# EDGAR Filing Document

**Accession Number:** 0000908406
**File Stem:** 0000908406-25-000112
**Filing Date:** 2025-11
**Character Count:** 883093
**Document Hash:** 961c2eb5aa1d2f18ba44bfa379fe19da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000908406-25-000112.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000908406-25-000112

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**EFFECTIVENESS DATE**: 20251126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000908406

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07822
- **FILM NUMBER:** 251525971

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** 816-531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BENHAM INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19930629

## Series and Classes Contracts Data

### DIVERSIFIED BOND FUND (Series ID: S000006579)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000017955 | INVESTOR CLASS | ADFIX           |
| C000017956 | A CLASS        | ADFAX           |
| C000017957 | I CLASS        | ACBPX           |
| C000017960 | C CLASS        | CDBCX           |
| C000017961 | R CLASS        | ADVRX           |
| C000131613 | R6 CLASS       | ADDVX           |
| C000189684 | Y CLASS        | ADVYX           |
| C000189686 | R5 CLASS       | ADRVX           |
| C000237256 | G CLASS        | ACDOX           |

### HIGH-YIELD FUND (Series ID: S000006580)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000017962 | INVESTOR CLASS | ABHIX           |
| C000017963 | A CLASS        | AHYVX           |
| C000017964 | R5 CLASS       | ACYIX           |
| C000017967 | C CLASS        | AHDCX           |
| C000017968 | R CLASS        | AHYRX           |
| C000131614 | R6 CLASS       | AHYDX           |
| C000189687 | I CLASS        | AHYHX           |
| C000189688 | Y CLASS        | AHYLX           |

### SHORT DURATION INFLATION PROTECTION BOND FUND (Series ID: S000006581)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000017969 | INVESTOR CLASS | APOIX           |
| C000017970 | R5 CLASS       | APISX           |
| C000017971 | A CLASS        | APOAX           |
| C000017973 | C CLASS        | APOCX           |
| C000017974 | R CLASS        | APORX           |
| C000131615 | R6 CLASS       | APODX           |
| C000189689 | I CLASS        | APOHX           |
| C000189690 | Y CLASS        | APOYX           |
| C000194391 | G CLASS        | APOGX           |

### U.S. GOVERNMENT MONEY MARKET FUND (Series ID: S000006582)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000017975 | INVESTOR CLASS | TCRXX           |
| C000162988 | A CLASS        | AGQXX           |
| C000162989 | C CLASS        | AGHXX           |

### PRIME MONEY MARKET FUND (Series ID: S000006583)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000017976 | INVESTOR CLASS | BPRXX           |
| C000017977 | A CLASS        | ACAXX           |
| C000017980 | C CLASS        | ARCXX           |

### CORE PLUS FUND (Series ID: S000014384)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000039168 | INVESTOR CLASS | ACCNX           |
| C000039169 | R5 CLASS       | ACCUX           |
| C000039170 | A CLASS        | ACCQX           |
| C000039172 | C CLASS        | ACCKX           |
| C000039173 | R CLASS        | ACCPX           |
| C000189691 | I CLASS        | ACCTX           |
| C000222299 | G CLASS        | ACCYX           |

### SHORT DURATION FUND (Series ID: S000014385)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000039175 | C CLASS        | ACSKX           |
| C000039176 | R CLASS        | ACSPX           |
| C000039177 | INVESTOR CLASS | ACSNX           |
| C000039178 | R5 CLASS       | ACSUX           |
| C000039179 | A CLASS        | ACSQX           |
| C000189692 | I CLASS        | ASHHX           |
| C000194393 | R6 CLASS       | ASDDX           |
| C000224786 | G CLASS        | ASDOX           |

### SHORT DURATION STRATEGIC INCOME FUND (Series ID: S000046093)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000144162 | INVESTOR CLASS | ASDVX           |
| C000144163 | R5 CLASS       | ASDJX           |
| C000144164 | A CLASS        | ASADX           |
| C000144165 | C CLASS        | ASCDX           |
| C000144166 | R CLASS        | ASDRX           |
| C000144167 | R6 CLASS       | ASXDX           |
| C000189693 | I CLASS        | ASDHX           |
| C000189694 | Y CLASS        | ASYDX           |

### MULTISECTOR INCOME FUND (Series ID: S000046094)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000144168 | C CLASS        | ASIHX           |
| C000144169 | R CLASS        | ASIWX           |
| C000144170 | R6 CLASS       | ASIPX           |
| C000144171 | INVESTOR CLASS | ASIEX           |
| C000144172 | R5 CLASS       | ASIJX           |
| C000144173 | A CLASS        | ASIQX           |
| C000189695 | I CLASS        | ASIGX           |
| C000189696 | Y CLASS        | ASYIX           |

### HIGH INCOME FUND (Series ID: S000058290)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000191071 | INVESTOR CLASS | AHIVX           |
| C000191072 | I CLASS        | AHIIX           |
| C000191073 | Y CLASS        | NPHIX           |
| C000191074 | A CLASS        | AHIAX           |
| C000191075 | R5 CLASS       | AHIEX           |
| C000191076 | R6 CLASS       | AHIDX           |
| C000237257 | G CLASS        | ACHFX           |

?xml version='1.0' encoding='ASCII'? ck0000908406-20250930

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investment Company Act file number | Investment Company Act file number | **811-07822** | **811-07822** | **811-07822** |
| **AMERICAN CENTURY INVESTMENT TRUST** | **AMERICAN CENTURY INVESTMENT TRUST** | **AMERICAN CENTURY INVESTMENT TRUST** | **AMERICAN CENTURY INVESTMENT TRUST** | **AMERICAN CENTURY INVESTMENT TRUST** |
| (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) |
| **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **64111** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |
| **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** |
| (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | **816-531-5575** | **816-531-5575** |
| Date of fiscal year end: | **03-31** | **03-31** | **03-31** | **03-31** |
| Date of reporting period: | **09-30-2025** | **09-30-2025** | **09-30-2025** | **09-30-2025** |

---

------

**ITEM 1. REPORTS TO STOCKHOLDERS.**

(a) ------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ACCNX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $28 | 0.55% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932493

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ACCTX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $23 | 0.45% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J101

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACCQX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $41 | 0.80% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932543

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ACCKX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $79 | 1.55% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932527

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ACCPX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $54 | 1.05% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932519

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACCUX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $18 | 0.35% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932485

------

**SEMIANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACCYX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $1 | 0.01% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $428784417 |
| Management Fees (dollars paid during the reporting period) | $1125397 |
| Portfolio Turnover Rate | 96% |
| Total Number of Portfolio Holdings | 580 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 31.7% |
| U.S. Government Agency Mortgage-Backed Securities | 27.4% |
| U.S. Treasury Securities | 14.1% |
| Collateralized Mortgage Obligations | 8.2% |
| Convertible Preferred Securities | 5.9% |
| Asset-Backed Securities | 3.8% |
| Preferred Securities | 2.5% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Collateralized Loan Obligations | 2.0% |
| Municipal Securities | 1.2% |
| Sovereign Governments and Agencies | 1.1% |
| Short-Term Investments | 2.0% |
| Other Assets and Liabilities | (2.2)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932113

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ADFIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.60% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932402

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ACBPX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.40% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932600

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ADVYX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $19 | 0.37% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J309

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ADFAX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $43 | 0.85% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932501

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (CDBCX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $81 | 1.60% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932824

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ADVRX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $56 | 1.10% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932717

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ADRVX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $20 | 0.40% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J200

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ADDVX)** | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $18 | 0.35% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932410

------

**SEMIANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACDOX)** | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $1 | 0.01% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $4893022968 |
| Management Fees (dollars paid during the reporting period) | $3588085 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 521 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Government Agency Mortgage-Backed Securities | 31.6% |
| Corporate Bonds | 20.8% |
| U.S. Treasury Securities | 17.5% |
| Collateralized Mortgage Obligations | 13.3% |
| Asset-Backed Securities | 4.5% |
| Convertible Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 2.5% |
| Preferred Securities | 2.0% |
| Collateralized Loan Obligations | 1.8% |
| Municipal Securities | 1.1% |
| U.S. Government Agency Securities | 1.0% |
| Sovereign Governments and Agencies | 0.7% |
| Short-Term Investments | 2.5% |
| Other Assets and Liabilities | (3.0)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J788

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AHIVX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $40 | 0.78% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932170

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AHIIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $35 | 0.68% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932162

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (NPHIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932154

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AHIAX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $53 | 1.03% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932147

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AHIEX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932139

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AHIDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $27 | 0.53% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932121

------

**SEMIANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACHFX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1910964010 |
| Management Fees (dollars paid during the reporting period) | $3100268 |
| Portfolio Turnover Rate | 24% |
| Total Number of Portfolio Holdings | 1348 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.0% |
| Bank Loan Obligations | 1.5% |
| Preferred Securities | 1.0% |
| Common Stocks | 0.4% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Escrow Interests | 0.0% |
| Warrants | 0.0% |
| Short-Term Investments | 0.8% |
| Other Assets and Liabilities | 0.2% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J770

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ABHIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $37 | 0.72% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932808

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AHYHX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $32 | 0.62% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J507

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (AHYLX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $27 | 0.52% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J606

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AHYVX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $50 | 0.97% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932881

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AHDCX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $89 | 1.72% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932873

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AHYRX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $63 | 1.22% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932691

------

**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACYIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $27 | 0.52% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932782

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**SEMIANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AHYDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $24 | 0.47% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $87964640 |
| Management Fees (dollars paid during the reporting period) | $301868 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 309 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 96.9% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.5% |
| Other Assets and Liabilities | (7.8)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932394

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ASIEX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $29 | 0.56% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932329

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASIGX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $24 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J853

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ASYIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $18 | 0.36% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J846

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ASIQX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $41 | 0.81% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932360

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ASIHX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $80 | 1.56% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932352

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ASIWX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $54 | 1.06% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932345

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ASIJX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $18 | 0.36% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932311

------

**SEMIANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASIPX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $16 | 0.31% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $109455489 |
| Management Fees (dollars paid during the reporting period) | $255556 |
| Portfolio Turnover Rate | 78% |
| Total Number of Portfolio Holdings | 351 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.7% |
| Asset-Backed Securities | 11.1% |
| U.S. Treasury Securities | 8.9% |
| Convertible Preferred Securities | 8.2% |
| Collateralized Mortgage Obligations | 7.2% |
| Preferred Securities | 4.0% |
| Exchange-Traded Funds | 2.9% |
| U.S. Government Agency Mortgage-Backed Securities | 2.9% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Collateralized Loan Obligations | 1.7% |
| Sovereign Governments and Agencies | 0.9% |
| Bank Loan Obligations | 0.7% |
| Municipal Securities | 0.4% |
| Short-Term Investments | 5.6% |
| Other Assets and Liabilities | (4.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932337

------

**SEMIANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BPRXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $29 | 0.57% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2489280557 |
| Management Fees (dollars paid during the reporting period) | $6953373 |
| Total Number of Portfolio Holdings | 142 |
| 7-Day Current Yield - Investor Class | 3.77% |
| 7-Day Effective Yield - Investor Class | 3.84% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 45.3% |
| Corporate Bonds | 21.4% |
| Municipal Securities | 17.5% |
| U.S. Treasury Securities | 10.4% |
| Certificates of Deposit | 5.6% |
| Repurchase Agreements | 1.1% |
| Other Assets and Liabilities | (1.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932105

------

**SEMIANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACAXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $41 | 0.82% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2489280557 |
| Management Fees (dollars paid during the reporting period) | $6953373 |
| Total Number of Portfolio Holdings | 142 |
| 7-Day Current Yield - A Class | 3.52% |
| 7-Day Effective Yield - A Class | 3.59% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 45.3% |
| Corporate Bonds | 21.4% |
| Municipal Securities | 17.5% |
| U.S. Treasury Securities | 10.4% |
| Certificates of Deposit | 5.6% |
| Repurchase Agreements | 1.1% |
| Other Assets and Liabilities | (1.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932204

------

**SEMIANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARCXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $67 | 1.32% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2489280557 |
| Management Fees (dollars paid during the reporting period) | $6953373 |
| Total Number of Portfolio Holdings | 142 |
| 7-Day Current Yield - C Class | 3.03% |
| 7-Day Effective Yield - C Class | 3.07% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 45.3% |
| Corporate Bonds | 21.4% |
| Municipal Securities | 17.5% |
| U.S. Treasury Securities | 10.4% |
| Certificates of Deposit | 5.6% |
| Repurchase Agreements | 1.1% |
| Other Assets and Liabilities | (1.3)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932303

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ACSNX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $29 | 0.57% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932436

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASHHX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $24 | 0.47% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J705

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACSQX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $42 | 0.82% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932477

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ACSKX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $80 | 1.57% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932451

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ACSPX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $54 | 1.07% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932444

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACSUX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $19 | 0.37% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932428

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASDDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $16 | 0.32% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J820

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ASDOX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $1 | 0.01% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1104944605 |
| Management Fees (dollars paid during the reporting period) | $1335657 |
| Portfolio Turnover Rate | 91% |
| Total Number of Portfolio Holdings | 315 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 36.0% |
| U.S. Treasury Securities | 23.4% |
| Collateralized Mortgage Obligations | 16.2% |
| Convertible Preferred Securities | 6.2% |
| Commercial Mortgage-Backed Securities | 5.4% |
| Asset-Backed Securities | 5.3% |
| Preferred Securities | 3.2% |
| Collateralized Loan Obligations | 2.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 4.7% |
| Other Assets and Liabilities | (2.5)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J796

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (APOIX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $30 | 0.59% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932774

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (APOHX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $25 | 0.49% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J804

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (APOYX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $20 | 0.39% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J887

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (APOAX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $43 | 0.84% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932758

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (APOCX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $81 | 1.59% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932733

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (APORX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $55 | 1.09% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932725

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (APISX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $20 | 0.39% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932766

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (APODX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $17 | 0.34% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932378

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **G Class (APOGX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| G Class | $2 | 0.03% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1484624444 |
| Management Fees (dollars paid during the reporting period) | $2095912 |
| Portfolio Turnover Rate | 34% |
| Total Number of Portfolio Holdings | 91 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| U.S. Treasury Securities | 81.2% |
| Collateralized Mortgage Obligations | 3.3% |
| Exchange-Traded Funds | 3.1% |
| U.S. Government Agency Mortgage-Backed Securities | 3.1% |
| Corporate Bonds | 2.9% |
| Convertible Preferred Securities | 2.1% |
| Asset-Backed Securities | 2.0% |
| Sovereign Governments and Agencies | 1.7% |
| Commercial Mortgage-Backed Securities | 1.5% |
| Collateralized Loan Obligations | 0.3% |
| Preferred Securities | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 1.3% |
| Other Assets and Liabilities | (2.9)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J838

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ASDVX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $26 | 0.52% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932253

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASDHX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $21 | 0.42% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J879

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ASYDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Y Class | $16 | 0.32% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-2508J861

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ASADX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $39 | 0.77% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932295

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ASCDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $77 | 1.52% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932287

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ASDRX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $52 | 1.02% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932279

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ASDJX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R5 Class | $16 | 0.32% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932246

------

**SEMIANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASXDX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $14 | 0.27% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $765576467 |
| Management Fees (dollars paid during the reporting period) | $1619591 |
| Portfolio Turnover Rate | 94% |
| Total Number of Portfolio Holdings | 383 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 44.0% |
| Collateralized Mortgage Obligations | 19.8% |
| Asset-Backed Securities | 9.7% |
| U.S. Treasury Securities | 9.2% |
| Convertible Preferred Securities | 7.7% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 4.0% |
| Collateralized Loan Obligations | 1.1% |
| Bank Loan Obligations | 0.4% |
| Municipal Securities | 0.3% |
| Sovereign Governments and Agencies | 0.2% |
| Short-Term Investments | 1.1% |
| Other Assets and Liabilities | (1.7)% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932261

------

**SEMIANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (TCRXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $23 | 0.45% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $905865056 |
| Management Fees (dollars paid during the reporting period) | $1811424 |
| Total Number of Portfolio Holdings | 74 |
| 7-Day Current Yield - Investor Class | 3.77% |
| 7-Day Effective Yield - Investor Class | 3.84% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 43.0% |
| U.S. Government Agency Securities | 22.6% |
| U.S. Treasury Securities | 21.4% |
| Repurchase Agreements | 10.3% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | 0.3% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932709

------

**SEMIANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AGQXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $35 | 0.70% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $905865056 |
| Management Fees (dollars paid during the reporting period) | $1811424 |
| Total Number of Portfolio Holdings | 74 |
| 7-Day Current Yield - A Class | 3.52% |
| 7-Day Effective Yield - A Class | 3.58% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 43.0% |
| U.S. Government Agency Securities | 22.6% |
| U.S. Treasury Securities | 21.4% |
| Repurchase Agreements | 10.3% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | 0.3% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932238

------

**SEMIANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AGHXX)**  | **September 30, 2025** |

---

This semi-annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

---

| | | |
|:---|:---|:---|
| **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $61 | 1.20% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $905865056 |
| Management Fees (dollars paid during the reporting period) | $1811424 |
| Total Number of Portfolio Holdings | 74 |
| 7-Day Current Yield - C Class | 3.02% |
| 7-Day Effective Yield - C Class | 3.07% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 43.0% |
| U.S. Government Agency Securities | 22.6% |
| U.S. Treasury Securities | 21.4% |
| Repurchase Agreements | 10.3% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | 0.3% |

---

*For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.*

![QR ACI Docs.jpg](ck0000908406-20250930_g2.jpg)

 <br>©2025 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI logo.jpg](ck0000908406-20250930_g1.jpg)

S-24932220

------

(b) Not applicable.

**ITEM 2. CODE OF ETHICS.**

Not applicable for semiannual report filings.

**ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.**

Not applicable for semiannual report filings.

**ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**

Not applicable for semiannual report filings.

**ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.**

Not applicable for semiannual report filings.

**ITEM 6. INVESTMENTS.**

(a) The schedule of investments is included as part of the financial statements and other information filed under Item 7 of this Form.

(b) Not applicable.

**ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

(a) ------

&nbsp;&nbsp;&nbsp;&nbsp;

![acihorizblkd42.jpg](ck0000908406-20250930_g3.jpg)

---

| | |
|:---|:---|
| Semiannual Financial Statements and Other Information | Semiannual Financial Statements and Other Information |
| September 30, 2025 |  |
| Core Plus Fund | Prime Money Market Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ACCNX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (BPRXX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (ACCTX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (ACAXX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (ACCQX) | &nbsp;&nbsp;&nbsp;&nbsp;C Class (ARCXX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (ACCKX) | Short Duration Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (ACCPX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ACSNX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ACCUX) | &nbsp;&nbsp;&nbsp;&nbsp;I Class (ASHHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;G Class (ACCYX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (ACSQX) |
| Diversified Bond Fund | &nbsp;&nbsp;&nbsp;&nbsp;C Class (ACSKX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ADFIX) | &nbsp;&nbsp;&nbsp;&nbsp;R Class (ACSPX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (ACBPX) | &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ACSUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (ADVYX) | &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ASDDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (ADFAX) | &nbsp;&nbsp;&nbsp;&nbsp;G Class (ASDOX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (CDBCX) | Short Duration Inflation Protection Bond Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (ADVRX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (APOIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ADRVX) | &nbsp;&nbsp;&nbsp;&nbsp;I Class (APOHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ADDVX) | &nbsp;&nbsp;&nbsp;&nbsp;Y Class (APOYX) |
| &nbsp;&nbsp;&nbsp;&nbsp;G Class (ACDOX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (APOAX) |
| High Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;C Class (APOCX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AHIVX) | &nbsp;&nbsp;&nbsp;&nbsp;R Class (APORX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AHIIX) | &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (APISX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (NPHIX) | &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (APODX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (AHIAX) | &nbsp;&nbsp;&nbsp;&nbsp;G Class (APOGX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (AHIEX) | Short Duration Strategic Income Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AHIDX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ASDVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;G Class (ACHFX) | &nbsp;&nbsp;&nbsp;&nbsp;I Class (ASDHX) |
| High-Yield Fund | &nbsp;&nbsp;&nbsp;&nbsp;Y Class (ASYDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ABHIX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (ASADX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AHYHX) | &nbsp;&nbsp;&nbsp;&nbsp;C Class (ASCDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (AHYLX) | &nbsp;&nbsp;&nbsp;&nbsp;R Class (ASDRX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (AHYVX) | &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ASDJX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (AHDCX) | &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ASXDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AHYRX) | U.S. Government Money Market Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ACYIX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (TCRXX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AHYDX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (AGQXX) |
| Multisector Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;C Class (AGHXX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ASIEX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (ASIGX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (ASYIX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (ASIQX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (ASIHX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (ASIWX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ASIJX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ASIPX) |  |

---

***Investors should carefully consider a fund's investment objectives, risks, charges and expenses. For this and additional information about a fund, including the Annual Shareholder Report, Semiannual Shareholder Report, Prospectus and Statement of Additional Information, visit americancentury.com/docs.***

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedules of Investments | [2](#id477fb4faba64aa6af4a7a4196c6aeeb_31) |
| Statements of Assets and Liabilities | [126](#id477fb4faba64aa6af4a7a4196c6aeeb_34) |
| Statements of Operations | [135](#id477fb4faba64aa6af4a7a4196c6aeeb_37) |
| Statements of Changes in Net Assets | [140](#id477fb4faba64aa6af4a7a4196c6aeeb_40) |
| Notes to Financial Statements | [145](#id477fb4faba64aa6af4a7a4196c6aeeb_43) |
| Financial Highlights | [163](#id477fb4faba64aa6af4a7a4196c6aeeb_46) |
| Approval of Management and Subadvisory Agreements | [187](#id477fb4faba64aa6af4a7a4196c6aeeb_55) |

