
|                                                                                                                                                       | 200,000              |                        | NR/Ba2                            | GTP Towers Issuer LLC, 8.112%, 2/15/15 (144A)                                                                                                                                                                                                                                                                                       |    | 205,192     |
|                                                                                                                                                       | 350,000              |                        | BBB/Baa2                          | Telefonica Emisiones SAU, 5.462%, 2/16/21                                                                                                                                                                                                                                                                                           |    | 394,086     |
|                                                                                                                                                       | 300,000              |                        | BBB/Baa2                          | Telefonica Emisiones SAU, 6.221%, 7/3/17                                                                                                                                                                                                                                                                                            |    | 341,030     |
|                                                                                                                                                       | 350,000              |                        | BBB+/Baa1                         | Verizon Communications, Inc., 6.55%, 9/15/43                                                                                                                                                                                                                                                                                        |    | 431,723     |
|                                                                                                                                                       | 97,000               |                        | BBB+/Baa1                         | Verizon Communications, Inc., 8.75%, 11/1/18                                                                                                                                                                                                                                                                                        |    | 123,917     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 1,733,842   |
|                                                                                                                                                       |                 |                        |                              | Wireless Telecommunication Services - 0.3%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 250,000              |                        | NR/A2                             | Crown Castle Towers LLC, 5.495%, 1/15/17 (144A)                                                                                                                                                                                                                                                                                     | $       | 270,825     |
|                                                                                                                                                       | 140,000              |                        | NR/A2                             | Crown Castle Towers LLC, 6.113%, 1/15/20 (144A)                                                                                                                                                                                                                                                                                     |    | 162,038     |
|                                                                                                                                                       | 100,000              |                        | NR/NR                             | WCP Issuer llc, 6.657%, 8/15/20 (144A)                                                                                                                                                                                                                                                                                              |    | 104,124     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 536,987     |
|                                                                                                                                                       |                 |                        |                              | Total Telecommunication Services                                                                                                                                                                                                                                                                                                    | $       | 2,270,829   |
|                                                                                                                                                       |                 |                        |                              | Utilities - 1.6%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Electric Utilities - 1.1%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 225,000              |                        | A-/A2                             | Commonwealth Edison Co., 6.15%, 9/15/17                                                                                                                                                                                                                                                                                             | $       | 259,136     |
|                                                                                                                                                       | 250,000              | 5.25                        | BBB+/A3                           | Electricite de France SA, Floating Rate Note (Perpetual) (144A)                                                                                                                                                                                                                                                                     |    | 255,125     |
|                                                                                                                                                       | 100,000              |                        | A+/Aa3                            | Electricite de France, 6.0%, 1/22/14 (144A)                                                                                                                                                                                                                                                                                         |    | 109,027     |
|                                                                                                                                                       | 270,000              |                        | BBB/Baa2                          | Enel Finance International NV, 5.125%, 10/7/19 (144A)                                                                                                                                                                                                                                                                               |    | 298,393     |
|                                                                                                                                                       | 200,000              | 8.75                        | BB+/Ba1                           | Enel S.p.A., Floating Rate Note, 9/24/73 (144A)                                                                                                                                                                                                                                                                                     |    | 230,500     |
|                                                                                                                                                       | 93,883               |                        | BB/Baa3                           | FPL Energy American Wind LLC, 6.639%, 6/20/23 (144A)                                                                                                                                                                                                                                                                                |    | 95,524      |
|                                                                                                                                                       | 25,269               |                        | B-/Ba2                            | FPL Energy Wind Funding LLC, 6.876%, 6/27/17 (144A)                                                                                                                                                                                                                                                                                 |    | 24,700      |
|                                                                                                                                                       | 200,000              |                        | BB+/Baa3                          | Israel Electric Corp., Ltd., 6.7%, 2/10/17 (144A)                                                                                                                                                                                                                                                                                   |    | 217,750     |
|                                                                                                                                                       | 200,000              |                        | BB+/Baa3                          | Israel Electric Corp., Ltd., 7.25%, 1/15/19 (144A)                                                                                                                                                                                                                                                                                  |    | 224,750     |
|                                                                                                                                                       | 125,000              |                        | A/A2                              | Nevada Power Co., 6.5%, 8/1/18                                                                                                                                                                                                                                                                                                      |    | 148,247     |
|                                                                                                                                                       | 82,195               |                        | NR/NR                             | Orcal Geothermal, Inc., 6.21%, 12/30/20 (144A)                                                                                                                                                                                                                                                                                      |    | 82,606      |
|                                                                                                                                                       | 275,000              |                        | BBB/Baa2                          | Public Service Co. of New Mexico, 7.95%, 5/15/18                                                                                                                                                                                                                                                                                    |    | 327,424     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,273,182   |
|                                                                                                                                                       |                 |                        |                              | Gas Utilities - 0.1%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | 250,000              |                        | A+/Aa2                            | Southern California Gas Co., 5.125%, 11/15/40                                                                                                                                                                                                                                                                                       | $       | 284,570     |
|                                                                                                                                                       |                 |                        |                              | Multi-Utilities - 0.2%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 415,000              |                        | BBB+/A3                           | New York State Electric & Gas Corp., 6.15%, 12/15/17 (144A)                                                                                                                                                                                                                                                                     | $       | 455,626     |