---

------

Schedule of Investments - Core Plus Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 31.7%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 0.2%** |  |  |
| Boeing Co., 5.71%, 5/1/40 | $355000 | $362449 |
| Northrop Grumman Corp., 5.15%, 5/1/40 | 233000 | 232301 |
| TransDigm, Inc., 4.625%, 1/15/29 | 215000 | 210879 |
| TransDigm, Inc., 4.875%, 5/1/29 | 215000 | 212009 |
|  |  | 1017638 |
| **Air Freight and Logistics — 0.3%** |  |  |
| GXO Logistics, Inc., 6.25%, 5/6/29 | 830000 | 872005 |
| GXO Logistics, Inc., 6.50%, 5/6/34 | 243000 | 261451 |
|  |  | 1133456 |
| **Automobiles — 0.6%** |  |  |
| American Honda Finance Corp., 4.95%, 1/9/26 | 545000 | 546086 |
| Ford Motor Credit Co. LLC, 5.85%, 5/17/27 | 440000 | 445600 |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 550000 | 588240 |
| Ford Motor Credit Co. LLC, 6.05%, 11/5/31 | 285000 | 291395 |
| General Motors Financial Co., Inc., 5.60%, 6/18/31 | 330000 | 341637 |
| General Motors Financial Co., Inc., 6.15%, 7/15/35 | 415000 | 434236 |
| Hyundai Capital America, 6.50%, 1/16/29<sup>(1)</sup> | 133000 | 141029 |
|  |  | 2788223 |
| **Banks — 3.4%** |  |  |
| Australia & New Zealand Banking Group Ltd., VRN, 2.57%, 11/25/35<sup>(1)</sup> | 721000 | 643388 |
| Bank of America Corp., VRN, 5.51%, 1/24/36 | 410000 | 428758 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 434000 | 461717 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 885000 | 941743 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 560000 | 601854 |
| Bank of Nova Scotia, VRN, 6.875%, (5-year H15T5Y plus 2.73%), 10/27/85<sup>(2)</sup> | 225000 | 224892 |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, VRN, 5.125%, 1/18/33<sup>(1)</sup> | 200000 | 196545 |
| BPCE SA, VRN, 3.65%, 1/14/37<sup>(1)</sup> | 720000 | 651911 |
| Canadian Imperial Bank of Commerce, VRN, 7.00%, 10/28/85 | 307000 | 315650 |
| Citibank NA, 4.91%, 5/29/30 | 319000 | 327829 |
| Citigroup, Inc., VRN, 4.41%, 3/31/31 | 500000 | 499278 |
| Citigroup, Inc., VRN, 5.17%, 9/11/36 | 320000 | 323372 |
| Citigroup, Inc., VRN, 5.61%, 3/4/56 | 220000 | 222307 |
| Comerica Bank, VRN, 5.33%, 8/25/33 | 250000 | 249933 |
| First Citizens BancShares, Inc., VRN, 5.60%, 9/5/35 | 520000 | 518805 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 400000 | 421174 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 1145000 | 1083045 |
| JPMorgan Chase & Co., VRN, 5.10%, 4/22/31 | 643000 | 664430 |
| JPMorgan Chase & Co., VRN, 5.77%, 4/22/35 | 771000 | 821772 |
| JPMorgan Chase & Co., VRN, 5.29%, 7/22/35 | 230000 | 237645 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 270000 | 274163 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 597000 | 546269 |
| Royal Bank of Canada, VRN, 5.15%, 2/4/31 | 703000 | 724569 |
| Royal Bank of Canada, VRN, 4.70%, 8/6/31 | 423000 | 428762 |
| Standard Chartered PLC, VRN, 5.40%, 8/12/36<sup>(1)</sup> | 269000 | 273055 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 1005000 | 1063592 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 358000 | 356519 |
| Wells Fargo & Co., VRN, 5.56%, 7/25/34 | 257000 | 270044 |
| Wells Fargo & Co., VRN, 5.61%, 4/23/36 | 430000 | 451431 |
| Wells Fargo & Co., VRN, 5.01%, 4/4/51 | 380000 | 355107 |
|  |  | 14579559 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Biotechnology — 0.3%** |  |  |
| Amgen, Inc., 5.65%, 3/2/53 | $520000 | $519029 |
| Biocon Biologics Global PLC, 6.67%, 10/9/29<sup>(1)</sup> | 620000 | 602554 |
|  |  | 1121583 |
| **Building Products — 0.5%** |  |  |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 1130000 | 1063637 |
| Carlisle Cos., Inc., 5.55%, 9/15/40 | 240000 | 243106 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 80000 | 82164 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 584000 | 560307 |
|  |  | 1949214 |
| **Capital Markets — 1.8%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 395000 | 400621 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 135000 | 138943 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 371000 | 378287 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 605000 | 650055 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 698000 | 707121 |
| Goldman Sachs Group, Inc., VRN, 6.48%, 10/24/29 | 430000 | 457666 |
| Goldman Sachs Group, Inc., VRN, 4.69%, 10/23/30 | 352000 | 356584 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 485000 | 512901 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 275000 | 276502 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 190000 | 191766 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 230000 | 228861 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 202000 | 208608 |
| LPL Holdings, Inc., 5.15%, 6/15/30 | 430000 | 437837 |
| Morgan Stanley, VRN, 6.63%, 11/1/34 | 975000 | 1091568 |
| Morgan Stanley, VRN, 5.83%, 4/19/35 | 170000 | 181289 |
| Morgan Stanley, VRN, 5.52%, 11/19/55 | 172000 | 173989 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 1256000 | 1231836 |
|  |  | 7624434 |
| **Chemicals — 0.4%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> | 200000 | 86500 |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> | 1400000 | 528654 |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | 242000 | 248409 |
| Orbia Advance Corp. SAB de CV, 2.875%, 5/11/31<sup>(1)</sup> | 710000 | 607478 |
| Solstice Advanced Materials, Inc., 5.625%, 9/30/33<sup>(1)</sup> | 365000 | 366434 |
|  |  | 1837475 |
| **Communications Equipment — 0.2%** |  |  |
| Cisco Systems, Inc., 5.50%, 2/24/55 | 378000 | 384950 |
| Motorola Solutions, Inc., 5.20%, 8/15/32 | 315000 | 324790 |
|  |  | 709740 |
| **Construction Materials — 0.1%** |  |  |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 255000 | 264339 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 368000 | 382885 |
|  |  | 647224 |
| **Consumer Finance — 0.6%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 752000 | 857620 |
| Capital One Financial Corp., VRN, 2.36%, 7/29/32 | 485000 | 418745 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 175000 | 177353 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 426000 | 427206 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 203000 | 212387 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 332000 | 343018 |
|  |  | 2436329 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Consumer Staples Distribution & Retail — 0.3%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 3.25%, 3/15/26<sup>(1)</sup> | $883000 | $877443 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 410000 | 408001 |
|  |  | 1285444 |
| **Diversified Consumer Services — 0.1%** |  |  |
| Leland Stanford Junior University, 4.68%, 3/1/35 | 100000 | 100562 |
| Massachusetts Institute of Technology, 5.62%, 6/1/55 | 120000 | 126356 |
| Novant Health, Inc., 3.17%, 11/1/51 | 330000 | 224243 |
|  |  | 451161 |
| **Diversified REITs — 1.2%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 795000 | 722450 |
| COPT Defense Properties LP, 4.50%, 10/15/30<sup>(2)</sup> | 370000 | 367740 |
| GLP Capital LP/GLP Financing II, Inc., 5.25%, 2/15/33 | 489000 | 490171 |
| Healthpeak OP LLC, 4.75%, 1/15/33 | 607000 | 603391 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 255000 | 235514 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 325000 | 270367 |
| Kilroy Realty LP, 2.65%, 11/15/33 | 320000 | 262099 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 | 543000 | 603094 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 101000 | 106915 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 414000 | 406168 |
| Trust Fibra Uno, 7.70%, 1/23/32<sup>(1)</sup> | 400000 | 432576 |
| Trust Fibra Uno, 8.25%, 1/23/37<sup>(1)</sup> | 585000 | 659644 |
|  |  | 5160129 |
| **Diversified Telecommunication Services — 0.4%** |  |  |
| AT&T, Inc., 6.375%, 3/1/41 | 70000 | 75736 |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> | 957000 | 1009722 |
| Sprint Capital Corp., 6.875%, 11/15/28 | 272000 | 292630 |
| Verizon Communications, Inc., 2.99%, 10/30/56 | 315000 | 194390 |
|  |  | 1572478 |
| **Electric Utilities — 2.9%** |  |  |
| AEP Transmission Co. LLC, 5.375%, 6/15/35 | 89000 | 92142 |
| Alliant Energy Corp., VRN, 5.75%, 4/1/56 | 228000 | 228517 |
| American Electric Power Co., Inc., VRN, 5.80%, 3/15/56 | 212000 | 211787 |
| American Electric Power Co., Inc., VRN, 6.05%, 3/15/56 | 212000 | 212828 |
| Arizona Public Service Co., 5.70%, 8/15/34 | 323000 | 338681 |
| Commonwealth Edison Co., 5.30%, 2/1/53 | 160000 | 155289 |
| Commonwealth Edison Co., 5.95%, 6/1/55 | 148000 | 157524 |
| Duke Energy Corp., 4.95%, 9/15/35 | 210000 | 208765 |
| Duke Energy Florida LLC, 5.95%, 11/15/52 | 265000 | 279707 |
| Duke Energy Progress LLC, 4.35%, 3/6/27 | 378000 | 381001 |
| Duke Energy Progress LLC, 4.15%, 12/1/44 | 616000 | 524341 |
| Duke Energy Progress LLC, 5.35%, 3/15/53 | 170000 | 166035 |
| Duke Energy Progress LLC, 5.55%, 3/15/55 | 240000 | 241624 |
| Electricite de France SA, 6.95%, 1/26/39<sup>(1)</sup> | 604000 | 677535 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 1049000 | 1055750 |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56<sup>(2)</sup> | 427000 | 425517 |
| Florida Power & Light Co., 4.125%, 2/1/42 | 720000 | 627185 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 421000 | 424923 |
| Jersey Central Power & Light Co., 5.15%, 1/15/36<sup>(1)</sup> | 318000 | 321736 |
| Kentucky Utilities Co., 5.85%, 8/15/55 | 86000 | 88464 |
| Louisville Gas & Electric Co., 5.85%, 8/15/55 | 86000 | 88509 |
| MidAmerican Energy Co., 5.85%, 9/15/54 | 1092000 | 1151278 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| MidAmerican Energy Co., 5.30%, 2/1/55 | $260000 | $253779 |
| Niagara Mohawk Power Corp., 4.65%, 10/3/30<sup>(1)</sup> | 160000 | 160830 |
| Northern States Power Co., 5.10%, 5/15/53 | 300000 | 285658 |
| Northern States Power Co., 5.65%, 5/15/55 | 186000 | 191158 |
| NRG Energy, Inc., 2.00%, 12/2/25<sup>(1)</sup> | 965000 | 959963 |
| Pacific Gas & Electric Co., 4.20%, 6/1/41 | 190000 | 156077 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> | 280000 | 297297 |
| PECO Energy Co., 5.65%, 9/15/55 | 272000 | 278277 |
| Public Service Electric & Gas Co., 5.50%, 3/1/55 | 445000 | 447697 |
| RWE Finance U.S. LLC, 5.125%, 9/18/35<sup>(1)</sup> | 151000 | 149038 |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 351000 | 350127 |
| Southern Co. Gas Capital Corp., 5.10%, 9/15/35 | 448000 | 449350 |
| Union Electric Co., 5.45%, 3/15/53 | 270000 | 264914 |
|  |  | 12303303 |
| **Electronic Equipment, Instruments and Components — 0.1%** |  |  |
| Keysight Technologies, Inc., 5.35%, 7/30/30 | 366000 | 380581 |
| **Energy Equipment and Services — 0.2%** |  |  |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> | 596000 | 608919 |
| Kodiak Gas Services LLC, 6.50%, 10/1/33<sup>(1)</sup> | 105000 | 106974 |
| Kodiak Gas Services LLC, 6.75%, 10/1/35<sup>(1)</sup> | 105000 | 107875 |
|  |  | 823768 |
| **Entertainment — 0.1%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 500000 | 488400 |
| **Financial Services — 1.5%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 815000 | 833760 |
| Atlas Warehouse Lending Co. LP, 6.25%, 1/15/30<sup>(1)</sup> | 751000 | 772518 |
| Corebridge Financial, Inc., VRN, 6.375%, 9/15/54 | 308000 | 316571 |
| Essent Group Ltd., 6.25%, 7/1/29 | 985000 | 1032439 |
| Fiserv, Inc., 5.25%, 8/11/35 | 205000 | 207259 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 250000 | 247003 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 990000 | 1024442 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 783000 | 816005 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 178000 | 184028 |
| PennyMac Financial Services, Inc., 6.75%, 2/15/34<sup>(1)</sup> | 105000 | 107195 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> | 335000 | 344063 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 350000 | 361677 |
|  |  | 6246960 |
| **Food Products — 0.3%** |  |  |
| Flowers Foods, Inc., 5.75%, 3/15/35 | 265000 | 270106 |
| Mars, Inc., 5.20%, 3/1/35<sup>(1)</sup> | 616000 | 629956 |
| Mars, Inc., 5.65%, 5/1/45<sup>(1)</sup> | 370000 | 375587 |
| Mars, Inc., 5.70%, 5/1/55<sup>(1)</sup> | 210000 | 212870 |
|  |  | 1488519 |
| **Gas Utilities — 0.2%** |  |  |
| Eastern Energy Gas Holdings LLC, 5.65%, 10/15/54 | 173000 | 170666 |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 142000 | 151265 |
| Snam SpA, 6.50%, 5/28/55<sup>(1)</sup> | 417000 | 448218 |
|  |  | 770149 |
| **Ground Transportation — 0.2%** |  |  |
| Ashtead Capital, Inc., 5.95%, 10/15/33<sup>(1)</sup> | 600000 | 634592 |
| United Rentals North America, Inc., 6.00%, 12/15/29<sup>(1)</sup> | 400000 | 412208 |
|  |  | 1046800 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Health Care Equipment and Supplies — 0.2%** |  |  |
| Hologic, Inc., 3.25%, 2/15/29<sup>(1)</sup> | $366000 | $353738 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 700000 | 718658 |
|  |  | 1072396 |
| **Health Care Providers and Services — 1.5%** |  |  |
| Centene Corp., 4.625%, 12/15/29 | 360000 | 349283 |
| CVS Health Corp., 5.45%, 9/15/35 | 209000 | 212775 |
| CVS Health Corp., 6.00%, 6/1/44 | 460000 | 466962 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 357000 | 375365 |
| Duke University Health System, Inc., 3.92%, 6/1/47 | 148000 | 119866 |
| Elevance Health, Inc., 5.00%, 1/15/36 | 196000 | 194651 |
| HCA, Inc., 6.20%, 3/1/55 | 152000 | 157014 |
| Icon Investments Six DAC, 6.00%, 5/8/34 | 258000 | 270956 |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(1)</sup> | 650000 | 648782 |
| IQVIA, Inc., 6.25%, 2/1/29 | 555000 | 584715 |
| Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 270000 | 179655 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> | 373000 | 383629 |
| Tenet Healthcare Corp., 5.125%, 11/1/27 | 609000 | 608400 |
| Tenet Healthcare Corp., 6.125%, 10/1/28 | 225000 | 225321 |
| UnitedHealth Group, Inc., 5.30%, 6/15/35 | 473000 | 489147 |
| UnitedHealth Group, Inc., 5.50%, 7/15/44 | 474000 | 475167 |
| UnitedHealth Group, Inc., 5.05%, 4/15/53 | 585000 | 536420 |
| Universal Health Services, Inc., 5.05%, 10/15/34 | 272000 | 265605 |
|  |  | 6543713 |
| **Hotels, Restaurants and Leisure — 0.9%** |  |  |
| Brightstar Lottery PLC, 5.25%, 1/15/29<sup>(1)</sup> | 875000 | 871695 |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 428000 | 409536 |
| Carnival Corp., 4.00%, 8/1/28<sup>(1)</sup> | 643000 | 634223 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)(2)</sup> | 284000 | 284000 |
| Hyatt Hotels Corp., 5.75%, 3/30/32 | 191000 | 199295 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 580000 | 595687 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 840000 | 861740 |
|  |  | 3856176 |
| **Household Durables — 0.3%** |  |  |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 203000 | 204925 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 60000 | 61553 |
| KB Home, 4.80%, 11/15/29 | 590000 | 584415 |
| Meritage Homes Corp., 5.65%, 3/15/35 | 293000 | 297743 |
|  |  | 1148636 |
| **Independent Power and Renewable Electricity Producers — 0.3%** |  |  |
| Colbun SA, 5.375%, 9/11/35<sup>(1)</sup> | 400000 | 400360 |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41<sup>(1)</sup> | 396203 | 423699 |
| Saavi Energia SARL, 8.875%, 2/10/35<sup>(1)</sup> | 570000 | 614147 |
|  |  | 1438206 |
| **Industrial Conglomerates — 0.1%** |  |  |
| Siemens Financieringsmaatschappij NV, 1.20%, 3/11/26<sup>(1)</sup> | 400000 | 395083 |
| **Insurance — 1.4%** |  |  |
| Athene Global Funding, 5.53%, 7/11/31<sup>(1)</sup> | 330000 | 340401 |
| Beacon Funding Trust, 6.27%, 8/15/54<sup>(1)</sup> | 365000 | 374244 |
| CNA Financial Corp., 5.20%, 8/15/35 | 594000 | 595580 |
| CNO Financial Group, Inc., 5.25%, 5/30/29 | 630000 | 641213 |
| CNO Financial Group, Inc., 6.45%, 6/15/34 | 251000 | 266559 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | $170000 | $177340 |
| Global Atlantic Fin Co., 7.95%, 6/15/33<sup>(1)</sup> | 940000 | 1090106 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 525000 | 515762 |
| Lincoln National Corp., 7.00%, 6/15/40 | 555000 | 631818 |
| MetLife Capital Trust IV, 7.875%, 12/15/67<sup>(1)</sup> | 416000 | 465975 |
| MetLife, Inc., 6.40%, 12/15/66 | 360000 | 379263 |
| Wynnton Funding Trust II, 5.99%, 8/15/55<sup>(1)</sup> | 417000 | 428329 |
|  |  | 5906590 |
| **IT Services — 0.3%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 660000 | 682443 |
| Kyndryl Holdings, Inc., 3.15%, 10/15/31 | 465000 | 422936 |
|  |  | 1105379 |
| **Machinery — 0.6%** |  |  |
| AGCO Corp., 5.80%, 3/21/34 | 329000 | 342173 |
| Caterpillar, Inc., 5.20%, 5/15/35 | 201000 | 208036 |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> | 850000 | 885687 |
| Nordson Corp., 4.50%, 12/15/29 | 540000 | 543284 |
| Weir Group, Inc., 5.35%, 5/6/30<sup>(1)</sup> | 428000 | 440426 |
|  |  | 2419606 |
| **Marine Transportation — 0.2%** |  |  |
| Yinson Bergenia Production BV, 8.50%, 1/31/45<sup>(1)</sup> | 832000 | 893981 |
| **Media — 1.2%** |  |  |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 335000 | 342454 |
| Lamar Media Corp., 3.75%, 2/15/28 | 575000 | 559527 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 1080000 | 1055022 |
| Paramount Global, VRN, 6.25%, 2/28/57 | 424000 | 418314 |
| Paramount Global, 4.375%, 3/15/43 | 561000 | 433265 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> | 630000 | 621921 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 435000 | 420688 |
| TEGNA, Inc., 4.625%, 3/15/28 | 850000 | 836741 |
| Time Warner Cable LLC, 6.55%, 5/1/37 | 519000 | 540115 |
|  |  | 5228047 |
| **Metals and Mining — 0.3%** |  |  |
| Glencore Funding LLC, 5.19%, 4/1/30<sup>(1)</sup> | 450000 | 463877 |
| Glencore Funding LLC, 5.89%, 4/4/54<sup>(1)</sup> | 130000 | 131486 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 5.35%, 3/15/34 | 462000 | 482124 |
| Rio Tinto Finance USA PLC, 5.75%, 3/14/55 | 296000 | 304847 |
|  |  | 1382334 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 6/15/29<sup>(1)</sup> | 545000 | 535251 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 1465000 | 1537026 |
|  |  | 2072277 |
| **Multi-Utilities — 0.8%** |  |  |
| CenterPoint Energy, Inc., VRN, 5.95%, (5-year H15T5Y plus 2.22%), 4/1/56<sup>(2)</sup> | 428000 | 429070 |
| Dominion Energy, Inc., VRN, 6.00%, 2/15/56 | 427000 | 430527 |
| Dominion Energy, Inc., VRN, 6.20%, 2/15/56 | 425000 | 428174 |
| NiSource, Inc., 5.35%, 7/15/35 | 410000 | 418926 |
| Sempra, 3.25%, 6/15/27 | 357000 | 350886 |
| Sempra, VRN, 4.125%, 4/1/52 | 1082000 | 1055461 |
| WEC Energy Group, Inc., 5.60%, 9/12/26 | 163000 | 165201 |
|  |  | 3278245 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 2.9%** |  |  |
| 3R Lux SARL, 9.75%, 2/5/31<sup>(1)</sup> | $69000 | $72912 |
| Antero Resources Corp., 7.625%, 2/1/29<sup>(1)</sup> | 338000 | 345397 |
| Cheniere Energy, Inc., 4.625%, 10/15/28 | 470000 | 468661 |
| Columbia Pipelines Operating Co. LLC, 6.04%, 11/15/33<sup>(1)</sup> | 395000 | 421626 |
| Diamondback Energy, Inc., 6.25%, 3/15/33 | 370000 | 398776 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 1045000 | 1049752 |
| Energy Transfer LP, 6.55%, 12/1/33 | 658000 | 720011 |
| Energy Transfer LP, 6.125%, 12/15/45 | 390000 | 392907 |
| Energy Transfer LP, VRN, 6.50%, 2/15/56 | 280000 | 278962 |
| Eni SpA, 5.95%, 5/15/54<sup>(1)</sup> | 339000 | 339120 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 134000 | 135410 |
| Expand Energy Corp., 5.375%, 3/15/30 | 867000 | 881697 |
| HF Sinclair Corp., 5.50%, 9/1/32 | 194000 | 197343 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 300000 | 303081 |
| Northern Natural Gas Co., 5.625%, 2/1/54<sup>(1)</sup> | 175000 | 172379 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 1666000 | 1660083 |
| Petroleos Mexicanos, 6.84%, 1/23/30 | 124000 | 126206 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 2200000 | 2132316 |
| Repsol E&P Capital Markets U.S. LLC, 5.20%, 9/16/30<sup>(1)</sup> | 435000 | 438345 |
| Repsol E&P Capital Markets U.S. LLC, 5.98%, 9/16/35<sup>(1)</sup> | 206000 | 209972 |
| Shell Finance U.S., Inc., 4.375%, 5/11/45 | 235000 | 205520 |
| SM Energy Co., 6.75%, 9/15/26 | 488000 | 488192 |
| Southern Natural Gas Co. LLC, 5.45%, 8/1/35<sup>(1)</sup> | 149000 | 152088 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 304000 | 314985 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 435000 | 431506 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 296000 | 314589 |
|  |  | 12651836 |
| **Paper and Forest Products — 0.1%** |  |  |
| Louisiana-Pacific Corp., 3.625%, 3/15/29<sup>(1)</sup> | 311000 | 297865 |
| **Passenger Airlines — 0.8%** |  |  |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 415000 | 425495 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 840323 | 841408 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 600000 | 600690 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 327000 | 340636 |
| United Airlines, Inc., 4.375%, 4/15/26<sup>(1)</sup> | 1061000 | 1060283 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 370000 | 364614 |
|  |  | 3633126 |
| **Pharmaceuticals — 0.2%** |  |  |
| Bristol-Myers Squibb Co., 5.55%, 2/22/54 | 435000 | 433855 |
| Merck & Co., Inc., 5.70%, 9/15/55 | 297000 | 306713 |
|  |  | 740568 |
| **Real Estate Management and Development — 0.1%** |  |  |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 9.75%, 4/15/30<sup>(1)</sup> | 298000 | 325474 |
| **Retail REITs — 0.0%** |  |  |
| Realty Income Corp., 4.50%, 2/1/33<sup>(2)</sup> | 65000 | 64309 |
| **Semiconductors and Semiconductor Equipment — 1.1%** |  |  |
| Applied Materials, Inc., 4.60%, 1/15/36 | 211000 | 208900 |
| Broadcom, Inc., 4.80%, 2/15/36 | 309000 | 308182 |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(1)</sup> | 700000 | 726863 |
| Foundry JV Holdco LLC, 6.25%, 1/25/35<sup>(1)</sup> | 475000 | 508978 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 300000 | 319082 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Foundry JV Holdco LLC, 6.30%, 1/25/39<sup>(1)</sup> | $597000 | $642870 |
| Intel Corp., 3.90%, 3/25/30 | 630000 | 618165 |
| Intel Corp., 5.15%, 2/21/34 | 320000 | 324552 |
| Intel Corp., 5.60%, 2/21/54 | 252000 | 242133 |
| Micron Technology, Inc., 5.30%, 1/15/31 | 720000 | 745291 |
|  |  | 4645016 |
| **Software — 0.7%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 129000 | 132000 |
| AppLovin Corp., 5.375%, 12/1/31 | 232000 | 240085 |
| AppLovin Corp., 5.50%, 12/1/34 | 410000 | 423427 |
| Oracle Corp., 4.80%, 9/26/32 | 643000 | 643991 |
| Oracle Corp., 5.20%, 9/26/35 | 640000 | 643768 |
| Oracle Corp., 5.50%, 9/27/64 | 235000 | 215384 |
| Synopsys, Inc., 5.00%, 4/1/32 | 780000 | 797340 |
|  |  | 3095995 |
| **Specialized REITs — 0.3%** |  |  |
| EPR Properties, 4.95%, 4/15/28 | 590000 | 594696 |
| EPR Properties, 3.75%, 8/15/29 | 125000 | 120376 |
| VICI Properties LP/VICI Note Co., Inc., 4.125%, 8/15/30<sup>(1)</sup> | 482000 | 465996 |
|  |  | 1181068 |
| **Specialty Retail — 0.3%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 203000 | 209010 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> | 255000 | 263161 |
| Home Depot, Inc., 4.65%, 9/15/35 | 180000 | 178289 |
| Lowe's Cos., Inc., 4.50%, 10/15/32 | 475000 | 471298 |
| Lowe's Cos., Inc., 4.85%, 10/15/35 | 315000 | 312517 |
|  |  | 1434275 |
| **Technology Hardware, Storage and Peripherals — 0.4%**  |  |  |
| Apple, Inc., 4.50%, 5/12/32 | 500000 | 510644 |
| Dell International LLC/EMC Corp., 4.50%, 2/15/31<sup>(2)</sup> | 540000 | 538892 |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 | 201000 | 207578 |
| Hewlett Packard Enterprise Co., 4.85%, 10/15/31 | 324000 | 327497 |
|  |  | 1584611 |
| **Textiles, Apparel and Luxury Goods — 0.1%** |  |  |
| Gildan Activewear, Inc., 4.70%, 10/7/30<sup>(1)(2)</sup> | 185000 | 184797 |
| Gildan Activewear, Inc., 5.40%, 10/7/35<sup>(1)(2)</sup> | 155000 | 155098 |
|  |  | 339895 |
| **Trading Companies and Distributors — 0.1%** |  |  |
| Herc Holdings, Inc., 5.50%, 7/15/27<sup>(1)</sup> | 168000 | 167705 |
| Herc Holdings, Inc., 7.25%, 6/15/33<sup>(1)</sup> | 373000 | 389672 |
|  |  | 557377 |
| **Wireless Telecommunication Services — 0.1%** |  |  |
| T-Mobile USA, Inc., 6.70%, 12/15/33 | 542000 | 606344 |
| **TOTAL CORPORATE BONDS**<br>(Cost $134,242,255) |  | **135760995** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 27.4%** |  |  |
| **Adjustable-Rate U.S. Government Agency Mortgage-Backed Security — 0.0%** |  |  |
| FNMA, VRN, 3.18%, (1-year RFUCC plus 1.61%), 3/1/47 | 12242 | 12223 |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 27.4%** |  |  |
| FHLMC, 6.00%, 9/1/35 | 111906 | 117674 |
| FHLMC, 6.00%, 2/1/38 | 57398 | 60575 |
| FHLMC, 3.50%, 2/1/49 | 1861880 | 1738483 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| FHLMC, 3.50%, 5/1/50 | $313061 | $288907 |
| FHLMC, 2.50%, 10/1/50 | 1487280 | 1256173 |
| FHLMC, 2.50%, 5/1/51 | 2056443 | 1751277 |
| FHLMC, 3.50%, 5/1/51 | 555593 | 512956 |
| FHLMC, 3.00%, 7/1/51 | 1344691 | 1189618 |
| FHLMC, 2.00%, 8/1/51 | 1742686 | 1418261 |
| FHLMC, 3.00%, 12/1/51 | 427286 | 377078 |
| FHLMC, 2.50%, 2/1/52 | 2010392 | 1710409 |
| FHLMC, 3.00%, 2/1/52 | 1919780 | 1710325 |
| FHLMC, 3.50%, 5/1/52 | 1006981 | 930168 |
| FHLMC, 4.00%, 5/1/52 | 933669 | 889618 |
| FHLMC, 4.00%, 5/1/52 | 544123 | 514728 |
| FHLMC, 4.00%, 6/1/52 | 2387873 | 2275210 |
| FHLMC, 5.00%, 6/1/52 | 1038132 | 1037111 |
| FHLMC, 5.00%, 7/1/52 | 631728 | 634645 |
| FHLMC, 5.00%, 8/1/52 | 1339796 | 1343595 |
| FHLMC, 4.50%, 10/1/52 | 2511307 | 2450352 |
| FHLMC, 4.50%, 10/1/52 | 776256 | 756853 |
| FHLMC, 6.00%, 11/1/52 | 2524481 | 2601542 |
| FHLMC, 5.50%, 12/1/52 | 570262 | 579673 |
| FHLMC, 6.00%, 1/1/53 | 2537966 | 2611925 |
| FHLMC, 6.50%, 11/1/53 | 1458462 | 1513292 |
| FHLMC, 5.50%, 4/1/54 | 822293 | 835861 |
| FNMA, 6.00%, 12/1/33 | 88026 | 91068 |
| FNMA, 6.00%, 9/1/37 | 88251 | 93049 |
| FNMA, 6.00%, 11/1/37 | 79967 | 84315 |
| FNMA, 4.50%, 4/1/39 | 95011 | 95731 |
| FNMA, 4.50%, 5/1/39 | 268263 | 270462 |
| FNMA, 6.50%, 5/1/39 | 38230 | 40510 |
| FNMA, 4.50%, 10/1/39 | 456471 | 459229 |
| FNMA, 4.00%, 8/1/41 | 403344 | 393341 |
| FNMA, 3.50%, 5/1/42 | 137454 | 130666 |
| FNMA, 3.50%, 5/1/45 | 204189 | 192073 |
| FNMA, 4.00%, 11/1/45 | 224326 | 215959 |
| FNMA, 4.00%, 11/1/45 | 95923 | 92295 |
| FNMA, 4.00%, 2/1/46 | 393012 | 378109 |
| FNMA, 4.00%, 4/1/46 | 300875 | 289528 |
| FNMA, 3.50%, 2/1/47 | 555863 | 515307 |
| FNMA, 2.50%, 6/1/50 | 564406 | 481385 |
| FNMA, 2.50%, 12/1/51 | 1440123 | 1230216 |
| FNMA, 2.50%, 2/1/52 | 750174 | 639015 |
| FNMA, 3.00%, 2/1/52 | 2057430 | 1829710 |
| FNMA, 3.00%, 2/1/52 | 1348298 | 1199058 |
| FNMA, 2.00%, 3/1/52 | 3027873 | 2474629 |
| FNMA, 3.00%, 3/1/52 | 1163899 | 1037390 |
| FNMA, 3.00%, 4/1/52 | 1727971 | 1536186 |
| FNMA, 3.50%, 4/1/52 | 1578255 | 1445376 |
| FNMA, 3.50%, 4/1/52 | 623511 | 570614 |
| FNMA, 4.00%, 4/1/52 | 1584238 | 1501574 |
| FNMA, 4.00%, 4/1/52 | 542028 | 516455 |
| FNMA, 4.00%, 4/1/52 | 495291 | 469532 |
| FNMA, 3.00%, 5/1/52 | 1221533 | 1093299 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| FNMA, 3.50%, 5/1/52 | $2202021 | $2020929 |
| FNMA, 3.50%, 5/1/52 | 1242436 | 1139762 |
| FNMA, 4.00%, 5/1/52 | 1518302 | 1433250 |
| FNMA, 3.00%, 6/1/52 | 1206878 | 1072920 |
| FNMA, 3.50%, 6/1/52 | 1415756 | 1315934 |
| FNMA, 2.50%, 7/1/52 | 894699 | 757802 |
| FNMA, 4.50%, 7/1/52 | 448759 | 437542 |
| FNMA, 5.00%, 8/1/52 | 1539804 | 1539797 |
| FNMA, 4.50%, 9/1/52 | 772368 | 762231 |
| FNMA, 5.00%, 9/1/52 | 965327 | 968302 |
| FNMA, 5.50%, 10/1/52 | 1429129 | 1447487 |
| FNMA, 5.50%, 1/1/53 | 2885183 | 2923499 |
| FNMA, 5.50%, 1/1/53 | 2850207 | 2894435 |
| FNMA, 6.50%, 1/1/53 | 2188228 | 2272836 |
| FNMA, 5.50%, 3/1/53 | 645915 | 657978 |
| FNMA, 4.50%, 8/1/53 | 545708 | 535673 |
| FNMA, 6.00%, 9/1/53 | 1525547 | 1563546 |
| FNMA, 6.00%, 9/1/53 | 1453350 | 1498379 |
| FNMA, 5.50%, 3/1/54 | 3450956 | 3490019 |
| FNMA, 6.00%, 5/1/54 | 1737128 | 1778659 |
| GNMA, 5.50%, TBA | 1938000 | 1952726 |
| GNMA, 7.00%, 4/20/26 | 4 | 4 |
| GNMA, 7.50%, 8/15/26 | 19 | 19 |
| GNMA, 8.00%, 8/15/26 | 2 | 2 |
| GNMA, 6.50%, 3/15/28 | 147 | 149 |
| GNMA, 6.50%, 5/15/28 | 323 | 328 |
| GNMA, 7.00%, 5/15/31 | 521 | 545 |
| GNMA, 5.50%, 12/15/32 | 21499 | 22036 |
| GNMA, 4.50%, 8/15/33 | 31255 | 31168 |
| GNMA, 6.00%, 9/20/38 | 31394 | 33555 |
| GNMA, 6.00%, 1/20/39 | 7138 | 7505 |
| GNMA, 4.50%, 4/15/39 | 43817 | 43400 |
| GNMA, 4.50%, 6/15/39 | 108172 | 108139 |
| GNMA, 4.50%, 1/15/40 | 81870 | 81769 |
| GNMA, 4.50%, 4/15/40 | 70344 | 70192 |
| GNMA, 4.50%, 12/15/40 | 128685 | 128064 |
| GNMA, 3.50%, 6/20/42 | 364543 | 345976 |
| GNMA, 3.00%, 5/20/50 | 484824 | 433738 |
| GNMA, 3.00%, 7/20/50 | 926405 | 830549 |
| GNMA, 2.00%, 10/20/50 | 4731509 | 3916569 |
| GNMA, 2.50%, 11/20/50 | 1914688 | 1636208 |
| GNMA, 2.50%, 2/20/51 | 1966890 | 1699335 |
| GNMA, 3.50%, 6/20/51 | 951235 | 874176 |
| GNMA, 3.00%, 7/20/51 | 2033866 | 1818670 |
| GNMA, 4.00%, 9/20/52 | 3423801 | 3245629 |
| GNMA, 4.50%, 9/20/52 | 3261482 | 3188374 |
| GNMA, 4.50%, 10/20/52 | 3213605 | 3141075 |
| GNMA, 4.00%, 4/20/54 | 4476780 | 4213259 |
| GNMA, 5.00%, 12/20/54 | 1814878 | 1809365 |
| UMBS, 5.00%, TBA | 6732000 | 6677414 |
|  |  | 117293308 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $118,401,928) |  | **117305531** |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
|<br>**U.S. TREASURY SECURITIES — 14.1%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| U.S. Treasury Notes, 3.875%, 6/15/28 | $4700000 | $4731395 |
| U.S. Treasury Notes, 4.125%, 3/31/29 | 3800000 | 3858559 |
| U.S. Treasury Notes, 4.25%, 6/30/29 | 1200000 | 1224070 |
| U.S. Treasury Notes, 4.00%, 5/31/30 | 14700000 | 14874562 |
| U.S. Treasury Notes, 3.875%, 7/31/30 | 2900000 | 2917898 |
| U.S. Treasury Notes, 3.625%, 8/31/30 | 8900000 | 8855500 |
| U.S. Treasury Notes, 4.125%, 8/31/30<sup>(3)</sup> | 4800000 | 4881281 |
| U.S. Treasury Notes, 4.375%, 11/30/30 | 13800000 | 14191898 |
| U.S. Treasury Notes, 4.00%, 6/30/32 | 1500000 | 1507998 |
| U.S. Treasury Notes, 3.875%, 8/31/32 | 1400000 | 1396063 |
| U.S. Treasury Notes, 4.125%, 11/15/32 | 2000000 | 2023516 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $60,041,140) |  | **60462740** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 8.2%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 7.9%** |  |  |
| Angel Oak Mortgage Trust, Series 2024-3, Class A1, 4.80%, 11/26/68<sup>(1)</sup> | 402577 | 400722 |
| BRAVO Residential Funding Trust, Series 2024-NQM1, Class A2, 6.10%, 12/1/63<sup>(1)</sup> | 282370 | 284624 |
| BRAVO Residential Funding Trust, Series 2024-NQM2, Class A1, 6.29%, 2/25/64<sup>(1)</sup> | 856203 | 867411 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A4, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 528604 | 535178 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 976301 | 981623 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 388275 | 389355 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 1605 | 1610 |
| CHNGE Mortgage Trust, Series 2022-NQM1, Class A2, 5.82%, 6/25/67<sup>(1)</sup> | 639541 | 637753 |
| Citigroup Mortgage Loan Trust, Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 862665 | 874024 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 1458028 | 1464164 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A5, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 650888 | 651908 |
| COLT Mortgage Loan Trust, Series 2024-4, Class A2, 6.20%, 7/25/69<sup>(1)</sup> | 1047192 | 1059557 |
| Eagle RE Ltd., Series 2023-1, Class M1A, VRN, 6.36%, (30-day average SOFR plus 2.00%), 9/26/33<sup>(1)</sup> | 217013 | 217444 |
| EFMT, Series 2024-CES1, Class A2, 5.80%, 1/26/60<sup>(1)</sup> | 906000 | 919197 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ3, Class A4, VRN, 6.00%, 7/25/55<sup>(1)</sup> | 671812 | 682266 |
| JP Morgan Mortgage Trust, Series 2005-S2, Class 3A1, VRN, 7.17%, 2/25/32 | 7990 | 7862 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 916274 | 920413 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 645131 | 646879 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A3, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 1143737 | 1151431 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 1881181 | 1905802 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 722748 | 728091 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 399817 | 402239 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 828120 | 840520 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A1D, 5.50%, 11/25/55<sup>(1)</sup> | 1057599 | 1062693 |
| JP Morgan Mortgage Trust, Series 2025-7MPR, Class A3, 5.85%, 2/25/56<sup>(1)</sup> | 708538 | 710779 |
| MFA Trust, Series 2023-NQM3, Class A1, SEQ, 6.62%, 7/25/68<sup>(1)</sup> | 1120955 | 1132446 |
| MFA Trust, Series 2024-NQM1, Class A1, SEQ, 6.58%, 3/25/69<sup>(1)</sup> | 183438 | 186195 |
| MFA Trust, Series 2024-NQM1, Class A2, SEQ, 6.83%, 3/25/69<sup>(1)</sup> | 594339 | 603500 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2023-2, Class A4, VRN, 6.00%, 6/25/53<sup>(1)</sup> | 1817351 | 1827446 |
| OBX Trust, Series 2024-NQM8, Class A1, 6.23%, 5/25/64<sup>(1)</sup> | 582072 | 590659 |
| OBX Trust, Series 2025-J3, Class A5, SEQ, VRN, 5.00%, 10/25/55<sup>(1)</sup> | 1200000 | 1195794 |
| PRKCM Trust, Series 2024-HOME1, Class A1, 6.43%, 5/25/59<sup>(1)</sup> | 685538 | 696499 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 1416604 | 1424887 |
| Provident Funding Mortgage Trust, Series 2025-2, Class A4, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 1373784 | 1382566 |
| Rate Mortgage Trust, Series 2025-J1, Class A4, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 841929 | 855010 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 367477 | 368217 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | $519537 | $521980 |
| Sequoia Mortgage Trust, Series 2024-2, Class A4, VRN, 6.00%, 3/25/54<sup>(1)</sup> | 1146475 | 1158822 |
| Sequoia Mortgage Trust, Series 2024-6, Class A11, SEQ, VRN, 6.00%, 7/27/54<sup>(1)</sup> | 1357716 | 1368332 |
| SoFi Mortgage Trust, Series 2016-1A, Class 1A4, SEQ, VRN, 3.00%, 11/25/46<sup>(1)</sup> | 69073 | 62152 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.22%, 6/25/69<sup>(1)</sup> | 540759 | 548488 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.19%, 6/25/69<sup>(1)</sup> | 1499435 | 1521342 |
|  |  | 33787880 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.3%** |  |  |
| FHLMC, Series 3397, Class GF, VRN, 4.99%, (30-day average SOFR plus 0.61%), 12/15/37 | 50401 | 50213 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 8423762 | 1085121 |
| FNMA, Series 2023-R05, Class 1M1, VRN, 6.26%, (30-day average SOFR plus 1.90%), 6/25/43<sup>(1)</sup> | 247332 | 249248 |
| GNMA, Series 2007-5, Class FA, VRN, 4.39%, (1-month SOFR plus 0.25%), 2/20/37 | 76191 | 76175 |
|  |  | 1460757 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $34,773,395) |  | **35248637** |
| **CONVERTIBLE PREFERRED SECURITIES — 5.9%** |  |  |
| **Banks — 5.6%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 1461000 | 1481152 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 600000 | 600523 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> | 431000 | 428391 |
| Banco Mercantil del Norte SA, 7.50%<sup>(1)</sup> | 400000 | 409192 |
| Banco Santander SA, 4.75% | 2200000 | 2164329 |
| Barclays PLC, 6.125% | 663000 | 663845 |
| Barclays PLC, 8.00% | 713000 | 755696 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 780000 | 768600 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 1237000 | 1323221 |
| Danske Bank AS, 4.375% | 1895000 | 1884323 |
| HSBC Holdings PLC, 6.00% | 1526000 | 1533770 |
| HSBC Holdings PLC, 6.875% | 349000 | 363128 |
| ING Groep NV, 5.75% | 1045000 | 1049394 |
| ING Groep NV, 7.50% | 1050000 | 1092501 |
| Lloyds Banking Group PLC, 6.75% | 619000 | 628969 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 651000 | 661962 |
| NatWest Group PLC, 6.00% | 2115000 | 2125687 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 2145000 | 2158535 |
| Skandinaviska Enskilda Banken AB, 6.875% | 1000000 | 1027084 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 209000 | 207312 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 1560000 | 1674807 |
| Standard Chartered PLC, VRN, 7.75%<sup>(1)</sup> | 280000 | 290779 |
| Svenska Handelsbanken AB, 4.375% | 600000 | 591125 |
|  |  | 23884325 |
| **Capital Markets — 0.3%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 1350000 | 1492687 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $24,975,732) |  | **25377012** |
| **ASSET-BACKED SECURITIES — 3.8%** |  |  |
| Aligned Data Centers Issuer LLC, Series 2021-1A, Class B, 2.48%, 8/15/46<sup>(1)</sup> | $975000 | 950523 |
| BRAVO Residential Funding Trust, Series 2024-CES1, Class A1A, 6.38%, 4/25/54<sup>(1)</sup> | 259238 | 263218 |
| Capital Automotive REIT, Series 2024-2A, Class A2, SEQ, 5.25%, 5/15/54<sup>(1)</sup> | 811250 | 808287 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> | 149609 | 147676 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-1A, Class A2, SEQ, 4.76%, 3/22/49<sup>(1)</sup> | 1500000 | 1485889 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> | 750000 | 738284 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| DI Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.72%, 9/15/51<sup>(1)</sup> | $2462092 | $2355593 |
| Goodgreen Trust, Series 2018-1A, Class A, VRN, 3.93%, 10/15/53<sup>(1)</sup> | 639756 | 592279 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class A, 2.31%, 10/20/48<sup>(1)</sup> | 577421 | 491052 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> | 1505839 | 1529102 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> | 797000 | 806925 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 1700000 | 1154549 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A1A, 6.15%, 6/25/44<sup>(1)</sup> | 827435 | 839118 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 700000 | 716742 |
| Stonepeak ABS, Series 2021-1A, Class AA, 2.30%, 2/28/33<sup>(1)</sup> | 231770 | 224080 |
| Switch ABS Issuer LLC, Series 2024-2A, Class A2, SEQ, 5.44%, 6/25/54<sup>(1)</sup> | 575000 | 578271 |
| Towd Point Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 5.85%, 1/25/64<sup>(1)</sup> | 750827 | 756669 |
| VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.87%, 5/15/54<sup>(1)</sup> | 1000000 | 1037880 |
| Vertical Bridge CC LLC, Series 2025-1A, Class A, SEQ, 5.16%, 8/16/55<sup>(1)</sup> | 845125 | 839803 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $16,530,702) |  | **16315940** |
| **PREFERRED SECURITIES — 2.5%** |  |  |
| **Banks — 0.9%** |  |  |
| Bank of America Corp., 6.25% | 965000 | 978198 |
| Citigroup, Inc., 3.875% | 1116000 | 1106924 |
| Citigroup, Inc., 4.00% | 1300000 | 1296525 |
| Citigroup, Inc., 6.25% | 670000 | 675037 |
| M&T Bank Corp., 5.125% | 46000 | 46068 |
|  |  | 4102752 |
| **Capital Markets — 0.3%** |  |  |
| Charles Schwab Corp., 4.00% | 1303000 | 1289782 |
| **Multi-Utilities — 0.2%** |  |  |
| Sempra, 4.875% | 905000 | 905978 |
| **Oil, Gas and Consumable Fuels — 0.5%** |  |  |
| Energy Transfer LP, 6.625% | 615000 | 614670 |
| Energy Transfer LP, 6.50% | 1035000 | 1042566 |
| Sunoco LP, 7.875%<sup>(1)</sup> | 444000 | 451262 |
|  |  | 2108498 |
| **Trading Companies and Distributors — 0.6%** |  |  |
| Air Lease Corp., 4.65% | 810000 | 800662 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 1673000 | 1665872 |
|  |  | 2466534 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $10,762,183) |  | **10873544** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.3%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | $304000 | 246939 |
| Bank, Series 2019-BN17, Class D, 3.00%, 4/15/52<sup>(1)</sup> | 388000 | 329687 |
| Bank, Series 2021-BN36, Class D, VRN, 2.50%, 9/15/64<sup>(1)</sup> | 387896 | 289358 |
| BBCMS Mortgage Trust, Series 2019-C5, Class D, 2.50%, 11/15/52<sup>(1)</sup> | 415246 | 341501 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class AS, SEQ, VRN, 6.41%, 7/15/57 | 1337000 | 1405661 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.25%, 7/15/51<sup>(1)</sup> | 529000 | 413154 |
| Benchmark Mortgage Trust, Series 2020-B16, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 752000 | 563680 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 318000 | 209717 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.77%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 469000 | 464908 |
| CSAIL Commercial Mortgage Trust, Series 2019-C15, Class D, 3.00%, 3/15/52<sup>(1)</sup> | 625000 | 505862 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class A, SEQ, 7.07%, 11/10/39<sup>(1)</sup> | 860000 | 880005 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 289000 | 241474 |
| Morgan Stanley Capital I Trust, Series 2020-L4, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 628000 | 471239 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| One Market Plaza Trust, Series 2017-1MKT, Class B, 3.85%, 2/10/32<sup>(1)</sup> |  | $1097000 | $1057959 |
| ONNI Commerical Mortgage Trust, Series 2024-APT, Class A, SEQ, VRN, 5.75%, 7/15/39<sup>(1)</sup> |  | 1355000 | 1387715 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.92%, 12/10/34<sup>(1)</sup> |  | 970000 | 982187 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.31%, 12/15/51<sup>(1)</sup> |  | 240000 | 218585 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $9,495,476) |  |  | **10009631** |
| **COLLATERALIZED LOAN OBLIGATIONS — 2.0%** |  |  |  |
| Apidos CLO XIIX Ltd., Series 2024-49A, Class B, VRN, 5.92%, (3-month SOFR plus 1.60%), 10/24/37<sup>(1)</sup> |  | 1500000 | 1506555 |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.61%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> |  | 753606 | 753994 |
| AREII CLO Ltd., Series 2019-52A, Class CRR, VRN, 5.88%, (3-month SOFR plus 1.55%), 4/22/31<sup>(1)</sup> |  | 2200000 | 2202055 |
| Birch Grove CLO 4 Ltd., Series 2022-4A, Class BR, VRN, 6.12%, (3-month SOFR plus 1.80%), 7/15/37<sup>(1)</sup> |  | 1760000 | 1766670 |
| Jamestown CLO XIV Ltd., Series 2019-14A, Class BRR, VRN, 6.08%, (3-month SOFR plus 1.75%), 10/20/34<sup>(1)</sup> |  | 1820000 | 1820958 |
| Mountain View CLO LLC, Series 2017-2A, Class B, VRN, 6.28%, (3-month SOFR plus 1.96%), 1/16/31<sup>(1)</sup> |  | 315162 | 315209 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $8,356,694) |  |  | **8365441** |
| **MUNICIPAL SECURITIES — 1.2%** |  |  |  |
| California State University Rev., 2.98%, 11/1/51  |  | 400000 | 278333 |
| Escambia County Health Facilities Authority Rev., (Baptist Hospital, Inc. Obligated Group), 3.61%, 8/15/40 (AG) |  | 105000 | 86176 |
| Foothill-Eastern Transportation Corridor Agency Rev., 4.09%, 1/15/49  |  | 387000 | 311734 |
| Golden State Tobacco Securitization Corp. Rev., 2.75%, 6/1/34  |  | 910000 | 808011 |
| Houston GO, 3.96%, 3/1/47  |  | 255000 | 219234 |
| Los Angeles Community College District GO, 6.75%, 8/1/49  |  | 130000 | 146356 |
| Metropolitan St. Louis Sewer District Rev., Series C, 3.26%, 5/1/45  |  | 250000 | 199051 |
| Michigan Strategic Fund Rev., (Flint Water Advocacy Fund), 3.23%, 9/1/47  |  | 580000 | 442301 |
| Missouri Highway & Transportation Commission Rev., 5.45%, 5/1/33  |  | 50000 | 51684 |
| New Jersey Turnpike Authority Rev., 7.10%, 1/1/41  |  | 40000 | 46384 |
| New York GO, Series B-1, 5.83%, 10/1/53  |  | 750000 | 786176 |
| Ohio Turnpike & Infrastructure Commission Rev., 3.22%, 2/15/48  |  | 455000 | 338722 |
| Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51  |  | 150000 | 141059 |
| Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60  |  | 225000 | 144680 |
| State of California GO, 4.60%, 4/1/28, Prerefunded at 100% of Par<sup>(4)</sup> |  | 140000 | 142855 |
| State of California GO, 7.60%, 11/1/40  |  | 25000 | 30778 |
| Sumter Landing Community Development District Rev., 5.57%, 10/1/40 (AG) |  | 65000 | 67580 |
| Sumter Landing Community Development District Rev., 5.74%, 10/1/45 (AG) |  | 100000 | 102729 |
| Sumter Landing Community Development District Rev., 5.82%, 10/1/54 (AG) |  | 185000 | 189281 |
| Texas Natural Gas Securitization Finance Corp. Rev., SEQ, 5.17%, 4/1/41  |  | 460000 | 469179 |
| United Nations Development Corp. Rev., (City of New York), Series A, 6.54%, 8/1/55  |  | 70000 | 74834 |
| University of California Rev., 3.07%, 5/15/51  |  | 220000 | 147300 |
| **TOTAL MUNICIPAL SECURITIES**<br>(Cost $6,091,508) |  |  | **5224437** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 1.1%** |  |  |  |
| **Chile — 0.0%** |  |  |  |
| Chile Government International Bonds, 5.33%, 1/5/54 |  | 300000 | 291532 |
| **Colombia — 0.1%** |  |  |  |
| Colombia Government International Bonds, 8.00%, 11/14/35 |  | 200000 | 215100 |
| Colombia Government International Bonds, 7.75%, 11/7/36 |  | 200000 | 209900 |
|  |  |  | 425000 |
| **Luxembourg — 0.4%** |  |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> |  | 1558000 | 1582632 |
| **New Zealand — 0.6%** |  |  |  |
| New Zealand Government Bonds, 4.50%, 5/15/35 | NZD | 4200000 | 2494999 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $4,751,193) |  |  | **4794163** |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
|<br>**SHORT-TERM INVESTMENTS — 2.0%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Commercial Paper**<sup>(5)</sup> **— 2.0%** |  |  |
| HQLA Funding LLC, Series CHAM, 4.22%, 10/1/25 (LOC: Credit Agricole Corporate and <br>Investment Bank)<sup>(1)</sup><br>(Cost $8,500,000) | $8500000 | $**8499017** |
| **TOTAL INVESTMENT SECURITIES — 102.2%**<br>(Cost $436,922,206) |  | **438237088** |
| **OTHER ASSETS AND LIABILITIES — (2.2)%** |  | **(9452671)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**428784417** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | **Counterparty** | **Settlement Date** | **Unrealized Appreciation<br>(Depreciation)** |
| USD | 2588679 | NZD | 4335179 | UBS AG | 12/17/25 | $68024 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| Canadian 10-Year Government Bonds | 67 | December 2025 | $5895538 | $130298 |
| U.K. Gilt 10-Year Bonds | 36 | December 2025 | 4398144 | (21843) |
| U.S. Treasury 10-Year Notes | 6 | December 2025 | 675000 | (1043) |
| U.S. Treasury Long Bonds | 140 | December 2025 | 16323125 | 362054 |
| U.S. Treasury Ultra Bonds | 151 | December 2025 | 18129437 | 453432 |
|  |  |  | $45421244 | $922898 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 10-Year Ultra Notes | 23 | December 2025 | $2646797 | $737 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type** | **Fixed**<br>**Rate**<br>**Received**<br>**(Paid)**<br>**Quarterly** | **Termination**<br>**Date** | **Notional**<br>**Amount** | **Premiums**<br>**Paid**<br>**(Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 44 | Buy | (5.00)% | 6/20/30 | $17850000 | $(1243835) | $(204157) | $(1447992) |

---

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

------

Schedule of Investments - Core Plus Fund

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AG | Assured Guaranty, Inc. |
| CDX | Credit Derivatives Indexes |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation |
| H15T5Y | Constant Maturity U.S. Treasury Note Yield Curve Rate Index 5 Year |
| IO | Interest Only |
| LOC | Letter of Credit |
| NZD | New Zealand Dollar |
| RFUCC | FTSE USD IBOR Consumer Cash Fallbacks |
| SEQ | Sequential Payer |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| UMBS | Uniform Mortgage-Backed Securities |
| USD | United States Dollar |
| VRN | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $145,442,778, which represented 33.9% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments, forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $2,581,995.

(4)Escrowed to maturity in U.S. government securities or state and local government securities.

(5)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

------

Schedule of Investments - Core Plus Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $135760995 |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 117305531 |  |
| U.S. Treasury Securities |  | 60462740 |  |
| Collateralized Mortgage Obligations |  | 35248637 |  |
| Convertible Preferred Securities |  | 25377012 |  |
| Asset-Backed Securities |  | 16315940 |  |
| Preferred Securities |  | 10873544 |  |
| Commercial Mortgage-Backed Securities |  | 10009631 |  |
| Collateralized Loan Obligations |  | 8365441 |  |
| Municipal Securities |  | 5224437 |  |
| Sovereign Governments and Agencies |  | 4794163 |  |
| Short-Term Investments |  | 8499017 |  |
|  |  | $438237088 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $816223 | $130298 |  |
| Forward Foreign Currency Exchange Contracts |  | 68024 |  |
|  | $816223 | $198322 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $1043 | $21843 |  |
| Swap Agreements |  | 1447992 |  |
|  | $1043 | $1469835 |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Asset Derivatives:** | | | | |
| Unrealized appreciation on forward foreign currency exchange contracts |  | $68024 |  | $68024 |
| **Liability Derivatives:** |  |  |  |  |
| Payable for variation margin on futures contracts\* |  |  | $123662 | $123662 |
| Payable for variation margin on swap agreements\* | $3135 |  |  | 3135 |
|  |  |  |  | $126797 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

------

Schedule of Investments - Core Plus Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Net realized gain (loss) on:** | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions |  | $49 |  | $49 |
| &nbsp;&nbsp;Futures contract transactions |  |  | $(1316013) | (1316013) |
| &nbsp;&nbsp;Swap agreement transactions | $(93319) |  |  | (93319) |
|  |  |  |  | $(1409283) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $74321 |  | $74321 |
| &nbsp;&nbsp;Futures contracts |  |  | $984798 | 984798 |
| &nbsp;&nbsp;Swap agreements | $(204157) |  |  | (204157) |
|  |  |  |  | $854962 |

---

See Notes to Financial Statements.