|                                                                                                                                                       |                 |                        |                              | Independent Power Producers & Energy Traders - 0.2%                                                                                                                                                                                                                                                                             |    |        |
|                                                                                                                                                       | 85,088               |                        | BBB-/NR                           | Alta Wind Holdings LLC, 7.0%, 6/30/35 (144A)                                                                                                                                                                                                                                                                                        | $       | 93,380      |
|                                                                                                                                                       | 223,000              |                        | BB+/Ba1                           | NSG Holdings LLC, 7.75%, 12/15/25 (144A)                                                                                                                                                                                                                                                                                            |    | 238,610     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 331,990     |
|                                                                                                                                                       |                 |                        |                              | Total Utilities                                                                                                                                                                                                                                                                                                                     | $       | 3,345,368   |
|                                                                                                                                                       |                 |                        |                              | TOTAL CORPORATE BONDS                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $35,483,361)                                                                                                                                                                                                                                                                                                                  | $       | 38,563,563  |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 5.5%                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       | 173,064              |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 1/1/41                                                                                                                                                                                                                                                                                                            | $       | 181,448     |
|                                                                                                                                                       | 682,891              |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 2/1/41                                                                                                                                                                                                                                                                                                            |    | 715,473     |
|                                                                                                                                                       | 525,290              |                        | AA+/Aaa                           | Fannie Mae, 4.0%, 2/1/41                                                                                                                                                                                                                                                                                                            |    | 550,661     |
|                                                                                                                                                       | 844,800              |                        | AAA/Aaa                           | Fannie Mae, 4.0%, 7/1/43                                                                                                                                                                                                                                                                                                            |    | 885,301     |
|                                                                                                                                                       | 474,077              |                        | AAA/Aaa                           | Fannie Mae, 4.0%, 8/1/43                                                                                                                                                                                                                                                                                                            |    | 496,927     |
|                                                                                                                                                       | 53,309               |                        | AA+/Aaa                           | Fannie Mae, 4.5%, 11/1/20                                                                                                                                                                                                                                                                                                           |    | 56,678      |
|                                                                                                                                                       | 9,946                |                        | AA+/Aaa                           | Fannie Mae, 4.5%, 12/1/43                                                                                                                                                                                                                                                                                                           |    | 10,751      |
|                                                                                                                                                       | 725,413              |                        | AA+/Aaa                           | Fannie Mae, 4.5%, 4/1/41                                                                                                                                                                                                                                                                                                            |    | 779,777     |
|                                                                                                                                                       | 12,850               |                        | AA+/Aaa                           | Fannie Mae, 5.0%, 12/1/17                                                                                                                                                                                                                                                                                                           |    | 13,640      |
|                                                                                                                                                       | 46,706               |                        | AAA/Aaa                           | Fannie Mae, 5.0%, 5/1/18                                                                                                                                                                                                                                                                                                            |    | 49,584      |
|                                                                                                                                                       | 77,161               |                        | AAA/Aaa                           | Fannie Mae, 5.0%, 6/1/37                                                                                                                                                                                                                                                                                                            |    | 84,444      |
|                                                                                                                                                       | 205,529              |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 10/1/35                                                                                                                                                                                                                                                                                                           |    | 228,545     |
|                                                                                                                                                       | 27,737               |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 12/1/34                                                                                                                                                                                                                                                                                                           |    | 30,673      |
|                                                                                                                                                       | 106,208              |                        | AA+/Aaa                           | Fannie Mae, 5.5%, 12/1/35                                                                                                                                                                                                                                                                                                           |    | 117,844     |
|                                                                                                                                                       | 103,358              |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 12/1/35                                                                                                                                                                                                                                                                                                           |    | 114,636     |
|                                                                                                                                                       | 8,967                |                        | AA+/Aaa                           | Fannie Mae, 5.5%, 2/1/18                                                                                                                                                                                                                                                                                                            |    | 9,534       |
|                                                                                                                                                       | 114,444              |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 3/1/23                                                                                                                                                                                                                                                                                                            |    | 124,738     |
|                                                                                                                                                       | 14,075               |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 3/1/34                                                                                                                                                                                                                                                                                                            |    | 15,541      |
|                                                                                                                                                       | 93,213               |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 5/1/37                                                                                                                                                                                                                                                                                                            |    | 102,845     |
|                                                                                                                                                       | 318,037              |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 5/1/38                                                                                                                                                                                                                                                                                                            |    | 350,898     |
|                                                                                                                                                       | 6,532                |                        | AA+/Aaa                           | Fannie Mae, 5.5%, 7/1/23                                                                                                                                                                                                                                                                                                            |    | 7,214       |
|                                                                                                                                                       | 1,938                |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 8/1/14                                                                                                                                                                                                                                                                                                            |    | 1,957       |
|                                                                                                                                                       | 5,334                |                        | AAA/Aaa                           | Fannie Mae, 5.5%, 9/1/17                                                                                                                                                                                                                                                                                                            |    | 5,671       |
|                                                                                                                                                       | 6,137                |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 1/1/29                                                                                                                                                                                                                                                                                                            |    | 6,943       |
|                                                                                                                                                       | 59,056               |                        | AAA/Aaa                           | Fannie Mae, 6.0%, 10/1/37                                                                                                                                                                                                                                                                                                           |    | 65,874      |
|                                                                                                                                                       | 45,464               |                        | AAA/Aaa                           | Fannie Mae, 6.0%, 12/1/33                                                                                                                                                                                                                                                                                                           |    | 51,275      |
|                                                                                                                                                       | 37,012               |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 12/1/37                                                                                                                                                                                                                                                                                                           |    | 41,315      |
|                                                                                                                                                       | 8,682                |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 3/1/33                                                                                                                                                                                                                                                                                                            |    | 9,694       |
|                                                                                                                                                       | 5,759                |                        | AA+/Aaa                           | Fannie Mae, 6.0%, 8/1/32                                                                                                                                                                                                                                                                                                            |    | 6,496       |
|                                                                                                                                                       | 2,027                |                        | AAA/Aaa                           | Fannie Mae, 6.0%, 9/1/29                                                                                                                                                                                                                                                                                                            |    | 2,293       |
|                                                                                                                                                       | 255                  |                        | AA+/Aaa                           | Fannie Mae, 6.5%, 1/1/15                                                                                                                                                                                                                                                                                                            |    | 258         |
|                                                                                                                                                       | 17,522               |                        | AAA/Aaa                           | Fannie Mae, 6.5%, 10/1/32                                                                                                                                                                                                                                                                                                           |    | 19,709      |
|                                                                                                                                                       | 24,974               |                        | AA+/Aaa                           | Fannie Mae, 6.5%, 12/1/21                                                                                                                                                                                                                                                                                                           |    | 28,131      |
|                                                                                                                                                       | 29,490               |                        | AAA/Aaa                           | Fannie Mae, 6.5%, 4/1/29                                                                                                                                                                                                                                                                                                            |    | 32,793      |
|                                                                                                                                                       | 51,091               |                        | AAA/Aaa                           | Fannie Mae, 6.5%, 5/1/32                                                                                                                                                                                                                                                                                                            |    | 57,505      |
|                                                                                                                                                       | 6,230                |                        | AA+/Aaa                           | Fannie Mae, 6.5%, 7/1/29                                                                                                                                                                                                                                                                                                            |    | 7,015       |
|                                                                                                                                                       | 36,957               |                        | AAA/Aaa                           | Fannie Mae, 6.5%, 9/1/32                                                                                                                                                                                                                                                                                                            |    | 42,284      |
|                                                                                                                                                       | 36,538               |                        | AAA/Aaa                           | Fannie Mae, 7.0%, 1/1/36                                                                                                                                                                                                                                                                                                            |    | 39,261      |
|                                                                                                                                                       | 39,878               |                        | AAA/Aaa                           | Fannie Mae, 7.0%, 10/1/19                                                                                                                                                                                                                                                                                                           |    | 43,454      |
|                                                                                                                                                       | 1,245                |                        | AAA/Aaa                           | Fannie Mae, 8.0%, 10/1/30                                                                                                                                                                                                                                                                                                           |    | 1,489       |
|                                                                                                                                                       | 3,090                |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 2/1/29                                                                                                                                                                                                                                                                                                            |    | 3,495       |
|                                                                                                                                                       | 6,112                |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 3/1/31                                                                                                                                                                                                                                                                                                            |    | 7,128       |
|                                                                                                                                                       | 1,403                |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 4/1/20                                                                                                                                                                                                                                                                                                            |    | 1,541       |
|                                                                                                                                                       | 460                  |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 4/1/30                                                                                                                                                                                                                                                                                                            |    | 532         |