------

Schedule of Investments - Diversified Bond Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 31.6%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities — 0.0%** |  |  |
| FNMA, VRN, 3.18%, (1-year RFUCC plus 1.61%), 3/1/47 | $746772 | $745605 |
| FNMA, VRN, 3.10%, (1-year RFUCC plus 1.61%), 4/1/47 | 515025 | 513731 |
|  |  | 1259336 |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 31.6%** |  |  |
| FHLMC, 6.00%, 9/1/35 | 765100 | 804535 |
| FHLMC, 6.00%, 2/1/38 | 444428 | 469028 |
| FHLMC, 3.50%, 2/1/49 | 28434906 | 26550369 |
| FHLMC, 3.00%, 1/1/50 | 19510371 | 17160526 |
| FHLMC, 3.50%, 5/1/50 | 4430255 | 4088450 |
| FHLMC, 2.50%, 5/1/51 | 7501344 | 6388181 |
| FHLMC, 3.00%, 7/1/51 | 10757524 | 9516942 |
| FHLMC, 2.00%, 8/1/51 | 23582767 | 19192516 |
| FHLMC, 2.50%, 8/1/51 | 22185128 | 18822765 |
| FHLMC, 3.00%, 12/1/51 | 16815231 | 14839393 |
| FHLMC, 3.00%, 2/1/52 | 15408935 | 13727766 |
| FHLMC, 3.50%, 5/1/52 | 10551065 | 9746220 |
| FHLMC, 4.00%, 5/1/52 | 16709417 | 15806725 |
| FHLMC, 4.00%, 5/1/52 | 14442300 | 13760906 |
| FHLMC, 3.00%, 6/1/52 | 7647983 | 6800924 |
| FHLMC, 4.00%, 6/1/52 | 29130990 | 27756561 |
| FHLMC, 5.00%, 7/1/52 | 7859686 | 7895971 |
| FHLMC, 4.50%, 8/1/52 | 5970454 | 5872246 |
| FHLMC, 4.50%, 10/1/52 | 29098448 | 28392162 |
| FHLMC, 4.50%, 10/1/52 | 11767555 | 11473421 |
| FHLMC, 5.50%, 11/1/52 | 7741082 | 7861452 |
| FHLMC, 6.00%, 11/1/52 | 37804828 | 38958841 |
| FHLMC, 5.50%, 12/1/52 | 6098724 | 6199367 |
| FHLMC, 6.00%, 1/1/53 | 24338446 | 25047693 |
| FHLMC, 6.50%, 11/1/53 | 22590930 | 23440217 |
| FHLMC, 5.50%, 4/1/54 | 21672917 | 22030531 |
| FNMA, 6.00%, 12/1/33 | 341433 | 353232 |
| FNMA, 6.00%, 9/1/37 | 560916 | 591412 |
| FNMA, 6.00%, 11/1/37 | 470347 | 495920 |
| FNMA, 4.50%, 4/1/39 | 594248 | 598754 |
| FNMA, 4.50%, 5/1/39 | 1684382 | 1698191 |
| FNMA, 6.50%, 5/1/39 | 284353 | 301308 |
| FNMA, 4.50%, 9/1/39 | 525661 | 528675 |
| FNMA, 4.50%, 10/1/39 | 2865205 | 2882516 |
| FNMA, 4.50%, 11/1/40 | 371380 | 373510 |
| FNMA, 3.50%, 12/1/40 | 62139 | 59378 |
| FNMA, 4.00%, 8/1/41 | 2583450 | 2519380 |
| FNMA, 4.50%, 9/1/41 | 366498 | 366453 |
| FNMA, 4.00%, 12/1/41 | 1236623 | 1203401 |
| FNMA, 3.50%, 5/1/42 | 549817 | 522663 |
| FNMA, 4.00%, 11/1/45 | 966924 | 930856 |
| FNMA, 4.00%, 11/1/45 | 881344 | 848014 |
| FNMA, 4.00%, 2/1/46 | 1601616 | 1540884 |
| FNMA, 4.00%, 4/1/46 | 2517947 | 2422988 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| FNMA, 3.00%, 5/1/50 | $2578897 | $2321372 |
| FNMA, 2.50%, 6/1/50 | 22015030 | 18776736 |
| FNMA, 2.50%, 2/1/51 | 21600277 | 18460258 |
| FNMA, 3.00%, 6/1/51 | 1306274 | 1170854 |
| FNMA, 2.50%, 12/1/51 | 20422423 | 17445725 |
| FNMA, 2.00%, 2/1/52 | 6294958 | 5164663 |
| FNMA, 2.50%, 2/1/52 | 8936273 | 7612120 |
| FNMA, 3.00%, 2/1/52 | 31419347 | 27941791 |
| FNMA, 3.00%, 2/1/52 | 15505431 | 13789168 |
| FNMA, 2.00%, 3/1/52 | 40985635 | 33496861 |
| FNMA, 3.00%, 4/1/52 | 9702029 | 8625212 |
| FNMA, 3.50%, 4/1/52 | 5825679 | 5331443 |
| FNMA, 4.00%, 4/1/52 | 19357518 | 18347456 |
| FNMA, 4.00%, 4/1/52 | 8404444 | 8007921 |
| FNMA, 4.00%, 4/1/52 | 6052562 | 5737781 |
| FNMA, 3.00%, 5/1/52 | 13061800 | 11690598 |
| FNMA, 3.50%, 5/1/52 | 30547272 | 28035097 |
| FNMA, 3.50%, 5/1/52 | 23592316 | 21642669 |
| FNMA, 3.50%, 5/1/52 | 20605052 | 19155356 |
| FNMA, 4.00%, 5/1/52 | 14222494 | 13425781 |
| FNMA, 3.50%, 6/1/52 | 23376842 | 21728595 |
| FNMA, 2.50%, 7/1/52 | 12328236 | 10441899 |
| FNMA, 4.50%, 7/1/52 | 14468457 | 14106814 |
| FNMA, 5.00%, 8/1/52 | 46239243 | 46239021 |
| FNMA, 4.50%, 9/1/52 | 9488154 | 9363629 |
| FNMA, 5.00%, 9/1/52 | 12404102 | 12442330 |
| FNMA, 5.00%, 10/1/52 | 42720199 | 42671554 |
| FNMA, 5.50%, 10/1/52 | 18357994 | 18593815 |
| FNMA, 5.00%, 1/1/53 | 19334546 | 19311533 |
| FNMA, 5.50%, 1/1/53 | 43713003 | 44293523 |
| FNMA, 5.50%, 1/1/53 | 37670566 | 38255119 |
| FNMA, 6.50%, 1/1/53 | 24390613 | 25333678 |
| FNMA, 5.00%, 2/1/53 | 9596265 | 9623477 |
| FNMA, 6.00%, 9/1/53 | 18838656 | 19422336 |
| FNMA, 6.00%, 9/1/53 | 12335834 | 12643100 |
| FNMA, 5.50%, 3/1/54 | 45874401 | 46393664 |
| FNMA, 6.00%, 5/1/54 | 21112851 | 21617615 |
| GNMA, 5.50%, TBA | 24880000 | 25069051 |
| GNMA, 7.00%, 4/20/26 | 30 | 31 |
| GNMA, 7.50%, 8/15/26 | 146 | 147 |
| GNMA, 8.00%, 8/15/26 | 17 | 17 |
| GNMA, 6.50%, 3/15/28 | 1137 | 1149 |
| GNMA, 6.50%, 5/15/28 | 2504 | 2540 |
| GNMA, 7.00%, 5/15/31 | 4045 | 4225 |
| GNMA, 6.00%, 7/15/33 | 196031 | 201421 |
| GNMA, 4.50%, 8/15/33 | 359396 | 358392 |
| GNMA, 6.00%, 9/20/38 | 158272 | 169166 |
| GNMA, 6.00%, 1/20/39 | 57646 | 60613 |
| GNMA, 6.00%, 2/20/39 | 59919 | 63003 |
| GNMA, 4.50%, 4/15/39 | 299576 | 296723 |
| GNMA, 4.50%, 6/15/39 | 448092 | 447954 |
| GNMA, 5.00%, 9/15/39 | 14926 | 15316 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| GNMA, 5.00%, 10/15/39 | $226402 | $232319 |
| GNMA, 4.50%, 1/15/40 | 430443 | 429913 |
| GNMA, 4.00%, 11/20/40 | 581952 | 572204 |
| GNMA, 4.00%, 12/15/40 | 223976 | 214966 |
| GNMA, 4.50%, 12/15/40 | 879722 | 875474 |
| GNMA, 4.50%, 6/15/41 | 172243 | 170703 |
| GNMA, 3.50%, 6/20/42 | 4365926 | 4143562 |
| GNMA, 3.00%, 5/20/50 | 7503294 | 6712678 |
| GNMA, 3.00%, 7/20/50 | 19812768 | 17762736 |
| GNMA, 2.00%, 10/20/50 | 40463376 | 33494094 |
| GNMA, 2.50%, 11/20/50 | 27181534 | 23228145 |
| GNMA, 2.50%, 2/20/51 | 19146362 | 16541891 |
| GNMA, 3.50%, 2/20/51 | 1828813 | 1684355 |
| GNMA, 3.50%, 6/20/51 | 13255876 | 12182032 |
| GNMA, 3.00%, 7/20/51 | 11817452 | 10567093 |
| GNMA, 4.00%, 9/20/52 | 35651057 | 33795809 |
| GNMA, 4.50%, 9/20/52 | 32107527 | 31387827 |
| GNMA, 4.50%, 10/20/52 | 33555924 | 32798579 |
| GNMA, 4.00%, 4/20/54 | 52280218 | 49202801 |
| GNMA, 5.00%, 12/20/54 | 27553151 | 27469446 |
| UMBS, 5.00%, TBA | 113900000 | 112976445 |
|  |  | 1542634627 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $1,559,013,290) |  | **1543893963** |
| **CORPORATE BONDS — 20.8%** |  |  |
| **Aerospace and Defense — 0.1%** |  |  |
| Boeing Co., 5.71%, 5/1/40 | 4285000 | 4374912 |
| Northrop Grumman Corp., 5.15%, 5/1/40 | 2263000 | 2256207 |
|  |  | 6631119 |
| **Air Freight and Logistics — 0.3%** |  |  |
| GXO Logistics, Inc., 6.25%, 5/6/29 | 10358000 | 10882195 |
| GXO Logistics, Inc., 6.50%, 5/6/34 | 2413000 | 2596222 |
|  |  | 13478417 |
| **Automobiles — 0.6%** |  |  |
| American Honda Finance Corp., 4.95%, 1/9/26 | 7385000 | 7399714 |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 5540000 | 5925180 |
| Ford Motor Credit Co. LLC, 6.05%, 11/5/31 | 3991000 | 4080552 |
| General Motors Financial Co., Inc., 5.60%, 6/18/31 | 4150000 | 4296348 |
| General Motors Financial Co., Inc., 6.15%, 7/15/35 | 4435000 | 4640573 |
| Hyundai Capital America, 6.50%, 1/16/29<sup>(1)</sup> | 1261000 | 1337124 |
|  |  | 27679491 |
| **Banks — 3.3%** |  |  |
| Australia & New Zealand Banking Group Ltd., VRN, 2.57%, 11/25/35<sup>(1)</sup> | 8285000 | 7393164 |
| Bank of America Corp., VRN, 5.51%, 1/24/36 | 4975000 | 5202609 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 5254000 | 5589541 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 7237000 | 7701015 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 6685000 | 7184630 |
| Bank of Nova Scotia, VRN, 6.875%, (5-year H15T5Y plus 2.73%), 10/27/85<sup>(2)</sup> | 3325000 | 3323401 |
| BPCE SA, VRN, 3.65%, 1/14/37<sup>(1)</sup> | 6375000 | 5772133 |
| Canadian Imperial Bank of Commerce, VRN, 7.00%, 10/28/85 | 4869000 | 5006184 |
| Citibank NA, 4.91%, 5/29/30 | 3232000 | 3321452 |
| Citigroup, Inc., VRN, 5.17%, 9/11/36 | 3675000 | 3713726 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Citigroup, Inc., VRN, 5.61%, 3/4/56 | $2460000 | $2485797 |
| First Citizens BancShares, Inc., VRN, 5.60%, 9/5/35 | 6310000 | 6295496 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 7851000 | 7426188 |
| JPMorgan Chase & Co., VRN, 6.09%, 10/23/29 | 11745000 | 12396813 |
| JPMorgan Chase & Co., VRN, 5.10%, 4/22/31 | 8115000 | 8385465 |
| JPMorgan Chase & Co., VRN, 5.77%, 4/22/35 | 9638000 | 10272687 |
| JPMorgan Chase & Co., VRN, 5.29%, 7/22/35 | 3139000 | 3243332 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 2620000 | 2660394 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 6606000 | 6044649 |
| Royal Bank of Canada, VRN, 5.15%, 2/4/31 | 8905000 | 9178215 |
| Royal Bank of Canada, VRN, 4.70%, 8/6/31 | 5489000 | 5563765 |
| Standard Chartered PLC, VRN, 5.40%, 8/12/36<sup>(1)</sup> | 2860000 | 2903113 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 15917000 | 16844973 |
| Wells Fargo & Co., VRN, 5.56%, 7/25/34 | 3422000 | 3595680 |
| Wells Fargo & Co., VRN, 5.61%, 4/23/36 | 6210000 | 6519505 |
| Wells Fargo & Co., VRN, 5.01%, 4/4/51 | 4585000 | 4284644 |
|  |  | 162308571 |
| **Biotechnology — 0.1%** |  |  |
| Amgen, Inc., 5.65%, 3/2/53 | 5665000 | 5654423 |
| **Building Products — 0.0%** |  |  |
| Carlisle Cos., Inc., 5.55%, 9/15/40 | 2220000 | 2248730 |
| **Capital Markets — 1.7%** |  |  |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 770000 | 792491 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 4086000 | 4166257 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 8245000 | 8352741 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 2546000 | 2584021 |
| Goldman Sachs Group, Inc., VRN, 6.48%, 10/24/29 | 7265000 | 7732423 |
| Goldman Sachs Group, Inc., VRN, 4.69%, 10/23/30 | 3222000 | 3263961 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 4168000 | 4407779 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 2320000 | 2341568 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 2580000 | 2567225 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 2402000 | 2480575 |
| LPL Holdings, Inc., 5.15%, 6/15/30 | 4795000 | 4882393 |
| Morgan Stanley, VRN, 5.16%, 4/20/29 | 3816000 | 3906642 |
| Morgan Stanley, VRN, 6.41%, 11/1/29 | 3165000 | 3364465 |
| Morgan Stanley, VRN, 6.63%, 11/1/34 | 9535000 | 10674976 |
| Morgan Stanley, VRN, 5.83%, 4/19/35 | 2030000 | 2164798 |
| Morgan Stanley, VRN, 5.52%, 11/19/55 | 1780000 | 1800581 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 15636000 | 15335173 |
|  |  | 80818069 |
| **Chemicals — 0.0%** |  |  |
| Solstice Advanced Materials, Inc., 5.625%, 9/30/33<sup>(1)</sup> | 2470000 | 2479704 |
| **Communications Equipment — 0.1%** |  |  |
| Cisco Systems, Inc., 5.50%, 2/24/55 | 3018000 | 3073489 |
| Motorola Solutions, Inc., 5.20%, 8/15/32 | 3860000 | 3979970 |
|  |  | 7053459 |
| **Consumer Finance — 0.4%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 9398000 | 10717968 |
| Capital One Financial Corp., VRN, 2.36%, 7/29/32 | 5255000 | 4537126 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 1824000 | 1908345 |
|  |  | 17163439 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Diversified Consumer Services — 0.2%** |  |  |
| Duke University, 3.30%, 10/1/46 | $3000000 | $2195321 |
| Leland Stanford Junior University, 4.68%, 3/1/35 | 895000 | 900035 |
| Massachusetts Institute of Technology, 5.62%, 6/1/55 | 1470000 | 1547864 |
| Novant Health, Inc., 3.17%, 11/1/51 | 2485000 | 1688615 |
| Pepperdine University, 3.30%, 12/1/59 | 5873000 | 3687076 |
|  |  | 10018911 |
| **Diversified REITs — 0.5%** |  |  |
| Kilroy Realty LP, 3.05%, 2/15/30 | 2620000 | 2419792 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 3215000 | 2674548 |
| Kilroy Realty LP, 2.65%, 11/15/33 | 3311000 | 2711909 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 | 5770000 | 6408569 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 893000 | 945300 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 3632000 | 3563294 |
| Trust Fibra Uno, 7.70%, 1/23/32<sup>(1)</sup> | 4118000 | 4453366 |
|  |  | 23176778 |
| **Diversified Telecommunication Services — 0.1%** |  |  |
| AT&T, Inc., 6.375%, 3/1/41 | 260000 | 281306 |
| Sprint Capital Corp., 6.875%, 11/15/28 | 2869000 | 3086596 |
| Verizon Communications, Inc., 2.99%, 10/30/56 | 2615000 | 1613749 |
|  |  | 4981651 |
| **Electric Utilities — 2.1%** |  |  |
| AEP Transmission Co. LLC, 5.375%, 6/15/35 | 839000 | 868617 |
| Arizona Public Service Co., 5.70%, 8/15/34 | 3662000 | 3839785 |
| Commonwealth Edison Co., 5.30%, 2/1/53 | 2516000 | 2441918 |
| Commonwealth Edison Co., 5.95%, 6/1/55 | 1552000 | 1651875 |
| Duke Energy Corp., 4.95%, 9/15/35 | 1757000 | 1746664 |
| Duke Energy Florida LLC, 5.95%, 11/15/52 | 3375000 | 3562302 |
| Duke Energy Progress LLC, 4.35%, 3/6/27 | 4036000 | 4068048 |
| Duke Energy Progress LLC, 4.15%, 12/1/44 | 6588000 | 5607720 |
| Duke Energy Progress LLC, 5.35%, 3/15/53 | 2320000 | 2265887 |
| Duke Energy Progress LLC, 5.55%, 3/15/55 | 3030000 | 3050503 |
| Electricite de France SA, 6.95%, 1/26/39<sup>(1)</sup> | 7703000 | 8640813 |
| Florida Power & Light Co., 4.125%, 2/1/42 | 8281000 | 7213504 |
| Jersey Central Power & Light Co., 5.15%, 1/15/36<sup>(1)</sup> | 3455000 | 3495589 |
| Kentucky Utilities Co., 5.85%, 8/15/55 | 1131000 | 1163404 |
| Louisville Gas & Electric Co., 5.85%, 8/15/55 | 1131000 | 1163990 |
| MidAmerican Energy Co., 5.85%, 9/15/54 | 15842000 | 16701970 |
| MidAmerican Energy Co., 5.30%, 2/1/55 | 3375000 | 3294247 |
| Niagara Mohawk Power Corp., 4.65%, 10/3/30<sup>(1)</sup> | 1130000 | 1135865 |
| Northern States Power Co., 5.10%, 5/15/53 | 4035000 | 3842105 |
| Northern States Power Co., 5.65%, 5/15/55 | 2356000 | 2421340 |
| Pacific Gas & Electric Co., 4.20%, 6/1/41 | 2045000 | 1679885 |
| PECO Energy Co., 5.65%, 9/15/55 | 3369000 | 3446742 |
| Public Service Electric & Gas Co., 5.50%, 3/1/55 | 5387000 | 5419654 |
| RWE Finance U.S. LLC, 5.125%, 9/18/35<sup>(1)</sup> | 1807000 | 1783518 |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 3638000 | 3628955 |
| Southern Co. Gas Capital Corp., 5.10%, 9/15/35 | 4830000 | 4844553 |
| Union Electric Co., 5.45%, 3/15/53 | 3490000 | 3424260 |
|  |  | 102403713 |
| **Electronic Equipment, Instruments and Components — 0.1%** |  |  |
| Keysight Technologies, Inc., 5.35%, 7/30/30 | 3913000 | 4068890 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Entertainment — 0.1%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | $5959000 | $5820751 |
| **Financial Services — 0.8%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 11010000 | 11263429 |
| Atlas Warehouse Lending Co. LP, 6.25%, 1/15/30<sup>(1)</sup> | 14383000 | 14795109 |
| Corebridge Financial, Inc., VRN, 6.375%, 9/15/54 | 3787000 | 3892388 |
| Fiserv, Inc., 5.25%, 8/11/35 | 2305000 | 2330397 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 5326000 | 5262161 |
|  |  | 37543484 |
| **Food Products — 0.3%** |  |  |
| Flowers Foods, Inc., 5.75%, 3/15/35 | 2495000 | 2543077 |
| Mars, Inc., 5.20%, 3/1/35<sup>(1)</sup> | 7135000 | 7296647 |
| Mars, Inc., 5.65%, 5/1/45<sup>(1)</sup> | 4220000 | 4283722 |
| Mars, Inc., 5.70%, 5/1/55<sup>(1)</sup> | 2392000 | 2424691 |
|  |  | 16548137 |
| **Gas Utilities — 0.1%** |  |  |
| Eastern Energy Gas Holdings LLC, 5.65%, 10/15/54 | 2039000 | 2011492 |
| Snam SpA, 6.50%, 5/28/55<sup>(1)</sup> | 3155000 | 3391192 |
|  |  | 5402684 |
| **Ground Transportation — 0.1%** |  |  |
| Ashtead Capital, Inc., 5.95%, 10/15/33<sup>(1)</sup> | 5366000 | 5675367 |
| United Rentals North America, Inc., 6.00%, 12/15/29<sup>(1)</sup> | 1500000 | 1545778 |
|  |  | 7221145 |
| **Health Care Equipment and Supplies — 0.2%** |  |  |
| Hologic, Inc., 3.25%, 2/15/29<sup>(1)</sup> | 1960000 | 1894333 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 5775000 | 5928931 |
|  |  | 7823264 |
| **Health Care Providers and Services — 1.2%** |  |  |
| Centene Corp., 4.625%, 12/15/29 | 1710000 | 1659096 |
| CVS Health Corp., 5.45%, 9/15/35 | 1799000 | 1831497 |
| CVS Health Corp., 6.00%, 6/1/44 | 5500000 | 5583239 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 3160000 | 3322560 |
| Duke University Health System, Inc., 3.92%, 6/1/47 | 2697000 | 2184311 |
| Elevance Health, Inc., 5.00%, 1/15/36 | 1584000 | 1573101 |
| HCA, Inc., 5.25%, 3/1/30 | 3342000 | 3451377 |
| HCA, Inc., 6.20%, 3/1/55 | 1703000 | 1759173 |
| Icon Investments Six DAC, 6.00%, 5/8/34 | 2101000 | 2206503 |
| IQVIA, Inc., 6.25%, 2/1/29 | 5995000 | 6315972 |
| Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 3415000 | 2272305 |
| Tenet Healthcare Corp., 6.25%, 2/1/27 | 5410000 | 5412758 |
| Tenet Healthcare Corp., 5.125%, 11/1/27 | 1931000 | 1929098 |
| UnitedHealth Group, Inc., 5.30%, 6/15/35 | 5217000 | 5395091 |
| UnitedHealth Group, Inc., 5.50%, 7/15/44 | 5514000 | 5527576 |
| UnitedHealth Group, Inc., 5.05%, 4/15/53 | 7170000 | 6574584 |
| Universal Health Services, Inc., 5.05%, 10/15/34 | 3751000 | 3662812 |
|  |  | 60661053 |
| **Hotels, Restaurants and Leisure — 0.4%** |  |  |
| Carnival Corp., 4.00%, 8/1/28<sup>(1)</sup> | 8146000 | 8034812 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)(2)</sup> | 1836000 | 1836000 |
| Hyatt Hotels Corp., 5.75%, 3/30/32 | 1585000 | 1653832 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 6776000 | 6951369 |
|  |  | 18476013 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Household Durables — 0.1%** |  |  |
| Meritage Homes Corp., 5.65%, 3/15/35 | $2984000 | $3032303 |
| **Independent Power and Renewable Electricity Producers — 0.1%** |  |  |
| Colbun SA, 5.375%, 9/11/35<sup>(1)</sup> | 2492000 | 2494243 |
| **Industrial Conglomerates — 0.1%** |  |  |
| Siemens Financieringsmaatschappij NV, 1.20%, 3/11/26<sup>(1)</sup> | 4500000 | 4444680 |
| **Insurance — 0.8%** |  |  |
| Athene Global Funding, 5.53%, 7/11/31<sup>(1)</sup> | 3527000 | 3638159 |
| Beacon Funding Trust, 6.27%, 8/15/54<sup>(1)</sup> | 3885000 | 3983394 |
| CNA Financial Corp., 5.20%, 8/15/35 | 6801000 | 6819091 |
| CNO Financial Group, Inc., 6.45%, 6/15/34 | 3121000 | 3314465 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 5905000 | 5801089 |
| Lincoln National Corp., 7.00%, 6/15/40 | 6472000 | 7367799 |
| MetLife, Inc., 6.40%, 12/15/66 | 4271000 | 4499537 |
| Wynnton Funding Trust II, 5.99%, 8/15/55<sup>(1)</sup> | 4421000 | 4541110 |
|  |  | 39964644 |
| **Machinery — 0.3%** |  |  |
| AGCO Corp., 5.80%, 3/21/34 | 3689000 | 3836710 |
| Caterpillar, Inc., 5.20%, 5/15/35 | 1690000 | 1749156 |
| Nordson Corp., 4.50%, 12/15/29 | 6785000 | 6826259 |
| Weir Group, Inc., 5.35%, 5/6/30<sup>(1)</sup> | 4092000 | 4210800 |
|  |  | 16622925 |
| **Media — 0.3%** |  |  |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 3414000 | 3489965 |
| Paramount Global, 4.375%, 3/15/43 | 6033000 | 4659331 |
| Time Warner Cable LLC, 6.55%, 5/1/37 | 5731000 | 5964161 |
|  |  | 14113457 |
| **Metals and Mining — 0.3%** |  |  |
| Glencore Funding LLC, 5.19%, 4/1/30<sup>(1)</sup> | 6635000 | 6839612 |
| Glencore Funding LLC, 5.89%, 4/4/54<sup>(1)</sup> | 815000 | 824315 |
| Newmont Corp./Newcrest Finance Pty. Ltd., 5.35%, 3/15/34 | 4855000 | 5066476 |
| Rio Tinto Finance USA PLC, 5.75%, 3/14/55 | 2900000 | 2986677 |
|  |  | 15717080 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.4%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 6/15/29<sup>(1)</sup> | 10185000 | 10002801 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 7850000 | 8235943 |
|  |  | 18238744 |
| **Multi-Utilities — 0.3%** |  |  |
| NiSource, Inc., 5.35%, 7/15/35 | 4828000 | 4933110 |
| Sempra, 3.25%, 6/15/27 | 1683000 | 1654177 |
| Sempra, VRN, 4.125%, 4/1/52 | 9939000 | 9695224 |
|  |  | 16282511 |
| **Oil, Gas and Consumable Fuels — 2.1%** |  |  |
| Cheniere Energy, Inc., 4.625%, 10/15/28 | 4970000 | 4955837 |
| Columbia Pipelines Operating Co. LLC, 6.04%, 11/15/33<sup>(1)</sup> | 4455000 | 4755304 |
| Diamondback Energy, Inc., 6.25%, 3/15/33 | 4135000 | 4456593 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 12220000 | 12275564 |
| Energy Transfer LP, 6.55%, 12/1/33 | 7696000 | 8421282 |
| Energy Transfer LP, 6.125%, 12/15/45 | 5835000 | 5878491 |
| Eni SpA, 5.95%, 5/15/54<sup>(1)</sup> | 4614000 | 4615635 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 973000 | 983238 |
| HF Sinclair Corp., 5.50%, 9/1/32 | 1602000 | 1629606 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Northern Natural Gas Co., 5.625%, 2/1/54<sup>(1)</sup> | $105000 | $103427 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 17922000 | 17858349 |
| Petroleos Mexicanos, 6.84%, 1/23/30 | 1562000 | 1589785 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 17075000 | 16549681 |
| Repsol E&P Capital Markets U.S. LLC, 5.20%, 9/16/30<sup>(1)</sup> | 4096000 | 4127497 |
| Repsol E&P Capital Markets U.S. LLC, 5.98%, 9/16/35<sup>(1)</sup> | 1534000 | 1563577 |
| Shell Finance U.S., Inc., 4.375%, 5/11/45 | 1775000 | 1552333 |
| SM Energy Co., 6.75%, 9/15/26 | 3630000 | 3631429 |
| Southern Natural Gas Co. LLC, 5.45%, 8/1/35<sup>(1)</sup> | 1687000 | 1721965 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 4191000 | 4157333 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 2963000 | 3149082 |
|  |  | 103976008 |
| **Passenger Airlines — 0.1%** |  |  |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 3775000 | 3720050 |
| **Pharmaceuticals — 0.2%** |  |  |
| Bristol-Myers Squibb Co., 5.55%, 2/22/54 | 4750000 | 4737497 |
| Merck & Co., Inc., 5.70%, 9/15/55 | 3782000 | 3905678 |
|  |  | 8643175 |
| **Retail REITs — 0.0%** |  |  |
| Realty Income Corp., 4.50%, 2/1/33<sup>(2)</sup> | 747000 | 739064 |
| **Semiconductors and Semiconductor Equipment — 1.2%** |  |  |
| Applied Materials, Inc., 4.60%, 1/15/36 | 2682000 | 2655310 |
| Broadcom, Inc., 4.80%, 2/15/36 | 3931000 | 3920592 |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(1)</sup> | 7632000 | 7924882 |
| Foundry JV Holdco LLC, 6.25%, 1/25/35<sup>(1)</sup> | 5915000 | 6338119 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 4247000 | 4517139 |
| Foundry JV Holdco LLC, 6.30%, 1/25/39<sup>(1)</sup> | 7597000 | 8180710 |
| Intel Corp., 3.90%, 3/25/30 | 8335000 | 8178425 |
| Intel Corp., 5.15%, 2/21/34 | 4215000 | 4274953 |
| Intel Corp., 5.60%, 2/21/54 | 2994000 | 2876763 |
| Micron Technology, Inc., 5.30%, 1/15/31 | 9270000 | 9595626 |
|  |  | 58462519 |
| **Software — 0.7%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 773000 | 790978 |
| AppLovin Corp., 5.375%, 12/1/31 | 2069000 | 2141100 |
| AppLovin Corp., 5.50%, 12/1/34 | 4495000 | 4642212 |
| Oracle Corp., 4.80%, 9/26/32 | 7380000 | 7391372 |
| Oracle Corp., 5.20%, 9/26/35 | 7355000 | 7398301 |
| Oracle Corp., 5.50%, 9/27/64 | 2365000 | 2167586 |
| Synopsys, Inc., 5.00%, 4/1/32 | 10141000 | 10366438 |
|  |  | 34897987 |
| **Specialized REITs — 0.2%** |  |  |
| EPR Properties, 4.95%, 4/15/28 | 7485000 | 7544577 |
| EPR Properties, 3.75%, 8/15/29 | 45000 | 43336 |
|  |  | 7587913 |
| **Specialty Retail — 0.2%** |  |  |
| Home Depot, Inc., 4.65%, 9/15/35 | 1903000 | 1884911 |
| Lowe's Cos., Inc., 4.50%, 10/15/32 | 5455000 | 5412480 |
| Lowe's Cos., Inc., 4.85%, 10/15/35 | 3635000 | 3606341 |
|  |  | 10903732 |
| **Technology Hardware, Storage and Peripherals — 0.4%** |  |  |
| Apple, Inc., 4.50%, 5/12/32 | 5445000 | 5560918 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Dell International LLC/EMC Corp., 4.50%, 2/15/31<sup>(2)</sup> | $6875000 | $6860890 |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 | 2252000 | 2325694 |
| Hewlett Packard Enterprise Co., 4.85%, 10/15/31 | 2962000 | 2993972 |
|  |  | 17741474 |
| **Textiles, Apparel and Luxury Goods — 0.1%** |  |  |
| Gildan Activewear, Inc., 4.70%, 10/7/30<sup>(1)(2)</sup> | 2135000 | 2132656 |
| Gildan Activewear, Inc., 5.40%, 10/7/35<sup>(1)(2)</sup> | 1780000 | 1781128 |
|  |  | 3913784 |
| **Wireless Telecommunication Services — 0.1%** |  |  |
| T-Mobile USA, Inc., 6.70%, 12/15/33 | 6198000 | 6933804 |
| **TOTAL CORPORATE BONDS**<br>(Cost $1,001,937,107) |  | **1018091993** |
| **U.S. TREASURY SECURITIES — 17.5%** |  |  |
| U.S. Treasury Bonds, 3.875%, 5/15/43 | 5000000 | 4530469 |
| U.S. Treasury Bonds, 4.375%, 8/15/43 | 15000000 | 14481152 |
| U.S. Treasury Bonds, 4.75%, 11/15/43 | 17500000 | 17691406 |
| U.S. Treasury Bonds, 4.50%, 2/15/44 | 25000000 | 24458008 |
| U.S. Treasury Bonds, 4.625%, 5/15/44 | 15000000 | 14893945 |
| U.S. Treasury Bonds, 4.625%, 11/15/44 | 3000000 | 2972930 |
| U.S. Treasury Bonds, 3.00%, 5/15/45 | 3500000 | 2724805 |
| U.S. Treasury Bonds, 5.00%, 5/15/45 | 10000000 | 10386719 |
| U.S. Treasury Notes, 3.875%, 6/15/28 | 95000000 | 95634570 |
| U.S. Treasury Notes, 4.125%, 3/31/29<sup>(3)</sup> | 39000000 | 39600996 |
| U.S. Treasury Notes, 4.00%, 5/31/30 | 143000000 | 144698125 |
| U.S. Treasury Notes, 3.625%, 8/31/30 | 68000000 | 67660000 |
| U.S. Treasury Notes, 4.125%, 8/31/30 | 110000000 | 111862695 |
| U.S. Treasury Notes, 4.375%, 11/30/30 | 161000000 | 165572149 |
| U.S. Treasury Notes, 3.75%, 12/31/30 | 27000000 | 26976269 |
| U.S. Treasury Notes, 4.00%, 1/31/31 | 10000000 | 10106445 |
| U.S. Treasury Notes, 4.25%, 2/28/31 | 16000000 | 16363125 |
| U.S. Treasury Notes, 3.875%, 8/31/32 | 66100000 | 65914094 |
| U.S. Treasury Notes, 4.125%, 11/15/32 | 18000000 | 18211641 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $846,150,935) |  | **854739543** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 13.3%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 12.9%** |  |  |
| BRAVO Residential Funding Trust, Series 2024-RPL1, Class A1, SEQ, VRN, 3.25%, 10/25/63<sup>(1)</sup> | 16360065 | 15263596 |
| Chase Home Lending Mortgage Trust, Series 2024-10, Class A4, VRN, 6.00%, 10/25/55<sup>(1)</sup> | 13864819 | 14052390 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 5748938 | 5818014 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A4, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 8155606 | 8257035 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 8912554 | 8924753 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 14899849 | 14981071 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 5849175 | 5865438 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(1)</sup> | 18431078 | 18556218 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, VRN, 6.00%, 6/25/56<sup>(1)</sup> | 21808498 | 22104909 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 26821106 | 27005128 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 10713 | 10743 |
| Citigroup Mortgage Loan Trust, Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 13123051 | 13308312 |
| Citigroup Mortgage Loan Trust, Series 2025-3, Class A11, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 12367737 | 12444118 |
| Credit Suisse Mortgage Trust, Series 2020-AFC1, Class A3, VRN, 3.51%, 2/25/50<sup>(1)</sup> | 870702 | 834295 |
| EFMT, Series 2025-CES2, Class A1A, 5.66%, 2/25/60<sup>(1)</sup> | 12680878 | 12821887 |
| GCAT Trust, Series 2021-NQM1, Class A3, SEQ, VRN, 1.15%, 1/25/66<sup>(1)</sup> | 1843114 | 1658547 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| GCAT Trust, Series 2024-INV2, Class A6, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | $7273390 | $7361192 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 9690212 | 9767916 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, SEQ, VRN, 6.00%, 1/25/54<sup>(1)</sup> | 6361347 | 6441698 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A15, SEQ, VRN, 6.00%, 4/25/54<sup>(1)</sup> | 6572075 | 6635104 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ1, Class A15, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 13098223 | 13198872 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 19417125 | 19519185 |
| JP Morgan Mortgage Trust, Series 2020-3, Class A15, VRN, 3.50%, 8/25/50<sup>(1)</sup> | 1708794 | 1536831 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> | 16761832 | 16865484 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A2, VRN, 6.00%, 2/25/54<sup>(1)</sup> | 4429205 | 4493489 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 13871983 | 13934651 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 9922721 | 9949615 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 21279862 | 21584970 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 8554679 | 8631819 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 11259658 | 11342890 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 12595128 | 12783724 |
| JP Morgan Mortgage Trust, Series 2025-2, Class A4, VRN, 6.00%, 7/25/55<sup>(1)</sup> | 17195944 | 17441846 |
| MFA Trust, Series 2021-NQM1, Class A3, VRN, 1.64%, 4/25/65<sup>(1)</sup> | 2523189 | 2394080 |
| MFA Trust, Series 2024-NQM1, Class A1, SEQ, 6.58%, 3/25/69<sup>(1)</sup> | 9416482 | 9558032 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A1, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 10631928 | 10779699 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A3, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 8531454 | 8639604 |
| OBX Trust, Series 2024-HYB2, Class A1, SEQ, VRN, 3.69%, 4/25/53<sup>(1)</sup> | 5825123 | 5740196 |
| OBX Trust, Series 2024-NQM7, Class A1, 6.24%, 3/25/64<sup>(1)</sup> | 4903372 | 4972061 |
| OBX Trust, Series 2025-J1, Class A4, SEQ, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 8762264 | 8907896 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 29825312 | 30039046 |
| Provident Funding Mortgage Trust, Series 2025-1, Class A3, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 24692724 | 24841885 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 19573312 | 19637657 |
| Radian Mortgage Capital Trust, Series 2025-J3, Class A15, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 8871916 | 8919912 |
| Rate Mortgage Trust, Series 2024-J1, Class A7, SEQ, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 8022129 | 8083749 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 5043307 | 5056578 |
| Rate Mortgage Trust, Series 2025-J1, Class A5, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 5671941 | 5722301 |
| RCKT Mortgage Trust, Series 2024-CES8, Class A1A, 5.49%, 11/25/44<sup>(1)</sup> | 9679501 | 9767068 |
| Saluda Grade Alternative Mortgage Trust, Series 2024-CES1, Class A1, SEQ, VRN, 6.31%, 3/25/54<sup>(1)</sup> | 12024980 | 12161413 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 5526857 | 5537982 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 7943894 | 7981244 |
| Sequoia Mortgage Trust, Series 2024-6, Class A11, SEQ, VRN, 6.00%, 7/27/54<sup>(1)</sup> | 12784641 | 12884604 |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 6244141 | 6269177 |
| Sequoia Mortgage Trust, Series 2025-7, Class A5, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 23046472 | 23204599 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 15977644 | 16098096 |
| SoFi Mortgage Trust, Series 2016-1A, Class 1A4, SEQ, VRN, 3.00%, 11/25/46<sup>(1)</sup> | 877724 | 789782 |
| Towd Point Mortgage Trust, Series 2024-1, Class A1, SEQ, VRN, 4.88%, 3/25/64<sup>(1)</sup> | 16695319 | 16976645 |
| Verus Securitization Trust, Series 2021-R2, Class A3, VRN, 1.23%, 2/25/64<sup>(1)</sup> | 1842923 | 1719220 |
|  |  | 630078266 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.4%** |  |  |
| FHLMC, Series 3397, Class GF, VRN, 4.99%, (30-day average SOFR plus 0.61%), 12/15/37 | 547786 | 545743 |
| FNMA, Series 2017-C03, Class 1M2C, VRN, 7.47%, (30-day average SOFR plus 3.11%), 10/25/29 | 1603298 | 1628285 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 129929337 | 16737068 |
| GNMA, Series 2007-5, Class FA, VRN, 4.39%, (1-month SOFR plus 0.25%), 2/20/37 | 520899 | 520788 |
|  |  | 19431884 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $641,904,638) |  | **649510150** |
| **ASSET-BACKED SECURITIES — 4.5%** |  |  |
| Aligned Data Centers Issuer LLC, Series 2021-1A, Class B, 2.48%, 8/15/46<sup>(1)</sup> | 10582000 | 10316345 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class A, SEQ, 2.44%, 7/15/46<sup>(1)</sup> | $9322475 | $8817850 |
| Capital Automotive REIT, Series 2024-2A, Class A1, SEQ, 4.90%, 5/15/54<sup>(1)</sup> | 12827333 | 12820646 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> | 11800000 | 11615669 |
| DI Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.72%, 9/15/51<sup>(1)</sup> | 28969852 | 27716749 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> | 18500000 | 17969007 |
| Goodgreen Trust, Series 2018-1A, Class A, VRN, 3.93%, 10/15/53<sup>(1)</sup> | 5746623 | 5320158 |
| Goodgreen Trust, Series 2020-1A, Class A, SEQ, 2.63%, 4/15/55<sup>(1)</sup> | 6834352 | 5705769 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> | 7560461 | 6272563 |
| Hotwire Funding LLC, Series 2024-1A, Class A2, SEQ, 5.89%, 6/20/54<sup>(1)</sup> | 10375000 | 10560251 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 22715000 | 15426820 |
| PK Alift Loan Funding 3 LP, Series 2024-1, Class A1, SEQ, 5.84%, 9/15/39<sup>(1)</sup> | 9252139 | 9481217 |
| RCKT Mortgage Trust, Series 2024-CES2, Class A1A, VRN, 6.14%, 4/25/44<sup>(1)</sup> | 5748102 | 5821911 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(1)</sup> | 5250600 | 5340477 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A1A, 6.15%, 6/25/44<sup>(1)</sup> | 12779277 | 12959715 |
| RCKT Mortgage Trust, Series 2024-CES6, Class A1A, 5.34%, 9/25/44<sup>(1)</sup> | 4281054 | 4299071 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class B, 5.56%, 4/20/32<sup>(1)</sup> | 5425000 | 5616616 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class C, 5.82%, 9/20/32<sup>(1)</sup> | 3150000 | 3267643 |
| Sierra Timeshare Receivables Funding LLC, Series 2021-1A, Class C, 1.79%, 11/20/37<sup>(1)</sup> | 1016258 | 1008184 |
| Subway Funding LLC, Series 2024-1A, Class A2I, SEQ, 6.03%, 7/30/54<sup>(1)</sup> | 20581472 | 20885905 |
| Switch ABS Issuer LLC, Series 2024-2A, Class A2, SEQ, 5.44%, 6/25/54<sup>(1)</sup> | 9075000 | 9126619 |
| Towd Point Mortgage Trust, Series 2024-CES3, Class A1, VRN, 6.29%, 5/25/64<sup>(1)</sup> | 9102917 | 9224827 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $226,439,812) |  | **219574012** |
| **CONVERTIBLE PREFERRED SECURITIES — 3.7%** |  |  |
| **Banks — 3.6%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 2596000 | 2631807 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 7400000 | 7406455 |
| Banco Santander SA, 4.75% | 12200000 | 12002188 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 3546000 | 3494174 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 10676000 | 11420139 |
| Danske Bank AS, 4.375% | 22550000 | 22422945 |
| ING Groep NV, 5.75% | 10835000 | 10880561 |
| ING Groep NV, 7.50% | 12706000 | 13220300 |
| Lloyds Banking Group PLC, 6.75% | 7117000 | 7231619 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 12589000 | 12800986 |
| NatWest Group PLC, 6.00% | 21580000 | 21689044 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 18945000 | 19064543 |
| Skandinaviska Enskilda Banken AB, 6.875% | 12800000 | 13146673 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 1816000 | 1801331 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 7650000 | 8212994 |
| Svenska Handelsbanken AB, 4.375% | 8000000 | 7881671 |
|  |  | 175307430 |
| **Capital Markets — 0.1%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 6625000 | 7325223 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $180,262,891) |  | **182632653** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.5%** |  |  |
| ARZ Trust, Series 2024-BILT, Class A, SEQ, 5.77%, 6/11/39<sup>(1)</sup> | $8788000 | 9053619 |
| Bank5, Series 2024-5YR7, Class A3, SEQ, 5.77%, 6/15/57 | 22036000 | 23013592 |
| Bank5 Trust, Series 2024-5YR6, Class A3, SEQ, 6.23%, 5/15/57 | 11969000 | 12649391 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class A3, SEQ, 6.01%, 7/15/57 | 5852000 | 6161187 |
| BX Trust, Series 2023-LIFE, Class A, SEQ, 5.05%, 2/15/28<sup>(1)</sup> | 18507000 | 18327641 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| DBSG Mortgage Trust, Series 2024-ALTA, Class A, SEQ, VRN, 6.14%, 6/10/37<sup>(1)</sup> | $9714000 | $9882305 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class A, SEQ, 7.07%, 11/10/39<sup>(1)</sup> | 13050000 | 13353564 |
| MIRA Trust, Series 2023-MILE, Class A, SEQ, 6.75%, 6/10/38<sup>(1)</sup> | 13305000 | 13867296 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, VRN, 5.59%, (1-month SOFR plus 1.44%), 2/15/42<sup>(1)</sup> | 18520000 | 18450042 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $122,684,867) |  | **124758637** |
| **PREFERRED SECURITIES — 2.0%** |  |  |
| **Banks — 1.2%** |  |  |
| Bank of America Corp., 6.25% | 12300000 | 12468222 |
| Citigroup, Inc., 3.875% | 13865000 | 13752235 |
| Citigroup, Inc., 4.00% | 16425000 | 16381099 |
| M&T Bank Corp., 5.125% | 611000 | 611904 |
| Wells Fargo & Co., 3.90% | 16045000 | 15908192 |
|  |  | 59121652 |
| **Capital Markets — 0.5%** |  |  |
| Charles Schwab Corp., 4.00% | 16084000 | 15920844 |
| Charles Schwab Corp., 5.00% | 10360000 | 10325398 |
|  |  | 26246242 |
| **Multi-Utilities — 0.3%** |  |  |
| Sempra, 4.875% | 11773000 | 11785715 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $95,918,303) |  | **97153609** |
| **COLLATERALIZED LOAN OBLIGATIONS — 1.8%** |  |  |
| ACREC LLC, Series 2023-FL2, Class A, VRN, 6.38%, (1-month SOFR plus 2.23%), 2/19/38<sup>(1)</sup> | $3600333 | 3602591 |
| Elmwood CLO 37 Ltd., Series 2024-13A, Class C, VRN, 6.02%, (3-month SOFR plus 1.70%), 1/17/38<sup>(1)</sup> | 13825000 | 13842652 |
| GoldenTree Loan Management U.S. CLO 23 Ltd., Series 2024-23A, Class C, VRN, 6.08%, (3-month SOFR plus 1.75%), 1/20/39<sup>(1)</sup> | 13825000 | 13853202 |
| Madison Park Funding LXVIII Ltd., Series 2024-68A, Class C, VRN, 6.13%, (3-month SOFR plus 1.80%), 1/20/38<sup>(1)</sup> | 13825000 | 13857337 |
| Magnetite XLI Ltd., Series 2024-41A, Class C, VRN, 6.10%, (3-month SOFR plus 1.78%), 1/25/38<sup>(1)</sup> | 6375000 | 6389817 |
| MF1 Ltd., Series 2021-FL7, Class AS, VRN, 5.70%, (1-month SOFR plus 1.56%), 10/16/36<sup>(1)</sup> | 17817000 | 17780839 |
| Mountain View CLO LLC, Series 2017-2A, Class B, VRN, 6.28%, (3-month SOFR plus 1.96%), 1/16/31<sup>(1)</sup> | 5798971 | 5799840 |
| Shackleton CLO Ltd., Series 2017-11A, Class BR1, VRN, 6.12%, (3-month SOFR plus 1.91%), 8/15/30<sup>(1)</sup> | 10587964 | 10586270 |
| THL Credit Wind River CLO Ltd., Series 2013-2A, Class BR2, VRN, 6.16%, (3-month SOFR plus 1.83%), 10/18/30<sup>(1)</sup> | 3220461 | 3220622 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $88,832,996) |  | **88933170** |
| **MUNICIPAL SECURITIES — 1.1%** |  |  |
| California State University Rev., 2.98%, 11/1/51  | 4000000 | 2783334 |
| Foothill-Eastern Transportation Corridor Agency Rev., 4.09%, 1/15/49  | 6048000 | 4871742 |
| Golden State Tobacco Securitization Corp. Rev., 2.75%, 6/1/34  | 10765000 | 9558504 |
| Houston GO, 3.96%, 3/1/47  | 2500000 | 2149356 |
| Los Angeles Community College District GO, 6.75%, 8/1/49  | 2400000 | 2701951 |
| Los Angeles Department of Airports Rev., 6.58%, 5/15/39  | 1300000 | 1413246 |
| Michigan Strategic Fund Rev., (Flint Water Advocacy Fund), 3.23%, 9/1/47  | 5000000 | 3812943 |
| Missouri Highway & Transportation Commission Rev., 5.45%, 5/1/33  | 100000 | 103368 |
| New Jersey Turnpike Authority Rev., 7.10%, 1/1/41  | 970000 | 1124805 |
| New York City GO, 5.97%, 3/1/36  | 500000 | 527301 |
| New York City GO, 6.27%, 12/1/37  | 335000 | 362143 |
| New York State Dormitory Authority Rev., Series F, 3.19%, 2/15/43<sup>(4)</sup> | 500000 | 387755 |
| Ohio Turnpike & Infrastructure Commission Rev., 3.22%, 2/15/48  | 5645000 | 4202384 |
| Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51  | 2300000 | 2162906 |
| Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60  | 4120000 | 2649256 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| State of California GO, 4.60%, 4/1/28, Prerefunded at 100% of Par<sup>(4)</sup> |  | $3035000 | $3096896 |
| State of California GO, 7.60%, 11/1/40  |  | 455000 | 560167 |
| Sumter Landing Community Development District Rev., 5.57%, 10/1/40 (AG) |  | 885000 | 920129 |
| Sumter Landing Community Development District Rev., 5.74%, 10/1/45 (AG) |  | 1330000 | 1366292 |
| Sumter Landing Community Development District Rev., 5.82%, 10/1/54 (AG) |  | 2410000 | 2465763 |
| Texas Natural Gas Securitization Finance Corp. Rev., SEQ, 5.17%, 4/1/41  |  | 3865000 | 3942122 |
| United Nations Development Corp. Rev., (City of New York), Series A, 6.54%, 8/1/55  |  | 840000 | 898003 |
| University of California Rev., 3.07%, 5/15/51  |  | 3480000 | 2330017 |
| **TOTAL MUNICIPAL SECURITIES**<br>(Cost $64,730,079) |  |  | **54390383** |
| **U.S. GOVERNMENT AGENCY SECURITIES — 1.0%** |  |  |  |
| FHLMC, 6.25%, 7/15/32 |  | 1000000 | 1135774 |
| FNMA, 0.75%, 10/8/27 |  | 29724000 | 28094662 |
| FNMA, 0.875%, 8/5/30 |  | 4300000 | 3760730 |
| FNMA, 6.625%, 11/15/30 |  | 10000000 | 11307601 |
| Tennessee Valley Authority, 1.50%, 9/15/31 |  | 4000000 | 3482312 |
| **TOTAL U.S. GOVERNMENT AGENCY SECURITIES**<br>(Cost $49,936,267) |  |  | **47781079** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 0.7%** |  |  |  |
| **Chile — 0.1%** |  |  |  |
| Chile Government International Bonds, 5.33%, 1/5/54 |  | 4940000 | 4800569 |
| **Luxembourg — 0.3%** |  |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> |  | 13401000 | 13612870 |
| **New Zealand — 0.3%** |  |  |  |
| New Zealand Government Bonds, 4.50%, 5/15/35 | NZD | 30000000 | 17821420 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $35,998,162) |  |  | **36234859** |
| **SHORT-TERM INVESTMENTS**<sup>(5)</sup> **— 2.5%** |  |  |  |
| **Commercial Paper**<sup>(6)</sup> **— 1.9%** |  |  |  |
| Aquitaine Funding Co. LLC, 4.20%, 10/1/25<sup>(1)</sup> |  | $25000000 | 24997125 |
| HQLA Funding LLC, Series CHAM, 4.22%, 10/1/25 (LOC: Credit Agricole Corporate and Investment Bank)<sup>(1)</sup> |  | 22005000 | 22002456 |
| Mainbeach Funding LLC, 4.20%, 10/1/25<sup>(1)</sup> |  | 21300000 | 21297574 |
| Overwatch Alpha Funding LLC, 4.20%, 10/1/25<sup>(1)</sup> |  | 25000000 | 24997145 |
|  |  |  | 93294300 |
| **Repurchase Agreements — 0.6%** |  |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.625%, 2/15/55, valued at $30,676,577), at 4.19%, dated 9/30/25, due 10/1/25 (Delivery value $30,078,500) |  |  | 30075000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $123,380,000) |  |  | **123369300** |
| **TOTAL INVESTMENT SECURITIES — 103.0%**<br>(Cost $5,037,189,347) |  |  | **5041063351** |
| **OTHER ASSETS AND LIABILITIES — (3.0)%** |  |  | **(148040383)** |
| **TOTAL NET ASSETS — 100.0%** |  |  | $**4893022968** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | **Counterparty** | **Settlement Date** | **Unrealized <br>Appreciation<br>(Depreciation)** |
| USD | 18490562 | NZD | 30965567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS AG | 12/17/25 | $485882 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional <br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| Canadian 10-Year Government Bonds | 429 | December 2025 | $37749041 | $834295 |
| U.K. Gilt 10-Year Bonds | 228 | December 2025 | 27854912 | (138339) |
| U.S. Treasury 10-Year Notes | 686 | December 2025 | 77175000 | (233713) |
| U.S. Treasury 10-Year Ultra Notes | 423 | December 2025 | 48678047 | (398520) |
| U.S. Treasury Long Bonds | 600 | December 2025 | 69956250 | (462467) |
| U.S. Treasury Ultra Bonds | 1874 | December 2025 | 224997125 | 4006094 |
|  |  |  | $486410375 | $3607350 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type** | **Fixed**<br>**Rate**<br>**Received**<br>**(Paid)**<br>**Quarterly** | **Termination**<br>**Date** | **Notional**<br>**Amount** | **Premiums**<br>**Paid**<br>**(Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 44 | Buy | (5.00)% | 6/20/30 | $174400000 | $(12138306) | $(2009020) | $(14147326) |

---

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AG | Assured Guaranty, Inc. |
| CDX | Credit Derivatives Indexes |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| GNMA | Government National Mortgage Association |
| GO | General Obligation |
| H15T5Y | Constant Maturity U.S. Treasury Note Yield Curve Rate Index 5 Year |
| IO | Interest Only |
| LOC | Letter of Credit |
| NZD | New Zealand Dollar |
| RFUCC | FTSE USD IBOR Consumer Cash Fallbacks |
| SEQ | Sequential Payer |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| UMBS | Uniform Mortgage-Backed Securities |
| USD | United States Dollar |
| VRN | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $1,457,916,791, which represented 29.8% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments, forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $24,600,338.

(4)Escrowed to maturity in U.S. government securities or state and local government securities.

(5)Includes securities purchased with cash collateral received at the custodian bank for collateral requirements on forward commitments. At the period end, the aggregate value of cash deposits received was $1,585,160.

(6)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

------

Schedule of Investments - Diversified Bond Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| U.S. Government Agency Mortgage-Backed Securities |  | $1543893963 |  |
| Corporate Bonds |  | 1018091993 |  |
| U.S. Treasury Securities |  | 854739543 |  |
| Collateralized Mortgage Obligations |  | 649510150 |  |
| Asset-Backed Securities |  | 219574012 |  |
| Convertible Preferred Securities |  | 182632653 |  |
| Commercial Mortgage-Backed Securities |  | 124758637 |  |
| Preferred Securities |  | 97153609 |  |
| Collateralized Loan Obligations |  | 88933170 |  |
| Municipal Securities |  | 54390383 |  |
| U.S. Government Agency Securities |  | 47781079 |  |
| Sovereign Governments and Agencies |  | 36234859 |  |
| Short-Term Investments |  | 123369300 |  |
|  |  | $5041063351 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $4006094 | $834295 |  |
| Forward Foreign Currency Exchange Contracts |  | 485882 |  |
|  | $4006094 | $1320177 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $1094700 | $138339 |  |
| Swap Agreements |  | 14147326 |  |
|  | $1094700 | $14285665 |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Asset Derivatives:** | | | | |
| Unrealized appreciation on forward foreign currency exchange contracts |  | $485882 |  | $485882 |
| **Liability Derivatives:** |  |  |  |  |
| Payable for variation margin on futures contracts\* |  |  | $1256539 | $1256539 |
| Payable for variation margin on swap agreements\* | $30629 |  |  | 30629 |
|  |  |  |  | $1287168 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

------

Schedule of Investments - Diversified Bond Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Net realized gain (loss) on:** | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions |  | $64190 |  | $64190 |
| &nbsp;&nbsp;Futures contract transactions |  |  | $(5979776) | (5979776) |
| &nbsp;&nbsp;Swap agreement transactions | $(923162) |  |  | (923162) |
|  |  |  |  | $(6838748) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $485882 |  | $485882 |
| &nbsp;&nbsp;Futures contracts |  |  | $3437550 | 3437550 |
| &nbsp;&nbsp;Swap agreements | $(2009020) |  |  | (2009020) |
|  |  |  |  | $1914412 |

---

See Notes to Financial Statements.

------

Schedule of Investments - High Income Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 96.0%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 2.6%** |  |  |
| ATI, Inc., 5.875%, 12/1/27 | $325000 | $325899 |
| ATI, Inc., 4.875%, 10/1/29 | 625000 | 615004 |
| ATI, Inc., 7.25%, 8/15/30 | 850000 | 892917 |
| ATI, Inc., 5.125%, 10/1/31 | 1550000 | 1526594 |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> | 1425000 | 1467077 |
| Axon Enterprise, Inc., 6.25%, 3/15/33<sup>(1)</sup> | 2350000 | 2424721 |
| Boeing Co., 6.53%, 5/1/34 | 1025000 | 1133917 |
| Boeing Co., 6.86%, 5/1/54 | 1900000 | 2168780 |
| Boeing Co., 7.01%, 5/1/64 | 400000 | 463400 |
| Bombardier, Inc., 7.125%, 6/15/26<sup>(1)</sup> | 312000 | 311340 |
| Bombardier, Inc., 7.875%, 4/15/27<sup>(1)</sup> | 302000 | 303509 |
| Bombardier, Inc., 6.00%, 2/15/28<sup>(1)</sup> | 2300000 | 2307631 |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | 1100000 | 1148008 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 675000 | 728758 |
| Bombardier, Inc., 7.25%, 7/1/31<sup>(1)</sup> | 1325000 | 1406199 |
| Bombardier, Inc., 6.75%, 6/15/33<sup>(1)</sup> | 825000 | 861967 |
| Carpenter Technology Corp., 6.375%, 7/15/28 | 1994000 | 1999823 |
| Efesto Bidco SpA Efesto U.S. LLC, 7.50%, 2/15/32<sup>(1)</sup> | 3200000 | 3258960 |
| Goat Holdco LLC, 6.75%, 2/1/32<sup>(1)</sup> | 925000 | 948953 |
| OneSky Flight LLC, 8.875%, 12/15/29<sup>(1)</sup> | 1000000 | 1052513 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 1600000 | 1599330 |
| Spirit AeroSystems, Inc., 9.375%, 11/30/29<sup>(1)</sup> | 1860000 | 1961312 |
| Spirit AeroSystems, Inc., 9.75%, 11/15/30<sup>(1)</sup> | 1050000 | 1156096 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(1)</sup> | 1400000 | 1428433 |
| TransDigm, Inc., 6.375%, 3/1/29<sup>(1)</sup> | 825000 | 844512 |
| TransDigm, Inc., 4.875%, 5/1/29 | 1725000 | 1701002 |
| TransDigm, Inc., 6.875%, 12/15/30<sup>(1)</sup> | 1875000 | 1944431 |
| TransDigm, Inc., 7.125%, 12/1/31<sup>(1)</sup> | 225000 | 234976 |
| TransDigm, Inc., 6.625%, 3/1/32<sup>(1)</sup> | 2975000 | 3066615 |
| TransDigm, Inc., 6.375%, 5/31/33<sup>(1)</sup> | 8525000 | 8642159 |
| TransDigm, Inc., 6.25%, 1/31/34<sup>(1)</sup> | 700000 | 720415 |
| TransDigm, Inc., 6.75%, 1/31/34<sup>(1)</sup> | 1125000 | 1164008 |
|  |  | 49809259 |
| **Air Freight and Logistics — 0.1%** |  |  |
| Rand Parent LLC, 8.50%, 2/15/30<sup>(1)</sup> | 1025000 | 1065969 |
| **Automobile Components — 1.6%** |  |  |
| Adient Global Holdings Ltd., 8.25%, 4/15/31<sup>(1)</sup> | 725000 | 760936 |
| Adient Global Holdings Ltd., 7.50%, 2/15/33<sup>(1)</sup> | 350000 | 362682 |
| American Axle & Manufacturing, Inc., 5.00%, 10/1/29 | 2336000 | 2221314 |
| American Axle & Manufacturing, Inc., 6.375%, 10/15/32<sup>(1)(2)</sup> | 550000 | 549415 |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)(2)</sup> | 1025000 | 1033631 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, 2/15/30<sup>(1)</sup> | 1625000 | 1679933 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, 9/15/32<sup>(1)</sup> | 1450000 | 1483038 |
| Dana, Inc., 4.25%, 9/1/30 | 400000 | 396465 |
| Dana, Inc., 4.50%, 2/15/32 | 1475000 | 1453503 |
| Dealer Tire LLC/DT Issuer LLC, 8.00%, 2/1/28<sup>(1)</sup> | 1375000 | 1361089 |
| Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/29<sup>(1)</sup> | 2400000 | 2067097 |
| Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%, 5/31/32<sup>(1)</sup> | 625000 | 656127 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Goodyear Tire & Rubber Co., 5.00%, 7/15/29 | $1400000 | $1353022 |
| Goodyear Tire & Rubber Co., 5.25%, 7/15/31 | 2704000 | 2542253 |
| Goodyear Tire & Rubber Co., 5.625%, 4/30/33 | 775000 | 721558 |
| Patrick Industries, Inc., 4.75%, 5/1/29<sup>(1)</sup> | 1850000 | 1813835 |
| Phinia, Inc., 6.625%, 10/15/32<sup>(1)</sup> | 1050000 | 1083094 |
| Qnity Electronics, Inc., 5.75%, 8/15/32<sup>(1)</sup> | 1175000 | 1185430 |
| Qnity Electronics, Inc., 6.25%, 8/15/33<sup>(1)</sup> | 1250000 | 1278045 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(1)</sup> | 3700000 | 3709419 |
| ZF North America Capital, Inc., 6.75%, 4/23/30<sup>(1)</sup> | 700000 | 683637 |
| ZF North America Capital, Inc., 7.50%, 3/24/31<sup>(1)</sup> | 1875000 | 1863406 |
| ZF North America Capital, Inc., 6.875%, 4/23/32<sup>(1)</sup> | 1000000 | 958097 |
|  |  | 31217026 |
| **Automobiles — 0.7%** |  |  |
| Aston Martin Capital Holdings Ltd., 10.00%, 3/31/29<sup>(1)</sup> | 800000 | 783997 |
| Nissan Motor Acceptance Co. LLC, 5.625%, 9/29/28<sup>(1)</sup> | 1300000 | 1301650 |
| Nissan Motor Acceptance Co. LLC, 5.55%, 9/13/29<sup>(1)</sup> | 325000 | 323733 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 1575000 | 1576522 |
| Nissan Motor Co. Ltd., 7.50%, 7/17/30<sup>(1)</sup> | 400000 | 420091 |
| Nissan Motor Co. Ltd., 4.81%, 9/17/30<sup>(1)</sup> | 2400000 | 2262444 |
| Nissan Motor Co. Ltd., 7.75%, 7/17/32<sup>(1)</sup> | 1250000 | 1323760 |
| Nissan Motor Co. Ltd., 8.125%, 7/17/35<sup>(1)</sup> | 2250000 | 2416770 |
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, 10.00%, 1/15/31<sup>(1)</sup> | 800000 | 745356 |
| Thor Industries, Inc., 4.00%, 10/15/29<sup>(1)</sup> | 575000 | 545607 |
| Winnebago Industries, Inc., 6.25%, 7/15/28<sup>(1)</sup> | 885000 | 884511 |
|  |  | 12584441 |
| **Banks — 1.5%** |  |  |
| CrossCountry Intermediate HoldCo LLC, 6.50%, 10/1/30<sup>(1)</sup> | 775000 | 778821 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 2875000 | 2871044 |
| Freedom Mortgage Corp., 12.00%, 10/1/28<sup>(1)</sup> | 2525000 | 2676500 |
| Freedom Mortgage Corp., 12.25%, 10/1/30<sup>(1)</sup> | 250000 | 279097 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 1500000 | 1579403 |
| Freedom Mortgage Holdings LLC, 7.875%, 4/1/33<sup>(1)</sup> | 825000 | 850610 |
| LD Holdings Group LLC, 8.75%, 11/1/27<sup>(1)</sup> | 1002000 | 991272 |
| LD Holdings Group LLC, 6.125%, 4/1/28<sup>(1)</sup> | 875000 | 809947 |
| Nationstar Mortgage Holdings, Inc., 5.50%, 8/15/28<sup>(1)</sup> | 1800000 | 1800000 |
| Nationstar Mortgage Holdings, Inc., 6.50%, 8/1/29<sup>(1)</sup> | 1800000 | 1852610 |
| Nationstar Mortgage Holdings, Inc., 5.125%, 12/15/30<sup>(1)</sup> | 1675000 | 1698115 |
| Nationstar Mortgage Holdings, Inc., 5.75%, 11/15/31<sup>(1)</sup> | 700000 | 709645 |
| Nationstar Mortgage Holdings, Inc., 7.125%, 2/1/32<sup>(1)</sup> | 775000 | 811206 |
| PHH Escrow Issuer LLC/PHH Corp., 9.875%, 11/1/29<sup>(1)</sup> | 1223000 | 1240721 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/1/29<sup>(1)</sup> | 300000 | 286358 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/1/31<sup>(1)</sup> | 900000 | 841206 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.00%, 10/15/33<sup>(1)</sup> | 3750000 | 3427551 |
| UniCredit SpA, VRN, 5.46%, 6/30/35<sup>(1)</sup> | 1000000 | 1008611 |
| United Wholesale Mortgage LLC, 5.75%, 6/15/27<sup>(1)</sup> | 500000 | 500113 |
| United Wholesale Mortgage LLC, 5.50%, 4/15/29<sup>(1)</sup> | 1950000 | 1924775 |
| UWM Holdings LLC, 6.625%, 2/1/30<sup>(1)</sup> | 425000 | 432719 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 825000 | 821587 |
|  |  | 28191911 |
| **Beverages — 0.2%** |  |  |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1250000 | 1250786 |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc., 4.375%, 4/30/29<sup>(1)</sup> | 2550000 | 2477052 |
|  |  | 3727838 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Biotechnology — 0.0%** |  |  |
| AbbVie, Inc., 5.60%, 3/15/55 | $528000 | $540632 |
| **Broadline Retail — 0.6%** |  |  |
| Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, 12/1/27<sup>(1)</sup> | 1375000 | 1374179 |
| Macy's Retail Holdings LLC, 4.50%, 12/15/34 | 250000 | 219495 |
| Macy's Retail Holdings LLC, 6.375%, 3/15/37 | 900000 | 831537 |
| Macy's Retail Holdings LLC, 5.125%, 1/15/42 | 2175000 | 1720535 |
| Millennium Escrow Corp., 6.625%, 8/1/26<sup>(1)</sup> | 1350000 | 1296543 |
| QVC, Inc., 6.875%, 4/15/29<sup>(1)</sup> | 491000 | 267831 |
| Rakuten Group, Inc., 11.25%, 2/15/27<sup>(1)</sup> | 600000 | 650995 |
| Rakuten Group, Inc., 9.75%, 4/15/29<sup>(1)</sup> | 2575000 | 2897814 |
| Saks Global Enterprises LLC, 11.00%, 12/15/29<sup>(1)</sup> | 2100900 | 1080651 |
| SGUS LLC, 11.00%, 12/15/29<sup>(1)</sup> | 921632 | 878017 |
|  |  | 11217597 |
| **Building Products — 2.2%** |  |  |
| APi Group DE, Inc., 4.125%, 7/15/29<sup>(1)</sup> | 1975000 | 1910894 |
| APi Group DE, Inc., 4.75%, 10/15/29<sup>(1)</sup> | 750000 | 736444 |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> | 1950000 | 1932026 |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 5225000 | 4918147 |
| Builders FirstSource, Inc., 6.375%, 6/15/32<sup>(1)</sup> | 3400000 | 3517542 |
| Builders FirstSource, Inc., 6.375%, 3/1/34<sup>(1)</sup> | 5525000 | 5698242 |
| Builders FirstSource, Inc., 6.75%, 5/15/35<sup>(1)</sup> | 2000000 | 2090765 |
| Camelot Return Merger Sub, Inc., 8.75%, 8/1/28<sup>(1)</sup> | 825000 | 798967 |
| Cornerstone Building Brands, Inc., 6.125%, 1/15/29<sup>(1)</sup> | 725000 | 592857 |
| Cornerstone Building Brands, Inc., 9.50%, 8/15/29<sup>(1)</sup> | 875000 | 851025 |
| CP Atlas Buyer, Inc., 9.75%, 7/15/30<sup>(1)</sup> | 1350000 | 1415144 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.625%, 12/15/30<sup>(1)</sup> | 1375000 | 1415149 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.75%, 7/15/31<sup>(1)</sup> | 525000 | 545905 |
| Griffon Corp., 5.75%, 3/1/28 | 2950000 | 2953469 |
| JELD-WEN, Inc., 7.00%, 9/1/32<sup>(1)</sup> | 550000 | 464892 |
| JH North America Holdings, Inc., 5.875%, 1/31/31<sup>(1)</sup> | 700000 | 711343 |
| JH North America Holdings, Inc., 6.125%, 7/31/32<sup>(1)</sup> | 1050000 | 1076401 |
| Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC, 6.75%, 4/1/32<sup>(1)</sup> | 1250000 | 1284848 |
| MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, 2/1/30<sup>(1)</sup> | 550000 | 537137 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 2050000 | 2105444 |
| Standard Building Solutions, Inc., 6.25%, 8/1/33<sup>(1)</sup> | 1675000 | 1698961 |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 300000 | 297667 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 2050000 | 1966831 |
| Standard Industries, Inc., 3.375%, 1/15/31<sup>(1)</sup> | 650000 | 589185 |
| Wilsonart LLC, 11.00%, 8/15/32<sup>(1)</sup> | 1375000 | 1339551 |
|  |  | 41448836 |
| **Capital Markets — 1.9%** |  |  |
| AG Issuer LLC, 6.25%, 3/1/28<sup>(1)</sup> | 900000 | 902415 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 7775000 | 7385535 |
| Coinbase Global, Inc., 3.625%, 10/1/31<sup>(1)</sup> | 6221000 | 5556472 |
| Compass Group Diversified Holdings LLC, 5.25%, 4/15/29<sup>(1)</sup> | 1195562 | 1105470 |
| Compass Group Diversified Holdings LLC, 5.00%, 1/15/32<sup>(1)</sup> | 839437 | 752795 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.25%, 5/15/26 | 769000 | 768726 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.25%, 5/15/27 | 4417000 | 4345141 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.75%, 1/15/29 | 1742000 | 1760291 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/1/29 | 525000 | 453634 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 10.00%, 11/15/29<sup>(1)</sup> | 1725000 | 1734777 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.00%, 6/15/30 | $1300000 | $1254588 |
| Jane Street Group/JSG Finance, Inc., 4.50%, 11/15/29<sup>(1)</sup> | 1575000 | 1538877 |
| Jane Street Group/JSG Finance, Inc., 7.125%, 4/30/31<sup>(1)</sup> | 400000 | 419871 |
| Jane Street Group/JSG Finance, Inc., 6.125%, 11/1/32<sup>(1)</sup> | 2300000 | 2332911 |
| Jane Street Group/JSG Finance, Inc., 6.75%, 5/1/33<sup>(1)</sup> | 875000 | 909487 |
| LCM Investments Holdings II LLC, 4.875%, 5/1/29<sup>(1)</sup> | 2050000 | 2010030 |
| LCM Investments Holdings II LLC, 8.25%, 8/1/31<sup>(1)</sup> | 800000 | 846699 |
| Maya SAS/Paris France, 7.00%, 10/15/28<sup>(1)</sup> | 400000 | 406746 |
| Maya SAS/Paris France, 8.50%, 4/15/31<sup>(1)</sup> | 750000 | 804992 |
| Maya SAS/Paris France, 7.00%, 4/15/32<sup>(1)</sup> | 600000 | 612632 |
| Osaic Holdings, Inc., 6.75%, 8/1/32<sup>(1)</sup> | 550000 | 568511 |
| Osaic Holdings, Inc., 8.00%, 8/1/33<sup>(1)</sup> | 700000 | 726073 |
|  |  | 37196673 |
| **Chemicals — 3.2%** |  |  |
| ASP Unifrax Holdings, Inc., 5.85% Cash plus 1.25% PIK, 9/30/29<sup>(1)</sup> | 362262 | 144539 |
| Avient Corp., 7.125%, 8/1/30<sup>(1)</sup> | 1600000 | 1645541 |
| Avient Corp., 6.25%, 11/1/31<sup>(1)</sup> | 900000 | 914646 |
| Axalta Coating Systems Dutch Holding B BV, 7.25%, 2/15/31<sup>(1)</sup> | 300000 | 314241 |
| Calderys Financing II LLC, 11.75% Cash or 12.50% PIK, 6/1/28<sup>(1)</sup> | 600000 | 627047 |
| Celanese U.S. Holdings LLC, 6.83%, 7/15/29 | 800000 | 826791 |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30 | 250000 | 251841 |
| Celanese U.S. Holdings LLC, 7.05%, 11/15/30 | 750000 | 774767 |
| Celanese U.S. Holdings LLC, 6.88%, 7/15/32 | 3896000 | 3983761 |
| Celanese U.S. Holdings LLC, 7.20%, 11/15/33 | 3875000 | 4030979 |
| Chemours Co., 5.375%, 5/15/27 | 1625000 | 1624990 |
| Chemours Co., 5.75%, 11/15/28<sup>(1)</sup> | 2540000 | 2479801 |
| Chemours Co., 4.625%, 11/15/29<sup>(1)</sup> | 1800000 | 1627771 |
| Chemours Co., 8.00%, 1/15/33<sup>(1)</sup> | 1400000 | 1393559 |
| Consolidated Energy Finance SA, 6.50%, 5/15/26<sup>(1)</sup> | 550000 | 535717 |
| Consolidated Energy Finance SA, 5.625%, 10/15/28<sup>(1)</sup> | 625000 | 523745 |
| FMC Corp., VRN, 8.45%, 11/1/55 | 900000 | 951092 |
| FXI Holdings, Inc., 12.25%, 11/15/26<sup>(1)</sup> | 3195000 | 2819268 |
| FXI Holdings, Inc., 12.25%, 11/15/26<sup>(1)</sup> | 1117000 | 981799 |
| Herens Holdco SARL, 4.75%, 5/15/28<sup>(1)</sup> | 1000000 | 876949 |
| INEOS Finance PLC, 6.75%, 5/15/28<sup>(1)</sup> | 800000 | 785427 |
| Innophos Holdings, Inc., 11.50%, 6/15/29<sup>(1)</sup> | 2075000 | 2044837 |
| Mativ Holdings, Inc., 8.00%, 10/1/29<sup>(1)</sup> | 800000 | 793047 |
| Methanex Corp., 5.125%, 10/15/27 | 750000 | 751442 |
| Methanex U.S. Operations, Inc., 6.25%, 3/15/32<sup>(1)</sup> | 350000 | 356362 |
| NOVA Chemicals Corp., 5.25%, 6/1/27<sup>(1)</sup> | 800000 | 802963 |
| NOVA Chemicals Corp., 8.50%, 11/15/28<sup>(1)</sup> | 2025000 | 2121708 |
| NOVA Chemicals Corp., 4.25%, 5/15/29<sup>(1)</sup> | 675000 | 653798 |
| NOVA Chemicals Corp., 9.00%, 2/15/30<sup>(1)</sup> | 1800000 | 1932111 |
| NOVA Chemicals Corp., 7.00%, 12/1/31<sup>(1)</sup> | 1200000 | 1265320 |
| Olin Corp., 5.625%, 8/1/29 | 1775000 | 1781805 |
| Olin Corp., 6.625%, 4/1/33<sup>(1)</sup> | 1625000 | 1635413 |
| Olympus Water U.S. Holding Corp., 7.125%, 10/1/27<sup>(1)</sup> | 900000 | 916535 |
| Olympus Water U.S. Holding Corp., 4.25%, 10/1/28<sup>(1)</sup> | 500000 | 481245 |
| Olympus Water U.S. Holding Corp., 9.75%, 11/15/28<sup>(1)</sup> | 2000000 | 2100250 |
| Olympus Water U.S. Holding Corp., 6.25%, 10/1/29<sup>(1)</sup> | 2850000 | 2769761 |
| SCIH Salt Holdings, Inc., 4.875%, 5/1/28<sup>(1)</sup> | 850000 | 831307 |
| SCIH Salt Holdings, Inc., 6.625%, 5/1/29<sup>(1)</sup> | 1850000 | 1815386 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| SCIL IV LLC/SCIL USA Holdings LLC, 5.375%, 11/1/26<sup>(1)</sup> | $1450000 | $1450034 |
| Scotts Miracle-Gro Co., 4.00%, 4/1/31 | 2150000 | 1991438 |
| Solstice Advanced Materials, Inc., 5.625%, 9/30/33<sup>(1)</sup> | 650000 | 652554 |
| Trinseo Luxco Finance SPV SARL/Trinseo NA Finance SPV LLC, 5.13% Cash plus 2.50% PIK, 5/3/29<sup>(1)</sup> | 1787958 | 688364 |
| Tronox, Inc., 4.625%, 3/15/29<sup>(1)</sup> | 2175000 | 1420866 |
| Tronox, Inc., 9.125%, 9/30/30<sup>(1)</sup> | 175000 | 171561 |
| WR Grace Holdings LLC, 4.875%, 6/15/27<sup>(1)</sup> | 545000 | 542301 |
| WR Grace Holdings LLC, 5.625%, 8/15/29<sup>(1)</sup> | 2325000 | 2162919 |
| WR Grace Holdings LLC, 7.375%, 3/1/31<sup>(1)</sup> | 600000 | 612371 |
| WR Grace Holdings LLC, 6.625%, 8/15/32<sup>(1)</sup> | 375000 | 371027 |
|  |  | 61230996 |
| **Commercial Services and Supplies — 3.0%** |  |  |
| ADT Security Corp., 4.125%, 8/1/29<sup>(1)</sup> | 2175000 | 2106251 |
| ADT Security Corp., 4.875%, 7/15/32<sup>(1)</sup> | 850000 | 824280 |
| ADT Security Corp., 5.875%, 10/15/33<sup>(1)(2)</sup> | 1575000 | 1575000 |
| Allied Universal Holdco LLC, 7.875%, 2/15/31<sup>(1)</sup> | 4075000 | 4276186 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29<sup>(1)</sup> | 7672000 | 7548933 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.625%, 6/1/28<sup>(1)</sup> | 1400000 | 1373452 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.625%, 6/1/28<sup>(1)</sup> | 1100000 | 1079604 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(1)</sup> | 1300000 | 1318121 |
| Brink's Co., 6.50%, 6/15/29<sup>(1)</sup> | 1550000 | 1596460 |
| Brink's Co., 6.75%, 6/15/32<sup>(1)</sup> | 750000 | 780769 |
| Champions Financing, Inc., 8.75%, 2/15/29<sup>(1)</sup> | 275000 | 265815 |
| Clean Harbors, Inc., 5.75%, 10/15/33<sup>(1)(2)</sup> | 775000 | 782382 |
| Clean Harbors, Inc., 6.375%, 2/1/31<sup>(1)</sup> | 350000 | 358715 |
| Garda World Security Corp., 4.625%, 2/15/27<sup>(1)</sup> | 250000 | 248328 |
| Garda World Security Corp., 7.75%, 2/15/28<sup>(1)</sup> | 550000 | 564277 |
| Garda World Security Corp., 6.00%, 6/1/29<sup>(1)</sup> | 3525000 | 3498048 |
| Garda World Security Corp., 8.25%, 8/1/32<sup>(1)</sup> | 700000 | 726252 |
| GEO Group, Inc., 8.625%, 4/15/29 | 1400000 | 1483097 |
| GEO Group, Inc., 10.25%, 4/15/31 | 1950000 | 2146839 |
| GFL Environmental, Inc., 6.75%, 1/15/31<sup>(1)</sup> | 800000 | 838136 |
| GrafTech Global Enterprises, Inc., 9.875%, 12/23/29<sup>(1)</sup> | 1225000 | 1050437 |
| Hightower Holding LLC, 9.125%, 1/31/30<sup>(1)</sup> | 700000 | 745937 |
| Madison IAQ LLC, 5.875%, 6/30/29<sup>(1)</sup> | 475000 | 469666 |
| Mavis Tire Express Services Topco Corp., 6.50%, 5/15/29<sup>(1)</sup> | 3400000 | 3386513 |
| Neptune Bidco U.S., Inc., 9.29%, 4/15/29<sup>(1)</sup> | 3725000 | 3660185 |
| Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28<sup>(1)</sup> | 575000 | 575322 |
| Raven Acquisition Holdings LLC, 6.875%, 11/15/31<sup>(1)</sup> | 3825000 | 3940393 |
| Reworld Holding Corp., 5.00%, 9/1/30 | 950000 | 912830 |
| RR Donnelley & Sons Co., 9.50%, 8/1/29<sup>(1)</sup> | 1825000 | 1872067 |
| RR Donnelley & Sons Co., 10.875%, 8/1/29<sup>(1)</sup> | 1000000 | 998297 |
| RRD Intermediate Holdings, Inc., 11.00% Cash or 12.00% PIK, 12/1/30<sup>(1)</sup> | 1377733 | 1342656 |
| Waste Pro USA, Inc., 7.00%, 2/1/33<sup>(1)</sup> | 1375000 | 1427658 |
| Williams Scotsman, Inc., 4.625%, 8/15/28<sup>(1)</sup> | 1050000 | 1033299 |
| Williams Scotsman, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 1550000 | 1586851 |
| Williams Scotsman, Inc., 6.625%, 4/15/30<sup>(1)</sup> | 575000 | 592382 |
|  |  | 56985438 |
| **Communications Equipment — 0.5%** |  |  |
| CommScope LLC, 8.25%, 3/1/27<sup>(1)</sup> | 2525000 | 2554743 |
| CommScope LLC, 7.125%, 7/1/28<sup>(1)</sup> | 1400000 | 1406335 |
| CommScope LLC, 4.75%, 9/1/29<sup>(1)</sup> | 761000 | 757066 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| CommScope Technologies LLC, 5.00%, 3/15/27<sup>(1)</sup> | $2160000 | $2144883 |
| Nokia of America Corp., 6.45%, 3/15/29 | 1383000 | 1413426 |
| Viasat, Inc., 6.50%, 7/15/28<sup>(1)</sup> | 575000 | 562497 |
| Viasat, Inc., 7.50%, 5/30/31<sup>(1)</sup> | 675000 | 634264 |
|  |  | 9473214 |
| **Construction and Engineering — 0.6%** |  |  |
| AECOM, 6.00%, 8/1/33<sup>(1)</sup> | 400000 | 409284 |
| Brand Industrial Services, Inc., 10.375%, 8/1/30<sup>(1)</sup> | 1650000 | 1646804 |
| Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 2/1/32<sup>(1)</sup> | 775000 | 783685 |
| Howard Midstream Energy Partners LLC, 7.375%, 7/15/32<sup>(1)</sup> | 1750000 | 1817891 |
| Howard Midstream Energy Partners LLC, 6.625%, 1/15/34<sup>(1)</sup> | 1150000 | 1173231 |
| New Enterprise Stone & Lime Co., Inc., 5.25%, 7/15/28<sup>(1)</sup> | 1075000 | 1065982 |
| New Enterprise Stone & Lime Co., Inc., 9.75%, 7/15/28<sup>(1)</sup> | 2100000 | 2113995 |
| Pike Corp., 8.625%, 1/31/31<sup>(1)</sup> | 575000 | 617548 |
| Weekley Homes LLC/Weekley Finance Corp., 4.875%, 9/15/28<sup>(1)</sup> | 1675000 | 1641561 |
|  |  | 11269981 |
| **Construction Materials — 0.5%** |  |  |
| Knife River Corp., 7.75%, 5/1/31<sup>(1)</sup> | 600000 | 630481 |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 2950000 | 3058041 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 1425000 | 1482639 |
| Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28<sup>(1)</sup> | 3225000 | 3228702 |
| Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/31<sup>(1)</sup> | 600000 | 634160 |
|  |  | 9034023 |
| **Consumer Finance — 3.4%** |  |  |
| Acuris Finance U.S., Inc./Acuris Finance SARL, 5.00%, 5/1/28<sup>(1)</sup> | 675000 | 658065 |
| Ally Financial, Inc., 6.70%, 2/14/33 | 1075000 | 1120394 |
| Azorra Finance Ltd., 7.75%, 4/15/30<sup>(1)</sup> | 1575000 | 1662285 |
| Azorra Finance Ltd., 7.25%, 1/15/31<sup>(1)</sup> | 1275000 | 1330834 |
| Bread Financial Holdings, Inc., 9.75%, 3/15/29<sup>(1)</sup> | 1275000 | 1361912 |
| Bread Financial Holdings, Inc., VRN, 8.375%, 6/15/35<sup>(1)</sup> | 800000 | 822139 |
| Encore Capital Group, Inc., 9.25%, 4/1/29<sup>(1)</sup> | 400000 | 422564 |
| Encore Capital Group, Inc., 8.50%, 5/15/30<sup>(1)</sup> | 200000 | 212559 |
| FirstCash, Inc., 4.625%, 9/1/28<sup>(1)</sup> | 1225000 | 1202085 |
| FirstCash, Inc., 5.625%, 1/1/30<sup>(1)</sup> | 575000 | 574643 |
| FirstCash, Inc., 6.875%, 3/1/32<sup>(1)</sup> | 950000 | 983115 |
| GGAM Finance Ltd., 6.875%, 4/15/29<sup>(1)</sup> | 575000 | 597719 |
| GGAM Finance Ltd., 5.875%, 3/15/30<sup>(1)</sup> | 1325000 | 1344870 |
| goeasy Ltd., 9.25%, 12/1/28<sup>(1)</sup> | 400000 | 417754 |
| goeasy Ltd., 7.625%, 7/1/29<sup>(1)</sup> | 1225000 | 1242352 |
| goeasy Ltd., 6.875%, 5/15/30<sup>(1)</sup> | 1300000 | 1294487 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)</sup> | 1400000 | 1357271 |
| ION Trading Technologies SARL, 9.50%, 5/30/29<sup>(1)</sup> | 600000 | 636704 |
| LFS Topco LLC, 8.75%, 7/15/30<sup>(1)</sup> | 3150000 | 3167012 |
| Navient Corp., 6.75%, 6/15/26 | 498000 | 504072 |
| Navient Corp., 4.875%, 3/15/28 | 375000 | 367961 |
| Navient Corp., 5.50%, 3/15/29 | 2825000 | 2771608 |
| Navient Corp., 9.375%, 7/25/30 | 1725000 | 1907986 |
| Navient Corp., 11.50%, 3/15/31 | 1175000 | 1326328 |
| OneMain Finance Corp., 6.625%, 1/15/28 | 2290000 | 2346874 |
| OneMain Finance Corp., 3.875%, 9/15/28 | 400000 | 384765 |
| OneMain Finance Corp., 6.625%, 5/15/29 | 925000 | 951937 |
| OneMain Finance Corp., 5.375%, 11/15/29 | 750000 | 742120 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| OneMain Finance Corp., 7.875%, 3/15/30 | $3550000 | $3759273 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 1450000 | 1469495 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 1925000 | 2014015 |
| OneMain Finance Corp., 4.00%, 9/15/30 | 825000 | 767569 |
| OneMain Finance Corp., 7.125%, 11/15/31 | 1963000 | 2037119 |
| OneMain Finance Corp., 6.75%, 3/15/32 | 3075000 | 3135796 |
| OneMain Finance Corp., 7.125%, 9/15/32 | 1000000 | 1034288 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 1875000 | 1880306 |
| PRA Group, Inc., 8.375%, 2/1/28<sup>(1)</sup> | 1500000 | 1535414 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 1025000 | 1059018 |
| Rfna LP, 7.875%, 2/15/30<sup>(1)</sup> | 2700000 | 2753310 |
| SLM Corp., 3.125%, 11/2/26 | 2225000 | 2181602 |
| SLM Corp., 6.50%, 1/31/30 | 325000 | 338934 |
| Synchrony Financial, 7.25%, 2/2/33 | 1125000 | 1201054 |
| TrueNoord Capital DAC, 8.75%, 3/1/30<sup>(1)</sup> | 1325000 | 1409110 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 7.875%, 5/1/27<sup>(1)</sup> | 3275000 | 3328949 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 9.50%, 6/1/28<sup>(1)</sup> | 975000 | 1015920 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 6.375%, 2/1/30<sup>(1)</sup> | 1875000 | 1829125 |
|  |  | 64462712 |
| **Consumer Staples Distribution & Retail — 0.8%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 1550000 | 1542445 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.875%, 2/15/28<sup>(1)</sup> | 750000 | 750873 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.50%, 2/15/28<sup>(1)</sup> | 2225000 | 2262713 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 3.50%, 3/15/29<sup>(1)</sup> | 325000 | 308451 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.875%, 2/15/30<sup>(1)</sup> | 2325000 | 2287127 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.25%, 3/15/33<sup>(1)</sup> | 550000 | 563321 |
| Ingles Markets, Inc., 4.00%, 6/15/31<sup>(1)</sup> | 1950000 | 1834502 |
| Kroger Co., 5.00%, 9/15/34 | 1725000 | 1740564 |
| Kroger Co., 5.50%, 9/15/54 | 1150000 | 1121824 |
| Kroger Co., 5.65%, 9/15/64 | 1425000 | 1391064 |
| Rite Aid Corp., 11.32% PIK, (3-month SOFR plus 7.00%), 8/30/31<sup>(1)(3)(4)</sup> | 74345 | 5483 |
| Rite Aid Corp., 15.00% PIK, 8/30/31<sup>(3)(4)</sup> | 221314 | 2490 |
| Rite Aid Corp., 15.00% PIK, 8/30/31<sup>(3)(4)</sup> | 161111 | 1813 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(1)</sup> | 700000 | 702114 |
|  |  | 14514784 |
| **Containers and Packaging — 1.5%** |  |  |
| ARD Finance SA, 6.50% Cash or 7.25% PIK, 6/30/27<sup>(1)</sup> | 4485950 | 134578 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 6.00%, 6/15/27<sup>(1)</sup> | 2000000 | 2001208 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.125%, 8/15/26<sup>(1)</sup> | 800000 | 771960 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 8/15/27<sup>(1)</sup> | 3000000 | 1156920 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 8/15/27<sup>(1)</sup> | 570000 | 219815 |
| Ball Corp., 3.125%, 9/15/31 | 750000 | 681434 |
| Clydesdale Acquisition Holdings, Inc., 6.875%, 1/15/30<sup>(1)</sup> | 500000 | 513530 |
| Clydesdale Acquisition Holdings, Inc., 8.75%, 4/15/30<sup>(1)</sup> | 675000 | 694030 |
| Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/32<sup>(1)</sup> | 2650000 | 2720477 |
| LABL, Inc., 5.875%, 11/1/28<sup>(1)</sup> | 600000 | 466008 |
| Mauser Packaging Solutions Holding Co., 7.875%, 4/15/27<sup>(1)</sup> | 500000 | 505526 |
| Mauser Packaging Solutions Holding Co., 9.25%, 4/15/27<sup>(1)</sup> | 425000 | 426332 |
| OI European Group BV, 4.75%, 2/15/30<sup>(1)</sup> | 2550000 | 2435770 |
| Owens-Brockway Glass Container, Inc., 6.625%, 5/13/27<sup>(1)</sup> | 2906000 | 2903094 |
| Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31<sup>(1)</sup> | 1775000 | 1809126 |
| Owens-Brockway Glass Container, Inc., 7.375%, 6/1/32<sup>(1)</sup> | 1100000 | 1112024 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Sealed Air Corp., 4.00%, 12/1/27<sup>(1)</sup> | $689000 | $676754 |
| Sealed Air Corp., 5.00%, 4/15/29<sup>(1)</sup> | 1900000 | 1890948 |
| Sealed Air Corp., 6.50%, 7/15/32<sup>(1)</sup> | 475000 | 492346 |
| Sealed Air Corp./Sealed Air Corp. U.S., 7.25%, 2/15/31<sup>(1)</sup> | 725000 | 761662 |
| TriMas Corp., 4.125%, 4/15/29<sup>(1)</sup> | 1275000 | 1237086 |
| Trivium Packaging Finance BV, 8.25%, 7/15/30<sup>(1)</sup> | 1900000 | 2028438 |
| Trivium Packaging Finance BV, 12.25%, 1/15/31<sup>(1)</sup> | 2250000 | 2437393 |
|  |  | 28076459 |
| **Distributors — 0.3%** |  |  |
| Performance Food Group, Inc., 5.50%, 10/15/27<sup>(1)</sup> | 650000 | 649127 |
| Performance Food Group, Inc., 4.25%, 8/1/29<sup>(1)</sup> | 1475000 | 1434395 |
| Performance Food Group, Inc., 6.125%, 9/15/32<sup>(1)</sup> | 1200000 | 1230673 |
| RB Global Holdings, Inc., 7.75%, 3/15/31<sup>(1)</sup> | 775000 | 811544 |
| Windsor Holdings III LLC, 8.50%, 6/15/30<sup>(1)</sup> | 900000 | 952523 |
|  |  | 5078262 |
| **Diversified Consumer Services — 0.4%** |  |  |
| Adtalem Global Education, Inc., 5.50%, 3/1/28<sup>(1)</sup> | 1408000 | 1404529 |
| Carriage Services, Inc., 4.25%, 5/15/29<sup>(1)</sup> | 1250000 | 1185348 |
| Matthews International Corp., 8.625%, 10/1/27<sup>(1)</sup> | 1025000 | 1060051 |
| Service Corp. International, 4.00%, 5/15/31 | 2825000 | 2665497 |
| Service Corp. International, 5.75%, 10/15/32 | 1600000 | 1622925 |
|  |  | 7938350 |
| **Diversified REITs — 2.1%** |  |  |
| Brandywine Operating Partnership LP, 6.125%, 1/15/31<sup>(2)</sup> | 650000 | 649350 |
| Iron Mountain Information Management Services, Inc., 5.00%, 7/15/32<sup>(1)</sup> | 5950000 | 5738275 |
| MPT Operating Partnership LP/MPT Finance Corp., 5.00%, 10/15/27 | 3875000 | 3757617 |
| MPT Operating Partnership LP/MPT Finance Corp., 4.625%, 8/1/29 | 1550000 | 1294776 |
| MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 | 725000 | 533850 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(1)</sup> | 2500000 | 2658317 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 5.875%, 10/1/28<sup>(1)</sup> | 1050000 | 1048894 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.875%, 5/15/29<sup>(1)</sup> | 1550000 | 1512477 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 7.00%, 2/1/30<sup>(1)</sup> | 1125000 | 1160656 |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.375%, 10/15/29<sup>(1)</sup> | 750000 | 761808 |
| Prologis LP, 5.25%, 6/15/53 | 663000 | 641879 |
| Prologis LP, 5.25%, 3/15/54 | 725000 | 702412 |
| RHP Hotel Properties LP/RHP Finance Corp., 7.25%, 7/15/28<sup>(1)</sup> | 375000 | 387139 |
| RHP Hotel Properties LP/RHP Finance Corp., 4.50%, 2/15/29<sup>(1)</sup> | 950000 | 932476 |
| RHP Hotel Properties LP/RHP Finance Corp., 6.50%, 4/1/32<sup>(1)</sup> | 1625000 | 1671857 |
| RHP Hotel Properties LP/RHP Finance Corp., 6.50%, 6/15/33<sup>(1)</sup> | 725000 | 747160 |
| RLJ Lodging Trust LP, 3.75%, 7/1/26<sup>(1)</sup> | 600000 | 594433 |
| RLJ Lodging Trust LP, 4.00%, 9/15/29<sup>(1)</sup> | 2675000 | 2528221 |
| Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 1/15/30<sup>(1)</sup> | 3169000 | 2872257 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 4.75%, 4/15/28<sup>(1)</sup> | 1250000 | 1225131 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 6.50%, 2/15/29<sup>(1)</sup> | 2750000 | 2585055 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 8.625%, 6/15/32<sup>(1)</sup> | 3550000 | 3393719 |
| XHR LP, 4.875%, 6/1/29<sup>(1)</sup> | 1075000 | 1053729 |
| XHR LP, 6.625%, 5/15/30<sup>(1)</sup> | 750000 | 771542 |
|  |  | 39223030 |
| **Diversified Telecommunication Services — 3.2%** |  |  |
| Altice France Holding SA, 10.50%, 5/15/27<sup>(1)(3)(4)</sup> | 3175000 | 1151502 |
| Altice France Holding SA, 6.00%, 2/15/28<sup>(1)(3)(4)</sup> | 4050000 | 1466876 |
| Altice France SA, 8.125%, 2/1/27<sup>(1)(3)(4)</sup> | 3250000 | 3109324 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Altice France SA, 5.50%, 1/15/28<sup>(1)(3)</sup> | $1600000 | $1416000 |
| Altice France SA, 5.125%, 1/15/29<sup>(1)(3)(4)</sup> | 1425000 | 1226391 |
| Altice France SA, 5.125%, 7/15/29<sup>(1)(3)</sup> | 3325000 | 2856341 |
| Altice France SA, 5.50%, 10/15/29<sup>(1)(3)</sup> | 4900000 | 4262688 |
| AT&T, Inc., 3.55%, 9/15/55 | 1275000 | 879318 |
| Cogent Communications Group LLC/Cogent Finance, Inc., 7.00%, 6/15/27<sup>(1)</sup> | 875000 | 873415 |
| Cogent Communications Group LLC/Cogent Finance, Inc., 7.00%, 6/15/27<sup>(1)</sup> | 775000 | 773588 |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29<sup>(1)</sup> | 2000000 | 2105310 |
| Embarq LLC, 8.00%, 6/1/36 | 1740000 | 871079 |
| Fibercop SpA, 6.375%, 11/15/33<sup>(1)</sup> | 1262000 | 1258817 |
| Fibercop SpA, 6.00%, 9/30/34<sup>(1)</sup> | 1709000 | 1637498 |
| Frontier Communications Holdings LLC, 5.875%, 10/15/27<sup>(1)</sup> | 425000 | 425056 |
| Frontier Communications Holdings LLC, 5.00%, 5/1/28<sup>(1)</sup> | 2150000 | 2146970 |
| Frontier Communications Holdings LLC, 6.75%, 5/1/29<sup>(1)</sup> | 2900000 | 2931363 |
| Frontier Communications Holdings LLC, 5.875%, 11/1/29 | 2135398 | 2159715 |
| Frontier Communications Holdings LLC, 6.00%, 1/15/30<sup>(1)</sup> | 1950000 | 1974644 |
| Frontier Communications Holdings LLC, 8.75%, 5/15/30<sup>(1)</sup> | 525000 | 548867 |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> | 1150000 | 1213355 |
| Frontier North, Inc., 6.73%, 2/15/28 | 700000 | 720563 |
| Hughes Satellite Systems Corp., 6.625%, 8/1/26 | 975000 | 928123 |
| Level 3 Financing, Inc., 4.25%, 7/1/28<sup>(1)</sup> | 1325000 | 1245476 |
| Level 3 Financing, Inc., 4.875%, 6/15/29<sup>(1)</sup> | 1900000 | 1795690 |
| Level 3 Financing, Inc., 3.75%, 7/15/29<sup>(1)</sup> | 1100000 | 943171 |
| Level 3 Financing, Inc., 4.50%, 4/1/30<sup>(1)</sup> | 1746000 | 1604138 |
| Level 3 Financing, Inc., 3.875%, 10/15/30<sup>(1)</sup> | 475000 | 417094 |
| Level 3 Financing, Inc., 4.00%, 4/15/31<sup>(1)</sup> | 525000 | 453999 |
| Level 3 Financing, Inc., 6.875%, 6/30/33<sup>(1)</sup> | 575000 | 586509 |
| Level 3 Financing, Inc., 7.00%, 3/31/34<sup>(1)</sup> | 1800000 | 1832542 |
| Lumen Technologies, Inc., 6.875%, 1/15/28 | 425000 | 424190 |
| Lumen Technologies, Inc., 4.50%, 1/15/29<sup>(1)</sup> | 1750000 | 1597572 |
| Lumen Technologies, Inc., 4.125%, 4/15/29<sup>(1)</sup> | 1025403 | 1010514 |
| Lumen Technologies, Inc., 5.375%, 6/15/29<sup>(1)</sup> | 1150000 | 1054890 |
| Lumen Technologies, Inc., 4.125%, 4/15/30<sup>(1)</sup> | 328001 | 323081 |
| Lumen Technologies, Inc., 10.00%, 10/15/32<sup>(1)</sup> | 125000 | 126614 |
| Sable International Finance Ltd., 7.125%, 10/15/32<sup>(1)</sup> | 1200000 | 1219402 |
| Telesat Canada/Telesat LLC, 5.625%, 12/6/26<sup>(1)</sup> | 1550000 | 1247750 |
| Telesat Canada/Telesat LLC, 4.875%, 6/1/27<sup>(1)</sup> | 500000 | 385000 |
| Telesat Canada/Telesat LLC, 6.50%, 10/15/27<sup>(1)</sup> | 800000 | 398000 |
| Windstream Services LLC, 7.50%, 10/15/33<sup>(1)(2)</sup> | 550000 | 550195 |
| Windstream Services LLC/Windstream Escrow Finance Corp., 8.25%, 10/1/31<sup>(1)</sup> | 4425000 | 4587182 |
| Zayo Group Holdings, Inc., 7.125% Cash plus 1.875% PIK, 9/9/30<sup>(1)</sup> | 726679 | 689436 |
| Zayo Group Holdings, Inc., 5.75% Cash plus 0.50% PIK, 3/9/30<sup>(1)</sup> | 2529420 | 2425082 |
|  |  | 61854330 |
| **Electric Utilities — 2.5%** |  |  |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(1)</sup> | 2625000 | 2711626 |
| American Electric Power Co., Inc., VRN, 6.95%, 12/15/54 | 800000 | 867802 |
| American Electric Power Co., Inc., VRN, 7.05%, 12/15/54 | 875000 | 918826 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC, 6.375%, 2/15/32<sup>(1)</sup> | 1350000 | 1384629 |
| ContourGlobal Power Holdings SA, 6.75%, 2/28/30<sup>(1)</sup> | 1600000 | 1663984 |
| Edison International, VRN, 7.875%, 6/15/54 | 1025000 | 1045903 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 575000 | 580357 |
| NRG Energy, Inc., 5.75%, 1/15/28 | 175000 | 175503 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| NRG Energy, Inc., 5.25%, 6/15/29<sup>(1)</sup> | $1767000 | $1762623 |
| NRG Energy, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 2695000 | 2711699 |
| NRG Energy, Inc., 3.625%, 2/15/31<sup>(1)</sup> | 1060000 | 980881 |
| NRG Energy, Inc., 3.875%, 2/15/32<sup>(1)</sup> | 650000 | 599472 |
| NRG Energy, Inc., 6.00%, 2/1/33<sup>(1)</sup> | 3425000 | 3480917 |
| NRG Energy, Inc., 7.00%, 3/15/33<sup>(1)</sup> | 850000 | 940375 |
| NRG Energy, Inc., 5.75%, 1/15/34<sup>(1)(2)</sup> | 2150000 | 2149149 |
| NRG Energy, Inc., 6.25%, 11/1/34<sup>(1)</sup> | 1300000 | 1333431 |
| NRG Energy, Inc., 6.00%, 1/15/36<sup>(1)(2)</sup> | 2675000 | 2677056 |
| PG&E Corp., 5.00%, 7/1/28 | 2250000 | 2230884 |
| PG&E Corp., VRN, 7.375%, 3/15/55 | 3250000 | 3344673 |
| Talen Energy Supply LLC, 8.625%, 6/1/30<sup>(1)</sup> | 2175000 | 2310250 |
| Vistra Operations Co. LLC, 5.50%, 9/1/26<sup>(1)</sup> | 2405000 | 2404928 |
| Vistra Operations Co. LLC, 5.625%, 2/15/27<sup>(1)</sup> | 4858000 | 4864591 |
| Vistra Operations Co. LLC, 5.00%, 7/31/27<sup>(1)</sup> | 850000 | 847825 |
| Vistra Operations Co. LLC, 7.75%, 10/15/31<sup>(1)</sup> | 2925000 | 3097332 |
| Vistra Operations Co. LLC, 6.875%, 4/15/32<sup>(1)</sup> | 2750000 | 2878169 |
| XPLR Infrastructure Operating Partners LP, 8.625%, 3/15/33<sup>(1)</sup> | 425000 | 446014 |
|  |  | 48408899 |
| **Electronic Equipment, Instruments and Components — 1.2%** |  |  |
| Coherent Corp., 5.00%, 12/15/29<sup>(1)</sup> | 3700000 | 3653302 |
| EquipmentShare.com, Inc., 8.625%, 5/15/32<sup>(1)</sup> | 2000000 | 2161788 |
| EquipmentShare.com, Inc., 8.00%, 3/15/33<sup>(1)</sup> | 1471000 | 1573451 |
| Imola Merger Corp., 4.75%, 5/15/29<sup>(1)</sup> | 7065000 | 6877774 |
| Insight Enterprises, Inc., 6.625%, 5/15/32<sup>(1)</sup> | 700000 | 718529 |
| Sensata Technologies BV, 4.00%, 4/15/29<sup>(1)</sup> | 3250000 | 3122802 |
| Sensata Technologies BV, 5.875%, 9/1/30<sup>(1)</sup> | 1000000 | 1009611 |
| Sensata Technologies, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 375000 | 346419 |
| Sensata Technologies, Inc., 6.625%, 7/15/32<sup>(1)</sup> | 600000 | 621572 |
| TTM Technologies, Inc., 4.00%, 3/1/29<sup>(1)</sup> | 1675000 | 1612407 |
| Zebra Technologies Corp., 6.50%, 6/1/32<sup>(1)</sup> | 1325000 | 1361949 |
|  |  | 23059604 |
| **Energy Equipment and Services — 2.9%** |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp., 6.875%, 4/1/27<sup>(1)</sup> | 315000 | 315246 |
| Archrock Partners LP/Archrock Partners Finance Corp., 6.25%, 4/1/28<sup>(1)</sup> | 2425000 | 2430136 |
| Borr IHC Ltd./Borr Finance LLC, 10.00%, 11/15/28<sup>(1)</sup> | 1112805 | 1108096 |
| Borr IHC Ltd./Borr Finance LLC, 10.375%, 11/15/30<sup>(1)</sup> | 741748 | 743641 |
| Bristow Group, Inc., 6.875%, 3/1/28<sup>(1)</sup> | 1250000 | 1257769 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> | 1440000 | 1471213 |
| Global Marine, Inc., 7.00%, 6/1/28 | 2918000 | 2837755 |
| Helix Energy Solutions Group, Inc., 9.75%, 3/1/29<sup>(1)</sup> | 1825000 | 1929797 |
| Kodiak Gas Services LLC, 7.25%, 2/15/29<sup>(1)</sup> | 1275000 | 1323941 |
| Kodiak Gas Services LLC, 6.50%, 10/1/33<sup>(1)</sup> | 400000 | 407520 |
| Nabors Industries Ltd., 7.50%, 1/15/28<sup>(1)</sup> | 3250000 | 3250093 |