|                                                                                                                                                       | 413                  |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 5/1/31                                                                                                                                                                                                                                                                                                            |    | 470         |
|                                                                                                                                                       | 550                  |                        | AA+/Aaa                           | Fannie Mae, 8.0%, 7/1/30                                                                                                                                                                                                                                                                                                            |    | 635         |
|                                                                                                                                                       | 307,489              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 3.5%, 11/1/28                                                                                                                                                                                                                                                                                     |    | 324,095     |
|                                                                                                                                                       | 487,255              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.0%, 1/1/41                                                                                                                                                                                                                                                                                      |    | 510,178     |
|                                                                                                                                                       | 209,951              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.0%, 11/1/40                                                                                                                                                                                                                                                                                     |    | 219,820     |
|                                                                                                                                                       | 237,814              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.0%, 11/1/40                                                                                                                                                                                                                                                                                     |    | 248,974     |
|                                                                                                                                                       | 381,580              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.5%, 5/1/40                                                                                                                                                                                                                                                                                      |    | 410,060     |
|                                                                                                                                                       | 377,608              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.5%, 5/1/41                                                                                                                                                                                                                                                                                      |    | 405,927     |
|                                                                                                                                                       | 259,822              |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 4.5%, 7/1/40                                                                                                                                                                                                                                                                                      |    | 279,234     |
|                                                                                                                                                       | 150,234              |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 4.5%, 8/1/34                                                                                                                                                                                                                                                                                      |    | 161,854     |
|                                                                                                                                                       | 57,604               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 5.0%, 11/1/34                                                                                                                                                                                                                                                                                     |    | 63,239      |
|                                                                                                                                                       | 120,959              |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 5.0%, 8/1/37                                                                                                                                                                                                                                                                                      |    | 132,093     |
|                                                                                                                                                       | 11,035               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 5.5%, 10/1/16                                                                                                                                                                                                                                                                                     |    | 11,697      |
|                                                                                                                                                       | 53,062               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 5.5%, 11/1/34                                                                                                                                                                                                                                                                                     |    | 58,928      |
|                                                                                                                                                       | 49,347               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 1/1/38                                                                                                                                                                                                                                                                                      |    | 54,866      |
|                                                                                                                                                       | 80,049               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 10/1/38                                                                                                                                                                                                                                                                                     |    | 89,098      |
|                                                                                                                                                       | 36,415               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 6.0%, 4/1/33                                                                                                                                                                                                                                                                                      |    | 40,565      |
|                                                                                                                                                       | 17,628               |                        | AA+/Aaa                           | Federal Home Loan Mortgage Corp., 6.5%, 10/1/33                                                                                                                                                                                                                                                                                     |    | 19,792      |
|                                                                                                                                                       | 75,768               |                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., 7.0%, 10/1/46                                                                                                                                                                                                                                                                                     |    | 84,499      |
|                                                                                                                                                       | 114,761              | 2.14                        | AAA/Aaa                           | Federal Home Loan Mortgage Corp., Floating Rate Note, 11/1/35                                                                                                                                                                                                                                                                       |    | 121,466     |
|                                                                                                                                                       | 90,781               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.0%, 2/15/18                                                                                                                                                                                                                                                                           |    | 95,528      |
|                                                                                                                                                       | 88,307               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.0%, 2/15/18                                                                                                                                                                                                                                                                           |    | 94,120      |
|                                                                                                                                                       | 25,323               |                        | AA+/Aaa                           | Government National Mortgage Association I, 5.5%, 8/15/33                                                                                                                                                                                                                                                                           |    | 28,321      |
|                                                                                                                                                       | 29,559               |                        | AAA/Aaa                           | Government National Mortgage Association I, 5.5%, 9/15/33                                                                                                                                                                                                                                                                           |    | 33,404      |
|                                                                                                                                                       | 33,669               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 10/15/33                                                                                                                                                                                                                                                                          |    | 38,771      |
|                                                                                                                                                       | 35,473               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/34                                                                                                                                                                                                                                                                           |    | 40,823      |