| Nabors Industries, Inc., 9.125%, 1/31/30<sup>(1)</sup> | 221000 | 230008 |
| Nabors Industries, Inc., 8.875%, 8/15/31<sup>(1)</sup> | 950000 | 885466 |
| Nine Energy Service, Inc., 13.00%, 2/1/28 | 1725000 | 869866 |
| Noble Finance II LLC, 8.00%, 4/15/30<sup>(1)</sup> | 2425000 | 2511825 |
| Precision Drilling Corp., 6.875%, 1/15/29<sup>(1)</sup> | 1700000 | 1710399 |
| Seadrill Finance Ltd., 8.375%, 8/1/30<sup>(1)</sup> | 550000 | 571458 |
| SESI LLC, 7.875%, 9/30/30<sup>(1)(2)</sup> | 550000 | 550688 |
| Star Holding LLC, 8.75%, 8/1/31<sup>(1)</sup> | 1000000 | 993454 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Transocean Aquila Ltd., 8.00%, 9/30/28<sup>(1)</sup> | $650769 | $669886 |
| Transocean International Ltd., 8.00%, 2/1/27<sup>(1)</sup> | 1875000 | 1873828 |
| Transocean International Ltd., 8.25%, 5/15/29<sup>(1)</sup> | 1300000 | 1282705 |
| Transocean International Ltd., 8.75%, 2/15/30<sup>(1)</sup> | 449062 | 472834 |
| Transocean International Ltd., 7.50%, 4/15/31 | 1600000 | 1486087 |
| Transocean International Ltd., 8.50%, 5/15/31<sup>(1)</sup> | 1700000 | 1667293 |
| Transocean International Ltd., 7.875%, 10/15/32<sup>(1)(2)</sup> | 525000 | 525000 |
| Transocean International Ltd., 6.80%, 3/15/38 | 5275000 | 4471480 |
| Transocean International Ltd., 9.35%, 12/15/41 | 1125000 | 1060695 |
| Transocean Poseidon Ltd., 6.875%, 2/1/27<sup>(1)</sup> | 213750 | 214179 |
| Transocean Titan Financing Ltd., 8.375%, 2/1/28<sup>(1)</sup> | 809524 | 831625 |
| USA Compression Partners LP/USA Compression Finance Corp., 7.125%, 3/15/29<sup>(1)</sup> | 1800000 | 1857643 |
| USA Compression Partners LP/USA Compression Finance Corp., 6.25%, 10/1/33<sup>(1)</sup> | 1125000 | 1130007 |
| Valaris Ltd., 8.375%, 4/30/30<sup>(1)</sup> | 2275000 | 2362700 |
| WBI Operating LLC, 6.25%, 10/15/30<sup>(1)(2)</sup> | 1175000 | 1175000 |
| Weatherford International Ltd., 8.625%, 4/30/30<sup>(1)</sup> | 6946000 | 7105452 |
| Weatherford International Ltd., 6.75%, 10/15/33<sup>(1)(2)</sup> | 925000 | 926222 |
|  |  | 54511007 |
| **Entertainment — 1.1%** |  |  |
| Allen Media LLC/Allen Media Co-Issuer, Inc., 10.50%, 2/15/28<sup>(1)</sup> | 400000 | 181000 |
| AMC Entertainment Holdings, Inc., 7.50%, 2/15/29<sup>(1)</sup> | 2769000 | 2397372 |
| Cinemark USA, Inc., 5.25%, 7/15/28<sup>(1)</sup> | 875000 | 870933 |
| Cinemark USA, Inc., 7.00%, 8/1/32<sup>(1)</sup> | 875000 | 910173 |
| Live Nation Entertainment, Inc., 5.625%, 3/15/26<sup>(1)</sup> | 1025000 | 1025879 |
| Live Nation Entertainment, Inc., 4.75%, 10/15/27<sup>(1)</sup> | 2475000 | 2460344 |
| Live Nation Entertainment, Inc., 3.75%, 1/15/28<sup>(1)</sup> | 925000 | 904795 |
| Muvico LLC, 9.00% Cash plus 6.00% PIK, 2/19/29<sup>(1)</sup> | 2675000 | 2903325 |
| Playtika Holding Corp., 4.25%, 3/15/29<sup>(1)</sup> | 2025000 | 1861046 |
| Starz Capital Holdings LLC, 5.50%, 4/15/29<sup>(1)</sup> | 250000 | 205227 |
| Warnermedia Holdings, Inc., 4.05%, 3/15/29 | 1475000 | 1424607 |
| Warnermedia Holdings, Inc., 4.05%, 3/15/29 | 175000 | 163625 |
| Warnermedia Holdings, Inc., 5.05%, 3/15/42 | 6000000 | 4793670 |
| Warnermedia Holdings, Inc., 5.14%, 3/15/52 | 989000 | 738041 |
|  |  | 20840037 |
| **Financial Services — 2.4%** |  |  |
| Block, Inc., 5.625%, 8/15/30<sup>(1)</sup> | 1400000 | 1419471 |
| Block, Inc., 6.50%, 5/15/32 | 1250000 | 1294739 |
| Block, Inc., 6.00%, 8/15/33<sup>(1)</sup> | 1250000 | 1280900 |
| Boost Newco Borrower LLC, 7.50%, 1/15/31<sup>(1)</sup> | 3925000 | 4166933 |
| Burford Capital Global Finance LLC, 6.25%, 4/15/28<sup>(1)</sup> | 200000 | 200519 |
| Burford Capital Global Finance LLC, 7.50%, 7/15/33<sup>(1)</sup> | 675000 | 687724 |
| ION Platform Finance U.S., Inc., 7.875%, 9/30/32<sup>(1)(2)</sup> | 800000 | 794744 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 8/15/28<sup>(1)</sup> | 2150000 | 2079028 |
| Jefferson Capital Holdings LLC, 6.00%, 8/15/26<sup>(1)</sup> | 1479000 | 1479828 |
| Jefferson Capital Holdings LLC, 9.50%, 2/15/29<sup>(1)</sup> | 1975000 | 2087237 |
| Jefferson Capital Holdings LLC, 8.25%, 5/15/30<sup>(1)</sup> | 2525000 | 2642905 |
| Kinetik Holdings LP, 6.625%, 12/15/28<sup>(1)</sup> | 675000 | 693341 |
| Kinetik Holdings LP, 5.875%, 6/15/30<sup>(1)</sup> | 1000000 | 1006566 |
| Midcap Financial Issuer Trust, 6.50%, 5/1/28<sup>(1)</sup> | 1200000 | 1192711 |
| Midcap Financial Issuer Trust, 5.625%, 1/15/30<sup>(1)</sup> | 600000 | 566244 |
| Mobius Merger Sub, Inc., 9.00%, 6/1/30<sup>(1)</sup> | 250000 | 209721 |
| NCR Atleos Corp., 9.50%, 4/1/29<sup>(1)</sup> | 2550000 | 2762305 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Paysafe Finance PLC/Paysafe Holdings U.S. Corp., 4.00%, 6/15/29<sup>(1)</sup> | $1050000 | $978096 |
| PennyMac Financial Services, Inc., 4.25%, 2/15/29<sup>(1)</sup> | 2200000 | 2131063 |
| PennyMac Financial Services, Inc., 7.875%, 12/15/29<sup>(1)</sup> | 1775000 | 1885036 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 800000 | 833722 |
| PennyMac Financial Services, Inc., 5.75%, 9/15/31<sup>(1)</sup> | 1275000 | 1264998 |
| PennyMac Financial Services, Inc., 6.875%, 5/15/32<sup>(1)</sup> | 1325000 | 1374001 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 1802000 | 1863019 |
| PennyMac Financial Services, Inc., 6.75%, 2/15/34<sup>(1)</sup> | 1850000 | 1888667 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 5244000 | 5418961 |
| Sabre GLBL, Inc., 11.125%, 7/15/30<sup>(1)</sup> | 675000 | 654548 |
| Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc., 6.75%, 8/15/32<sup>(1)</sup> | 575000 | 594898 |
| Walker & Dunlop, Inc., 6.625%, 4/1/33<sup>(1)</sup> | 550000 | 562912 |
| WEX, Inc., 6.50%, 3/15/33<sup>(1)</sup> | 1500000 | 1533132 |
|  |  | 45547969 |
| **Food Products — 1.2%** |  |  |
| B&G Foods, Inc., 8.00%, 9/15/28<sup>(1)</sup> | 1100000 | 1067178 |
| C&S Group Enterprises LLC, 5.00%, 12/15/28<sup>(1)</sup> | 550000 | 498172 |
| Chobani Holdco II LLC, 9.50% PIK, 10/1/29<sup>(1)</sup> | 468881 | 498065 |
| Chobani LLC/Chobani Finance Corp., Inc., 7.625%, 7/1/29<sup>(1)</sup> | 800000 | 835198 |
| Darling Ingredients, Inc., 5.25%, 4/15/27<sup>(1)</sup> | 900000 | 898730 |
| Darling Ingredients, Inc., 6.00%, 6/15/30<sup>(1)</sup> | 1450000 | 1465415 |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)</sup> | 1175000 | 1271458 |
| HLF Financing SARL LLC/Herbalife International, Inc., 12.25%, 4/15/29<sup>(1)</sup> | 421000 | 458805 |
| HLF Financing SARL LLC/Herbalife International, Inc., 4.875%, 6/1/29<sup>(1)</sup> | 425000 | 375803 |
| KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc., 9.00%, 2/15/29<sup>(1)</sup> | 3425000 | 3607905 |
| Lamb Weston Holdings, Inc., 4.125%, 1/31/30<sup>(1)</sup> | 1375000 | 1321881 |
| Lamb Weston Holdings, Inc., 4.375%, 1/31/32<sup>(1)</sup> | 1450000 | 1371622 |
| Post Holdings, Inc., 5.50%, 12/15/29<sup>(1)</sup> | 3175000 | 3165755 |
| Post Holdings, Inc., 4.625%, 4/15/30<sup>(1)</sup> | 350000 | 337809 |
| Post Holdings, Inc., 4.50%, 9/15/31<sup>(1)</sup> | 475000 | 444243 |
| Post Holdings, Inc., 6.25%, 2/15/32<sup>(1)</sup> | 600000 | 617597 |
| Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 3/1/29<sup>(1)</sup> | 1575000 | 1512297 |
| U.S. Foods, Inc., 6.875%, 9/15/28<sup>(1)</sup> | 1025000 | 1057699 |
| U.S. Foods, Inc., 7.25%, 1/15/32<sup>(1)</sup> | 850000 | 890963 |
| U.S. Foods, Inc., 5.75%, 4/15/33<sup>(1)</sup> | 825000 | 831383 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31<sup>(1)</sup> | 1275000 | 1278463 |
|  |  | 23806441 |
| **Gas Utilities — 0.3%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 5.75%, 5/20/27 | 2226000 | 2227165 |
| AmeriGas Partners LP/AmeriGas Finance Corp., 9.375%, 6/1/28<sup>(1)</sup> | 450000 | 462652 |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 1900000 | 2023963 |
|  |  | 4713780 |
| **Ground Transportation — 1.3%** |  |  |
| Albion Financing 1 SARL/Aggreko Holdings, Inc., 7.00%, 5/21/30<sup>(1)</sup> | 2900000 | 3006720 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.75%, 7/15/27<sup>(1)</sup> | 650000 | 649478 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 4.75%, 4/1/28<sup>(1)</sup> | 1425000 | 1382155 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.375%, 3/1/29<sup>(1)</sup> | 850000 | 829585 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.375%, 6/15/32<sup>(1)</sup> | 1600000 | 1674858 |
| Genesee & Wyoming, Inc., 6.25%, 4/15/32<sup>(1)</sup> | 1850000 | 1882175 |
| Hertz Corp., 4.625%, 12/1/26<sup>(1)</sup> | 1125000 | 1107952 |
| Hertz Corp., 12.625%, 7/15/29<sup>(1)</sup> | 550000 | 583598 |
| Hertz Corp., 5.00%, 12/1/29<sup>(1)</sup> | 425000 | 339442 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| NESCO Holdings II, Inc., 5.50%, 4/15/29<sup>(1)</sup> | $1550000 | $1519109 |
| United Rentals North America, Inc., 4.875%, 1/15/28 | 325000 | 324289 |
| United Rentals North America, Inc., 4.00%, 7/15/30 | 2600000 | 2489353 |
| United Rentals North America, Inc., 3.875%, 2/15/31 | 800000 | 757408 |
| United Rentals North America, Inc., 3.75%, 1/15/32 | 1150000 | 1066189 |
| United Rentals North America, Inc., 6.125%, 3/15/34<sup>(1)</sup> | 1500000 | 1561610 |
| Vortex Opco LLC, 8.00%, 4/30/30<sup>(1)</sup> | 1222650 | 125322 |
| Watco Cos. LLC/Watco Finance Corp., 7.125%, 8/1/32<sup>(1)</sup> | 2325000 | 2408503 |
| XPO, Inc., 6.25%, 6/1/28<sup>(1)</sup> | 725000 | 740122 |
| XPO, Inc., 7.125%, 6/1/31<sup>(1)</sup> | 375000 | 392804 |
| XPO, Inc., 7.125%, 2/1/32<sup>(1)</sup> | 1500000 | 1578897 |
|  |  | 24419569 |
| **Health Care Equipment and Supplies — 0.7%** |  |  |
| Avantor Funding, Inc., 4.625%, 7/15/28<sup>(1)</sup> | 2850000 | 2806032 |
| Avantor Funding, Inc., 3.875%, 11/1/29<sup>(1)</sup> | 2050000 | 1951405 |
| Bausch & Lomb Corp., 8.375%, 10/1/28<sup>(1)</sup> | 2200000 | 2295563 |
| Insulet Corp., 6.50%, 4/1/33<sup>(1)</sup> | 1200000 | 1248638 |
| Medline Borrower LP, 5.25%, 10/1/29<sup>(1)</sup> | 3052000 | 3027868 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1150000 | 1180653 |
| Sotera Health Holdings LLC, 7.375%, 6/1/31<sup>(1)</sup> | 1425000 | 1498057 |
|  |  | 14008216 |
| **Health Care Providers and Services — 3.1%** |  |  |
| Acadia Healthcare Co., Inc., 5.50%, 7/1/28<sup>(1)</sup> | 1300000 | 1290149 |
| AHP Health Partners, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 950000 | 935808 |
| CHS/Community Health Systems, Inc., 6.00%, 1/15/29<sup>(1)</sup> | 1225000 | 1190173 |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29<sup>(1)</sup> | 2185000 | 1739085 |
| CHS/Community Health Systems, Inc., 6.125%, 4/1/30<sup>(1)</sup> | 1550000 | 1125624 |
| CHS/Community Health Systems, Inc., 5.25%, 5/15/30<sup>(1)</sup> | 2250000 | 2037486 |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 1728000 | 1495512 |
| CHS/Community Health Systems, Inc., 10.875%, 1/15/32<sup>(1)</sup> | 2300000 | 2438798 |
| CHS/Community Health Systems, Inc., 9.75%, 1/15/34<sup>(1)</sup> | 2050000 | 2102787 |
| CVS Health Corp., VRN, 6.75%, 12/10/54 | 600000 | 620307 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 2100000 | 2208030 |
| DaVita, Inc., 4.625%, 6/1/30<sup>(1)</sup> | 3200000 | 3069436 |
| DaVita, Inc., 6.75%, 7/15/33<sup>(1)</sup> | 575000 | 593422 |
| Encompass Health Corp., 4.75%, 2/1/30 | 1890000 | 1869635 |
| IQVIA, Inc., 6.50%, 5/15/30<sup>(1)</sup> | 775000 | 801639 |
| IQVIA, Inc., 6.25%, 6/1/32<sup>(1)</sup> | 1125000 | 1158065 |
| LifePoint Health, Inc., 5.375%, 1/15/29<sup>(1)</sup> | 1175000 | 1120280 |
| LifePoint Health, Inc., 11.00%, 10/15/30<sup>(1)</sup> | 1175000 | 1296503 |
| LifePoint Health, Inc., 8.375%, 2/15/32<sup>(1)</sup> | 750000 | 799979 |
| LifePoint Health, Inc., 10.00%, 6/1/32<sup>(1)</sup> | 1575000 | 1655654 |
| ModivCare, Inc., 5.00%, 10/1/29<sup>(1)(3)</sup> | 1027000 | 10219 |
| Molina Healthcare, Inc., 4.375%, 6/15/28<sup>(1)</sup> | 1478000 | 1442762 |
| Molina Healthcare, Inc., 3.875%, 11/15/30<sup>(1)</sup> | 925000 | 856666 |
| Molina Healthcare, Inc., 3.875%, 5/15/32<sup>(1)</sup> | 325000 | 295145 |
| Molina Healthcare, Inc., 6.25%, 1/15/33<sup>(1)</sup> | 925000 | 936118 |
| MPH Acquisition Holdings LLC, 5.75%, 12/31/30<sup>(1)</sup> | 1201284 | 1049902 |
| MPH Acquisition Holdings LLC, 6.00% Cash plus 0.75% PIK, 3/31/31<sup>(1)</sup> | 1030784 | 840697 |
| MPH Acquisition Holdings LLC, 6.50% Cash plus 5.00% PIK, 12/31/30<sup>(1)</sup> | 826818 | 865790 |
| Owens & Minor, Inc., 4.50%, 3/31/29<sup>(1)</sup> | 1475000 | 1185226 |
| Owens & Minor, Inc., 6.625%, 4/1/30<sup>(1)</sup> | 300000 | 247782 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Radiology Partners, Inc., 8.50%, 7/15/32<sup>(1)</sup> | $600000 | $621652 |
| Select Medical Corp., 6.25%, 12/1/32<sup>(1)</sup> | 1275000 | 1276720 |
| Star Parent, Inc., 9.00%, 10/1/30<sup>(1)</sup> | 500000 | 529221 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> | 1025000 | 1054208 |
| Team Health Holdings, Inc., 8.375%, 6/30/28<sup>(1)</sup> | 450000 | 460089 |
| Tenet Healthcare Corp., 5.125%, 11/1/27 | 3550000 | 3546502 |
| Tenet Healthcare Corp., 4.625%, 6/15/28 | 504000 | 499845 |
| Tenet Healthcare Corp., 6.125%, 10/1/28 | 4575000 | 4581538 |
| Tenet Healthcare Corp., 4.25%, 6/1/29 | 2150000 | 2101518 |
| Tenet Healthcare Corp., 4.375%, 1/15/30 | 425000 | 413687 |
| Tenet Healthcare Corp., 6.125%, 6/15/30 | 3600000 | 3650425 |
| Tenet Healthcare Corp., 6.75%, 5/15/31 | 1775000 | 1839031 |
| U.S. Acute Care Solutions LLC, 9.75%, 5/15/29<sup>(1)</sup> | 1750000 | 1794157 |
|  |  | 59647272 |
| **Health Care REITs — 0.0%** |  |  |
| Diversified Healthcare Trust, 0.00%, 1/15/26<sup>(1)(5)</sup> | 107000 | 105910 |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(1)</sup> | 350000 | 356153 |
| Diversified Healthcare Trust, 4.375%, 3/1/31 | 25000 | 22106 |
|  |  | 484169 |
| **Health Care Technology — 0.4%** |  |  |
| AthenaHealth Group, Inc., 6.50%, 2/15/30<sup>(1)</sup> | 7582000 | 7526446 |
| **Hotel & Resort REITs — 0.2%** |  |  |
| Service Properties Trust, 4.75%, 10/1/26 | 1450000 | 1453625 |
| Service Properties Trust, 4.95%, 2/15/27 | 475000 | 473571 |
| Service Properties Trust, 5.50%, 12/15/27 | 550000 | 540328 |
| Service Properties Trust, 0.00%, 9/30/28<sup>(1)(5)</sup> | 225000 | 198546 |
| Service Properties Trust, 8.375%, 6/15/29 | 225000 | 228652 |
| Service Properties Trust, 4.95%, 10/1/29 | 1250000 | 1102748 |
| Service Properties Trust, 4.375%, 2/15/30 | 600000 | 510524 |
|  |  | 4507994 |
| **Hotels, Restaurants and Leisure — 7.1%** |  |  |
| 1011778 BC ULC/New Red Finance, Inc., 4.375%, 1/15/28<sup>(1)</sup> | 675000 | 664207 |
| 1011778 BC ULC/New Red Finance, Inc., 6.125%, 6/15/29<sup>(1)</sup> | 1250000 | 1279759 |
| 1011778 BC ULC/New Red Finance, Inc., 4.00%, 10/15/30<sup>(1)</sup> | 6125000 | 5778744 |
| Affinity Interactive, 6.875%, 12/15/27<sup>(1)</sup> | 1850000 | 1061669 |
| BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc., 9.50%, 7/1/32<sup>(1)</sup> | 1675000 | 1755146 |
| Boyd Gaming Corp., 4.75%, 12/1/27 | 575000 | 572778 |
| Boyd Gaming Corp., 4.75%, 6/15/31<sup>(1)</sup> | 3271000 | 3155979 |
| Boyne USA, Inc., 4.75%, 5/15/29<sup>(1)</sup> | 575000 | 564511 |
| Caesars Entertainment, Inc., 6.50%, 2/15/32<sup>(1)</sup> | 375000 | 382730 |
| Caesars Entertainment, Inc., 6.00%, 10/15/32<sup>(1)</sup> | 675000 | 665270 |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 2651000 | 2536637 |
| Carnival Corp., 6.65%, 1/15/28 | 975000 | 1011642 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)(2)</sup> | 1075000 | 1075000 |
| Carnival Corp., 6.00%, 5/1/29<sup>(1)</sup> | 5475000 | 5560224 |
| Carnival Corp., 7.00%, 8/15/29<sup>(1)</sup> | 725000 | 763853 |
| Carnival Corp., 5.875%, 6/15/31<sup>(1)</sup> | 1850000 | 1896959 |
| Carnival Corp., 5.75%, 8/1/32<sup>(1)</sup> | 3700000 | 3770034 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 2825000 | 2897506 |
| Churchill Downs, Inc., 5.50%, 4/1/27<sup>(1)</sup> | 1725000 | 1723767 |
| Churchill Downs, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 350000 | 345583 |
| Churchill Downs, Inc., 5.75%, 4/1/30<sup>(1)</sup> | 1260000 | 1259727 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 1/15/30<sup>(1)</sup> | $2500000 | $2347770 |
| Full House Resorts, Inc., 8.25%, 2/15/28<sup>(1)</sup> | 2225000 | 2067045 |
| GPS Hospitality Holding Co. LLC/GPS Finco, Inc., 7.00%, 8/15/28<sup>(1)</sup> | 2650000 | 1530958 |
| Hilton Domestic Operating Co., Inc., 3.75%, 5/1/29<sup>(1)</sup> | 525000 | 505420 |
| Hilton Domestic Operating Co., Inc., 4.00%, 5/1/31<sup>(1)</sup> | 4775000 | 4522382 |
| Hilton Domestic Operating Co., Inc., 5.875%, 3/15/33<sup>(1)</sup> | 1875000 | 1915333 |
| Hilton Domestic Operating Co., Inc., 5.75%, 9/15/33<sup>(1)</sup> | 1450000 | 1470409 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 5.00%, 6/1/29<sup>(1)</sup> | 2250000 | 2165392 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 4.875%, 7/1/31<sup>(1)</sup> | 2650000 | 2475037 |
| Jacobs Entertainment, Inc., 6.75%, 2/15/29<sup>(1)</sup> | 2325000 | 2271397 |
| Life Time, Inc., 6.00%, 11/15/31<sup>(1)</sup> | 3075000 | 3126180 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 625000 | 641904 |
| Light & Wonder International, Inc., 6.25%, 10/1/33<sup>(1)</sup> | 850000 | 852015 |
| Lindblad Expeditions LLC, 7.00%, 9/15/30<sup>(1)</sup> | 750000 | 764936 |
| Marriott Ownership Resorts, Inc., 4.50%, 6/15/29<sup>(1)</sup> | 550000 | 531105 |
| Marriott Ownership Resorts, Inc., 6.50%, 10/1/33<sup>(1)</sup> | 1475000 | 1469306 |
| Melco Resorts Finance Ltd., 5.375%, 12/4/29<sup>(1)</sup> | 600000 | 591113 |
| Melco Resorts Finance Ltd., 7.625%, 4/17/32<sup>(1)</sup> | 1400000 | 1468728 |
| Melco Resorts Finance Ltd., 6.50%, 9/24/33<sup>(1)</sup> | 1400000 | 1404606 |
| Merlin Entertainments Group U.S. Holdings, Inc., 7.375%, 2/15/31<sup>(1)</sup> | 550000 | 474426 |
| MGM China Holdings Ltd., 5.875%, 5/15/26<sup>(1)</sup> | 500000 | 500944 |
| MGM China Holdings Ltd., 4.75%, 2/1/27<sup>(1)</sup> | 1225000 | 1223001 |
| MGM Resorts International, 5.50%, 4/15/27 | 389000 | 391782 |
| MGM Resorts International, 6.50%, 4/15/32 | 2025000 | 2064323 |
| Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.875%, 5/1/29<sup>(1)</sup> | 1175000 | 1143005 |
| Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC, 8.25%, 4/15/30<sup>(1)</sup> | 250000 | 259946 |
| Motion Bondco DAC, 6.625%, 11/15/27<sup>(1)</sup> | 1175000 | 1151192 |
| Motion Finco SARL, 8.375%, 2/15/32<sup>(1)</sup> | 1400000 | 1211864 |
| NCL Corp. Ltd., 7.75%, 2/15/29<sup>(1)</sup> | 2175000 | 2317088 |
| NCL Corp. Ltd., 6.75%, 2/1/32<sup>(1)</sup> | 1625000 | 1672217 |
| NCL Finance Ltd., 6.125%, 3/15/28<sup>(1)</sup> | 1825000 | 1866075 |
| Penn Entertainment, Inc., 4.125%, 7/1/29<sup>(1)</sup> | 3175000 | 2978250 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.625%, 9/1/29<sup>(1)</sup> | 1735000 | 939069 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.875%, 9/1/31<sup>(1)</sup> | 1825000 | 943184 |
| Raising Cane's Restaurants LLC, 9.375%, 5/1/29<sup>(1)</sup> | 425000 | 446672 |
| Royal Caribbean Cruises Ltd., 5.375%, 7/15/27<sup>(1)</sup> | 3450000 | 3480967 |
| Royal Caribbean Cruises Ltd., 5.625%, 9/30/31<sup>(1)</sup> | 2300000 | 2346912 |
| Royal Caribbean Cruises Ltd., 6.25%, 3/15/32<sup>(1)</sup> | 1500000 | 1549042 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 2320000 | 2380043 |
| SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29<sup>(1)</sup> | 2025000 | 1992688 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., 5.375%, 4/15/27 | 225000 | 224557 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., 6.50%, 10/1/28 | 1400000 | 1407340 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., 5.25%, 7/15/29 | 800000 | 774158 |
| Station Casinos LLC, 4.50%, 2/15/28<sup>(1)</sup> | 475000 | 467341 |
| Station Casinos LLC, 4.625%, 12/1/31<sup>(1)</sup> | 700000 | 660936 |
| Studio City Finance Ltd., 5.00%, 1/15/29<sup>(1)</sup> | 1275000 | 1229451 |
| TKC Holdings, Inc., 10.50%, 5/15/29<sup>(1)</sup> | 1425000 | 1464646 |
| Travel & Leisure Co., 6.625%, 7/31/26<sup>(1)</sup> | 1025000 | 1033267 |
| Travel & Leisure Co., 4.625%, 3/1/30<sup>(1)</sup> | 600000 | 578751 |
| Travel & Leisure Co., 6.125%, 9/1/33<sup>(1)</sup> | 1100000 | 1097652 |
| Viking Cruises Ltd., 5.875%, 9/15/27<sup>(1)</sup> | 3400000 | 3403550 |
| Viking Cruises Ltd., 7.00%, 2/15/29<sup>(1)</sup> | 1500000 | 1508569 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Viking Cruises Ltd., 9.125%, 7/15/31<sup>(1)</sup> | $1700000 | $1825893 |
| Viking Cruises Ltd., 5.875%, 10/15/33<sup>(1)(2)</sup> | 250000 | 250488 |
| Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29<sup>(1)</sup> | 1375000 | 1374773 |
| VOC Escrow Ltd., 5.00%, 2/15/28<sup>(1)</sup> | 1600000 | 1596823 |
| Wyndham Hotels & Resorts, Inc., 4.375%, 8/15/28<sup>(1)</sup> | 75000 | 73267 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 1375000 | 1374476 |
| Wynn Macau Ltd., 5.125%, 12/15/29<sup>(1)</sup> | 2550000 | 2503845 |
| Wynn Macau Ltd., 6.75%, 2/15/34<sup>(1)</sup> | 2550000 | 2586775 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.125%, 10/1/29<sup>(1)</sup> | 2503000 | 2514093 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.125%, 2/15/31<sup>(1)</sup> | 700000 | 754020 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 6.25%, 3/15/33<sup>(1)</sup> | 1325000 | 1346432 |
| Yum! Brands, Inc., 5.375%, 4/1/32 | 3300000 | 3317719 |
|  |  | 135544273 |
| **Household Durables — 2.5%** |  |  |
| Adams Homes, Inc., 9.25%, 10/15/28<sup>(1)</sup> | 4875000 | 5103930 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 4.625%, 8/1/29<sup>(1)</sup> | 700000 | 670908 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 4.625%, 4/1/30<sup>(1)</sup> | 1850000 | 1753106 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 725000 | 731874 |
| Beazer Homes USA, Inc., 5.875%, 10/15/27 | 425000 | 425113 |
| Beazer Homes USA, Inc., 7.25%, 10/15/29 | 2425000 | 2473127 |
| Beazer Homes USA, Inc., 7.50%, 3/15/31<sup>(1)</sup> | 875000 | 887752 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 5.00%, 6/15/29<sup>(1)</sup> | 1425000 | 1359290 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.875%, 2/15/30<sup>(1)</sup> | 400000 | 375522 |
| Century Communities, Inc., 3.875%, 8/15/29<sup>(1)</sup> | 1325000 | 1247689 |
| Century Communities, Inc., 6.625%, 9/15/33<sup>(1)</sup> | 650000 | 656178 |
| Dream Finders Homes, Inc., 8.25%, 8/15/28<sup>(1)</sup> | 1450000 | 1505622 |
| Dream Finders Homes, Inc., 6.875%, 9/15/30<sup>(1)</sup> | 775000 | 780340 |
| Empire Communities Corp., 9.75%, 5/1/29<sup>(1)</sup> | 1150000 | 1207235 |
| Installed Building Products, Inc., 5.75%, 2/1/28<sup>(1)</sup> | 1450000 | 1448875 |
| K Hovnanian Enterprises, Inc., 8.00%, 4/1/31<sup>(1)</sup> | 475000 | 487382 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 700000 | 718114 |
| K Hovnanian Enterprises, Inc., 5.00%, 2/1/40<sup>(1)</sup> | 26000 | 17160 |
| KB Home, 7.25%, 7/15/30 | 800000 | 825954 |
| KB Home, 4.00%, 6/15/31 | 1775000 | 1668248 |
| LGI Homes, Inc., 8.75%, 12/15/28<sup>(1)</sup> | 1250000 | 1313056 |
| LGI Homes, Inc., 4.00%, 7/15/29<sup>(1)</sup> | 700000 | 639376 |
| LGI Homes, Inc., 7.00%, 11/15/32<sup>(1)</sup> | 750000 | 733125 |
| Mattamy Group Corp., 4.625%, 3/1/30<sup>(1)</sup> | 1325000 | 1280072 |
| New Home Co., Inc., 9.25%, 10/1/29<sup>(1)</sup> | 850000 | 893591 |
| Newell Brands, Inc., 6.375%, 9/15/27 | 800000 | 813409 |
| Newell Brands, Inc., 8.50%, 6/1/28<sup>(1)</sup> | 1175000 | 1245777 |
| Newell Brands, Inc., 6.625%, 9/15/29 | 900000 | 906826 |
| Newell Brands, Inc., 6.375%, 5/15/30 | 750000 | 744971 |
| Newell Brands, Inc., 6.625%, 5/15/32 | 575000 | 568910 |
| Newell Brands, Inc., 6.875%, 4/1/36 | 2175000 | 2167400 |
| Newell Brands, Inc., 7.00%, 4/1/46 | 625000 | 551695 |
| Shea Homes LP/Shea Homes Funding Corp., 4.75%, 2/15/28 | 1025000 | 1012821 |
| Shea Homes LP/Shea Homes Funding Corp., 4.75%, 4/1/29 | 1775000 | 1742544 |
| Somnigroup International, Inc., 4.00%, 4/15/29<sup>(1)</sup> | 425000 | 408479 |
| Somnigroup International, Inc., 3.875%, 10/15/31<sup>(1)</sup> | 725000 | 664947 |
| STL Holding Co. LLC, 8.75%, 2/15/29<sup>(1)</sup> | 1125000 | 1182944 |
| SWF Holdings I Corp., 6.50%, 10/1/29<sup>(1)</sup> | 950000 | 370500 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(1)</sup> | $525000 | $532773 |
| TopBuild Corp., 4.125%, 2/15/32<sup>(1)</sup> | 950000 | 891295 |
| Tri Pointe Homes, Inc., 5.25%, 6/1/27 | 700000 | 699853 |
| Whirlpool Corp., 6.125%, 6/15/30 | 875000 | 882632 |
| Whirlpool Corp., 5.50%, 3/1/33 | 375000 | 355247 |
| Whirlpool Corp., 6.50%, 6/15/33 | 675000 | 674235 |
| Whirlpool Corp., 5.15%, 3/1/43 | 1300000 | 1088000 |
| Whirlpool Corp., 4.50%, 6/1/46 | 743000 | 567745 |
| Whirlpool Corp., 4.60%, 5/15/50 | 300000 | 224596 |
|  |  | 47500238 |
| **Household Products — 0.1%** |  |  |
| Central Garden & Pet Co., 4.125%, 10/15/30 | 200000 | 190265 |
| Central Garden & Pet Co., 4.125%, 4/30/31<sup>(1)</sup> | 900000 | 840858 |
|  |  | 1031123 |
| **Independent Power and Renewable Electricity Producers — 0.7%** |  |  |
| AES Corp., VRN, 7.60%, 1/15/55 | 1315000 | 1365077 |
| AES Corp., VRN, 6.95%, 7/15/55 | 500000 | 491938 |
| Calpine Corp., 4.50%, 2/15/28<sup>(1)</sup> | 50000 | 49822 |
| Calpine Corp., 5.125%, 3/15/28<sup>(1)</sup> | 2825000 | 2828531 |
| Calpine Corp., 4.625%, 2/1/29<sup>(1)</sup> | 575000 | 569801 |
| Calpine Corp., 5.00%, 2/1/31<sup>(1)</sup> | 3275000 | 3267475 |
| Lightning Power LLC, 7.25%, 8/15/32<sup>(1)</sup> | 2425000 | 2569144 |
| TerraForm Power Operating LLC, 5.00%, 1/31/28<sup>(1)</sup> | 280000 | 278188 |
| TerraForm Power Operating LLC, 4.75%, 1/15/30<sup>(1)</sup> | 1129000 | 1092077 |
| TransAlta Corp., 7.75%, 11/15/29 | 500000 | 520271 |
|  |  | 13032324 |
| **Industrial Conglomerates — 0.0%** |  |  |
| Stena International SA, 7.25%, 1/15/31<sup>(1)</sup> | 550000 | 561217 |
| **Insurance — 1.1%** |  |  |
| Acrisure LLC/Acrisure Finance, Inc., 8.25%, 2/1/29<sup>(1)</sup> | 2275000 | 2376231 |
| Acrisure LLC/Acrisure Finance, Inc., 4.25%, 2/15/29<sup>(1)</sup> | 2050000 | 1976771 |
| Acrisure LLC/Acrisure Finance, Inc., 8.50%, 6/15/29<sup>(1)</sup> | 1500000 | 1576011 |
| Acrisure LLC/Acrisure Finance, Inc., 6.00%, 8/1/29<sup>(1)</sup> | 565000 | 557422 |
| Acrisure LLC/Acrisure Finance, Inc., 7.50%, 11/6/30<sup>(1)</sup> | 2350000 | 2449945 |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 7/1/32<sup>(1)</sup> | 200000 | 206101 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.50%, 10/1/31<sup>(1)</sup> | 300000 | 307105 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 7.375%, 10/1/32<sup>(1)</sup> | 2044000 | 2108759 |
| Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, Inc., 7.50%, 7/15/33<sup>(1)</sup> | 375000 | 385778 |
| APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC, 7.875%, 11/1/29<sup>(1)</sup> | 1675000 | 1749454 |
| Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance, 7.125%, 5/15/31<sup>(1)</sup> | 1925000 | 1999834 |
| Genworth Holdings, Inc., VRN, 6.48%, (3-month SOFR plus 2.26%), 11/15/66 | 250000 | 213493 |
| HUB International Ltd., 5.625%, 12/1/29<sup>(1)</sup> | 625000 | 624881 |
| HUB International Ltd., 7.25%, 6/15/30<sup>(1)</sup> | 1000000 | 1043670 |
| MBIA Insurance Corp., VRN, 15.84%, 1/15/33<sup>(1)(3)(4)</sup> | 125000 | 1562 |
| Nassau Cos., of New York, 7.875%, 7/15/30<sup>(1)</sup> | 875000 | 894390 |
| Panther Escrow Issuer LLC, 7.125%, 6/1/31<sup>(1)</sup> | 1675000 | 1743370 |
| Ryan Specialty LLC, 5.875%, 8/1/32<sup>(1)</sup> | 1425000 | 1442016 |
|  |  | 21656793 |
| **Interactive Media and Services — 0.3%** |  |  |
| Arches Buyer, Inc., 4.25%, 6/1/28<sup>(1)</sup> | 1400000 | 1373135 |
| Snap, Inc., 6.875%, 3/1/33<sup>(1)</sup> | 4825000 | 4936958 |
|  |  | 6310093 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **IT Services — 0.5%** |  |  |
| ASGN, Inc., 4.625%, 5/15/28<sup>(1)</sup> | $2358000 | $2316749 |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 2225000 | 2300659 |
| CoreWeave, Inc., 9.00%, 2/1/31<sup>(1)</sup> | 3950000 | 4053209 |
| Newfold Digital Holdings Group, Inc., 6.00%, 2/15/29<sup>(1)</sup> | 725000 | 431039 |
| Twilio, Inc., 3.875%, 3/15/31 | 1000000 | 940967 |
|  |  | 10042623 |
| **Leisure Products — 0.1%** |  |  |
| MajorDrive Holdings IV LLC, 6.375%, 6/1/29<sup>(1)</sup> | 2375000 | 1958125 |
| Mattel, Inc., 5.45%, 11/1/41 | 525000 | 483959 |
|  |  | 2442084 |
| **Life Sciences Tools and Services — 0.1%** |  |  |
| Charles River Laboratories International, Inc., 4.25%, 5/1/28<sup>(1)</sup> | 725000 | 709726 |
| Charles River Laboratories International, Inc., 3.75%, 3/15/29<sup>(1)</sup> | 425000 | 402845 |
| Charles River Laboratories International, Inc., 4.00%, 3/15/31<sup>(1)</sup> | 1150000 | 1071859 |
|  |  | 2184430 |
| **Machinery — 0.5%** |  |  |
| Allison Transmission, Inc., 4.75%, 10/1/27<sup>(1)</sup> | 225000 | 223638 |
| Allison Transmission, Inc., 5.875%, 6/1/29<sup>(1)</sup> | 125000 | 126135 |
| Allison Transmission, Inc., 3.75%, 1/30/31<sup>(1)</sup> | 1175000 | 1086460 |
| Hillenbrand, Inc., 3.75%, 3/1/31 | 50000 | 47169 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 2/15/29<sup>(1)</sup> | 1275000 | 1334212 |
| JB Poindexter & Co., Inc., 8.75%, 12/15/31<sup>(1)</sup> | 2059000 | 2159074 |
| Manitowoc Co., Inc., 9.25%, 10/1/31<sup>(1)</sup> | 1075000 | 1129247 |
| Terex Corp., 5.00%, 5/15/29<sup>(1)</sup> | 2150000 | 2119222 |
| Trinity Industries, Inc., 7.75%, 7/15/28<sup>(1)</sup> | 2075000 | 2147673 |
|  |  | 10372830 |
| **Media — 8.4%** |  |  |
| Advantage Sales & Marketing, Inc., 6.50%, 11/15/28<sup>(1)</sup> | 400000 | 344653 |
| Altice Financing SA, 9.625%, 7/15/27<sup>(1)</sup> | 1400000 | 1261232 |
| Altice Financing SA, 5.00%, 1/15/28<sup>(1)</sup> | 2500000 | 1945875 |
| AMC Networks, Inc., 10.25%, 1/15/29<sup>(1)</sup> | 600000 | 632775 |
| AMC Networks, Inc., 4.25%, 2/15/29 | 259000 | 225570 |
| AMC Networks, Inc., 10.50%, 7/15/32<sup>(1)</sup> | 1050000 | 1111320 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 588000 | 584519 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.375%, 6/1/29<sup>(1)</sup> | 1200000 | 1192904 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 6.375%, 9/1/29<sup>(1)</sup> | 4225000 | 4286520 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 2/1/31<sup>(1)</sup> | 1008000 | 929231 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31<sup>(1)</sup> | 1075000 | 1109841 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 2/1/32<sup>(1)</sup> | 8875000 | 8214849 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 5/1/32 | 4250000 | 3870438 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 6/1/33<sup>(1)</sup> | 5700000 | 5071209 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 1/15/34<sup>(1)</sup> | 6250000 | 5407425 |
| Charter Communications Operating LLC/Charter Communications Operating Capital, 6.48%, 10/23/45 | 150000 | 148268 |
| Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28<sup>(1)</sup> | 3930000 | 3926351 |
| Clear Channel Outdoor Holdings, Inc., 7.50%, 6/1/29<sup>(1)</sup> | 1275000 | 1239731 |
| Clear Channel Outdoor Holdings, Inc., 7.875%, 4/1/30<sup>(1)</sup> | 1200000 | 1260901 |
| CSC Holdings LLC, 5.50%, 4/15/27<sup>(1)</sup> | 3575000 | 3396226 |
| CSC Holdings LLC, 5.375%, 2/1/28<sup>(1)</sup> | 1450000 | 1272650 |
| CSC Holdings LLC, 7.50%, 4/1/28<sup>(1)</sup> | 1200000 | 870074 |
| CSC Holdings LLC, 11.25%, 5/15/28<sup>(1)</sup> | 2400000 | 2223667 |
| CSC Holdings LLC, 11.75%, 1/31/29<sup>(1)</sup> | 4425000 | 3723943 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| CSC Holdings LLC, 6.50%, 2/1/29<sup>(1)</sup> | $2975000 | $2201397 |
| CSC Holdings LLC, 5.75%, 1/15/30<sup>(1)</sup> | 2048000 | 782152 |
| CSC Holdings LLC, 4.125%, 12/1/30<sup>(1)</sup> | 1100000 | 721232 |
| CSC Holdings LLC, 4.625%, 12/1/30<sup>(1)</sup> | 2865000 | 1007783 |
| CSC Holdings LLC, 3.375%, 2/15/31<sup>(1)</sup> | 1000000 | 645725 |
| CSC Holdings LLC, 4.50%, 11/15/31<sup>(1)</sup> | 2775000 | 1806914 |
| CSC Holdings LLC, 5.00%, 11/15/31<sup>(1)</sup> | 3575000 | 1257953 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 1875000 | 1854321 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 744000 | 738494 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27<sup>(1)</sup> | 769000 | 768718 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 10.00%, 2/15/31<sup>(1)</sup> | 7384000 | 7378698 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 575000 | 561824 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 3450000 | 3323816 |
| Discovery Communications LLC, 3.625%, 5/15/30 | 2350000 | 2173881 |
| Discovery Communications LLC, 5.00%, 9/20/37 | 475000 | 407887 |
| Discovery Communications LLC, 6.35%, 6/1/40 | 250000 | 230668 |
| DISH DBS Corp., 7.75%, 7/1/26 | 1845000 | 1829910 |
| DISH DBS Corp., 5.25%, 12/1/26<sup>(1)</sup> | 2950000 | 2901131 |
| DISH DBS Corp., 7.375%, 7/1/28 | 1225000 | 1130063 |
| DISH DBS Corp., 5.75%, 12/1/28<sup>(1)</sup> | 3400000 | 3262266 |
| DISH DBS Corp., 5.125%, 6/1/29 | 1900000 | 1626428 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(1)</sup> | 4650000 | 4924708 |
| EchoStar Corp., 10.75%, 11/30/29 | 6725000 | 7403889 |
| EchoStar Corp., 6.75% PIK, 11/30/30 | 4084578 | 4214161 |
| Gray Media, Inc., 4.75%, 10/15/30<sup>(1)</sup> | 1577000 | 1212319 |
| Gray Media, Inc., 5.375%, 11/15/31<sup>(1)</sup> | 3217000 | 2418806 |
| Gray Media, Inc., 9.625%, 7/15/32<sup>(1)</sup> | 700000 | 715759 |
| Gray Media, Inc., 7.25%, 8/15/33<sup>(1)</sup> | 850000 | 842841 |
| iHeartCommunications, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 1625000 | 1412734 |
| iHeartCommunications, Inc., 9.125%, 5/1/29<sup>(1)</sup> | 1948813 | 1760044 |
| iHeartCommunications, Inc., 10.875%, 5/1/30<sup>(1)</sup> | 2270000 | 1544727 |
| iHeartCommunications, Inc., 7.75%, 8/15/30<sup>(1)</sup> | 1414000 | 1175662 |
| iHeartCommunications, Inc., 7.00%, 1/15/31<sup>(1)</sup> | 549200 | 431545 |
| Lamar Media Corp., 4.00%, 2/15/30 | 775000 | 742641 |
| Lamar Media Corp., 5.375%, 11/1/33<sup>(1)</sup> | 775000 | 770268 |
| LCPR Senior Secured Financing DAC, 6.75%, 10/15/27<sup>(1)</sup> | 200000 | 119922 |
| LCPR Senior Secured Financing DAC, 5.125%, 7/15/29<sup>(1)</sup> | 550000 | 305740 |
| Liberty Interactive LLC, 8.25%, 2/1/30 | 750000 | 105000 |
| McGraw-Hill Education, Inc., 8.00%, 8/1/29<sup>(1)</sup> | 1275000 | 1299581 |
| McGraw-Hill Education, Inc., 7.375%, 9/1/31<sup>(1)</sup> | 650000 | 675879 |
| Midcontinent Communications, 8.00%, 8/15/32<sup>(1)</sup> | 950000 | 979975 |
| News Corp., 5.125%, 2/15/32<sup>(1)</sup> | 1100000 | 1094195 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 5.00%, 8/15/27<sup>(1)</sup> | 3825000 | 3808838 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 4.25%, 1/15/29<sup>(1)</sup> | 1733000 | 1665961 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 4.625%, 3/15/30<sup>(1)</sup> | 1875000 | 1803649 |
| Scripps Escrow II, Inc., 5.375%, 1/15/31<sup>(1)</sup> | 625000 | 440441 |
| Sinclair Television Group, Inc., 5.125%, 2/15/27<sup>(1)</sup> | 1375000 | 1376444 |
| Sinclair Television Group, Inc., 5.50%, 3/1/30<sup>(1)</sup> | 275000 | 234781 |
| Sinclair Television Group, Inc., 4.375%, 12/31/32<sup>(1)</sup> | 750000 | 536250 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> | 825000 | 814420 |
| Sirius XM Radio LLC, 5.00%, 8/1/27<sup>(1)</sup> | 1525000 | 1518912 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 1775000 | 1716601 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Sirius XM Radio LLC, 5.50%, 7/1/29<sup>(1)</sup> | $1150000 | $1151185 |
| Sirius XM Radio LLC, 4.125%, 7/1/30<sup>(1)</sup> | 225000 | 211185 |
| Sirius XM Radio LLC, 3.875%, 9/1/31<sup>(1)</sup> | 2875000 | 2607358 |
| Sunrise FinCo I BV, 4.875%, 7/15/31<sup>(1)</sup> | 3350000 | 3193790 |
| Sunrise HoldCo IV BV, 5.50%, 1/15/28<sup>(1)</sup> | 1000000 | 997820 |
| TEGNA, Inc., 4.625%, 3/15/28 | 600000 | 590641 |
| TEGNA, Inc., 5.00%, 9/15/29 | 625000 | 622274 |
| Univision Communications, Inc., 8.00%, 8/15/28<sup>(1)</sup> | 450000 | 466652 |
| Univision Communications, Inc., 4.50%, 5/1/29<sup>(1)</sup> | 2900000 | 2737780 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(1)</sup> | 825000 | 829641 |
| Univision Communications, Inc., 8.50%, 7/31/31<sup>(1)</sup> | 1850000 | 1911923 |
| Univision Communications, Inc., 9.375%, 8/1/32<sup>(1)</sup> | 2350000 | 2506291 |
| Virgin Media Finance PLC, 5.00%, 7/15/30<sup>(1)</sup> | 2250000 | 2091786 |
| Virgin Media Vendor Financing Notes IV DAC, 5.00%, 7/15/28<sup>(1)</sup> | 900000 | 882373 |
| VZ Secured Financing BV, 5.00%, 1/15/32<sup>(1)</sup> | 750000 | 679060 |
|  |  | 160407885 |
| **Metals and Mining — 2.5%** |  |  |
| Alcoa Nederland Holding BV, 4.125%, 3/31/29<sup>(1)</sup> | 278000 | 269055 |
| Alcoa Nederland Holding BV, 7.125%, 3/15/31<sup>(1)</sup> | 2550000 | 2682618 |
| Algoma Steel, Inc., 9.125%, 4/15/29<sup>(1)</sup> | 1193000 | 1017713 |
| Alumina Pty. Ltd., 6.125%, 3/15/30<sup>(1)</sup> | 225000 | 230302 |
| Alumina Pty. Ltd., 6.375%, 9/15/32<sup>(1)</sup> | 275000 | 282146 |
| Arsenal AIC Parent LLC, 8.00%, 10/1/30<sup>(1)</sup> | 1525000 | 1616572 |
| Arsenal AIC Parent LLC, 11.50%, 10/1/31<sup>(1)</sup> | 1420000 | 1578865 |
| Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 7/15/26<sup>(1)</sup> | 1325000 | 1230131 |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29<sup>(1)</sup> | 1545000 | 1546856 |
| Capstone Copper Corp., 6.75%, 3/31/33<sup>(1)</sup> | 400000 | 412356 |
| Century Aluminum Co., 6.875%, 8/1/32<sup>(1)</sup> | 850000 | 882002 |
| Champion Iron Canada, Inc., 7.875%, 7/15/32<sup>(1)</sup> | 625000 | 653914 |
| Cleveland-Cliffs, Inc., 6.875%, 11/1/29<sup>(1)</sup> | 1625000 | 1657372 |
| Cleveland-Cliffs, Inc., 6.75%, 4/15/30<sup>(1)</sup> | 1350000 | 1373159 |
| Cleveland-Cliffs, Inc., 4.875%, 3/1/31<sup>(1)</sup> | 1000000 | 936830 |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 600000 | 618856 |
| Cleveland-Cliffs, Inc., 7.00%, 3/15/32<sup>(1)</sup> | 1440000 | 1456150 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 1450000 | 1481421 |