|                                                                                                                                                       | 225,873              |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.0%, 9/15/38                                                                                                                                                                                                                                                                           |    | 254,092     |
|                                                                                                                                                       | 30,477               |                        | AA+/Aaa                           | Government National Mortgage Association I, 6.5%, 10/15/28                                                                                                                                                                                                                                                                          |    | 35,242      |
|                                                                                                                                                       | 48,374               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 12/15/32                                                                                                                                                                                                                                                                          |    | 55,387      |
|                                                                                                                                                       | 60,542               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/31                                                                                                                                                                                                                                                                           |    | 68,438      |
|                                                                                                                                                       | 43,262               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 5/15/33                                                                                                                                                                                                                                                                           |    | 48,895      |
|                                                                                                                                                       | 46,004               |                        | AAA/Aaa                           | Government National Mortgage Association I, 6.5%, 6/15/32                                                                                                                                                                                                                                                                           |    | 51,984      |
|                                                                                                                                                       | 2,724                |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 4/15/28                                                                                                                                                                                                                                                                           |    | 3,042       |
|                                                                                                                                                       | 715                  |                        | AA+/Aaa                           | Government National Mortgage Association I, 7.0%, 8/15/28                                                                                                                                                                                                                                                                           |    | 842         |
|                                                                                                                                                       | 3,477                |                        | AAA/Aaa                           | Government National Mortgage Association I, 8.0%, 2/15/30                                                                                                                                                                                                                                                                           |    | 3,545       |
|                                                                                                                                                       | 69,047               |                        | AAA/Aaa                           | Government National Mortgage Association II, 5.5%, 2/20/34                                                                                                                                                                                                                                                                          |    | 78,082      |
|                                                                                                                                                       | 84,779               |                        | AA+/Aaa                           | Government National Mortgage Association II, 5.5%, 4/20/35                                                                                                                                                                                                                                                                          |    | 94,079      |
|                                                                                                                                                       | 94,913               |                        | AAA/Aaa                           | Government National Mortgage Association II, 6.5%, 11/20/28                                                                                                                                                                                                                                                                         |    | 107,877     |
|                                                                                                                                                       | 3,828                |                        | AAA/Aaa                           | Government National Mortgage Association II, 7.5%, 9/20/29                                                                                                                                                                                                                                                                          |    | 4,603       |
|                                                                                                                                                       | 250,000              |                        | AA+/Aaa                           | U.S. Treasury Bonds, 3.125%, 2/15/43                                                                                                                                                                                                                                                                                                |    | 234,961     |
|                                                                                                                                                       | 370,000              |                        | AA+/Aaa                           | U.S. Treasury Bonds, 5.25%, 11/15/28                                                                                                                                                                                                                                                                                                |    | 467,067     |
|                                                                                                                                                       | 350,000              |                        | AA+/Aaa                           | U.S. Treasury Bonds, 5.375%, 2/15/31                                                                                                                                                                                                                                                                                                |    | 452,320     |
|                                                                                                                                                       | 100,000              |                        | AA+/Aaa                           | U.S. Treasury Notes, 2.625%, 11/15/20                                                                                                                                                                                                                                                                                               |    | 103,117     |
|                                                                                                                                                       | 165,000              |                        | AA+/Aaa                           | U.S. Treasury Notes, 3.125%, 5/15/19                                                                                                                                                                                                                                                                                                |    | 176,447     |
|                                                                                                                                                       | 115,000              |                        | AA+/Aaa                           | U.S. Treasury Notes, 3.375%, 11/15/19                                                                                                                                                                                                                                                                                               |    | 124,416     |
|                                                                                                                                                       |                 |                        |                              | TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $10,873,324)                                                                                                                                                                                                                                                                                                                  | $       | 11,336,158  |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | FOREIGN GOVERNMENT BONDS - 0.2%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 200,000              |                        | BBB/Baa1                          | Commonwealth of the Bahamas, 5.75%, 1/16/24 (144A)                                                                                                                                                                                                                                                                                  | $       | 206,200     |
| EURO                                                                                                                                                       | 75,000               |                        | NR/Baa2                           | Italy Buoni Poliennali Del Tesoro, 4.75%, 8/1/23 (144A) (144A)                                                                                                                                                                                                                                                                      |    | 119,166     |
|                                                                                                                                                       |                 |                        |                              | TOTAL FOREIGN GOVERNMENT BONDS                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $297,541)                                                                                                                                                                                                                                                                                                                     | $       | 325,366     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | MUNICIPAL BONDS - 2.1%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal Airport - 0.3%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 250,000              |                        | BBB/Baa1                          | Indianapolis Airport Authority, 5.1%, 1/15/17                                                                                                                                                                                                                                                                                       | $       | 273,508     |
|                                                                                                                                                       | 400,000              |                        | AA-/A2                            | Massachusetts Port Authority, 5.0%, 7/1/16                                                                                                                                                                                                                                                                                          |    | 429,320     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 702,828     |