| Commercial Metals Co., 4.125%, 1/15/30 | 775000 | 744203 |
| Commercial Metals Co., 4.375%, 3/15/32 | 775000 | 732021 |
| Compass Minerals International, Inc., 8.00%, 7/1/30<sup>(1)</sup> | 825000 | 862972 |
| Constellium SE, 6.375%, 8/15/32<sup>(1)</sup> | 750000 | 767245 |
| First Quantum Minerals Ltd., 8.00%, 3/1/33<sup>(1)</sup> | 1475000 | 1559233 |
| First Quantum Minerals Ltd., 7.25%, 2/15/34<sup>(1)</sup> | 1125000 | 1163945 |
| Fortescue Treasury Pty. Ltd., 5.875%, 4/15/30<sup>(1)</sup> | 725000 | 743585 |
| Fortescue Treasury Pty. Ltd., 4.375%, 4/1/31<sup>(1)</sup> | 3150000 | 3009612 |
| Fortescue Treasury Pty. Ltd., 6.125%, 4/15/32<sup>(1)</sup> | 3275000 | 3386704 |
| Hudbay Minerals, Inc., 4.50%, 4/1/26<sup>(1)</sup> | 950000 | 947719 |
| IAMGOLD Corp., 5.75%, 10/15/28<sup>(1)</sup> | 675000 | 674743 |
| Infrabuild Australia Pty. Ltd., 14.50%, 11/15/28<sup>(1)</sup> | 400000 | 430629 |
| Kaiser Aluminum Corp., 4.625%, 3/1/28<sup>(1)</sup> | 1441000 | 1426059 |
| Kaiser Aluminum Corp., 4.50%, 6/1/31<sup>(1)</sup> | 1328000 | 1252690 |
| Mineral Resources Ltd., 8.125%, 5/1/27<sup>(1)</sup> | 1225000 | 1225724 |
| Mineral Resources Ltd., 8.00%, 11/1/27<sup>(1)</sup> | 875000 | 892622 |
| Mineral Resources Ltd., 9.25%, 10/1/28<sup>(1)</sup> | 300000 | 314718 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Mineral Resources Ltd., 8.50%, 5/1/30<sup>(1)</sup> | $1392000 | $1449058 |
| Mineral Resources Ltd., 7.00%, 4/1/31<sup>(1)(2)</sup> | 700000 | 709496 |
| Novelis Corp., 4.75%, 1/30/30<sup>(1)</sup> | 1225000 | 1182729 |
| Novelis Corp., 6.875%, 1/30/30<sup>(1)</sup> | 825000 | 856188 |
| Novelis Corp., 3.875%, 8/15/31<sup>(1)</sup> | 525000 | 479072 |
| Roller Bearing Co. of America, Inc., 4.375%, 10/15/29<sup>(1)</sup> | 1175000 | 1142682 |
| Taseko Mines Ltd., 8.25%, 5/1/30<sup>(1)</sup> | 1308000 | 1386995 |
| TMS International Corp., 6.25%, 4/15/29<sup>(1)</sup> | 725000 | 703668 |
|  |  | 47970630 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.6%** |  |  |
| Blackstone Mortgage Trust, Inc., 3.75%, 1/15/27<sup>(1)</sup> | 2075000 | 2027381 |
| Blackstone Mortgage Trust, Inc., 7.75%, 12/1/29<sup>(1)</sup> | 525000 | 554362 |
| EF Holdco/EF Cayman Holdings/Ellington Fin REIT Cayman/TRS/EF Cayman Non-MTM, 7.375%, 9/30/30<sup>(1)(2)</sup> | 350000 | 350000 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.25%, 2/1/27<sup>(1)</sup> | 850000 | 843182 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 650000 | 681957 |
| Rithm Capital Corp., 8.00%, 4/1/29<sup>(1)</sup> | 2075000 | 2125499 |
| Rithm Capital Corp., 8.00%, 7/15/30<sup>(1)</sup> | 1075000 | 1101450 |
| Starwood Property Trust, Inc., 6.00%, 4/15/30<sup>(1)</sup> | 2300000 | 2336821 |
| Starwood Property Trust, Inc., 6.50%, 7/1/30<sup>(1)</sup> | 950000 | 983381 |
| Starwood Property Trust, Inc., 6.50%, 10/15/30<sup>(1)</sup> | 222000 | 229874 |
|  |  | 11233907 |
| **Oil, Gas and Consumable Fuels — 10.0%** |  |  |
| Aethon United BR LP/Aethon United Finance Corp., 7.50%, 10/1/29<sup>(1)</sup> | 1300000 | 1356733 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.375%, 6/15/29<sup>(1)</sup> | 750000 | 747802 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 6.625%, 2/1/32<sup>(1)</sup> | 925000 | 953487 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 9.00%, 11/1/27<sup>(1)</sup> | 2150000 | 2599103 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 6.625%, 10/15/32<sup>(1)</sup> | 525000 | 536152 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 6.625%, 7/15/33<sup>(1)</sup> | 800000 | 813997 |
| Baytex Energy Corp., 8.50%, 4/30/30<sup>(1)</sup> | 1700000 | 1749213 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 1375000 | 1426840 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.25%, 7/15/32<sup>(1)</sup> | 400000 | 420966 |
| Buckeye Partners LP, 6.875%, 7/1/29<sup>(1)</sup> | 1550000 | 1607524 |
| Buckeye Partners LP, 6.75%, 2/1/30<sup>(1)</sup> | 550000 | 571678 |
| Buckeye Partners LP, 5.85%, 11/15/43 | 825000 | 773420 |
| California Resources Corp., 8.25%, 6/15/29<sup>(1)</sup> | 1025000 | 1069726 |
| Caturus Energy LLC, 8.50%, 2/15/30<sup>(1)</sup> | 500000 | 520984 |
| Chord Energy Corp., 6.00%, 10/1/30<sup>(1)</sup> | 475000 | 471990 |
| Chord Energy Corp., 6.75%, 3/15/33<sup>(1)</sup> | 300000 | 304144 |
| CITGO Petroleum Corp., 6.375%, 6/15/26<sup>(1)</sup> | 1550000 | 1551067 |
| CITGO Petroleum Corp., 8.375%, 1/15/29<sup>(1)</sup> | 2100000 | 2187553 |
| Civitas Resources, Inc., 5.00%, 10/15/26<sup>(1)</sup> | 2850000 | 2838349 |
| Civitas Resources, Inc., 8.375%, 7/1/28<sup>(1)</sup> | 975000 | 1011854 |
| Civitas Resources, Inc., 8.625%, 11/1/30<sup>(1)</sup> | 2950000 | 3057452 |
| Civitas Resources, Inc., 8.75%, 7/1/31<sup>(1)</sup> | 2112000 | 2166407 |
| Civitas Resources, Inc., 9.625%, 6/15/33<sup>(1)</sup> | 3275000 | 3461698 |
| CNX Resources Corp., 6.00%, 1/15/29<sup>(1)</sup> | 1150000 | 1151305 |
| CNX Resources Corp., 7.375%, 1/15/31<sup>(1)</sup> | 800000 | 825386 |
| CNX Resources Corp., 7.25%, 3/1/32<sup>(1)</sup> | 625000 | 648861 |
| Comstock Resources, Inc., 6.75%, 3/1/29<sup>(1)</sup> | 1633000 | 1631468 |
| Comstock Resources, Inc., 6.75%, 3/1/29<sup>(1)</sup> | 100000 | 99476 |
| Comstock Resources, Inc., 5.875%, 1/15/30<sup>(1)</sup> | 2840000 | 2737335 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 6/15/31<sup>(1)</sup> | 4350000 | 4312413 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Crescent Energy Finance LLC, 7.625%, 4/1/32<sup>(1)</sup> | $1025000 | $1018623 |
| Crescent Energy Finance LLC, 7.375%, 1/15/33<sup>(1)</sup> | 875000 | 852656 |
| Crescent Energy Finance LLC, 8.375%, 1/15/34<sup>(1)</sup> | 940000 | 953223 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.125%, 6/1/28<sup>(1)</sup> | 1375000 | 1381376 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 8.625%, 3/15/29<sup>(1)</sup> | 3575000 | 3730691 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.375%, 6/30/33<sup>(1)</sup> | 1725000 | 1755457 |
| Energy Transfer LP, VRN, 7.125%, 10/1/54 | 1025000 | 1064813 |
| Energy Transfer LP, VRN, 6.50%, 2/15/56 | 1775000 | 1768420 |
| Energy Transfer LP, VRN, 6.75%, 2/15/56 | 1200000 | 1199055 |
| EQT Corp., 4.50%, 1/15/29 | 878000 | 878405 |
| Expand Energy Corp., 5.875%, 2/1/29<sup>(1)</sup> | 1100000 | 1104167 |
| Genesis Energy LP/Genesis Energy Finance Corp., 7.75%, 2/1/28 | 600000 | 604685 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.875%, 4/15/30 | 1125000 | 1191848 |
| Genesis Energy LP/Genesis Energy Finance Corp., 7.875%, 5/15/32 | 1900000 | 1983132 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 5/15/33 | 2300000 | 2407477 |
| Global Partners LP/GLP Finance Corp., 7.125%, 7/1/33<sup>(1)</sup> | 900000 | 923182 |
| Golar LNG Ltd., 7.50%, 10/2/30<sup>(1)(2)</sup> | 950000 | 941968 |
| Gulfport Energy Operating Corp., 6.75%, 9/1/29<sup>(1)</sup> | 625000 | 642152 |
| Harvest Midstream I LP, 7.50%, 9/1/28<sup>(1)</sup> | 1925000 | 1947197 |
| Harvest Midstream I LP, 7.50%, 5/15/32<sup>(1)</sup> | 1375000 | 1409128 |
| Hess Midstream Operations LP, 5.875%, 3/1/28<sup>(1)</sup> | 25000 | 25500 |
| Hess Midstream Operations LP, 5.125%, 6/15/28<sup>(1)</sup> | 1645000 | 1644425 |
| Hess Midstream Operations LP, 6.50%, 6/1/29<sup>(1)</sup> | 825000 | 851371 |
| Hess Midstream Operations LP, 4.25%, 2/15/30<sup>(1)</sup> | 621000 | 602415 |
| Hess Midstream Operations LP, 5.50%, 10/15/30<sup>(1)</sup> | 1596000 | 1608736 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/1/28<sup>(1)</sup> | 600000 | 601921 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30<sup>(1)</sup> | 900000 | 887803 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 2/1/31<sup>(1)</sup> | 1650000 | 1595237 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32<sup>(1)</sup> | 950000 | 912037 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 8.375%, 11/1/33<sup>(1)</sup> | 1700000 | 1786637 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 7.25%, 2/15/35<sup>(1)</sup> | 750000 | 733471 |
| ITT Holdings LLC, 6.50%, 8/1/29<sup>(1)</sup> | 1675000 | 1647948 |
| Kraken Oil & Gas Partners LLC, 7.625%, 8/15/29<sup>(1)</sup> | 1625000 | 1611994 |
| Long Ridge Energy LLC, 8.75%, 2/15/32<sup>(1)</sup> | 675000 | 694310 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.875%, 12/1/32<sup>(1)</sup> | 1700000 | 1745849 |
| Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 2/15/28<sup>(1)</sup> | 2825000 | 3006704 |
| Matador Resources Co., 6.875%, 4/15/28<sup>(1)</sup> | 875000 | 893593 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 1450000 | 1464890 |
| Matador Resources Co., 6.25%, 4/15/33<sup>(1)</sup> | 2850000 | 2870517 |
| MEG Energy Corp., 5.875%, 2/1/29<sup>(1)</sup> | 890000 | 890627 |
| Moss Creek Resources Holdings, Inc., 8.25%, 9/1/31<sup>(1)</sup> | 1000000 | 980638 |
| Murphy Oil Corp., 6.00%, 10/1/32 | 1030000 | 1016864 |
| Murray Energy Corp., 12.00%, 4/15/24<sup>(1)(4)(6)</sup> | 5425447 | 54 |
| New Fortress Energy, Inc., 6.50%, 9/30/26<sup>(1)</sup> | 1000000 | 252015 |
| NFE Financing LLC, 12.00%, 11/15/29<sup>(1)</sup> | 4250000 | 1253750 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.125%, 2/15/29<sup>(1)</sup> | 3010000 | 3088420 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.375%, 2/15/32<sup>(1)</sup> | 950000 | 974278 |
| Northern Oil & Gas, Inc., 8.125%, 3/1/28<sup>(1)</sup> | 3250000 | 3307099 |
| Northern Oil & Gas, Inc., 8.75%, 6/15/31<sup>(1)</sup> | 1150000 | 1189497 |
| Northern Oil & Gas, Inc., 7.875%, 10/15/33<sup>(1)(2)</sup> | 1750000 | 1744169 |
| Northriver Midstream Finance LP, 6.75%, 7/15/32<sup>(1)</sup> | 1575000 | 1611659 |
| NuStar Logistics LP, 5.625%, 4/28/27 | 1225000 | 1233405 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| NuStar Logistics LP, 6.375%, 10/1/30 | $1850000 | $1917264 |
| ONEOK, Inc., 5.60%, 4/1/44 | 1200000 | 1138760 |
| ONEOK, Inc., 5.05%, 4/1/45 | 300000 | 266863 |
| ONEOK, Inc., 5.45%, 6/1/47 | 1325000 | 1223662 |
| Parkland Corp., 4.50%, 10/1/29<sup>(1)</sup> | 4425000 | 4312703 |
| Parkland Corp., 4.625%, 5/1/30<sup>(1)</sup> | 1325000 | 1289076 |
| PBF Holding Co. LLC/PBF Finance Corp., 6.00%, 2/15/28 | 3699000 | 3679358 |
| PBF Holding Co. LLC/PBF Finance Corp., 7.875%, 9/15/30<sup>(1)</sup> | 1025000 | 1012894 |
| Permian Resources Operating LLC, 8.00%, 4/15/27<sup>(1)</sup> | 1000000 | 1016257 |
| Permian Resources Operating LLC, 5.875%, 7/1/29<sup>(1)</sup> | 1556000 | 1564132 |
| Prairie Acquiror LP, 9.00%, 8/1/29<sup>(1)</sup> | 1275000 | 1328352 |
| Range Resources Corp., 8.25%, 1/15/29 | 845000 | 865467 |
| Rockies Express Pipeline LLC, 4.95%, 7/15/29<sup>(1)</sup> | 700000 | 694878 |
| Rockies Express Pipeline LLC, 4.80%, 5/15/30<sup>(1)</sup> | 645000 | 630238 |
| Rockies Express Pipeline LLC, 6.875%, 4/15/40<sup>(1)</sup> | 1400000 | 1441873 |
| Saturn Oil & Gas, Inc., 9.625%, 6/15/29<sup>(1)</sup> | 10000 | 10368 |
| SM Energy Co., 6.50%, 7/15/28 | 1300000 | 1309416 |
| SM Energy Co., 6.75%, 8/1/29<sup>(1)</sup> | 1250000 | 1256966 |
| South Bow Canadian Infrastructure Holdings Ltd., VRN, 7.50%, 3/1/55 | 850000 | 903196 |
| South Bow Canadian Infrastructure Holdings Ltd., VRN, 7.625%, 3/1/55 | 1075000 | 1123982 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 350000 | 362648 |
| Sunoco LP, 5.625%, 3/15/31<sup>(1)</sup> | 1050000 | 1042910 |
| Sunoco LP, 6.25%, 7/1/33<sup>(1)</sup> | 1550000 | 1578779 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 1150000 | 1140762 |
| Sunoco LP/Sunoco Finance Corp., 6.00%, 4/15/27 | 1375000 | 1375452 |
| Sunoco LP/Sunoco Finance Corp., 7.00%, 9/15/28<sup>(1)</sup> | 1125000 | 1160621 |
| Sunoco LP/Sunoco Finance Corp., 4.50%, 4/30/30 | 1675000 | 1614042 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 7.375%, 2/15/29<sup>(1)</sup> | 1300000 | 1339764 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 12/31/30<sup>(1)</sup> | 850000 | 840029 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 9/1/31<sup>(1)</sup> | 1175000 | 1150492 |
| Talos Production, Inc., 9.00%, 2/1/29<sup>(1)</sup> | 750000 | 776072 |
| Talos Production, Inc., 9.375%, 2/1/31<sup>(1)</sup> | 2485000 | 2590168 |
| Targa Resources Corp., 4.95%, 4/15/52 | 600000 | 514166 |
| Targa Resources Corp., 6.50%, 2/15/53 | 600000 | 632108 |
| Targa Resources Corp., 6.125%, 5/15/55 | 800000 | 805053 |
| Teine Energy Ltd., 6.875%, 4/15/29<sup>(1)</sup> | 1350000 | 1333191 |
| TransMontaigne Partners LLC, 8.50%, 6/15/30<sup>(1)</sup> | 1100000 | 1147108 |
| Venture Global Calcasieu Pass LLC, 6.25%, 1/15/30<sup>(1)</sup> | 1600000 | 1669712 |
| Venture Global Calcasieu Pass LLC, 4.125%, 8/15/31<sup>(1)</sup> | 1700000 | 1605689 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 1549000 | 1604408 |
| Venture Global LNG, Inc., 9.50%, 2/1/29<sup>(1)</sup> | 3400000 | 3749010 |
| Venture Global LNG, Inc., 8.375%, 6/1/31<sup>(1)</sup> | 1500000 | 1576013 |
| Venture Global LNG, Inc., 9.875%, 2/1/32<sup>(1)</sup> | 2200000 | 2396566 |
| Venture Global Plaquemines LNG LLC, 7.50%, 5/1/33<sup>(1)</sup> | 900000 | 995072 |
| Venture Global Plaquemines LNG LLC, 6.50%, 1/15/34<sup>(1)</sup> | 5625000 | 5924713 |
| Venture Global Plaquemines LNG LLC, 7.75%, 5/1/35<sup>(1)</sup> | 500000 | 564667 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 3675000 | 3905797 |
| Vermilion Energy, Inc., 6.875%, 5/1/30<sup>(1)</sup> | 1300000 | 1269962 |
| Vermilion Energy, Inc., 7.25%, 2/15/33<sup>(1)</sup> | 350000 | 331067 |
| Vital Energy, Inc., 7.75%, 7/31/29<sup>(1)</sup> | 1400000 | 1387547 |
| Vital Energy, Inc., 9.75%, 10/15/30 | 775000 | 809761 |
| Vital Energy, Inc., 7.875%, 4/15/32<sup>(1)</sup> | 1545000 | 1500847 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Western Midstream Operating LP, 5.45%, 4/1/44 | $300000 | $272234 |
| Western Midstream Operating LP, 5.30%, 3/1/48 | 270000 | 235148 |
| Western Midstream Operating LP, 5.50%, 8/15/48 | 300000 | 267340 |
|  |  | 190544494 |
| **Paper and Forest Products — 0.1%** |  |  |
| Domtar Corp., 6.75%, 10/1/28<sup>(1)</sup> | 1138000 | 981859 |
| Magnera Corp., 4.75%, 11/15/29<sup>(1)</sup> | 471000 | 417397 |
| Magnera Corp., 7.25%, 11/15/31<sup>(1)</sup> | 275000 | 258978 |
| Mercer International, Inc., 12.875%, 10/1/28<sup>(1)</sup> | 375000 | 341740 |
| Mercer International, Inc., 5.125%, 2/1/29 | 900000 | 664178 |
|  |  | 2664152 |
| **Passenger Airlines — 1.0%** |  |  |
| Allegiant Travel Co., 7.25%, 8/15/27<sup>(1)</sup> | 775000 | 785298 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 1750000 | 1794257 |
| American Airlines, Inc., 8.50%, 5/15/29<sup>(1)</sup> | 2475000 | 2583351 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 756250 | 757226 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 4/20/29<sup>(1)</sup> | 4725000 | 4746619 |
| CHC Group LLC, 11.75%, 9/1/30<sup>(1)</sup> | 1100000 | 1085673 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 4621000 | 4690902 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 1075000 | 1119827 |
| Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00% Cash plus 4.00% PIK, 3/12/30<sup>(1)(3)</sup> | 719628 | 306288 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 1275000 | 1256441 |
|  |  | 19125882 |
| **Personal Care Products — 0.2%** |  |  |
| BellRing Brands, Inc., 7.00%, 3/15/30<sup>(1)</sup> | 2950000 | 3049728 |
| **Pharmaceuticals — 1.6%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 7225000 | 7411709 |
| Amneal Pharmaceuticals LLC, 6.875%, 8/1/32<sup>(1)</sup> | 825000 | 854256 |
| Bausch Health Americas, Inc., 8.50%, 1/31/27<sup>(1)</sup> | 2485000 | 2462511 |
| Bausch Health Cos., Inc., 7.00%, 1/15/28<sup>(1)</sup> | 2488000 | 2220080 |
| Bausch Health Cos., Inc., 5.00%, 1/30/28<sup>(1)</sup> | 1350000 | 1159758 |
| Bausch Health Cos., Inc., 4.875%, 6/1/28<sup>(1)</sup> | 700000 | 627113 |
| Bausch Health Cos., Inc., 11.00%, 9/30/28<sup>(1)</sup> | 2625000 | 2732465 |
| Bausch Health Cos., Inc., 6.25%, 2/15/29<sup>(1)</sup> | 500000 | 390863 |
| Bausch Health Cos., Inc., 7.25%, 5/30/29<sup>(1)</sup> | 1075000 | 850801 |
| Bausch Health Cos., Inc., 5.25%, 1/30/30<sup>(1)</sup> | 1225000 | 864752 |
| Bausch Health Cos., Inc., 14.00%, 10/15/30<sup>(1)</sup> | 300000 | 301032 |
| Bausch Health Cos., Inc., 5.25%, 2/15/31<sup>(1)</sup> | 550000 | 360665 |
| Endo Finance Holdings, Inc., 8.50%, 4/15/31<sup>(1)</sup> | 400000 | 429648 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 4.125%, 4/30/28<sup>(1)</sup> | 2275000 | 2199885 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 5.125%, 4/30/31<sup>(1)</sup> | 3075000 | 2696295 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 6.75%, 5/15/34<sup>(1)</sup> | 600000 | 576082 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 7.875%, 5/15/34<sup>(1)</sup> | 600000 | 556591 |
| P&L Development LLC/PLD Finance Corp., 9.00% Cash plus 3.50% PIK, 5/15/29<sup>(1)</sup> | 770677 | 798398 |
| Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc., 8.75%, 4/17/32<sup>(1)</sup> | 700000 | 680750 |
| Perrigo Finance Unlimited Co., 6.125%, 9/30/32 | 625000 | 629709 |
| Prestige Brands, Inc., 5.125%, 1/15/28<sup>(1)</sup> | 800000 | 794186 |
| Prestige Brands, Inc., 3.75%, 4/1/31<sup>(1)</sup> | 1125000 | 1037053 |
|  |  | 30634602 |
| **Professional Services — 0.3%** |  |  |
| Amentum Holdings, Inc., 7.25%, 8/1/32<sup>(1)</sup> | 1025000 | 1065140 |
| AMN Healthcare, Inc., 4.00%, 4/15/29<sup>(1)</sup> | 2325000 | 2194821 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| AMN Healthcare, Inc., 6.50%, 1/15/31<sup>(1)(2)</sup> | $550000 | $552043 |
| Concentra Health Services, Inc., 6.875%, 7/15/32<sup>(1)</sup> | 1700000 | 1767375 |
| Science Applications International Corp., 5.875%, 11/1/33<sup>(1)</sup> | 125000 | 125117 |
|  |  | 5704496 |
| **Real Estate Management and Development — 1.0%** |  |  |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 5.75%, 1/15/29<sup>(1)</sup> | 2093000 | 2019431 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 5.25%, 4/15/30<sup>(1)</sup> | 900000 | 840917 |
| Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp., 7.00%, 4/15/30<sup>(1)</sup> | 3793600 | 3842186 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 9.75%, 4/15/30<sup>(1)</sup> | 1000000 | 1092193 |
| Arbor Realty SR, Inc., 7.875%, 7/15/30<sup>(1)</sup> | 1250000 | 1314840 |
| Cushman & Wakefield U.S. Borrower LLC, 6.75%, 5/15/28<sup>(1)</sup> | 800000 | 807909 |
| Cushman & Wakefield U.S. Borrower LLC, 8.875%, 9/1/31<sup>(1)</sup> | 600000 | 640867 |
| Five Point Operating Co. LP, 8.00%, 10/1/30<sup>(1)</sup> | 1250000 | 1269245 |
| Forestar Group, Inc., 5.00%, 3/1/28<sup>(1)</sup> | 1350000 | 1338412 |
| Howard Hughes Corp., 5.375%, 8/1/28<sup>(1)</sup> | 2800000 | 2791214 |
| Howard Hughes Corp., 4.125%, 2/1/29<sup>(1)</sup> | 1625000 | 1560215 |
| Kennedy-Wilson, Inc., 4.75%, 2/1/30 | 2025000 | 1892626 |
|  |  | 19410055 |
| **Semiconductors and Semiconductor Equipment — 0.4%** |  |  |
| Amkor Technology, Inc., 6.625%, 9/15/27<sup>(1)</sup> | 448000 | 449317 |
| Amkor Technology, Inc., 5.875%, 10/1/33<sup>(1)</sup> | 400000 | 404573 |
| ams-OSRAM AG, 12.25%, 3/30/29<sup>(1)</sup> | 450000 | 484687 |
| Kioxia Holdings Corp., 6.25%, 7/24/30<sup>(1)</sup> | 1800000 | 1838041 |
| Kioxia Holdings Corp., 6.625%, 7/24/33<sup>(1)</sup> | 875000 | 900510 |
| ON Semiconductor Corp., 3.875%, 9/1/28<sup>(1)</sup> | 1850000 | 1797759 |
| Synaptics, Inc., 4.00%, 6/15/29<sup>(1)</sup> | 1138000 | 1090241 |
|  |  | 6965128 |
| **Software — 2.9%** |  |  |
| Camelot Finance SA, 4.50%, 11/1/26<sup>(1)</sup> | 179000 | 178498 |
| Castle U.S. Holding Corp., 10.00%, 6/30/31<sup>(1)</sup> | 2161000 | 378175 |
| Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc., 8.00%, 6/15/29<sup>(1)</sup> | 996000 | 878976 |
| Central Parent, Inc./CDK Global, Inc., 7.25%, 6/15/29<sup>(1)</sup> | 940000 | 812917 |
| Cloud Software Group, Inc., 6.50%, 3/31/29<sup>(1)</sup> | 7700000 | 7777926 |
| Cloud Software Group, Inc., 9.00%, 9/30/29<sup>(1)</sup> | 10200000 | 10591082 |
| Cloud Software Group, Inc., 8.25%, 6/30/32<sup>(1)</sup> | 550000 | 584022 |
| Elastic NV, 4.125%, 7/15/29<sup>(1)</sup> | 1300000 | 1249415 |
| Ellucian Holdings, Inc., 6.50%, 12/1/29<sup>(1)</sup> | 1075000 | 1094799 |
| Gen Digital, Inc., 6.75%, 9/30/27<sup>(1)</sup> | 975000 | 990816 |
| Gen Digital, Inc., 7.125%, 9/30/30<sup>(1)</sup> | 1975000 | 2035949 |
| Gen Digital, Inc., 6.25%, 4/1/33<sup>(1)</sup> | 350000 | 358183 |
| GoTo Group, Inc., 5.50%, 5/1/28<sup>(1)</sup> | 1250480 | 407969 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 4.625%, 5/1/28<sup>(1)</sup> | 500000 | 485244 |
| Helios Software Holdings, Inc./ION Corporate Solutions Finance SARL, 8.75%, 5/1/29<sup>(1)</sup> | 1000000 | 1037642 |
| Open Text Corp., 3.875%, 2/15/28<sup>(1)</sup> | 1225000 | 1192607 |
| Open Text Corp., 3.875%, 12/1/29<sup>(1)</sup> | 1875000 | 1774613 |
| Open Text Holdings, Inc., 4.125%, 2/15/30<sup>(1)</sup> | 1900000 | 1802239 |
| Open Text Holdings, Inc., 4.125%, 12/1/31<sup>(1)</sup> | 3025000 | 2800302 |
| Pagaya U.S. Holdings Co. LLC, 8.875%, 8/1/30<sup>(1)</sup> | 650000 | 606865 |
| Rocket Software, Inc., 9.00%, 11/28/28<sup>(1)</sup> | 2375000 | 2451777 |
| Rocket Software, Inc., 6.50%, 2/15/29<sup>(1)</sup> | 525000 | 511917 |
| SS&C Technologies, Inc., 5.50%, 9/30/27<sup>(1)</sup> | 3945000 | 3942327 |
| SS&C Technologies, Inc., 6.50%, 6/1/32<sup>(1)</sup> | 4125000 | 4269281 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Synopsys, Inc., 5.70%, 4/1/55 | $1250000 | $1262433 |
| UKG, Inc., 6.875%, 2/1/31<sup>(1)</sup> | 3175000 | 3278473 |
| X.AI LLC/X.AI Co. Issuer Corp., 12.50%, 6/30/30 (Acquired 7/10/25 - 9/15/25, Cost $2,689,871) <sup>(7)</sup> | 2696000 | 2834030 |
|  |  | 55588477 |
| **Specialized REITs — 0.8%** |  |  |
| Iron Mountain, Inc., 5.25%, 3/15/28<sup>(1)</sup> | 2350000 | 2347796 |
| Iron Mountain, Inc., 5.00%, 7/15/28<sup>(1)</sup> | 1050000 | 1044407 |
| Iron Mountain, Inc., 5.25%, 7/15/30<sup>(1)</sup> | 4200000 | 4156369 |
| Iron Mountain, Inc., 4.50%, 2/15/31<sup>(1)</sup> | 2650000 | 2532051 |
| Iron Mountain, Inc., 6.25%, 1/15/33<sup>(1)</sup> | 1850000 | 1888415 |
| Millrose Properties, Inc., 6.375%, 8/1/30<sup>(1)</sup> | 2350000 | 2391736 |
| Millrose Properties, Inc., 6.25%, 9/15/32<sup>(1)</sup> | 1025000 | 1028320 |
|  |  | 15389094 |
| **Specialty Retail — 2.5%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 1100000 | 1132569 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> | 1975000 | 2038210 |
| Asbury Automotive Group, Inc., 4.50%, 3/1/28 | 645000 | 637616 |
| Asbury Automotive Group, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 825000 | 801333 |
| Asbury Automotive Group, Inc., 5.00%, 2/15/32<sup>(1)</sup> | 350000 | 336347 |
| Bath & Body Works, Inc., 6.625%, 10/1/30<sup>(1)</sup> | 1625000 | 1663556 |
| Bath & Body Works, Inc., 6.75%, 7/1/36 | 1950000 | 2009479 |
| Carvana Co., 9.00%, 6/1/30<sup>(1)</sup> | 871500 | 912423 |
| Carvana Co., 9.00%, 6/1/31<sup>(1)</sup> | 2080526 | 2357169 |
| Ferrellgas LP/Ferrellgas Finance Corp., 5.375%, 4/1/26<sup>(1)</sup> | 2825000 | 2798640 |
| Ferrellgas LP/Ferrellgas Finance Corp., 5.875%, 4/1/29<sup>(1)</sup> | 3500000 | 3259959 |
| Gap, Inc., 3.625%, 10/1/29<sup>(1)</sup> | 1125000 | 1054025 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.375%, 1/15/29<sup>(1)</sup> | 1675000 | 1640222 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 11.50%, 8/15/29<sup>(1)</sup> | 1000000 | 1055860 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.75%, 1/15/32<sup>(1)</sup> | 1266000 | 1232160 |
| LBM Acquisition LLC, 6.25%, 1/15/29<sup>(1)</sup> | 2975000 | 2756590 |
| Lithia Motors, Inc., 4.625%, 12/15/27<sup>(1)</sup> | 1525000 | 1511137 |
| Lithia Motors, Inc., 3.875%, 6/1/29<sup>(1)</sup> | 2725000 | 2604897 |
| Lithia Motors, Inc., 5.50%, 10/1/30<sup>(1)</sup> | 400000 | 399798 |
| Michaels Cos., Inc., 5.25%, 5/1/28<sup>(1)</sup> | 1350000 | 1249302 |
| Michaels Cos., Inc., 7.875%, 5/1/29<sup>(1)</sup> | 800000 | 672000 |
| Murphy Oil USA, Inc., 4.75%, 9/15/29 | 1025000 | 1012121 |
| Murphy Oil USA, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 425000 | 395874 |
| Park River Holdings, Inc., 5.625%, 2/1/29<sup>(1)</sup> | 600000 | 590953 |
| Park River Holdings, Inc., 6.75%, 8/1/29<sup>(1)</sup> | 575000 | 569994 |
| Park River Holdings, Inc., 8.00%, 3/15/31<sup>(1)(2)</sup> | 775000 | 785338 |
| PetSmart LLC/PetSmart Finance Corp., 7.50%, 9/15/32<sup>(1)</sup> | 1075000 | 1079285 |
| PetSmart LLC/PetSmart Finance Corp., 10.00%, 9/15/33<sup>(1)</sup> | 2650000 | 2680895 |
| Sonic Automotive, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 920000 | 894152 |
| Sonic Automotive, Inc., 4.875%, 11/15/31<sup>(1)</sup> | 475000 | 454559 |
| Staples, Inc., 10.75%, 9/1/29<sup>(1)</sup> | 2500000 | 2484424 |
| Staples, Inc., 12.75%, 1/15/30<sup>(1)</sup> | 2681296 | 2165942 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 6/1/31<sup>(1)</sup> | 875000 | 833118 |
| Superior Plus LP/Superior General Partner, Inc., 4.50%, 3/15/29<sup>(1)</sup> | 975000 | 941428 |
| White Cap Buyer LLC, 6.875%, 10/15/28<sup>(1)</sup> | 1000000 | 997940 |
|  |  | 48009315 |
| **Technology Hardware, Storage and Peripherals — 0.5%** |  |  |
| Diebold Nixdorf, Inc., 7.75%, 3/31/30<sup>(1)</sup> | 750000 | 793023 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Hewlett Packard Enterprise Co., 5.60%, 10/15/54 | $425000 | $406738 |
| NCR Voyix Corp., 5.00%, 10/1/28<sup>(1)</sup> | 1350000 | 1331313 |
| NCR Voyix Corp., 5.125%, 4/15/29<sup>(1)</sup> | 754000 | 742773 |
| Seagate Data Storage Technology Pte. Ltd., 4.09%, 6/1/29<sup>(1)</sup> | 450000 | 436468 |
| Seagate Data Storage Technology Pte. Ltd., 5.875%, 7/15/30<sup>(1)</sup> | 1400000 | 1427882 |
| Seagate Data Storage Technology Pte. Ltd., 4.125%, 1/15/31<sup>(1)</sup> | 1760000 | 1633607 |
| Seagate Data Storage Technology Pte. Ltd., 9.625%, 12/1/32<sup>(1)</sup> | 2145000 | 2431476 |
| Xerox Holdings Corp., 5.50%, 8/15/28<sup>(1)</sup> | 725000 | 427762 |
| Xerox Holdings Corp., 8.875%, 11/30/29<sup>(1)</sup> | 200000 | 109050 |
| Xerox Issuer Corp., 13.50%, 4/15/31<sup>(1)</sup> | 675000 | 654125 |
|  |  | 10394217 |
| **Textiles, Apparel and Luxury Goods — 0.4%** |  |  |
| Beach Acquisition Bidco LLC, 10.00% Cash or 10.75% PIK, 7/15/33<sup>(1)</sup> | 3050000 | 3297544 |
| Crocs, Inc., 4.25%, 3/15/29<sup>(1)</sup> | 925000 | 887764 |
| Crocs, Inc., 4.125%, 8/15/31<sup>(1)</sup> | 1325000 | 1215757 |
| Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, 7.50%, 12/30/25<sup>(1)</sup> | 933750 | 616275 |
| S&S Holdings LLC, 8.375%, 10/1/31<sup>(1)</sup> | 975000 | 956713 |
| VF Corp., 6.00%, 10/15/33 | 750000 | 722987 |
|  |  | 7697040 |
| **Trading Companies and Distributors — 0.7%** |  |  |
| Alta Equipment Group, Inc., 9.00%, 6/1/29<sup>(1)</sup> | 975000 | 910956 |
| Foundation Building Materials, Inc., 6.00%, 3/1/29<sup>(1)</sup> | 1900000 | 1927049 |
| FTAI Aviation Investors LLC, 5.50%, 5/1/28<sup>(1)</sup> | 1275000 | 1276325 |
| FTAI Aviation Investors LLC, 7.875%, 12/1/30<sup>(1)</sup> | 350000 | 372233 |
| FTAI Aviation Investors LLC, 7.00%, 5/1/31<sup>(1)</sup> | 2200000 | 2303341 |
| FTAI Aviation Investors LLC, 7.00%, 6/15/32<sup>(1)</sup> | 2925000 | 3063636 |
| FTAI Aviation Investors LLC, 5.875%, 4/15/33<sup>(1)</sup> | 1900000 | 1913646 |
| Herc Holdings, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 575000 | 591245 |
| QXO Building Products, Inc., 6.75%, 4/30/32<sup>(1)</sup> | 1125000 | 1167633 |
|  |  | 13526064 |
| **Transportation Infrastructure — 0.1%** |  |  |
| Beacon Mobility Corp., 7.25%, 8/1/30<sup>(1)</sup> | 675000 | 702273 |
| Seaspan Corp., 5.50%, 8/1/29<sup>(1)</sup> | 1175000 | 1134010 |
| Star Leasing Co. LLC, 7.625%, 2/15/30<sup>(1)</sup> | 775000 | 753844 |
|  |  | 2590127 |
| **Water Utilities — 0.1%** |  |  |
| Aris Water Holdings LLC, 7.25%, 4/1/30<sup>(1)</sup> | 1200000 | 1267828 |
| **Wireless Telecommunication Services — 0.7%** |  |  |
| C&W Senior Finance Ltd., 9.00%, 1/15/33<sup>(1)</sup> | 1200000 | 1256361 |
| Digicel Group Holdings Ltd., Series 1B14, 0.00%, 12/31/30<sup>(1)(5)</sup> | 682295 | 51172 |
| Digicel Group Holdings Ltd., Series 3B14, 0.00%, 12/31/30<sup>(1)(5)</sup> | 174996 | 5250 |
| Digicel International Finance Ltd./Difl U.S. LLC, 8.625%, 8/1/32<sup>(1)</sup> | 2000000 | 2057737 |
| Rogers Communications, Inc., VRN, 7.00%, 4/15/55 | 325000 | 339300 |
| Rogers Communications, Inc., VRN, 7.125%, 4/15/55 | 650000 | 689374 |
| Vmed O2 U.K. Financing I PLC, 4.25%, 1/31/31<sup>(1)</sup> | 2350000 | 2180496 |
| Vmed O2 U.K. Financing I PLC, 4.75%, 7/15/31<sup>(1)</sup> | 3300000 | 3108175 |
| Vmed O2 U.K. Financing I PLC, 7.75%, 4/15/32<sup>(1)</sup> | 800000 | 841510 |
| Vodafone Group PLC, VRN, 7.00%, 4/4/79 | 1575000 | 1666083 |
| Zegona Finance PLC, 8.625%, 7/15/29<sup>(1)</sup> | 1439000 | 1534449 |
|  |  | 13729907 |
| **TOTAL CORPORATE BONDS**<br>(Cost $1,831,284,189) |  | **1834204220** |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
|<br>**BANK LOAN OBLIGATIONS**<sup>(8)</sup> **— 1.5%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Building Products — 0.0%** |  |  |
| CP Atlas Buyer, Inc., 2025 Term Loan, 9.41%, (1-month SOFR plus 5.25%), 7/8/30 | $750000 | $736875 |
| **Chemicals — 0.0%** |  |  |
| Polar U.S. Borrower LLC, 2024 Term Loan B1B, 9.16% Cash plus 0.75% PIK, 10/16/28 | 1128364 | 169255 |
| **Construction Materials — 0.1%** |  |  |
| Quikrete Holdings, Inc., 2025 Term Loan B, 6.41%, (1-month SOFR plus 2.25%), 2/10/32 | 1492500 | 1493261 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Windstream Services LLC, 2024 Term Loan B, 9.01%, (1-month SOFR plus 4.75%), 10/1/31 | 475000 | 475594 |
| **Entertainment — 0.0%** |  |  |
| Allen Media LLC, 2021 Term Loan B, 9.65%, (3-month SOFR plus 5.50%), 2/10/27 | 819409 | 587516 |
| **Food Products — 0.2%** |  |  |
| Northeast Grocery, Inc., Term Loan B, 11.69%, (3-month SOFR plus 7.50%), 12/13/28 | 2860893 | 2887127 |
| **Ground Transportation — 0.0%** |  |  |
| Vortex Opco LLC, First Out Term Loan, 10.25%, (3-month SOFR plus 6.25%), 4/30/30 | 280800 | 283468 |
| **Health Care Providers and Services — 0.0%** |  |  |
| MPH Acquisition Holdings LLC, 2025 Exchange 1st Out Term Loan, 8.06%, (3-month SOFR plus 3.75%), 12/31/30 | 338295 | 338295 |
| **Independent Power and Renewable Electricity Producers — 0.1%** |  |  |
| Lightning Power LLC, Term Loan B, 6.25%, (3-month SOFR plus 2.25%), 8/18/31 | 1113750 | 1114240 |
| **IT Services — 0.6%** |  |  |
| Amentum Government Services Holdings LLC, 2024 Term Loan B, 6.41%, (1-month SOFR plus 2.25%), 9/29/31 | 1539048 | 1540733 |
| Twitter, Inc., 2025 Fixed Term Loan, 9.50%, 10/26/29 | 8850000 | 8889958 |
| Vericast Corp., 2024 Extended Term Loan, 11.62%, (6-month SOFR plus 7.75%), 6/15/30 | 968206 | 942384 |
|  |  | 11373075 |
| **Media — 0.1%** |  |  |
| iHeartCommunications, Inc., 2024 Term Loan, 5/1/29<sup>(9)</sup> | 2250000 | 1971562 |
| Univision Communications, Inc., 2022 First Lien Term Loan B, 8.25%, (3-month SOFR plus 4.25%), 6/24/29 | 72562 | 72733 |
|  |  | 2044295 |
| **Paper and Forest Products — 0.1%** |  |  |
| Glatfelter Corp., Term Loan B, 8.45%, (3-month SOFR plus 4.25%), 11/4/31 | 1443524 | 1434141 |
| **Passenger Airlines — 0.1%** |  |  |
| WestJet Loyalty LP, Term Loan B, 7.25%, (3-month SOFR plus 3.25%), 2/14/31 | 2115405 | 2120513 |
| **Pharmaceuticals — 0.1%** |  |  |
| Bausch Health Cos., Inc., 2025 Term Loan B, 10.41%, (1-month SOFR plus 6.25%), 10/8/30 | 798000 | 788272 |
| Paradigm Parent LLC, 1st Lien Term Loan, 8.82%, (3-month SOFR plus 4.50%), 4/16/32 | 2000000 | 1799690 |
|  |  | 2587962 |
| **Textiles, Apparel and Luxury Goods — 0.1%** |  |  |
| Beach Acquisition Bidco LLC, USD Term Loan B, 7.31%, (3-month SOFR plus 3.25%), 9/12/32 | 975000 | 980894 |
| **TOTAL BANK LOAN OBLIGATIONS**<br>(Cost $29,405,504) |  | **28626511** |
| **PREFERRED SECURITIES — 1.0%** |  |  |
| **Capital Markets — 0.1%** |  |  |
| Goldman Sachs Group, Inc., 7.56% | 1025000 | 1031675 |
| **Consumer Finance — 0.1%** |  |  |
| Ally Financial, Inc., 4.70% | 1700000 | 1658337 |
| **Electric Utilities — 0.1%** |  |  |
| Electricite de France SA, 9.125%<sup>(1)</sup> | 400000 | 464089 |
| NRG Energy, Inc., 10.25%<sup>(1)</sup> | 2025000 | 2213671 |
|  |  | 2677760 |
| **Independent Power and Renewable Electricity Producers — 0.3%** |  |  |
| Vistra Corp., 7.00%<sup>(1)</sup> | 3435000 | 3489960 |
| Vistra Corp., 8.00%<sup>(1)</sup> | 3034000 | 3105642 |
|  |  | 6595602 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 0.3%** |  |  |
| Plains All American Pipeline LP, 8.58% | 1125000 | $1128408 |
| Sunoco LP, 7.875%<sup>(1)</sup> | 4150000 | 4217873 |
|  |  | 5346281 |
| **Software — 0.1%** |  |  |
| Strategy, Inc., 10.00% | 20800 | 1637168 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $18,043,506) |  | **18946823** |
| **COMMON STOCKS — 0.3%** |  |  |
| **Building Products — 0.0%** |  |  |
| Hardwood Holdings LLC (Acquired 4/27/21, Cost $12,630)<sup>(4)(7)</sup> | 1684 | 20629 |
| **Chemicals — 0.0%** |  |  |
| Cornerstone Chemical Co. (Acquired 1/11/24, Cost $54,814)<sup>(4)(7)</sup> | 15661 | 157 |
| **Consumer Finance — 0.0%** |  |  |
| Curo Group Holdings LLC<sup>(4)</sup> | 14289 | 110740 |
| **Consumer Staples Distribution & Retail — 0.0%** |  |  |
| Rite Aid Corp. (Acquired 9/4/24, Cost $77,100)<sup>(4)(7)</sup> | 1028 | 519 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Intelsat SA<sup>(4)</sup> | 32375 | 11331 |
| SES SA | 32375 | 445156 |
|  |  | 456487 |
| **Financial Services — 0.0%** |  |  |
| XBP Global Holdings, Inc.<sup>(4)</sup> | 207484 | 167440 |
| **Gas Utilities — 0.0%** |  |  |
| Ferrellgas Partners LP, Class B<sup>(4)</sup> | 364 | 56420 |
| **Health Care Providers and Services — 0.0%** |  |  |
| Air Methods Corp. (Acquired 2/20/24, Cost $26,325)<sup>(4)(7)</sup> | 1080 | 63180 |
| **IT Services — 0.2%** |  |  |
| Carnelian Point Holdings LP (Acquired 2/3/15 - 4/27/21, Cost $5,024,155)<sup>(4)(7)</sup> | 2222 | 19531 |
| Carnelian Point Holdings LP (Acquired 6/3/24, Cost $3,259,445)<sup>(4)(7)</sup> | 235339 | 2068630 |
| Carnelian Point Holdings LP (Acquired 6/3/24, Cost $2,079,979)<sup>(4)(7)</sup> | 150179 | 1320074 |
|  |  | 3408235 |
| **Machinery — 0.0%** |  |  |
| UC Holdings, Inc. (Acquired 9/21/15 - 4/1/23, Cost $115,380)<sup>(4)(7)</sup> | 11932 | 119 |
| **Media — 0.0%** |  |  |
| Audacy, Inc. (Acquired 10/1/24, Cost $15,056)<sup>(4)(7)</sup> | 941 | 14350 |
| TPC Holdings, Inc., A Shares (Acquired 11/16/22, Cost $97,580)<sup>(4)(7)</sup> | 7517 | 180878 |
|  |  | 195228 |
| **Metals and Mining — 0.0%** |  |  |
| Petra Diamonds Ltd.<sup>(4)</sup> | 108200 | 27427 |
| **Passenger Airlines — 0.0%** |  |  |
| Spirit Aviation Holdings, Inc.<sup>(4)</sup> | 27834 | 10577 |
| **Pharmaceuticals — 0.1%** |  |  |
| Mallinckrodt PLC (Acquired 12/1/23, Cost $329,954)<sup>(4)(7)</sup> | 8683 | 862873 |
| Mallinckrodt PLC (Acquired 8/1/25, Cost $1,314,398)<sup>(4)(7)</sup> | 14365 | 1427522 |
|  |  | 2290395 |
| **TOTAL COMMON STOCKS**<br>(Cost $15,428,994) |  | **6807553** |
| **CONVERTIBLE PREFERRED SECURITIES — 0.1%** |  |  |
| **Banks — 0.1%** |  |  |
| Barclays PLC, 9.625%<br>(Cost $1,000,000) | 1000000 | **1137072** |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
|<br>**CONVERTIBLE BONDS — 0.0%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Uniti Group, Inc., 7.50%, 12/1/27 | $475000 | $514392 |
| **Media — 0.0%** |  |  |
| Liberty Interactive LLC, 3.75%, 2/15/30 | 100000 | 9250 |
| **TOTAL CONVERTIBLE BONDS**<br>(Cost $584,332) |  | **523642** |
| **ESCROW INTERESTS**<sup>(10)</sup> **— 0.0%** |  |  |
| **Banks — 0.0%** |  |  |
| Washington Mutual, Inc.<sup>(4)</sup> | 250000 | 4125 |
| **Chemicals — 0.0%** |  |  |
| PTT Global Chemical PCL<sup>(4)</sup> | 4425000 | 2213 |
| **Consumer Staples Distribution & Retail — 0.0%** |  |  |
| Rite Aid Corp.<sup>(4)</sup> | 205706 | 21 |
| Rite Aid Corp.<sup>(4)</sup> | 70050 | 38 |
| Rite Aid Corp.<sup>(4)</sup> | 1131000 | 113 |
|  |  | 172 |
| **Electric Utilities — 0.0%** |  |  |
| GenOn Energy, Inc.<sup>(4)</sup> | 450000 |  |
| RRI Energy, Inc.<sup>(4)</sup> | 75000 |  |
| **Ground Transportation — 0.0%** |  |  |
| Hertz Corp.<sup>(4)</sup> | 1075000 | 172000 |
| **Oil, Gas and Consumable Fuels — 0.0%** |  |  |
| Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp.<sup>(4)</sup> | 950000 | 5700 |
| Parkland Corp.<sup>(4)</sup> | 1325000 | 663 |
| Parkland Corp.<sup>(4)</sup> | 750000 | 375 |
| Sanchez Energy Corp.<sup>(4)</sup> | 3990000 | 11371 |
| Sanchez Energy Corp.<sup>(4)</sup> | 2225000 | 6341 |
|  |  | 24450 |
| **Paper and Forest Products — 0.0%** |  |  |
| Appvion<sup>(4)</sup> | 200000 |  |
| **Pharmaceuticals — 0.0%** |  |  |
| Endo GUC Trust<sup>(4)</sup> | 421757 | 4218 |
| Endo Luxembourg Finance SARL<sup>(4)</sup> | 1350000 | 135 |
| Par Pharmaceutical, Inc.<sup>(4)</sup> | 3281000 | 328 |
|  |  | 4681 |
| **TOTAL ESCROW INTERESTS**<br>(Cost $5,442,992) |  | **207641** |
| **WARRANTS — 0.0%** |  |  |
| **Consumer Finance — 0.0%** |  |  |
| Curo Group Holdings LLC<sup>(4)</sup> | 24966 | 29043 |
| **Health Care Providers and Services — 0.0%** |  |  |
| Air Methods Corp.<sup>(4)</sup> | 6000 | 26297 |
| Air Methods Corp.<sup>(4)</sup> | 2842 | 5413 |
|  |  | 31710 |
| **Media — 0.0%** |  |  |
| Audacy Capital Corp.<sup>(4)</sup> | 190 | 7 |
| Audacy Capital Corp.<sup>(4)</sup> | 1140 | 44 |
|  |  | 51 |
| **TOTAL WARRANTS**<br>(Cost $—) |  | **60804** |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
|<br>**SHORT-TERM INVESTMENTS — 0.8%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Money Market Funds — 0.8%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class<br>(Cost $14,977,877) | 14977877 | $**14977877** |
| **TOTAL INVESTMENT SECURITIES — 99.7%**<br>(Cost $1,916,167,394) |  | **1905492143** |
| **OTHER ASSETS AND LIABILITIES — 0.3%** |  | **5471867** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1910964010** |