|                                                                                                                                                       |                 |                        |                              | Municipal Education - 0.1%                                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       | 100,000              |                        | AAA/Aaa                           | Massachusetts Development Finance Agency, 4.844%, 9/1/43                                                                                                                                                                                                                                                                            | $       | 110,058     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal General - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 100,000              |                        | BBB-/Baa2                         | Central Texas Regional Mobility Authority, 0.0%, 1/1/25                                                                                                                                                                                                                                                                             | $       | 61,877      |
|                                                                                                                                                       | 200,000              |                        | AA/A2                             | JobsOhio Beverage System, 3.985%, 1/1/29                                                                                                                                                                                                                                                                                            |    | 199,126     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 261,003     |
|                                                                                                                                                       |                 |                        |                              | Higher Municipal Education - 1.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 100,000              |                        | AAA/Aaa                           | Health & Educational Facilities Authority of the State of Missouri, 3.685%, 2/15/47                                                                                                                                                                                                                                             | $       | 89,957      |
|                                                                                                                                                       | 100,000              |                        | NR/A2                             | Massachusetts Development Finance Agency, 5.0%, 3/1/39                                                                                                                                                                                                                                                                              |    | 107,723     |
|                                                                                                                                                       | 150,000              |                        | AA+/Aa1                           | Massachusetts Development Finance Agency, 5.0%, 7/1/43                                                                                                                                                                                                                                                                              |    | 166,023     |
|                                                                                                                                                       | 250,000              |                        | AAA/Aaa                           | Massachusetts Institute of Technology, 5.6%, 7/1/11                                                                                                                                                                                                                                                                                 |    | 314,336     |
|                                                                                                                                                       | 440,000              |                        | AAA/Aaa                           | New York State Dormitory Authority, 5.0%, 10/1/41                                                                                                                                                                                                                                                                                   |    | 481,369     |
|                                                                                                                                                       | 300,000              |                        | AAA/Aaa                           | The Board of Trustees of The Leland Stanford Junior University, 4.75%, 5/1/19                                                                                                                                                                                                                                                       |    | 337,004     |
|                                                                                                                                                       | 250,000              |                        | A+/A1                             | The George Washington University, 1.827%, 9/15/17                                                                                                                                                                                                                                                                                   |    | 249,378     |
|                                                                                                                                                       | 137,000              |                        | A+/A1                             | The George Washington University, 3.485%, 9/15/22                                                                                                                                                                                                                                                                                   |    | 135,402     |
|                                                                                                                                                       | 200,000              |                        | AA/Aa2                            | University of California, 4.062%, 5/15/33                                                                                                                                                                                                                                                                                           |    | 188,628     |
|                                                                                                                                                       | 100,000              |                        | AA/Aa1                            | Virginia College Building Authority, 4.0%, 9/1/26                                                                                                                                                                                                                                                                                   |    | 108,321     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 2,178,141   |
|                                                                                                                                                       |                 |                        |                              | Municipal Medical - 0.1%                                                                                                                                                                                                                                                                                                            |    |        |
|                                                                                                                                                       | 150,000              |                        | AA/Aa2                            | Massachusetts Development Finance Agency, 5.0%, 7/1/39                                                                                                                                                                                                                                                                              | $       | 165,039     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal Power - 0.1%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 250,000              |                        | AA-/Aa1                           | Energy Northwest, 5.0%, 7/1/35                                                                                                                                                                                                                                                                                                      | $       | 277,748     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal Transportation - 0.1%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 180,000              |                        | AA-/Aa3                           | Maine Turnpike Authority, 5.0%, 7/1/42                                                                                                                                                                                                                                                                                              | $       | 195,302     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal Water - 0.1%                                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       | 150,000              |                        | AA+/Aa2                           | County of King Washington Sewer Revenue, 4.25%, 1/1/36                                                                                                                                                                                                                                                                              | $       | 153,675     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Municipal Obligation - 0.1%                                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 250,000              |                        | AAA/Aaa                           | City of Irving Texas, 4.0%, 9/15/27                                                                                                                                                                                                                                                                                                 | $       | 269,968     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | TOTAL MUNICIPAL BONDS                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $4,133,783)                                                                                                                                                                                                                                                                                                                   | $       | 4,313,762   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | SENIOR FLOATING RATE LOAN INTERESTS - 1.3%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | Capital Goods - 0.2%                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Aerospace & Defense - 0.2%                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 99,746               | 2.73                        | BB+/Ba1                           | Spirit AeroSystems, Inc., 9/30/20                                                                                                                                                                                                                                                                                                   | $       | 99,908      |
|                                                                                                                                                       | 300,000              | 3.25                        | BB-/Ba3                           | Wesco Aircraft Hardare Corp., Tranche B Term Loan (First Lien), 2/24/21                                                                                                                                                                                                                                                             |    | 299,325     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 399,233     |
|                                                                                                                                                       |                 |                        |                              | Total Capital Goods                                                                                                                                                                                                                                                                                                                 | $       | 399,233     |