---

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| PIK | – | Payment in Kind. Security may elect to pay a cash rate and/or an in kind rate. |
| SOFR | – | Secured Overnight Financing Rate |
| USD | – | United States Dollar |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $1,562,587,100, which represented 81.8% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security is in default.

(4)Non-income producing.

(5)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(6)Maturity is in default.

(7)Restricted security that may not be offered for public sale without being registered with the Securities and Exchange Commission and/or may be subject to resale, redemption or transferability restrictions. The aggregate value of these securities at the period end was $8,812,492, which represented 0.5% of total net assets.

(8)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(9)The interest rate will be determined upon settlement of the bank loan obligation after period end.

(10)Escrow interests represent beneficial interests in bankruptcy reorganizations or liquidation proceedings and may be subject to resale, redemption, or transferability restrictions. The amount and timing of future payments, if any, cannot be predicted with certainty.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $1834204220 |  |
| Bank Loan Obligations |  | 28626511 |  |
| Preferred Securities | $1637168 | 17309655 |  |
| Common Stocks | 205444 | 6602109 |  |
| Convertible Preferred Securities |  | 1137072 |  |
| Convertible Bonds |  | 523642 |  |
| Escrow Interests |  | 207641 |  |
| Warrants |  | 60804 |  |
| Short-Term Investments | 14977877 |  |  |
|  | $16820489 | $1888671654 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - High-Yield Fund

**SEPTEMBER 30, 2025 (UNAUDITED)** 

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 96.9%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 2.9%** |  |  |
| AAR Escrow Issuer LLC, 6.75%, 3/15/29<sup>(1)</sup> | $79000 | $81381 |
| ATI, Inc., 4.875%, 10/1/29 | 318000 | 312914 |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> | 30000 | 30886 |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | 175000 | 182638 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 319000 | 344406 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 343000 | 342856 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(1)</sup> | 368000 | 375474 |
| TransDigm, Inc., 4.625%, 1/15/29 | 382000 | 374678 |
| TransDigm, Inc., 4.875%, 5/1/29 | 214000 | 211023 |
| TransDigm, Inc., 6.375%, 5/31/33<sup>(1)</sup> | 317000 | 321356 |
|  |  | 2577612 |
| **Automobile Components — 3.0%** |  |  |
| American Axle & Manufacturing, Inc., 5.00%, 10/1/29<sup>(2)</sup> | 362000 | 344227 |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)(3)</sup> | 65000 | 65547 |
| Aptiv Swiss Holdings Ltd., VRN, 6.875%, 12/15/54 | 324000 | 331664 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, 9/15/32<sup>(1)</sup> | 400000 | 409114 |
| Forvia SE, 8.00%, 6/15/30<sup>(1)(2)</sup> | 319000 | 337928 |
| IHO Verwaltungs GmbH, 7.75% Cash or 8.50% PIK, 11/15/30<sup>(1)</sup> | 312000 | 326687 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(1)</sup> | 405000 | 406031 |
| ZF North America Capital, Inc., 7.125%, 4/14/30<sup>(1)</sup> | 471000 | 466748 |
|  |  | 2687946 |
| **Automobiles — 1.2%** |  |  |
| Nissan Motor Acceptance Co. LLC, 2.75%, 3/9/28<sup>(1)</sup> | 360000 | 338059 |
| Nissan Motor Acceptance Co. LLC, 7.05%, 9/15/28<sup>(1)</sup> | 325000 | 338601 |
| Nissan Motor Acceptance Co. LLC, 5.625%, 9/29/28<sup>(1)</sup> | 180000 | 180228 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 180000 | 180174 |
|  |  | 1037062 |
| **Banks — 0.5%** |  |  |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 51000 | 50930 |
| Freedom Mortgage Corp., 12.00%, 10/1/28<sup>(1)</sup> | 59000 | 62540 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 12000 | 12635 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 310000 | 308717 |
|  |  | 434822 |
| **Biotechnology — 0.4%** |  |  |
| Grifols SA, 4.75%, 10/15/28<sup>(1)</sup> | 349000 | 339326 |
| **Broadline Retail — 1.4%** |  |  |
| Getty Images, Inc., 11.25%, 2/21/30<sup>(1)</sup> | 327938 | 313466 |
| Kohl's Corp., 5.125%, 5/1/31 | 404000 | 320958 |
| Nordstrom, Inc., 5.00%, 1/15/44 | 244000 | 180464 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(1)</sup> | 137000 | 141595 |
| Wayfair LLC, 7.75%, 9/15/30<sup>(1)(2)</sup> | 230000 | 241787 |
|  |  | 1198270 |
| **Building Products — 0.6%** |  |  |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 538000 | 516173 |
| **Capital Markets — 0.7%** |  |  |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.75%, 1/15/29 | 325000 | 328412 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/1/29 | 339000 | 292918 |
|  |  | 621330 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Chemicals — 2.7%** |  |  |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | $174000 | $178609 |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30<sup>(2)</sup> | 230000 | 231694 |
| Celanese U.S. Holdings LLC, 7.05%, 11/15/30 | 319000 | 329534 |
| Chemours Co., 8.00%, 1/15/33<sup>(1)(2)</sup> | 98000 | 97549 |
| FMC Corp., VRN, 8.45%, 11/1/55 | 332000 | 350847 |
| INEOS Finance PLC, 6.75%, 5/15/28<sup>(1)</sup> | 320000 | 314171 |
| INEOS Quattro Finance 2 PLC, 9.625%, 3/15/29<sup>(1)</sup> | 312000 | 309120 |
| Inversion Escrow Issuer LLC, 6.75%, 8/1/32<sup>(1)</sup> | 210000 | 207005 |
| NOVA Chemicals Corp., 5.25%, 6/1/27<sup>(1)</sup> | 353000 | 354307 |
|  |  | 2372836 |
| **Commercial Services and Supplies — 2.5%** |  |  |
| Allied Universal Holdco LLC, 7.875%, 2/15/31<sup>(1)</sup> | 94000 | 98641 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.875%, 6/15/30<sup>(1)</sup> | 353000 | 363126 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29<sup>(1)</sup> | 225000 | 221391 |
| Clarivate Science Holdings Corp., 4.875%, 7/1/29<sup>(1)</sup> | 370000 | 349999 |
| Clean Harbors, Inc., 4.875%, 7/15/27<sup>(1)</sup> | 335000 | 334999 |
| Deluxe Corp., 8.125%, 9/15/29<sup>(1)</sup> | 306000 | 319912 |
| Neptune Bidco U.S., Inc., 9.29%, 4/15/29<sup>(1)</sup> | 171000 | 168024 |
| Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 1/15/28<sup>(1)</sup> | 370000 | 370207 |
|  |  | 2226299 |
| **Communications Equipment — 0.8%** |  |  |
| CommScope LLC, 9.50%, 12/15/31<sup>(1)</sup> | 343000 | 355254 |
| Viasat, Inc., 7.50%, 5/30/31<sup>(1)(2)</sup> | 384000 | 360826 |
|  |  | 716080 |
| **Construction and Engineering — 0.4%** |  |  |
| ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C, 7.875%, 2/3/30<sup>(1)</sup> | 315000 | 324982 |
| **Construction Materials — 0.2%** |  |  |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 113000 | 117138 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 68000 | 70751 |
|  |  | 187889 |
| **Consumer Finance — 4.7%** |  |  |
| Acuris Finance U.S., Inc./Acuris Finance SARL, 9.00%, 8/1/29<sup>(1)</sup> | 319000 | 333626 |
| Atlanticus Holdings Corp., 9.75%, 9/1/30<sup>(1)</sup> | 173000 | 172049 |
| Bread Financial Holdings, Inc., VRN, 8.375%, 6/15/35<sup>(1)</sup> | 229000 | 235337 |
| Encore Capital Group, Inc., 8.50%, 5/15/30<sup>(1)(2)</sup> | 313000 | 332655 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 9/1/27<sup>(1)</sup> | 352000 | 364104 |
| goeasy Ltd., 7.375%, 10/1/30<sup>(1)</sup> | 311000 | 312800 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)(2)</sup> | 63000 | 61077 |
| LFS Topco LLC, 8.75%, 7/15/30<sup>(1)</sup> | 324000 | 325750 |
| Navient Corp., 5.00%, 3/15/27 | 210000 | 209222 |
| Navient Corp., 4.875%, 3/15/28 | 332000 | 325768 |
| OneMain Finance Corp., 5.375%, 11/15/29 | 346000 | 342364 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 65000 | 65874 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 200000 | 200566 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 227000 | 234534 |
| PROG Holdings, Inc., 6.00%, 11/15/29<sup>(1)</sup> | 334000 | 328294 |
| TrueNoord Capital DAC, 8.75%, 3/1/30<sup>(1)</sup> | 302000 | 321171 |
|  |  | 4165191 |
| **Consumer Staples Distribution & Retail — 0.4%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 318000 | 316450 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Containers and Packaging — 1.3%** |  |  |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 9/1/29<sup>(1)</sup> | $200000 | $185264 |
| Ball Corp., 6.875%, 3/15/28 | 305000 | 311061 |
| Cascades, Inc./Cascades USA, Inc., 6.75%, 7/15/30<sup>(1)</sup> | 313000 | 319063 |
| Clydesdale Acquisition Holdings, Inc., 8.75%, 4/15/30<sup>(1)</sup> | 351000 | 360896 |
|  |  | 1176284 |
| **Diversified Consumer Services — 0.4%** |  |  |
| Adtalem Global Education, Inc., 5.50%, 3/1/28<sup>(1)</sup> | 319000 | 318214 |
| **Diversified REITs — 2.3%** |  |  |
| Brandywine Operating Partnership LP, 6.125%, 1/15/31<sup>(3)</sup> | 310000 | 309690 |
| Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 4/1/27<sup>(1)</sup> | 335000 | 329295 |
| Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27<sup>(1)</sup> | 335000 | 325445 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.875%, 5/15/29<sup>(1)</sup> | 350000 | 341527 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 7.00%, 2/1/30<sup>(1)</sup> | 83000 | 85631 |
| RLJ Lodging Trust LP, 4.00%, 9/15/29<sup>(1)</sup> | 355000 | 335521 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 8.625%, 6/15/32<sup>(1)(2)</sup> | 326000 | 311649 |
|  |  | 2038758 |
| **Diversified Telecommunication Services — 2.1%** |  |  |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29<sup>(1)</sup> | 405000 | 426325 |
| Fibercop SpA, 6.375%, 11/15/33<sup>(1)</sup> | 355000 | 354105 |
| Level 3 Financing, Inc., 3.75%, 7/15/29<sup>(1)</sup> | 165000 | 141476 |
| Level 3 Financing, Inc., 4.50%, 4/1/30<sup>(1)</sup> | 375000 | 344531 |
| Level 3 Financing, Inc., 4.00%, 4/15/31<sup>(1)(2)</sup> | 148000 | 127984 |
| Windstream Services LLC/Windstream Escrow Finance Corp., 8.25%, 10/1/31<sup>(1)</sup> | 423000 | 438504 |
|  |  | 1832925 |
| **Electric Utilities — 2.7%** |  |  |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56<sup>(3)</sup> | 310000 | 308923 |
| NRG Energy, Inc., 3.375%, 2/15/29<sup>(1)</sup> | 331000 | 313158 |
| NRG Energy, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 336000 | 338082 |
| PG&E Corp., 5.00%, 7/1/28 | 366000 | 362891 |
| Vistra Operations Co. LLC, 5.00%, 7/31/27<sup>(1)</sup> | 376000 | 375038 |
| Vistra Operations Co. LLC, 4.375%, 5/1/29<sup>(1)</sup> | 381000 | 373302 |
| XPLR Infrastructure Operating Partners LP, 7.25%, 1/15/29<sup>(1)(2)</sup> | 344000 | 353439 |
|  |  | 2424833 |
| **Electronic Equipment, Instruments and Components — 0.8%** |  |  |
| EquipmentShare.com, Inc., 9.00%, 5/15/28<sup>(1)</sup> | 158000 | 167397 |
| EquipmentShare.com, Inc., 8.625%, 5/15/32<sup>(1)</sup> | 78000 | 84310 |
| Sensata Technologies BV, 4.00%, 4/15/29<sup>(1)</sup> | 370000 | 355519 |
| Sensata Technologies BV, 5.875%, 9/1/30<sup>(1)</sup> | 108000 | 109038 |
|  |  | 716264 |
| **Energy Equipment and Services — 3.0%** |  |  |
| Borr IHC Ltd./Borr Finance LLC, 10.00%, 11/15/28<sup>(1)</sup> | 373012 | 371434 |
| Nabors Industries, Inc., 8.875%, 8/15/31<sup>(1)(2)</sup> | 153000 | 142607 |
| TGS ASA, 8.50%, 1/15/30<sup>(1)</sup> | 329000 | 339192 |
| Transocean International Ltd., 8.25%, 5/15/29<sup>(1)</sup> | 176000 | 173658 |
| Transocean International Ltd., 7.50%, 4/15/31 | 190000 | 176473 |
| Transocean International Ltd., 7.875%, 10/15/32<sup>(1)(3)</sup> | 150000 | 150000 |
| USA Compression Partners LP/USA Compression Finance Corp., 6.25%, 10/1/33<sup>(1)</sup> | 310000 | 311380 |
| Valaris Ltd., 8.375%, 4/30/30<sup>(1)</sup> | 344000 | 357261 |
| Viridien, 10.00%, 10/15/30<sup>(1)</sup> | 314000 | 323015 |
| Weatherford International Ltd., 6.75%, 10/15/33<sup>(1)(3)</sup> | 310000 | 310409 |
|  |  | 2655429 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Entertainment — 1.1%** |  |  |
| Live Nation Entertainment, Inc., 3.75%, 1/15/28<sup>(1)</sup> | $343000 | $335508 |
| Warnermedia Holdings, Inc., 5.05%, 3/15/42 | 325000 | 259657 |
| Warnermedia Holdings, Inc., 5.14%, 3/15/52 | 448000 | 334320 |
|  |  | 929485 |
| **Financial Services — 2.1%** |  |  |
| Aragvi Finance International DAC, 11.125%, 11/20/29<sup>(1)</sup> | 334000 | 335989 |
| Burford Capital Global Finance LLC, 6.25%, 4/15/28<sup>(1)</sup> | 317000 | 317822 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 8/15/28<sup>(1)</sup> | 362000 | 350050 |
| Jefferson Capital Holdings LLC, 9.50%, 2/15/29<sup>(1)</sup> | 292000 | 308594 |
| Midcap Financial Issuer Trust, 5.625%, 1/15/30<sup>(1)</sup> | 336000 | 317097 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 110000 | 113725 |
| Sabre GLBL, Inc., 11.125%, 7/15/30<sup>(1)</sup> | 79000 | 76606 |
|  |  | 1819883 |
| **Food Products — 1.0%** |  |  |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)(2)</sup> | 250000 | 270523 |
| HLF Financing SARL LLC/Herbalife International, Inc., 4.875%, 6/1/29<sup>(1)(2)</sup> | 383000 | 338665 |
| Lamb Weston Holdings, Inc., 4.375%, 1/31/32<sup>(1)</sup> | 150000 | 141892 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31<sup>(1)</sup> | 169000 | 169459 |
|  |  | 920539 |
| **Gas Utilities — 0.4%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, 6/1/30<sup>(1)</sup> | 308000 | 322703 |
| **Ground Transportation — 2.4%** |  |  |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.25%, 1/15/30<sup>(1)(2)</sup> | 312000 | 323906 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(1)</sup> | 324000 | 337194 |
| Hertz Corp., 12.625%, 7/15/29<sup>(1)(2)</sup> | 365000 | 387297 |
| NESCO Holdings II, Inc., 5.50%, 4/15/29<sup>(1)</sup> | 363000 | 355765 |
| United Rentals North America, Inc., 4.875%, 1/15/28 | 368000 | 367195 |
| United Rentals North America, Inc., 3.875%, 2/15/31 | 386000 | 365449 |
|  |  | 2136806 |
| **Health Care Equipment and Supplies — 0.4%** |  |  |
| Avantor Funding, Inc., 3.875%, 11/1/29<sup>(1)</sup> | 269000 | 256062 |
| Insulet Corp., 6.50%, 4/1/33<sup>(1)</sup> | 114000 | 118621 |
|  |  | 374683 |
| **Health Care Providers and Services — 3.1%** |  |  |
| AHP Health Partners, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 100000 | 98506 |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29<sup>(1)</sup> | 250000 | 198980 |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 342000 | 295987 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 413000 | 434246 |
| DaVita, Inc., 4.625%, 6/1/30<sup>(1)</sup> | 313000 | 300229 |
| Molina Healthcare, Inc., 4.375%, 6/15/28<sup>(1)</sup> | 362000 | 353369 |
| MPH Acquisition Holdings LLC, 6.50% Cash plus 5.00% PIK, 12/31/30<sup>(1)</sup> | 326000 | 341366 |
| Owens & Minor, Inc., 4.50%, 3/31/29<sup>(1)(2)</sup> | 350000 | 281240 |
| Prime Healthcare Services, Inc., 9.375%, 9/1/29<sup>(1)(2)</sup> | 163000 | 169688 |
| Star Parent, Inc., 9.00%, 10/1/30<sup>(1)</sup> | 259000 | 274137 |
|  |  | 2747748 |
| **Health Care REITs — 0.4%** |  |  |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(1)</sup> | 310000 | 315450 |
| **Health Care Technology — 0.5%** |  |  |
| AthenaHealth Group, Inc., 6.50%, 2/15/30<sup>(1)</sup> | 443000 | 439754 |
| **Hotels, Restaurants and Leisure — 7.0%** |  |  |
| Bloomin' Brands, Inc./OSI Restaurant Partners LLC, 5.125%, 4/15/29<sup>(1)(2)</sup> | 300000 | 261584 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Six Flags Entertainment Corp., 7.25%, 5/15/31<sup>(1)(2)</sup> | $338000 | $338355 |
| Boyd Gaming Corp., 4.75%, 6/15/31<sup>(1)</sup> | 175000 | 168846 |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)(2)</sup> | 391000 | 374132 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)(3)</sup> | 25000 | 25000 |
| Carnival Corp., 5.75%, 3/15/30<sup>(1)</sup> | 352000 | 359623 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 96000 | 98464 |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 4.625%, 1/15/29<sup>(1)</sup> | 376000 | 358160 |
| Hilton Domestic Operating Co., Inc., 3.75%, 5/1/29<sup>(1)</sup> | 353000 | 339835 |
| Hilton Domestic Operating Co., Inc., 4.00%, 5/1/31<sup>(1)</sup> | 388000 | 367473 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 5.00%, 6/1/29<sup>(1)</sup> | 360000 | 346463 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 319000 | 327628 |
| MGM Resorts International, 4.625%, 9/1/26 | 215000 | 214614 |
| NCL Corp. Ltd., 5.875%, 1/15/31<sup>(1)</sup> | 150000 | 150102 |
| NCL Corp. Ltd., 6.75%, 2/1/32<sup>(1)</sup> | 300000 | 308717 |
| NCL Corp. Ltd., 6.25%, 9/15/33<sup>(1)</sup> | 150000 | 150870 |
| Resorts World Las Vegas LLC/RWLV Capital, Inc., 4.625%, 4/16/29<sup>(1)</sup> | 300000 | 271800 |
| Resorts World Las Vegas LLC/RWLV Capital, Inc., 8.45%, 7/27/30<sup>(1)</sup> | 200000 | 203560 |
| Station Casinos LLC, 4.625%, 12/1/31<sup>(1)</sup> | 295000 | 278537 |
| TKC Holdings, Inc., 6.875%, 5/15/28<sup>(1)(2)</sup> | 320000 | 323167 |
| Travel & Leisure Co., 6.125%, 9/1/33<sup>(1)</sup> | 200000 | 199573 |
| Viking Cruises Ltd., 5.875%, 9/15/27<sup>(1)</sup> | 341000 | 341356 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 325000 | 324876 |
|  |  | 6132735 |
| **Household Durables — 3.3%** |  |  |
| Adams Homes, Inc., 9.25%, 10/15/28<sup>(1)</sup> | 301000 | 315135 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 68000 | 68645 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.875%, 2/15/30<sup>(1)</sup> | 350000 | 328582 |
| Century Communities, Inc., 6.625%, 9/15/33<sup>(1)</sup> | 200000 | 201901 |
| Dream Finders Homes, Inc., 6.875%, 9/15/30<sup>(1)</sup> | 290000 | 291998 |
| K Hovnanian Enterprises, Inc., 8.00%, 4/1/31<sup>(1)</sup> | 38000 | 38991 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 38000 | 38983 |
| Newell Brands, Inc., 8.50%, 6/1/28<sup>(1)</sup> | 360000 | 381685 |
| Somnigroup International, Inc., 3.875%, 10/15/31<sup>(1)</sup> | 355000 | 325594 |
| Taylor Morrison Communities, Inc., 5.875%, 6/15/27<sup>(1)</sup> | 332000 | 336310 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 260000 | 249497 |
| Whirlpool Corp., 6.125%, 6/15/30 | 323000 | 325817 |
|  |  | 2903138 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |
| TerraForm Power Operating LLC, 5.00%, 1/31/28<sup>(1)</sup> | 338000 | 335812 |
| **Industrial Conglomerates — 0.4%** |  |  |
| Stena International SA, 7.25%, 1/15/31<sup>(1)</sup> | 340000 | 346934 |
| **Insurance — 2.0%** |  |  |
| Acrisure LLC/Acrisure Finance, Inc., 8.50%, 6/15/29<sup>(1)</sup> | 315000 | 330962 |
| Acrisure LLC/Acrisure Finance, Inc., 7.50%, 11/6/30<sup>(1)</sup> | 170000 | 177230 |
| APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC, 7.875%, 11/1/29<sup>(1)</sup> | 324000 | 338402 |
| Ardonagh Group Finance Ltd., 8.875%, 2/15/32<sup>(1)</sup> | 283000 | 297740 |
| Global Atlantic Fin Co., VRN, 7.95%, 10/15/54<sup>(1)</sup> | 317000 | 335940 |
| Nassau Cos., of New York, 7.875%, 7/15/30<sup>(1)</sup> | 312000 | 318914 |
|  |  | 1799188 |
| **IT Services — 0.8%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 89000 | 92026 |
| CoreWeave, Inc., 9.00%, 2/1/31<sup>(1)</sup> | 420000 | 430974 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Unisys Corp., 10.625%, 1/15/31<sup>(1)</sup> | $162000 | $172738 |
|  |  | 695738 |
| **Life Sciences Tools and Services — 0.4%** |  |  |
| Charles River Laboratories International, Inc., 4.25%, 5/1/28<sup>(1)</sup> | 339000 | 331858 |
| **Machinery — 1.2%** |  |  |
| Chart Industries, Inc., 9.50%, 1/1/31<sup>(1)</sup> | 311000 | 333472 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 2/15/29<sup>(1)</sup> | 342000 | 357883 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(1)</sup> | 360000 | 334464 |
|  |  | 1025819 |
| **Media — 8.3%** |  |  |
| AMC Networks, Inc., 10.25%, 1/15/29<sup>(1)</sup> | 273000 | 287913 |
| AMC Networks, Inc., 10.50%, 7/15/32<sup>(1)(2)</sup> | 107000 | 113249 |
| Cable One, Inc., 4.00%, 11/15/30<sup>(1)(2)</sup> | 209000 | 177280 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 2/1/31<sup>(1)</sup> | 513000 | 472912 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31<sup>(1)</sup> | 300000 | 309723 |
| CSC Holdings LLC, 5.375%, 2/1/28<sup>(1)</sup> | 350000 | 307191 |
| CSC Holdings LLC, 4.50%, 11/15/31<sup>(1)</sup> | 365000 | 237666 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 333000 | 330536 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 10.00%, 2/15/31<sup>(1)</sup> | 335000 | 334759 |
| Discovery Communications LLC, 6.35%, 6/1/40 | 398000 | 367223 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(1)</sup> | 495000 | 524243 |
| EchoStar Corp., 10.75%, 11/30/29 | 428920 | 472220 |
| EchoStar Corp., 6.75% PIK, 11/30/30 | 347001 | 358010 |
| EW Scripps Co., 9.875%, 8/15/30<sup>(1)</sup> | 85000 | 79863 |
| Gray Media, Inc., 10.50%, 7/15/29<sup>(1)</sup> | 200000 | 216416 |
| Gray Media, Inc., 5.375%, 11/15/31<sup>(1)</sup> | 461000 | 346618 |
| iHeartCommunications, Inc., 9.125%, 5/1/29<sup>(1)</sup> | 101000 | 91217 |
| Nexstar Media, Inc., 5.625%, 7/15/27<sup>(1)</sup> | 374000 | 373758 |
| Paramount Global, VRN, 6.375%, 3/30/62 | 356000 | 355628 |
| Scripps Escrow II, Inc., 3.875%, 1/15/29<sup>(1)(2)</sup> | 359000 | 316605 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 426000 | 411984 |
| Virgin Media Finance PLC, 5.00%, 7/15/30<sup>(1)</sup> | 236000 | 219405 |
| Virgin Media Secured Finance PLC, 4.50%, 8/15/30<sup>(1)</sup> | 269000 | 253861 |
| Ziggo BV, 4.875%, 1/15/30<sup>(1)</sup> | 352000 | 332546 |
|  |  | 7290826 |
| **Metals and Mining — 3.7%** |  |  |
| Alumina Pty. Ltd., 6.125%, 3/15/30<sup>(1)</sup> | 321000 | 328565 |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29<sup>(1)</sup> | 330000 | 330396 |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 43000 | 44351 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 353000 | 360650 |
| Cleveland-Cliffs, Inc., 7.625%, 1/15/34<sup>(1)</sup> | 200000 | 206212 |
| Fortescue Treasury Pty. Ltd., 4.50%, 9/15/27<sup>(1)</sup> | 334000 | 332712 |
| Fortescue Treasury Pty. Ltd., 5.875%, 4/15/30<sup>(1)</sup> | 174000 | 178460 |
| Mineral Resources Ltd., 9.25%, 10/1/28<sup>(1)</sup> | 346000 | 362975 |
| Mineral Resources Ltd., 7.00%, 4/1/31<sup>(1)(3)</sup> | 200000 | 202713 |
| Novelis Corp., 3.875%, 8/15/31<sup>(1)</sup> | 251000 | 229042 |
| Park-Ohio Industries, Inc., 8.50%, 8/1/30<sup>(1)</sup> | 319000 | 330985 |
| SunCoke Energy, Inc., 4.875%, 6/30/29<sup>(1)</sup> | 345000 | 322772 |
|  |  | 3229833 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.9%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 319000 | 334684 |
| Starwood Property Trust, Inc., 5.25%, 10/15/28<sup>(1)(3)</sup> | 310000 | 310283 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Starwood Property Trust, Inc., 5.75%, 1/15/31<sup>(1)(3)</sup> | $120000 | $120075 |
|  |  | 765042 |
| **Oil, Gas and Consumable Fuels — 8.8%** |  |  |
| Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 8.625%, 6/15/29<sup>(1)</sup> | 314000 | 332616 |
| Baytex Energy Corp., 8.50%, 4/30/30<sup>(1)</sup> | 340000 | 349843 |
| California Resources Corp., 8.25%, 6/15/29<sup>(1)</sup> | 344000 | 359010 |
| California Resources Corp., 7.00%, 1/15/34<sup>(1)(3)</sup> | 100000 | 99374 |
| Civitas Resources, Inc., 8.375%, 7/1/28<sup>(1)</sup> | 362000 | 375683 |
| CVR Energy, Inc., 8.50%, 1/15/29<sup>(1)</sup> | 320000 | 327302 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 8.625%, 3/15/29<sup>(1)</sup> | 341000 | 355850 |
| Energean PLC, 6.50%, 4/30/27<sup>(1)(2)</sup> | 323000 | 321890 |
| Energy Transfer LP, VRN, 6.75%, 2/15/56 | 300000 | 299764 |
| EQT Corp., 7.50%, 6/1/27 | 274000 | 279336 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 5.75%, 2/1/29<sup>(1)</sup> | 345000 | 340154 |
| Ithaca Energy North Sea PLC, 8.125%, 10/15/29<sup>(1)</sup> | 330000 | 345598 |
| Moss Creek Resources Holdings, Inc., 8.25%, 9/1/31<sup>(1)</sup> | 342000 | 335378 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.125%, 2/15/29<sup>(1)</sup> | 355000 | 364249 |
| Northern Oil & Gas, Inc., 7.875%, 10/15/33<sup>(1)(3)</sup> | 136000 | 135547 |
| PBF Holding Co. LLC/PBF Finance Corp., 6.00%, 2/15/28 | 354000 | 352120 |
| Saturn Oil & Gas, Inc., 9.625%, 6/15/29<sup>(1)</sup> | 321000 | 332809 |
| SM Energy Co., 6.75%, 9/15/26 | 350000 | 350138 |
| SM Energy Co., 6.75%, 8/1/29<sup>(1)</sup> | 71000 | 71396 |
| Sunoco LP/Sunoco Finance Corp., 5.875%, 3/15/28 | 316000 | 316962 |
| Sunoco LP/Sunoco Finance Corp., 7.00%, 9/15/28<sup>(1)</sup> | 315000 | 324974 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 3/1/27<sup>(1)</sup> | 316000 | 316123 |
| Talos Production, Inc., 9.00%, 2/1/29<sup>(1)</sup> | 333000 | 344576 |
| Venture Global LNG, Inc., 9.50%, 2/1/29<sup>(1)</sup> | 339000 | 373798 |
| Venture Global LNG, Inc., 7.00%, 1/15/30<sup>(1)(2)</sup> | 169000 | 174998 |
| Venture Global LNG, Inc., 8.375%, 6/1/31<sup>(1)</sup> | 164000 | 172311 |
|  |  | 7751799 |
| **Passenger Airlines — 1.3%** |  |  |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 204219 | 204482 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 4/20/29<sup>(1)</sup> | 322000 | 323473 |
| CHC Group LLC, 11.75%, 9/1/30<sup>(1)</sup> | 177000 | 174695 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 426000 | 432444 |
|  |  | 1135094 |
| **Personal Care Products — 0.2%** |  |  |
| Edgewell Personal Care Co., 4.125%, 4/1/29<sup>(1)</sup> | 222000 | 211474 |
| **Pharmaceuticals — 1.9%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 300000 | 307753 |
| AdaptHealth LLC, 4.625%, 8/1/29<sup>(1)</sup> | 375000 | 355037 |
| Bausch Health Cos., Inc., 4.875%, 6/1/28<sup>(1)</sup> | 150000 | 134381 |
| Bausch Health Cos., Inc., 11.00%, 9/30/28<sup>(1)</sup> | 158000 | 164468 |
| Endo Finance Holdings, Inc., 8.50%, 4/15/31<sup>(1)</sup> | 315000 | 338348 |
| Perrigo Finance Unlimited Co., 4.90%, 6/15/30 | 250000 | 244222 |
| Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/1/26 | 118000 | 116003 |
|  |  | 1660212 |
| **Professional Services — 0.3%** |  |  |
| AMN Healthcare, Inc., 6.50%, 1/15/31<sup>(1)(3)</sup> | 310000 | 311152 |
| **Real Estate Management and Development — 2.2%** |  |  |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 5.75%, 1/15/29<sup>(1)</sup> | 191000 | 184286 |
| Arbor Realty SR, Inc., 7.875%, 7/15/30<sup>(1)</sup> | 314000 | 330288 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Forestar Group, Inc., 6.50%, 3/15/33<sup>(1)</sup> | $316000 | $323533 |
| Howard Hughes Corp., 4.125%, 2/1/29<sup>(1)</sup> | 347000 | 333166 |
| Howard Hughes Corp., 4.375%, 2/1/31<sup>(1)</sup> | 82000 | 76948 |
| Kennedy-Wilson, Inc., 4.75%, 3/1/29 | 347000 | 331840 |
| Newmark Group, Inc., 7.50%, 1/12/29 | 311000 | 333856 |
|  |  | 1913917 |
| **Semiconductors and Semiconductor Equipment — 1.1%** |  |  |
| ams-OSRAM AG, 12.25%, 3/30/29<sup>(1)</sup> | 291000 | 313431 |
| Entegris, Inc., 4.75%, 4/15/29<sup>(1)</sup> | 325000 | 322560 |
| Kioxia Holdings Corp., 6.25%, 7/24/30<sup>(1)</sup> | 360000 | 367608 |
|  |  | 1003599 |
| **Software — 0.7%** |  |  |
| Cloud Software Group, Inc., 9.00%, 9/30/29<sup>(1)</sup> | 300000 | 311503 |
| Pagaya U.S. Holdings Co. LLC, 8.875%, 8/1/30<sup>(1)</sup> | 329000 | 307167 |
|  |  | 618670 |
| **Specialized REITs — 1.2%** |  |  |
| Iron Mountain, Inc., 4.875%, 9/15/29<sup>(1)</sup> | 359000 | 353706 |
| Millrose Properties, Inc., 6.25%, 9/15/32<sup>(1)</sup> | 310000 | 311004 |
| SBA Communications Corp., 3.125%, 2/1/29 | 411000 | 384828 |
|  |  | 1049538 |
| **Specialty Retail — 1.7%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 85000 | 87517 |
| Carvana Co., 9.00% , 6/1/31<sup>(1)</sup> | 406000 | 459985 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.375%, 1/15/29<sup>(1)</sup> | 338000 | 330982 |
| Murphy Oil USA, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 219000 | 203992 |
| PetSmart LLC/PetSmart Finance Corp., 7.50%, 9/15/32<sup>(1)</sup> | 302000 | 303204 |
| Sonic Automotive, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 100000 | 97190 |
|  |  | 1482870 |
| **Technology Hardware, Storage and Peripherals — 0.3%** |  |  |
| Seagate Data Storage Technology Pte. Ltd., 9.625%, 12/1/32<sup>(1)</sup> | 262000 | 296991 |
| Seagate HDD Cayman, 9.625%, 12/1/32 | 800 | 907 |
|  |  | 297898 |
| **Textiles, Apparel and Luxury Goods — 0.8%** |  |  |
| VF Corp., 2.95%, 4/23/30 | 400000 | 352886 |
| William Carter Co., 5.625%, 3/15/27<sup>(1)(2)</sup> | 325000 | 325633 |
|  |  | 678519 |
| **Transportation Infrastructure — 0.4%** |  |  |
| Star Leasing Co. LLC, 7.625%, 2/15/30<sup>(1)</sup> | 354000 | 344336 |
| **Wireless Telecommunication Services — 1.2%** |  |  |
| Millicom International Cellular SA, 6.25%, 3/25/29<sup>(1)</sup> | 336600 | 339953 |
| Rogers Communications, Inc., VRN, 7.00%, 4/15/55 | 121000 | 126324 |
| Rogers Communications, Inc., VRN, 5.25%, 3/15/82<sup>(1)</sup> | 339000 | 336908 |
| Vmed O2 U.K. Financing I PLC, 4.75%, 7/15/31<sup>(1)</sup> | 265000 | 249596 |
|  |  | 1052781 |
| **TOTAL CORPORATE BONDS**<br>(Cost $84,610,578) |  | **85260808** |
| **PREFERRED SECURITIES — 0.4%** |  |  |
| **Broadline Retail — 0.4%** |  |  |
| Rakuten Group, Inc., 8.125%<sup>(1)</sup><br>(Cost $329,439) | 335000 | **348571** |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
|<br>**SHORT-TERM INVESTMENTS — 10.5%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Money Market Funds — 10.5%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 2920451 | $2920451 |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(4)</sup> | 6304330 | 6304330 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $9,224,781) |  | **9224781** |
| **TOTAL INVESTMENT SECURITIES — 107.8%**<br>(Cost $94,164,798) |  | **94834160** |
| **OTHER ASSETS AND LIABILITIES — (7.8)%** |  | **(6869520)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**87964640** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional**<br>**Amount** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)^** |
| U.S. Treasury 10-Year Notes | 20 | December 2025 | $2250000 | $7461 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| PIK | – | Payment in Kind. Security may elect to pay a cash rate and/or an in kind rate. |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $71,522,184, which represented 81.3% of total net assets.

(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $6,426,424. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(3)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(4)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $6,681,158, which includes securities collateral of $376,828.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $85260808 |  |
| Preferred Securities |  | 348571 |  |
| Short-Term Investments | $9224781 |  |  |
|  | $9224781 | $85609379 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $7461 |  |  |

---

------

Schedule of Investments - High-Yield Fund

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | |
|:---|:---|
| | **Type of Risk Exposure** |
| | **Interest Rate** |
| **Liability Derivatives:** | |
| &nbsp;&nbsp;Payable for variation margin on futures contracts\* | $313 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts as reported in the Schedule of Investments.

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | |
|:---|:---|
| | **Type of Risk Exposure** |
| | **Interest Rate** |
| **Net realized gain (loss) on:** | |
| &nbsp;&nbsp;Futures contract transactions | $37594 |
| **Change in net unrealized appreciation (depreciation) on:** |  |
| &nbsp;&nbsp;Futures contracts | $7461 |

---

See Notes to Financial Statements.