|                                                                                                                                                       |                 |                        |                              | Transportation - 0.1%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       |                 |                        |                              | Trucking - 0.1%                                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 112,760              | 4.00                        | BB/Ba1                            | Swift Transportation Co. LLC, Tranche B-2 Term Loan (2013), 12/21/17                                                                                                                                                                                                                                                                | $       | 113,182     |
|                                                                                                                                                       |                 |                        |                              | Total Transportation                                                                                                                                                                                                                                                                                                                | $       | 113,182     |
|                                                                                                                                                       |                 |                        |                              | Automobiles & Components - 0.2%                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Automobile Manufacturers - 0.2%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 486,250              | 3.50                        | BB+/Ba1                           | Chrysler Group LLC, 5/24/17                                                                                                                                                                                                                                                                                                         | $       | 486,250     |
|                                                                                                                                                       |                 |                        |                              | Total Automobiles & Components                                                                                                                                                                                                                                                                                                  | $       | 486,250     |
|                                                                                                                                                       |                 |                        |                              | Consumer Durables & Apparel - 0.0%                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       |                 |                        |                              | Apparel, Accessories & Luxury Goods - 0.0%                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       | 105,000              | 3.25                        | BBB-/Ba1                          | PVH Corp., Tranche B Term Loan, 12/19/19                                                                                                                                                                                                                                                                                            | $       | 105,443     |
|                                                                                                                                                       |                 |                        |                              | Total Consumer Durables & Apparel                                                                                                                                                                                                                                                                                               | $       | 105,443     |
|                                                                                                                                                       |                 |                        |                              | Media - 0.1%                                                                                                                                                                                                                                                                                                                        |    |        |
|                                                                                                                                                       |                 |                        |                              | Broadcasting - 0.0%                                                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       | 74,624               | 3.00                        | NR/Ba1                            | Sinclair Television Group, Inc., 4/19/20                                                                                                                                                                                                                                                                                            | $       | 73,654      |
|                                                                                                                                                       |                 |                        |                              | Movies & Entertainment - 0.1%                                                                                                                                                                                                                                                                                                   |    |        |
|                                                                                                                                                       | 168,751              | 3.25                        | NR/Baa2                           | Kasima LLC, 5/17/21                                                                                                                                                                                                                                                                                                                 | $       | 168,118     |
|                                                                                                                                                       |                 |                        |                              | Total Media                                                                                                                                                                                                                                                                                                                         | $       | 241,772     |
|                                                                                                                                                       |                 |                        |                              | Diversified Financials - 0.1%                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              | Other Diversified Financial Services - 0.1%                                                                                                                                                                                                                                                                                         |    |        |
|                                                                                                                                                       | 150,000              | 0.00                        | BBB-/Ba2                          | Delos Finance SARL, Tranche B Term Loan, 2/27/21                                                                                                                                                                                                                                                                                    | $       | 149,750     |
|                                                                                                                                                       |                 |                        |                              | Total Diversified Financials                                                                                                                                                                                                                                                                                                        | $       | 149,750     |
|                                                                                                                                                       |                 |                        |                              | Technology Hardware & Equipment - 0.2%                                                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | Communications Equipment - 0.2%                                                                                                                                                                                                                                                                                                     |    |        |
|                                                                                                                                                       | 173,686              | 2.73                        | BB+/Ba2                           | Commscope, Inc., Tranche 3 Term Loan, 1/21/17                                                                                                                                                                                                                                                                                       | $       | 173,795     |
|                                                                                                                                                       | 260,530              | 3.25                        | BB+/Ba2                           | Commscope, Inc., Tranche 4 Term Loan, 1/14/18                                                                                                                                                                                                                                                                                       |    | 261,124     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 434,919     |
|                                                                                                                                                       |                 |                        |                              | Total Technology Hardware & Equipment                                                                                                                                                                                                                                                                                           | $       | 434,919     |
|                                                                                                                                                       |                 |                        |                              | Semiconductors & Semiconductor Equipment - 0.1%                                                                                                                                                                                                                                                                                 |    |        |
|                                                                                                                                                       |                 |                        |                              | Semiconductors - 0.1%                                                                                                                                                                                                                                                                                                               |    |        |
|                                                                                                                                                       | 130,000              | 0.00                        | BBB-/Ba1                          | AVAGO Technologies Ltd., Term Loan, (First Lien), 4/16/21                                                                                                                                                                                                                                                                           | $       | 130,457     |
|                                                                                                                                                       |                 |                        |                              | Total Semiconductors & Semiconductor Equipment                                                                                                                                                                                                                                                                                  | $       | 130,457     |
|                                                                                                                                                       |                 |                        |                              | Utilities - 0.3%                                                                                                                                                                                                                                                                                                                    |    |        |
|                                                                                                                                                       |                 |                        |                              | Electric Utilities - 0.3%                                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       | 400,000              | 0.00                        | B+/Ba3                            | Atlantic Power LP, 2/20/21                                                                                                                                                                                                                                                                                                          | $       | 403,500     |
|                                                                                                                                                       | 224,436              | 0.24                        | BB/Ba3                            | Calpine Construction Finance Co LP, 1/3/22                                                                                                                                                                                                                                                                                          |    | 220,439     |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                | $       | 623,939     |
|                                                                                                                                                       |                 |                        |                              | Total Utilities                                                                                                                                                                                                                                                                                                                     | $       | 623,939     |
|                                                                                                                                                       |                 |                        |                              | TOTAL SENIOR FLOATING RATE LOAN INTERESTS                                                                                                                                                                                                                                                                                           |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $2,675,302)                                                                                                                                                                                                                                                                                                                   | $       | 2,684,945   |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | TOTAL INVESTMENT IN SECURITIES - 99.6%                                                                                                                                                                                                                                                                                              |    |        |
|                                                                                                                                                       |                 |                        |                              | (Cost $172,386,352) (a)                                                                                                                                                                                                                                                                                                             | $       | 207,090,523 |
|                                                                                                                                                       |                 |                        |                              | OTHER ASSETS & LIABILITIES - 0.4%                                                                                                                                                                                                                                                                                               | $       | 912,479     |
|                                                                                                                                                       |                 |                        |                              | TOTAL NET ASSETS - 100.0%                                                                                                                                                                                                                                                                                                           | $       | 208,003,002 |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | *                    |                        |                              | Non-income producing security.                                                                                                                                                                                                                                                                                                      |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | 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, 2014, the value of these securities amounted to $18,537,710 or 8.9% of total net assets. |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | (A.D.R.)             |                        |                              | American Depositary Receipts.                                                                                                                                                                                                                                                                                                       |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | (a)                  |                        |                              | At April 30, 2014, the net unrealized appreciation on investments based on                                                                                                                                                                                                                                                          |    |        |
|                                                                                                                                                       |                 |                        |                              | cost for federal income tax purposes of $172,718,227 was as follows:                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Aggregate gross unrealized appreciation for all investments in which                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | there is an excess of value over tax cost                                                                                                                                                                                                                                                                                           | $       | 36,161,084  |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Aggregate gross unrealized depreciation for all investments in which                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | there is an excess of tax cost over value                                                                                                                                                                                                                                                                                           |    | (1,788,788) |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       |                 |                        |                              | Net unrealized appreciation                                                                                                                                                                                                                                                                                                         | $       | 34,372,296  |
|                                                                                                                                                       |                 |                        |                              |                                                                                                                                                                                                                                                                                                                                |    |        |
|                                                                                                                                                       | (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, 2014, in valuing the Fund's assets:                                                          |                 |                        |

|                                                                                           |   | Level 1 |        |   | Level 2 |   |       | Level 3 |   |   | Total  |   |
|------------------------------------------------------------------------------------------------|--------|---------|-------------|--------|---------|--------|------------|---------|--------|--------|--------|--------|
| Preferred stocks                                                                               |   |    |        |   |    |   |       |    |   |   |   |   |
|  Banks                                                                                    |   |    |        |   |    |   |       |    |   |   |   |   |
|   Regional Banks                                                                     |   | $       | -           |   |    | $      | 102,719    |    |   |   | -      |   |   | $ | 102,719 |   |
|  All Other preferred stocks                                                               |   |    | 1,196,177   |   |    |   | -          |    |   |   | -      |   |   |   | 1,196,177 |   |
| Convertible preferred stock                                                                    |   |    | 836,140     |   |    |   | -          |    |   |   | -      |   |   |   | 836,140 |   |
| Common stocks                                                                                  |   |    | 131,672,142 |   |    |   | -          |    |   |   | -      |   |   |   | 131,672,142 |   |
| Asset backed securities                                                                        |   |    | -           |   |    |   | 3,939,194  |    |   |   | -      |   |   |   | 3,939,194 |   |
| Collateralized mortgage obligations                                                            |   |    | -           |   |    |   | 12,120,357 |    |   |   | -      |   |   |   | 12,120,357 |   |
| Corporate bonds                                                                                |   |    | -           |   |    |   | 38,563,563 |    |   |   | -      |   |   |   | 38,563,563 |   |
| U.S. government and agency obligations                                                         |   |    | -           |   |    |   | 11,336,158 |    |   |   | -      |   |   |   | 11,336,158 |   |
| Foreign government bond                                                                        |   |    | -           |   |    |   | 325,366    |    |   |   | -      |   |   |   | 325,366 |   |
| Municipal bonds                                                                                |   |    | -           |   |    |   | 4,313,762  |    |   |   | -      |   |   |   | 4,313,762 |   |
| Senior Floating Rate Loan Interests                                                            |   |    | -           |   |    |   | 2,684,945  |    |   |   | -      |   |   |   | 2,684,945 |   |
| Total                                                                                          |   | $       | 133,704,459 |   |    | $      | 73,386,064 |    |   |   | -      |   |   | $ | 207,090,523 |   |
|                                                                                           |   |    |        |   |    |   |       |    |   |   |   |   |   |   |   |   |
| Other Financial Instruments                                                                    |   |    |        |   |    |   |       |    |   |   |   |   |   |   |   |   |
| Net unrealized appreciation on futures contracts                                               |   | $       | 20,787      |   |    | $      | -          |    |   |   | -      |   |   | $ | 20,787 |   |
| Total Other Financial Instruments                                                              |   | $       | 20,787      |   |    | $      | -          |    |   |   | -      |   |   | $ | 20,787 |   |
|                                                                                           |   |    |        |   |    |   |       |    |   |   |   |   |   |   |   |   |
| During the six months ended April 30, 2014, there were no transfers between Levels 1, 2 and 3. |   |    |        |   |    |   |       |    |   |