------

Schedule of Investments - Multisector Income Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 47.7%** | **Principal**<br>**Amount/Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 1.2%** |  |  |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | $130000 | $135674 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 118000 | 127398 |
| Bombardier, Inc., 7.25%, 7/1/31<sup>(1)</sup> | 132000 | 140089 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 425000 | 424822 |
| TransDigm, Inc., 4.625%, 1/15/29 | 530000 | 519841 |
|  |  | 1347824 |
| **Automobile Components — 0.2%** |  |  |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)(2)</sup> | 165000 | 166389 |
| **Automobiles — 0.5%** |  |  |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30<sup>(3)</sup> | 200000 | 213906 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 385000 | 385372 |
|  |  | 599278 |
| **Banks — 4.3%** |  |  |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 525000 | 558529 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 245000 | 260709 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 170000 | 182706 |
| Bank of Nova Scotia, VRN, 6.875%, (5-year H15T5Y plus 2.73%), 10/27/85<sup>(2)</sup> | 200000 | 199904 |
| Canadian Imperial Bank of Commerce, VRN, 7.00%, 10/28/85 | 245000 | 251903 |
| Comerica, Inc., VRN, 5.98%, 1/30/30 | 295000 | 307051 |
| First Citizens BancShares, Inc., VRN, 5.60%, 9/5/35 | 270000 | 269379 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 465000 | 464360 |
| Freedom Mortgage Corp., 12.00%, 10/1/28<sup>(1)</sup> | 210000 | 222600 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 242000 | 254810 |
| Intesa Sanpaolo SpA, 5.71%, 1/15/26<sup>(1)</sup> | 505000 | 506136 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 598000 | 565643 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 545000 | 576774 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 91000 | 90623 |
|  |  | 4711127 |
| **Biotechnology — 0.3%** |  |  |
| Biocon Biologics Global PLC, 6.67%, 10/9/29<sup>(1)</sup> | 290000 | 281839 |
| **Broadline Retail — 0.3%** |  |  |
| Wayfair LLC, 7.75%, 9/15/30<sup>(1)(3)</sup> | 270000 | 283836 |
| **Building Products — 1.1%** |  |  |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> | 211000 | 209055 |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 580000 | 545938 |
| Masterbrand, Inc., 7.00%, 7/15/32<sup>(1)</sup> | 233000 | 241099 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 51000 | 52380 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 119000 | 114172 |
|  |  | 1162644 |
| **Capital Markets — 2.8%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 155000 | 157206 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 135000 | 138943 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 177000 | 180476 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 420000 | 451278 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 381000 | 385979 |
| Carlyle Secured Lending, Inc., 5.75%, 2/15/31<sup>(2)</sup> | 206000 | 204939 |
| Deutsche Bank AG, VRN, 4.875%, 12/1/32 | 544000 | 543785 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 293000 | 309856 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | $175000 | $175956 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 120000 | 119406 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29<sup>(3)</sup> | 96000 | 99140 |
| LPL Holdings, Inc., 5.15%, 6/15/30 | 105000 | 106914 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 235000 | 233848 |
|  |  | 3107726 |
| **Chemicals — 1.2%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> | 280000 | 121100 |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> | 500000 | 188805 |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | 191000 | 196059 |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30<sup>(3)</sup> | 405000 | 407982 |
| Orbia Advance Corp. SAB de CV, 2.875%, 5/11/31<sup>(1)</sup> | 320000 | 273793 |
| Solstice Advanced Materials, Inc., 5.625%, 9/30/33<sup>(1)</sup> | 170000 | 170668 |
|  |  | 1358407 |
| **Commercial Services and Supplies — 0.9%** |  |  |
| Deluxe Corp., 8.125%, 9/15/29<sup>(1)</sup> | 490000 | 512278 |
| Williams Scotsman, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 490000 | 501650 |
|  |  | 1013928 |
| **Construction and Engineering — 0.7%** |  |  |
| Brand Industrial Services, Inc., 10.375%, 8/1/30<sup>(1)</sup> | 750000 | 748547 |
| **Construction Materials — 0.3%** |  |  |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 127000 | 131651 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 180000 | 187281 |
|  |  | 318932 |
| **Consumer Finance — 1.3%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 173000 | 197298 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)</sup> | 113000 | 109551 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 75000 | 76009 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 112000 | 112317 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 256000 | 267838 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 166000 | 171509 |
| Stellantis Financial Services U.S. Corp., 4.95%, 9/15/28<sup>(1)</sup> | 490000 | 489952 |
|  |  | 1424474 |
| **Consumer Staples Distribution & Retail — 0.3%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 315000 | 313465 |
| **Containers and Packaging — 0.2%** |  |  |
| Sealed Air Corp., 5.00%, 4/15/29<sup>(1)</sup> | 261000 | 259757 |
| **Diversified REITs — 2.4%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 335000 | 304429 |
| Brandywine Operating Partnership LP, 6.125%, 1/15/31<sup>(2)</sup> | 330000 | 329670 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 320000 | 314093 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 65000 | 60033 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 65000 | 54073 |
| Kilroy Realty LP, 2.65%, 11/15/33 | 45000 | 36858 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(1)</sup> | 355000 | 377481 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28<sup>(3)</sup> | 154000 | 171043 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 32000 | 33874 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 500000 | 490542 |
| Trust Fibra Uno, 8.25%, 1/23/37<sup>(1)</sup> | 400000 | 451039 |
|  |  | 2623135 |
| **Diversified Telecommunication Services — 1.1%** |  |  |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> | 724000 | 763886 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Level 3 Financing, Inc., 7.00%, 3/31/34<sup>(1)</sup> | $385594 | $392565 |
|  |  | 1156451 |
| **Electric Utilities — 2.3%** |  |  |
| Alliant Energy Corp., VRN, 5.75%, 4/1/56 | 167000 | 167378 |
| American Electric Power Co., Inc., VRN, 5.80%, 3/15/56 | 193000 | 192806 |
| American Electric Power Co., Inc., VRN, 6.05%, 3/15/56 | 193000 | 193754 |
| Comision Ejecutiva Hidroelectrica del Rio Lempa, 8.65%, 1/24/33<sup>(1)</sup> | 275000 | 287898 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 374000 | 376407 |
| Empresas Publicas de Medellin ESP, 4.25%, 7/18/29<sup>(1)</sup> | 215000 | 204376 |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56<sup>(2)</sup> | 382000 | 380673 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 160000 | 161491 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> | 250000 | 265444 |
| RWE Finance U.S. LLC, 5.125%, 9/18/35<sup>(1)</sup> | 151000 | 149038 |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 133000 | 132669 |
|  |  | 2511934 |
| **Energy Equipment and Services — 0.3%** |  |  |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> | 255000 | 260527 |
| Kodiak Gas Services LLC, 6.50%, 10/1/33<sup>(1)</sup> | 55000 | 56034 |
| Kodiak Gas Services LLC, 6.75%, 10/1/35<sup>(1)</sup> | 55000 | 56506 |
|  |  | 373067 |
| **Entertainment — 0.3%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 308000 | 300854 |
| **Financial Services — 1.7%** |  |  |
| Antares Holdings LP, 7.95%, 8/11/28<sup>(1)</sup> | 255000 | 271345 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> | 370000 | 378565 |
| Essent Group Ltd., 6.25%, 7/1/29 | 305000 | 319689 |
| NMI Holdings, Inc., 6.00%, 8/15/29<sup>(3)</sup> | 305000 | 315611 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 241000 | 251159 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 88000 | 90980 |
| PennyMac Financial Services, Inc., 6.75%, 2/15/34<sup>(1)</sup> | 25000 | 25522 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> | 105000 | 107841 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 90000 | 93003 |
|  |  | 1853715 |
| **Food Products — 0.2%** |  |  |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)(3)</sup> | 180000 | 194777 |
| **Gas Utilities — 0.1%** |  |  |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 72000 | 76698 |
| **Health Care Equipment and Supplies — 0.7%** |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 485000 | 497927 |
| Sotera Health Holdings LLC, 7.375%, 6/1/31<sup>(1)</sup> | 268000 | 281740 |
|  |  | 779667 |
| **Health Care Providers and Services — 0.9%** |  |  |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 450000 | 389456 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 152000 | 159819 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)(3)</sup> | 386000 | 397000 |
|  |  | 946275 |
| **Health Care REITs — 0.3%** |  |  |
| National Health Investors, Inc., 5.35%, 2/1/33 | 340000 | 337375 |
| **Hotel & Resort REITs — 0.3%** |  |  |
| Service Properties Trust, 0.00%, 9/30/28<sup>(1)(4)</sup> | 416000 | 367089 |
| **Hotels, Restaurants and Leisure — 2.0%** |  |  |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 434000 | 415277 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Caesars Entertainment, Inc., 7.00%, 2/15/30<sup>(1)</sup> | $108000 | $111158 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 458000 | 469755 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 233000 | 239302 |
| Marriott Ownership Resorts, Inc., 6.50%, 10/1/33<sup>(1)</sup> | 385000 | 383514 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 235000 | 241082 |
| Station Casinos LLC, 4.625%, 12/1/31<sup>(1)</sup> | 166000 | 156736 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 215000 | 214918 |
|  |  | 2231742 |
| **Household Durables — 0.7%** |  |  |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 283000 | 285683 |
| Meritage Homes Corp., 5.65%, 3/15/35 | 154000 | 156493 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 285000 | 273487 |
|  |  | 715663 |
| **Independent Power and Renewable Electricity Producers — 0.5%** |  |  |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(1)</sup> | 262000 | 266840 |
| Saavi Energia SARL, 8.875%, 2/10/35<sup>(1)</sup> | 310000 | 334009 |
|  |  | 600849 |
| **Insurance — 1.0%** |  |  |
| Aspen Insurance Holdings Ltd., 5.75%, 7/1/30 | 290000 | 303782 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 71000 | 74066 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 280000 | 275936 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 386000 | 379207 |
| MetLife Capital Trust IV, 7.875%, 12/15/67<sup>(1)</sup> | 104000 | 116494 |
|  |  | 1149485 |
| **IT Services — 0.2%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 265000 | 274011 |
| **Machinery — 0.7%** |  |  |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> | 100000 | 104199 |
| Chart Industries, Inc., 9.50%, 1/1/31<sup>(1)</sup> | 184000 | 197295 |
| Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 2/15/29<sup>(1)</sup> | 435000 | 455202 |
|  |  | 756696 |
| **Marine Transportation — 0.3%** |  |  |
| Yinson Bergenia Production BV, 8.50%, 1/31/45<sup>(1)</sup> | 320000 | 343839 |
| **Media — 3.7%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 360000 | 357869 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31<sup>(1)</sup> | 395000 | 407802 |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 177000 | 180939 |
| Gray Media, Inc., 7.25%, 8/15/33<sup>(1)</sup> | 385000 | 381757 |
| Lamar Media Corp., 3.75%, 2/15/28 | 525000 | 510873 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)(3)</sup> | 835000 | 815688 |
| Paramount Global, VRN, 6.25%, 2/28/57 | 273000 | 269339 |
| Paramount Global, 4.375%, 3/15/43 | 360000 | 278031 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> | 365000 | 360319 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 175000 | 169242 |
| TEGNA, Inc., 4.625%, 3/15/28 | 330000 | 324852 |
|  |  | 4056711 |
| **Metals and Mining — 0.6%** |  |  |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 109000 | 112426 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 236000 | 241114 |
| CSN Inova Ventures, 6.75%, 1/28/28<sup>(1)</sup> | 291000 | 282892 |
|  |  | 636432 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.8%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.75%, 6/15/29<sup>(1)</sup> | $215000 | $211154 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 613000 | 643138 |
|  |  | 854292 |
| **Multi-Utilities — 1.6%** |  |  |
| CenterPoint Energy, Inc., VRN, 5.95%, (5-year H15T5Y plus 2.22%), 4/1/56<sup>(2)</sup> | 273000 | 273683 |
| Dominion Energy, Inc., VRN, 6.00%, 2/15/56 | 290000 | 292395 |
| Dominion Energy, Inc., VRN, 6.20%, 2/15/56 | 290000 | 292166 |
| NiSource, Inc., 5.35%, 7/15/35 | 313000 | 319814 |
| Sempra, VRN, 4.125%, 4/1/52 | 554000 | 540412 |
|  |  | 1718470 |
| **Oil, Gas and Consumable Fuels — 4.7%** |  |  |
| 3R Lux SARL, 9.75%, 2/5/31<sup>(1)(3)</sup> | 157000 | 165902 |
| Antero Resources Corp., 7.625%, 2/1/29<sup>(1)</sup> | 82000 | 83795 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 440000 | 456589 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 530000 | 532410 |
| Energy Transfer LP, VRN, 6.50%, 2/15/56 | 253000 | 252062 |
| EQT Corp., 7.50%, 6/1/27 | 277000 | 282394 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 34000 | 34358 |
| Expand Energy Corp., 5.375%, 3/15/30 | 200000 | 203390 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 295000 | 298029 |
| Northern Oil & Gas, Inc., 7.875%, 10/15/33<sup>(1)(2)</sup> | 527000 | 525244 |
| Petroleos Mexicanos, 6.875%, 8/4/26<sup>(3)</sup> | 277000 | 280837 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 1450000 | 1405390 |
| Repsol E&P Capital Markets U.S. LLC, 5.98%, 9/16/35<sup>(1)</sup> | 206000 | 209972 |
| SM Energy Co., 6.75%, 9/15/26 | 273000 | 273107 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 133000 | 137806 |
|  |  | 5141285 |
| **Passenger Airlines — 1.7%** |  |  |
| American Airlines, Series 2017-2, Class B, 3.70%, 4/15/27 | 146128 | 146011 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)(3)</sup> | 210000 | 215311 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 996605 | 997891 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 365000 | 365420 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 139000 | 144796 |
|  |  | 1869429 |
| **Pharmaceuticals — 0.7%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 250000 | 256460 |
| Royalty Pharma PLC, 4.45%, 3/25/31 | 535000 | 530697 |
|  |  | 787157 |
| **Real Estate Management and Development — 0.5%** |  |  |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 9.75%, 4/15/30<sup>(1)</sup> | 76000 | 83007 |
| Forestar Group, Inc., 6.50%, 3/15/33<sup>(1)</sup> | 405000 | 414654 |
|  |  | 497661 |
| **Semiconductors and Semiconductor Equipment — 0.3%** |  |  |
| Foundry JV Holdco LLC, 5.50%, 1/25/31<sup>(1)</sup> | 115000 | 119413 |
| Intel Corp., 3.90%, 3/25/30 | 160000 | 156995 |
|  |  | 276408 |
| **Software — 0.1%** |  |  |
| AppLovin Corp., 5.375%, 12/1/31 | 152000 | 157297 |
| **Specialty Retail — 0.5%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 106000 | 109138 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> | 100000 | 103201 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| PetSmart LLC/PetSmart Finance Corp., 7.50%, 9/15/32<sup>(1)</sup> |  | $390000 | $391555 |
|  |  |  | 603894 |
| **Trading Companies and Distributors — 0.4%** |  |  |  |
| Herc Holdings, Inc., 5.50%, 7/15/27<sup>(1)</sup> |  | 240000 | 239579 |
| Herc Holdings, Inc., 7.25%, 6/15/33<sup>(1)</sup> |  | 196000 | 204761 |
|  |  |  | 444340 |
| **Wireless Telecommunication Services — 0.5%** |  |  |  |
| T-Mobile USA, Inc., 6.70%, 12/15/33 |  | 462000 | 516847 |
| **TOTAL CORPORATE BONDS**<br>(Cost $51,611,570) |  |  | **52251718** |
| **ASSET-BACKED SECURITIES — 11.1%** |  |  |  |
| Aligned Data Centers Issuer LLC, Series 2022-1A, Class A2, SEQ, 6.35%, 10/15/47<sup>(1)</sup> |  | 250000 | 250081 |
| Aligned Data Centers Issuer LLC, Series 2023-1A, Class A2, SEQ, 6.00%, 8/17/48<sup>(1)</sup> |  | 374000 | 377980 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B, 3.45%, 7/15/46<sup>(1)</sup> |  | 163358 | 155896 |
| CARS-DB4 LP, Series 2020-1A, Class B2, 4.52%, 2/15/50<sup>(1)</sup> |  | 100000 | 97427 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> |  | 64487 | 63653 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> |  | 479526 | 468511 |
| Cherry Securitization Trust, Series 2025-1A, Class B, 6.53%, 11/15/32<sup>(1)</sup> |  | 486000 | 496264 |
| CLI Funding VIII LLC, Series 2022-1A, Class B, 3.12%, 1/18/47<sup>(1)</sup> |  | 413993 | 377657 |
| ClickLease Equipment Receivables Trust, Series 2024-1, Class B, 7.34%, 2/15/30<sup>(1)</sup> |  | 127054 | 127288 |
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52<sup>(1)</sup> | CAD | 200000 | 140358 |
| Cologix Data Centers U.S. Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.30%, 12/26/51<sup>(1)</sup> |  | $425000 | 414988 |
| Concord Music Royalties LLC, Series 2025-1A, Class A2, SEQ, 5.51%, 7/20/75<sup>(1)</sup> |  | 343000 | 345833 |
| Continental Finance Credit Card ABS Master Trust, Series 2022-A, Class A, SEQ, 6.19%, 10/15/30<sup>(1)</sup> |  | 376000 | 377235 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> |  | 200000 | 196876 |
| DataBank Issuer LLC, Series 2023-1A, Class A2, SEQ, 5.12%, 2/25/53<sup>(1)</sup> |  | 408000 | 407610 |
| Diamond Issuer LLC, Series 2021-1A, Class A, SEQ, 2.31%, 11/20/51<sup>(1)</sup> |  | 395000 | 376098 |
| EDI ABS Issuer 1 LLC, Series 2025-1A, Class B, 4.55%, 7/25/55<sup>(1)</sup> |  | 191000 | 183212 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> |  | 300000 | 291389 |
| GAIA Aviation Ltd., Series 2019-1, Class A, 3.97%, 12/15/44<sup>(1)</sup> |  | 112204 | 108867 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> |  | 168549 | 139838 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.96%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(1)</sup> |  | 214949 | 215740 |
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(1)</sup> |  | 120587 | 123926 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> |  | 383000 | 385401 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> |  | 395432 | 401541 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> |  | 202000 | 204516 |
| MACH 1 Cayman Ltd., Series 2019-1, Class A, SEQ, 3.47%, 10/15/39<sup>(1)</sup> |  | 45983 | 45455 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41%, 9/15/31<sup>(1)</sup> |  | 326000 | 327135 |
| Mosaic Solar Loan Trust, Series 2021-3A, Class B, 1.92%, 6/20/52<sup>(1)</sup> |  | 428591 | 330466 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> |  | 138997 | 133311 |
| Nelnet Student Loan Trust, Series 2005-4, Class A4, VRN, 4.82%, (90-day average SOFR plus 0.44%), 3/22/32 |  | 39816 | 39041 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> |  | 400000 | 271659 |
| NP SPE II LLC, Series 2019-1A, Class A1, SEQ, 2.57%, 9/20/49<sup>(1)</sup> |  | 79398 | 78350 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(1)</sup> |  | 84961 | 86416 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A3, SEQ, 6.67%, 6/25/44<sup>(1)</sup> |  | 475000 | 482689 |
| RCKT Trust, Series 2025-1A, Class D, 5.42%, 7/25/34<sup>(1)</sup> |  | 179000 | 180361 |
| Regional Management Issuance Trust, Series 2025-1, Class B, 5.53%, 4/17/34<sup>(1)</sup> |  | 200000 | 202451 |
| Research-Driven Pagaya Motor Asset Trust, Series 2025-4A, Class B, 5.50%, 4/25/34<sup>(1)</sup> |  | 510004 | 512831 |
| Scalelogix ABS U.S. Issuer LLC, Series 2025-1A, Class B, 6.16%, 7/25/55<sup>(1)</sup> |  | 340000 | 339654 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> |  | 200000 | 204783 |
| Slam Ltd., Series 2021-1A, Class B, 3.42%, 6/15/46<sup>(1)</sup> |  | 183325 | 174214 |
| Subway Funding LLC, Series 2024-1A, Class A2I, SEQ, 6.03%, 7/30/54<sup>(1)</sup> |  | 545875 | 553949 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55<sup>(1)</sup> | $374037 | $385431 |
| VB-S1 Issuer LLC, Series 2022-1A, Class D, 4.29%, 2/15/52<sup>(1)</sup> | 250000 | 246062 |
| VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.87%, 5/15/54<sup>(1)</sup> | 275000 | 285417 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 334416 | 334758 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(1)</sup> | 247406 | 250622 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $12,164,948) |  | **12193240** |
| **U.S. TREASURY SECURITIES — 9.0%** |  |  |
| U.S. Treasury Notes, 4.625%, 9/15/26<sup>(5)</sup> | 300000 | 302534 |
| U.S. Treasury Notes, 3.875%, 3/15/28 | 1100000 | 1107090 |
| U.S. Treasury Notes, 3.875%, 6/15/28 | 1400000 | 1409351 |
| U.S. Treasury Notes, 3.875%, 7/31/30 | 2000000 | 2012344 |
| U.S. Treasury Notes, 3.625%, 8/31/30 | 4200000 | 4179000 |
| U.S. Treasury Notes, 4.875%, 10/31/30<sup>(5)</sup> | 400000 | 420539 |
| U.S. Treasury Notes, 4.50%, 11/15/33<sup>(5)</sup> | 350000 | 361942 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $9,735,847) |  | **9792800** |
| **CONVERTIBLE PREFERRED SECURITIES — 8.2%** |  |  |
| **Banks — 7.7%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 411000 | 416669 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 600000 | 600523 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> | 560000 | 556610 |
| Banco Santander SA, 4.75% | 600000 | 590272 |
| Barclays PLC, 6.125%<sup>(3)</sup> | 372000 | 372474 |
| Barclays PLC, 8.00% | 298000 | 315845 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 36000 | 35474 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 690000 | 738094 |
| Danske Bank AS, 4.375% | 655000 | 651309 |
| HSBC Holdings PLC, 6.00% | 350000 | 351782 |
| HSBC Holdings PLC, 6.875%<sup>(3)</sup> | 200000 | 208096 |
| ING Groep NV, 5.75% | 215000 | 215904 |
| ING Groep NV, 7.50% | 400000 | 416191 |
| Lloyds Banking Group PLC, 6.75% | 210000 | 213382 |
| NatWest Group PLC, 6.00% | 540000 | 542729 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 635000 | 639007 |
| Skandinaviska Enskilda Banken AB, 6.875% | 600000 | 616250 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 500000 | 536797 |
| Standard Chartered PLC, VRN, 7.75%<sup>(1)</sup> | 202000 | 209776 |
| Svenska Handelsbanken AB, 4.375% | 200000 | 197042 |
|  |  | 8424226 |
| **Capital Markets — 0.5%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 490000 | 541790 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $8,847,618) |  | **8966016** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 7.3%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 6.6%** |  |  |
| Angel Oak Mortgage Trust, Series 2020-2, Class A2, VRN, 3.86%, 1/26/65<sup>(1)</sup> | $79959 | 78018 |
| BRAVO Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> | 352926 | 339691 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A6A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 307840 | 310027 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A9A, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 188272 | 190046 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 431620 | 436502 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 270360 | 271834 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 100200 | 100479 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | $396203 | $397871 |
| Citigroup Mortgage Loan Trust, Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 507278 | 514439 |
| COLT Mortgage Loan Trust, Series 2024-4, Class A2, 6.20%, 7/25/69<sup>(1)</sup> | 280620 | 283934 |
| EFMT, Series 2024-CES1, Class A2, 5.80%, 1/26/60<sup>(1)</sup> | 228000 | 231321 |
| GCAT Trust, Series 2021-NQM1, Class A3, SEQ, VRN, 1.15%, 1/25/66<sup>(1)</sup> | 57597 | 51829 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 170669 | 172038 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(1)</sup> | 233875 | 236855 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(1)</sup> | 447148 | 452410 |
| JP Morgan Mortgage Trust, Series 2024-1, Class A4, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 290970 | 293871 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 242035 | 243128 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 245764 | 246430 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 178223 | 179830 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 109041 | 109702 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 211845 | 215017 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 400943 | 404612 |
| MFA Trust, Series 2024-NQM1, Class A2, SEQ, 6.83%, 3/25/69<sup>(1)</sup> | 161425 | 163913 |
| OBX Trust, Series 2024-NQM7, Class A1, 6.24%, 3/25/64<sup>(1)</sup> | 231916 | 235165 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 84904 | 85127 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 102894 | 103101 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 150833 | 151543 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.76%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(1)</sup> | 157507 | 159020 |
| Verus Securitization Trust, Series 2021-R3, Class M1, SEQ, VRN, 2.41%, 4/25/64<sup>(1)</sup> | 315000 | 282342 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.19%, 6/25/69<sup>(1)</sup> | 259162 | 262948 |
|  |  | 7203043 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.7%** |  |  |
| FHLMC, Series 2022-DNA5, Class M1A, VRN, 7.31%, (30-day average SOFR plus 2.95%), 6/25/42<sup>(1)</sup> | 92251 | 94111 |
| FHLMC, Series 2022-DNA6, Class M1A, VRN, 6.51%, (30-day average SOFR plus 2.15%), 9/25/42<sup>(1)</sup> | 44007 | 44260 |
| FHLMC, Series 2023-HQA2, Class M1A, VRN, 6.36%, (30-day average SOFR plus 2.00%), 6/25/43<sup>(1)</sup> | 47567 | 47786 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 | 254961 | 44441 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 | 174065 | 26586 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 2278537 | 293514 |
| FNMA, Series 2023-R05, Class 1M1, VRN, 6.26%, (30-day average SOFR plus 1.90%), 6/25/43<sup>(1)</sup> | 147410 | 148552 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 | 175192 | 24448 |
|  |  | 723698 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $7,807,020) |  | **7926741** |
| **PREFERRED SECURITIES — 4.0%** |  |  |
| **Banks — 1.4%** |  |  |
| Bank of America Corp., 4.375%<sup>(3)</sup> | 245000 | 241256 |
| Bank of America Corp., 6.25% | 245000 | 248351 |
| Citigroup, Inc., 3.875% | 343000 | 340211 |
| Citigroup, Inc., 4.00% | 327000 | 326126 |
| Citigroup, Inc., 6.25% | 325000 | 327443 |
| M&T Bank Corp., 5.125% | 11000 | 11016 |
|  |  | 1494403 |
| **Capital Markets — 0.4%** |  |  |
| Charles Schwab Corp., 4.00% | 484000 | 479090 |
| **Consumer Finance — 0.2%** |  |  |
| Ally Financial, Inc., 4.70% | 255000 | 235455 |
| **Multi-Utilities — 0.2%** |  |  |
| Sempra, 4.875% | 215000 | 215232 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 1.0%** |  |  |
| Energy Transfer LP, 6.50% | 525000 | $528838 |
| Sunoco LP, 7.875%<sup>(1)</sup> | 232000 | 235794 |
| Venture Global LNG, Inc., 9.00%<sup>(1)</sup> | 270000 | 267781 |
|  |  | 1032413 |
| **Trading Companies and Distributors — 0.8%** |  |  |
| Air Lease Corp., 4.65% | 270000 | 266887 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 652000 | 649222 |
|  |  | 916109 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $4,332,923) |  | **4372702** |
| **EXCHANGE-TRADED FUNDS — 2.9%** |  |  |
| SPDR Bloomberg Short Term High Yield Bond ETF<br>(Cost $3,176,890) | 125247 | **3206323** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.9%** |  |  |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 2.9%** |  |  |
| FHLMC, 5.50%, 4/1/54 | $1114830 | 1133225 |
| FNMA, 5.50%, 5/1/53 | 1306835 | 1323148 |
| FNMA, 6.00%, 9/1/53 | 702710 | 724482 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES** <br>(Cost $3,118,132) |  | **3180855** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.1%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | 82000 | 66608 |
| Bank, Series 2020-BN26, Class D, 2.50%, 3/15/63<sup>(1)</sup> | 509000 | 381112 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 6.42%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(6)(7)</sup> | 172000 | 2709 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class E, VRN, 7.11%, (1-month SOFR plus 2.96%), 11/15/34<sup>(1)(6)(7)</sup> | 183000 | 1921 |
| BBCMS Mortgage Trust, Series 2019-C4, Class D, 3.25%, 8/15/52<sup>(1)</sup> | 109000 | 68115 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.25%, 7/15/51<sup>(1)</sup> | 128000 | 99969 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 88000 | 58035 |
| BX Commercial Mortgage Trust, Series 2020-VIVA, Class D, VRN, 3.67%, 3/11/44<sup>(1)</sup> | 350000 | 323624 |
| BXP Trust, Series 2017-CC, Class D, VRN, 3.67%, 8/13/37<sup>(1)</sup> | 180000 | 151236 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.77%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 235000 | 232950 |
| CSAIL Commercial Mortgage Trust, Series 2019-C15, Class D, 3.00%, 3/15/52<sup>(1)</sup> | 169000 | 136785 |
| Extended Stay America Trust, Series 2021-ESH, Class E, VRN, 7.11%, (1-month SOFR plus 2.96%), 7/15/38<sup>(1)</sup> | 150103 | 150378 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-AON, Class A, SEQ, 4.13%, 7/5/31<sup>(1)</sup> | 175000 | 160512 |
| Life Mortgage Trust, Series 2021-BMR, Class D, VRN, 5.66%, (1-month SOFR plus 1.51%), 3/15/38<sup>(1)</sup> | 196000 | 194836 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 78000 | 65173 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.92%, 12/10/34<sup>(1)</sup> | 120000 | 121508 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.31%, 12/15/51<sup>(1)</sup> | 66000 | 60111 |
| Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 72000 | 48035 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $2,614,802) |  | **2323617** |
| **COLLATERALIZED LOAN OBLIGATIONS — 1.7%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.61%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | 130206 | 130273 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 6.41%, (1-month SOFR plus 2.26%), 9/15/35<sup>(1)</sup> | 179263 | 179367 |
| CIFC Funding Ltd., Series 2018-1A, Class CR, VRN, 6.13%, (3-month SOFR plus 1.80%), 1/18/38<sup>(1)</sup> | 275000 | 275427 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 6.17%, (3-month SOFR plus 1.96%), 11/15/28<sup>(1)</sup> | 250000 | 250601 |
| Magnetite XLI Ltd., Series 2024-41A, Class C, VRN, 6.10%, (3-month SOFR plus 1.78%), 1/25/38<sup>(1)</sup> | 250000 | 250581 |
| Magnetite XXVIII Ltd., Series 2020-28A, Class CRR, VRN, 6.07%, (3-month SOFR plus 1.75%), 1/15/38<sup>(1)</sup> | 250000 | 250514 |
| Ready Capital Mortgage Financing LLC, Series 2023-FL11, Class A, VRN, 6.53%, (1-month SOFR plus 2.37%), 10/25/39<sup>(1)</sup> | 1727 | 1728 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Sixth Street CLO VIII Ltd., Series 2017-8A, Class BR2, VRN, 6.13%, (3-month SOFR plus 1.80%), 10/20/34<sup>(1)</sup> | $475000 | $476141 |
| TRTX Issuer Ltd., Series 2021-FL4, Class A, VRN, 5.46%, (1-month SOFR plus 1.31%), 3/15/38<sup>(1)</sup> | 61184 | 61200 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $1,862,415) |  | **1875832** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 0.9%** |  |  |
| **Bahamas — 0.2%** |  |  |
| Bahamas Government International Bonds, 8.25%, 6/24/36<sup>(1)</sup> | 200000 | 216312 |
| **Colombia — 0.2%** |  |  |
| Colombia Government International Bonds, 7.75%, 11/7/36 | 200000 | 209900 |
| **Egypt — 0.2%** |  |  |
| Egypt Government International Bonds, 8.50%, 1/31/47<sup>(1)</sup> | 300000 | 265309 |
| **Luxembourg — 0.3%** |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> | 262000 | 266142 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $926,747) |  | **957663** |
| **BANK LOAN OBLIGATIONS**<sup>(8)</sup> **— 0.7%** |  |  |
| **Passenger Airlines — 0.4%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.50%, (6-month SOFR plus 2.25%), 2/15/28 | 397700 | 397617 |
| **Pharmaceuticals — 0.3%** |  |  |
| Endo Luxembourg Finance Co. I SARL, 2024 1st Lien Term Loan, 8.16%, (1-month SOFR plus 4.00%), 4/23/31 | 361350 | 362517 |
| **TOTAL BANK LOAN OBLIGATIONS**<br>(Cost $754,292) |  | **760134** |
| **MUNICIPAL SECURITIES — 0.4%** |  |  |
| Florida Local Government Finance Commission Rev., (Ponte Vedra Pine Co. LLC Obligated <br>Group), 6.75%, 11/15/30 <sup>(1)</sup><br>(Cost $445,000) | 445000 | **446563** |
| **SHORT-TERM INVESTMENTS — 5.6%** |  |  |
| **Money Market Funds — 3.4%** |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(9)</sup> | 3687193 | 3687193 |
| **Repurchase Agreements — 2.2%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.625%, 2/15/55, valued at $2,501,189), at 4.19%, dated 9/30/25, due 10/1/25 (Delivery value $2,452,285) |  | 2452000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $6,139,193) |  | **6139193** |
| **TOTAL INVESTMENT SECURITIES — 104.5%**<br>(Cost $113,537,397) |  | **114393397** |
| **OTHER ASSETS AND LIABILITIES — (4.5)%** |  | **(4937908)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**109455489** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 141977 | CAD | 195741 | Citibank NA | 12/17/25 | $823 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 10-Year Notes | 95 | December 2025 | $10687500 | $23924 |
| U.S. Treasury 10-Year Ultra Notes | 122 | December 2025 | 14039531 | 116903 |
|  |  |  | $24727031 | $140827 |

---

^Amount represents value and unrealized appreciation (depreciation).

------

Schedule of Investments - Multisector Income Fund

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional <br>Amount** | **Unrealized <br>Appreciation <br>(Depreciation)^** |
| U.S. Treasury Long Bonds | 12 | December 2025 | $1399125 | $(25070) |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CAD | Canadian Dollar |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| H15T5Y | Constant Maturity U.S. Treasury Note Yield Curve Rate Index 5 Year |
| IO | Interest Only |
| SEQ | Sequential Payer |
| SOFR | Secured Overnight Financing Rate |
| USD | United States Dollar |
| VRN | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $62,394,443, which represented 57.0% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $3,846,655. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(4)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(5)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts and/or futures contracts. At the period end, the aggregate value of securities pledged was $748,845.

(6)Security is in default.

(7)Non-income producing.

(8)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(9)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $3,979,290, which includes securities collateral of $292,097.

------

Schedule of Investments - Multisector Income Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the level classifications as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $52251718 |  |
| Asset-Backed Securities |  | 12193240 |  |
| U.S. Treasury Securities |  | 9792800 |  |
| Convertible Preferred Securities |  | 8966016 |  |
| Collateralized Mortgage Obligations |  | 7926741 |  |
| Preferred Securities |  | 4372702 |  |
| Exchange-Traded Funds | $3206323 |  |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 3180855 |  |
| Commercial Mortgage-Backed Securities |  | 2323617 |  |
| Collateralized Loan Obligations |  | 1875832 |  |
| Sovereign Governments and Agencies |  | 957663 |  |
| Bank Loan Obligations |  | 760134 |  |
| Municipal Securities |  | 446563 |  |
| Short-Term Investments | 3687193 | 2452000 |  |
|  | $6893516 | $107499881 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $140827 |  |  |
| Forward Foreign Currency Exchange Contracts |  | $823 |  |
|  | $140827 | $823 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $25070 |  |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Foreign Currency** | **Interest Rate** | **Total** |
| **Asset Derivatives:** | | | |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts | $823 |  | $823 |
| **Liability Derivatives:** |  |  |  |
| &nbsp;&nbsp;Payable for variation margin on futures contracts\* |  | $5922 | $5922 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts as reported in the Schedule of Investments.

------

Schedule of Investments - Multisector Income Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Net realized gain (loss) on:** | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions |  | $(4197) |  | $(4197) |
| &nbsp;&nbsp;Futures contract transactions |  |  | $540548 | 540548 |
| &nbsp;&nbsp;Swap agreement transactions | $(23749) |  |  | (23749) |
|  |  |  |  | $512602 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $847 |  | $847 |
| &nbsp;&nbsp;Futures contracts |  |  | $(7269) | (7269) |
| &nbsp;&nbsp;Swap agreements | $(43660) |  |  | (43660) |
|  |  |  |  | $(50082) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Prime Money Market Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMERCIAL PAPER**<sup>(1)</sup> **— 45.3%** | **Principal Amount** | **Value** |
| Alinghi Funding Co. LLC, VRN, 4.42%, (SOFR plus 0.29%), 3/11/26 (LOC: UBS AG)<sup>(2)</sup> | $35000000 | $35000000 |
| Alinghi Funding Co. LLC, VRN, 4.45%, (SOFR plus 0.32%), 3/26/26 (LOC: UBS AG)<sup>(2)</sup> | 25000000 | 25000000 |
| Banco Santander SA, 4.43%, 1/14/26 | 25000000 | 25000000 |
| BNP Paribas SA, VRN, 4.37%, (SOFR plus 0.24%), 11/6/25 | 21500000 | 21500000 |
| Chesham Finance Ltd./Chesham Finance LLC, VRN, 4.14%, (SOFR plus 0.01%), 11/13/25 (LOC: Nordea Bank)<sup>(2)</sup> | 50000000 | 50000000 |
| Chesham Finance Ltd./Chesham Finance LLC, VRN, 4.14%, (SOFR plus 0.01%), 12/17/25 (LOC: Nordea Bank)<sup>(2)</sup> | 50000000 | 50000000 |
| Collateralized Commercial Paper V Co. LLC, 4.45%, 1/20/26 (LOC: JP Morgan Securities LLC)<sup>(2)</sup> | 25000000 | 25000000 |
| Collateralized Commercial Paper V Co. LLC, VRN, 4.41%, (SOFR plus 0.28%), 3/6/26 (LOC: JP Morgan Securities LLC)<sup>(2)</sup> | 25000000 | 25000000 |
| Columbia Funding Co. LLC, VRN, 4.50%, (SOFR plus 0.37%), 6/29/26 (LOC: JP Morgan Chase Bank)<sup>(2)</sup> | 20000000 | 20000000 |
| Concord Minutemen Capital Co. LLC, 4.49%, 10/24/25 (LOC: Goldman Sachs International)<sup>(2)</sup> | 4469000 | 4456351 |
| Concord Minutemen Capital Co. LLC, VRN, 4.38%, (SOFR plus 0.25%), 2/23/26 (LOC: Goldman Sachs International)<sup>(2)</sup> | 22500000 | 22500000 |
| Concord Minutemen Capital Co. LLC, Series B, VRN, 4.50%, (SOFR plus 0.37%), 11/5/25 (LOC: Goldman Sachs International)<sup>(2)</sup> | 15000000 | 15000000 |
| Endeavour Funding Co. LLC, VRN, 4.40%, (SOFR plus 0.27%), 12/23/25 (LOC: HSBC Bank PLC)<sup>(2)</sup> | 29300000 | 29300000 |
| Endeavour Funding Co. LLC, VRN, 4.43%, (SOFR plus 0.30%), 1/6/26 (LOC: HSBC Bank PLC)<sup>(2)</sup> | 42500000 | 42500000 |
| Endeavour Funding Co. LLC, VRN, 4.20%, (SOFR plus 0.07%), 3/12/26 (LOC: HSBC Bank PLC)<sup>(2)</sup> | 40000000 | 40000000 |
| Falcon Asset Funding LLC, VRN, 4.43%, (SOFR plus 0.27%), 1/22/26 (LOC: JP Morgan Chase Bank)<sup>(2)</sup> | 25000000 | 25000000 |
| Glencove Funding LLC, VRN, 4.15%, (SOFR plus 0.02%), 11/17/25 (LOC: Standard Chartered Bank)<sup>(2)</sup> | 50000000 | 50000000 |
| Hqla Funding LLC, 4.50%, 10/15/25 (LOC: Merrill Lynch International)<sup>(2)</sup> | 20000000 | 19965467 |
| HQLA Funding LLC, Series CHAM, 4.18%, 10/1/25 (LOC: Credit Agricole Corporate and Investment Bank)<sup>(2)</sup> | 103500000 | 103500000 |
| Intrepid Funding Co. LLC, 4.37%, 1/8/26 (LOC: Goldman Sachs International)<sup>(2)</sup> | 5000000 | 4940669 |
| Intrepid Funding Co. LLC, 4.28%, 2/12/26 (LOC: Goldman Sachs International)<sup>(2)</sup> | 1050000 | 1033507 |
| Ionic Funding LLC, 4.52%, 10/2/25 (LOC: Citibank N.A.)<sup>(2)</sup> | 138000 | 137983 |
| Ionic Funding LLC, Series IIA, 4.36%, 1/9/26 (LOC: Citibank N.A.)<sup>(2)</sup> | 25077000 | 24777469 |
| Ionic Funding LLC, Series IIA, 4.50%, 1/14/26 (LOC: Citibank N.A.)<sup>(2)</sup> | 25000000 | 24676250 |
| Ionic Funding LLC, Series IIA, 4.31%, 1/16/26 (LOC: Citibank N.A.)<sup>(2)</sup> | 14250000 | 14069995 |
| Ionic Funding LLC, Series MCIA, 4.46%, 10/24/25 (LOC: Bank of America N.A.)<sup>(2)</sup> | 20000000 | 19943778 |
| Ionic Funding LLC, Series MCIA, 4.31%, 1/6/26 (LOC: Bank of America N.A.)<sup>(2)</sup> | 25000000 | 24713715 |
| Ionic Funding LLC, Series MCIA, 4.26%, 1/23/26 (LOC: Bank of America N.A.)<sup>(2)</sup> | 21034000 | 20754248 |
| Memorial Health System, 4.29%, 11/21/25<sup>(2)</sup> | 15000000 | 14910113 |
| Memorial Health System, 4.35%, 1/21/26<sup>(2)</sup> | 15000000 | 14799800 |
| Toronto-Dominion Bank, 4.31%, 5/6/26 | 25000000 | 25000000 |
| Toyota Credit Canada, Inc., 4.16%, 4/6/26<sup>(2)</sup> | 25000000 | 24467569 |
| Toyota Credit de Puerto Rico Corp., 4.35%, 2/23/26<sup>(2)</sup> | 22000000 | 21619858 |
| Verto Capital Compartment B, VRN, 4.20%, (SOFR plus 0.07%), 12/9/25 (LOC: Societe Generale SA)<sup>(2)</sup> | 64000000 | 64000000 |
| Verto Capital Compartment B, VRN, 4.20%, (SOFR plus 0.07%), 3/26/26 (LOC: Societe Generale SA)<sup>(2)</sup> | 25000000 | 25000000 |
| Verto Capital I Compartment A, VRN, 4.20%, (SOFR plus 0.07%), 3/26/26 (LOC: UBS AG)<sup>(2)</sup> | 50000000 | 50000000 |
| Verto Capital I Compartment C, VRN, 4.30%, (SOFR plus 0.17%), 3/19/26 (LOC: Citigroup Global Marketslimited)<sup>(2)</sup> | 25000000 | 25000000 |
| Verto Capital I Compartment C, VRN, 4.20%, (SOFR plus 0.07%), 3/25/26 (LOC: Citigroup Global Marketslimited)<sup>(2)</sup> | 15000000 | 15000000 |
| Washington Morgan Capital Co. LLC, VRN, 4.41%, (SOFR plus 0.28%), 12/29/25 (LOC: Goldman Sachs & Co.)<sup>(2)</sup> | 17500000 | 17500000 |
| Washington Morgan Capital Co. LLC, VRN, 4.41%, (SOFR plus 0.28%), 1/21/26 (LOC: Goldman Sachs & Co.)<sup>(2)</sup> | 20000000 | 20000000 |
| Washington Morgan Capital Co. LLC, Series A, VRN, 4.43%, (SOFR plus 0.30%), 12/19/25 (LOC: Goldman Sachs & Co.)<sup>(2)</sup> | 37500000 | 37500000 |
| Westpac Banking Corp., VRN, 4.39%, (SOFR plus 0.26%), 1/22/26 | 10000000 | 10000904 |
| **TOTAL COMMERCIAL PAPER** |  | **1128567676** |
| **CORPORATE BONDS — 21.4%** |  |  |
| 412 Madison LLC, VRDN, 4.20%, 10/7/25 (LOC: FNMA) | 21220000 | 21220000 |
| 500 Columbia Place LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 10000000 | 10000000 |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| AHI Fund II LLC, VRDN, 4.16%, 10/7/25 (LOC: PNC Bank N.A.) | $5550000 | $5550000 |
| Allen C Stonecipher Life Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 22885000 | 22885000 |
| Anton Santa Cruz LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 15245000 | 15245000 |
| Bank of Montreal, VRN, 4.56%, (1 yr. SOFR Swap plus 0.75%), 2/17/26 | 10000000 | 9994964 |
| Barbour Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 11000000 | 11000000 |
| Bellevue 10 Apartments LLC, VRDN, 4.24%, 10/10/25 (LOC: Northern Trust Company) | 12570000 | 12570000 |
| Campos Charitable Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6245000 | 6245000 |
| Champion Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4320000 | 4320000 |
| Citibank NA, 5.44%, 4/30/26 | 10536000 | 10588408 |
| Cypress Bend Real Estate Development Co. LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9365000 | 9365000 |
| Foothill Garden NV Investors LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 12950000 | 12950000 |
| General Secretariat of the Organization of American States, VRDN, 4.16%, 10/7/25 (LOC: Bank of America N.A.) | 10150000 | 10150000 |
| Gold River 659 LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 12000000 | 12000000 |
| Jefferson Exchange at Riverside LLC, Series B, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 28210000 | 28210000 |
| Jefferson Monrovia South LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 39385000 | 39385000 |
| JH9053 Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 5610000 | 5610000 |
| JoEllyn G Slott Family Trust, Series 2023, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6035000 | 6035000 |
| KDF Glenview LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 8000000 | 8000000 |
| Krawitz Family Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4000000 | 4000000 |
| Labcon North America, VRDN, 4.45%, 10/7/25 (LOC: BMO Bank N.A.) | 5370000 | 5370000 |
| Labcon North America, VRDN, 4.45%, 10/7/25 (LOC: BMO Bank N.A.) | 1845000 | 1845000 |
| Leo@cartersville LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 2100000 | 2100000 |
| Morgan Stanley, 3.88%, 1/27/26 | 6585000 | 6573014 |
| Ness Family Partners LP, VRDN, 4.45%, 10/7/25 (LOC: BMO Bank N.A.) | 3080000 | 3080000 |
| New York Life Global Funding, 0.85%, 1/15/26 (LOC: New York Life Insurance Company)<sup>(2)</sup> | 1580000 | 1563853 |
| Nicholas David Nurse 2020 Irrevocable Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9780000 | 9780000 |
| Nuveen Credit Strategies Income Fund, VRDN, 4.25%, 10/7/25 (LOC: Societe Generale SA)<sup>(2)</sup> | 16000000 | 16000000 |
| Nuveen Preferred & Income Opportunities Fund, VRDN, 4.22%, 10/7/25 (LOC: Sumitomo Mitsui Banking)<sup>(2)</sup> | 20000000 | 20000000 |
| Nuveen Variable Rate Preferred & Income Fund, VRDN, 4.27%, 10/7/25<br>(LOC: Toronto-Dominion Bank)<sup>(2)</sup> | 42500000 | 42500000 |
| Richard & Allison Leigh Insurance Trust, VRDN, 4.35%, 10/7/25 (LOC: Commerce Bank (Missouri)) | 5575000 | 5575000 |
| Shil Park Irrevocable Life Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 15000000 | 15000000 |
| SRM Culver City LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 23280000 | 23280000 |
| SRMHayward LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 11800000 | 11800000 |
| Steve Welch Family Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6265000 | 6265000 |
| Stobro Co. LP, VRDN, 4.25%, 10/7/25 (LOC: FHLB) | 6665000 | 6665000 |
| Sundowner Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6000000 | 6000000 |
| Supreme Satori Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 5000000 | 5000000 |
| Synergy Colgan Creek LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 14030000 | 14030000 |
| Toronto-Dominion Bank, 0.75%, 1/6/26 | 9408000 | 9316347 |
| Trinity Mills Multifamily I Owner LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 11070000 | 11070000 |
| UBS Group AG, 4.55%, 4/17/26 | 8500000 | 8508952 |
| Uptown Newport Building Owner LP, VRDN, 4.25%, 10/7/25 (LOC: Landesbank Hessen-Thuringen Girozentrale) | 16085000 | 16085000 |
| Valencia Grove II LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 3400000 | 3400000 |
| Wells Fargo Bank NA, 4.81%, 1/15/26 | 13879000 | 13889226 |
| World Changers Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 3575000 | 3575000 |
| **TOTAL CORPORATE BONDS** |  | **533594764** |
| **MUNICIPAL SECURITIES — 17.5%** |  |  |
| Allen Independent School District GO, Capital Appreciation, 4.22%, 2/15/26 | 2200000 | 2165119 |
| City & County of San Francisco COP, VRDN, 4.42%, 10/7/25 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 18000000 | 18000000 |
| Deutsche Bank Spears/Lifers Trust Rev., VRDN, 4.66%, 1/5/26 (LIQ FAC: Deutsche Bank A.G.)(GA: Deutsche Bank A.G.)<sup>(2)</sup> | 65250000 | 65250000 |
| Deutsche Bank Spears/Lifers Trust Rev., VRDN, Series DBE-8909, 4.66%, 1/5/26 (LIQ FAC: Deutsche Bank A.G.)(GA: Deutsche Bank A.G.)<sup>(2)</sup> | 36955000 | 36955000 |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| Illinois Housing Development Authority Rev., (RMW Lake Shore LLC), VRDN, Series C-3, 4.10%, 10/7/25 (LOC: Wells Fargo Bank N.A.) | $10000 | $10000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2020-MIZ9043, 4.21%, 10/1/25 (LOC: Mizuho Bank Ltd.)(LIQ FAC: Mizuho Bank Ltd.)(GA: FHLMC)<sup>(2)</sup> | 7500000 | 7500000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2023-MIZ9147TX, 4.56%, 11/4/25 (LIQ FAC: Mizuho Capital Markets LLC)(LOC: Mizuho Bank Ltd.)<sup>(2)</sup> | 16220000 | 16220000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2024-MIZ9164TX, 4.31%, 11/4/25 (LIQ FAC: Mizuho Capital Markets LLC)(LOC: Mizuho Bank Ltd.)<sup>(2)</sup> | 48450000 | 48450000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2024-MIZ9172, 4.31%, 11/4/25 (LIQ FAC: Mizuho Capital Markets LLC)(LOC: Mizuho Bank Ltd.)<sup>(2)</sup> | 16685000 | 16685000 |
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), VRDN, 4.42%, 10/7/25 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 16000000 | 16000000 |
| New York City Transitional Finance Authority Future Tax Secured Revenue Rev., Series A-2, 0.84%, 11/1/25 | 10000000 | 9969649 |
| New York State Dormitory Authority Rev., VRDN, 4.42%, 10/7/25 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 16000000 | 16000000 |
| New York State Dormitory Authority Rev., (State of New York Personal Income Tax), VRDN, Series 2016-XFT910, 4.42%, 10/7/25 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 12000000 | 12000000 |
| State of Connecticut GO, Series A, 5.13%, 3/15/26 | 5000000 | 5017452 |
| Taxable Municipal Funding Trust Rev., VRDN, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)(LIQ FAC: Barclays Bank PLC)<sup>(2)</sup> | 6298000 | 6298000 |
| Taxable Municipal Funding Trust Rev., VRDN, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 13750000 | 13750000 |
| Taxable Municipal Funding Trust Rev., VRDN, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 21449000 | 21449000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2024, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 3048000 | 3048000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2024, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 37000000 | 37000000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2025-004, 4.45%, 11/4/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 16240000 | 16240000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.22%, 10/7/25 (LOC: Royal Bank of Canada)<sup>(2)</sup> | 5000000 | 5000000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.25%, 10/7/25 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 17498699 | 17498699 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.27%, 10/7/25 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 3500000 | 3500000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.27%, 10/7/25 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 3900000 | 3900000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.27%, 10/7/25 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 5625000 | 5625000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.27%, 10/7/25 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 12125000 | 12125000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 4.36%, 10/7/25 (LIQ FAC: Mizhuho Capital Markets LLC)(LOC: Mizhuho Capital Markets LLC)<sup>(2)</sup> | 3400000 | 3400000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, Series 2016-XFT907, 4.27%, 10/7/25 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 16000000 | 16000000 |
| **TOTAL MUNICIPAL SECURITIES** |  | **435055919** |
| **U.S. TREASURY SECURITIES**<sup>(1)</sup> **— 10.4%** |  |  |
| U.S. Treasury Bills, 4.29%, 10/7/25 | 9990000 | 9982949 |
| U.S. Treasury Bills, 4.21%, 11/13/25 | 15000000 | 14929650 |
| U.S. Treasury Bills, 4.11%, 12/23/25 | 19900000 | 19714184 |
| U.S. Treasury Bills, 4.17%, 1/2/26 | 20000000 | 19798946 |
| U.S. Treasury Bills, 4.20%, 1/8/26 | 5000000 | 4943006 |
| U.S. Treasury Bills, 4.18%, 1/15/26 | 5000000 | 4939271 |
| U.S. Treasury Bills, 4.04%, 1/22/26 | 10500000 | 10368661 |
| U.S. Treasury Bills, 3.99%, 2/12/26 | 5000000 | 4926672 |
| U.S. Treasury Bills, 3.97%, 2/26/26 | 15000000 | 14758575 |
| U.S. Treasury Notes, 0.75%, 3/31/26 | 10000000 | 9842303 |
| U.S. Treasury Notes, 4.50%, 3/31/26 | 10000000 | 10023094 |
| U.S. Treasury Notes, 2.38%, 4/30/26 | 10000000 | 9894548 |
| U.S. Treasury Notes, 4.88%, 4/30/26 | 10000000 | 10041843 |
| U.S. Treasury Notes, VRN, 4.14%, (3-month USBMMY plus 0.25%), 1/31/26 | 90000000 | 90029953 |
| U.S. Treasury Notes, VRN, 4.05%, (3-month USBMMY plus 0.15%), 4/30/26 | 25000000 | 24997861 |
| **TOTAL U.S. TREASURY SECURITIES** |  | **259191516** |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
|<br>**CERTIFICATES OF DEPOSIT — 5.6%** | **Principal Amount** | **Value** |
| Bank of Montreal, VRN, 4.43%, (SOFR plus 0.30%), 3/9/26 | $22500000 | $22500000 |
| Bank of Montreal, VRN, 4.43%, (SOFR plus 0.30%), 3/20/26 | 22500000 | 22500000 |
| Canadian Imperial Bank of Commerce, VRN, 4.43%, (SOFR plus 0.30%), 4/16/26 | 25000000 | 25000000 |
| Canadian Imperial Bank of Commerce, VRN, 4.43%, (SOFR plus 0.30%), 4/17/26 | 25000000 | 25000000 |
| Nordea Bank Abp, 5.53%, 11/3/25 | 5000000 | 5004188 |
| Toronto-Dominion Bank, 4.50%, 10/7/25<sup>(2)</sup> | 2000000 | 1999989 |
| Toronto-Dominion Bank, 4.39%, 1/23/26<sup>(2)</sup> | 12750000 | 12750000 |
| Toronto-Dominion Bank, VRN, 4.54%, (SOFR plus 0.38%), 1/22/26<sup>(2)</sup> | 25000000 | 25000000 |
| **TOTAL CERTIFICATES OF DEPOSIT** |  | **139754177** |
| **REPURCHASE AGREEMENTS — 1.1%** |  |  |
| Fixed Income Clearing Corp.(collateralized by various U.S. Treasury obligations, 4.50%, 11/15/54, valued at $26,900,536) at 4.19%, dated 9/30/25, due 10/1/25 (Delivery value $26,376,070), |  | **26373000** |
| **TOTAL INVESTMENT SECURITIES — 101.3%** |  | **2522537052** |
| **OTHER ASSETS AND LIABILITIES — (1.3)%** |  | **(33256495)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**2489280557** |

---

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| COP | – | Certificates of Participation |
| FHLB | – | Federal Home Loan Bank |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| GA | – | Guaranty Agreement |
| GO | – | General Obligation |
| LIQ FAC | – | Liquidity Facilities |
| LOC | – | Letter of Credit |
| SOFR | – | Secured Overnight Financing Rate |
| USBMMY | – | U.S. Treasury Bill Money Market Yield |
| VRDN | – | Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed. |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $1,584,774,313, which represented 63.7% of total net assets.

**FAIR VALUE MEASUREMENTS**

As of period end, the fund's investment securities were classified as Level 2.

See Notes to Financial Statements.

------

Schedule of Investments - Short Duration Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 36.0%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Aerospace and Defense — 0.4%** | | |
| Boeing Co., 2.20%, 2/4/26 | $3295000 | $3270461 |
| Boeing Co., 6.30%, 5/1/29 | 1490000 | 1581682 |
|  |  | 4852143 |
| **Automobiles — 1.7%** |  |  |
| Ford Motor Credit Co. LLC, 5.125%, 11/5/26 | 2950000 | 2960668 |
| Ford Motor Credit Co. LLC, 5.80%, 3/5/27 | 2900000 | 2930208 |
| General Motors Financial Co., Inc., 5.40%, 4/6/26 | 2810000 | 2825951 |
| Hyundai Capital America, 5.95%, 9/21/26<sup>(1)</sup> | 2365000 | 2403051 |
| Hyundai Capital America, 4.875%, 11/1/27<sup>(1)</sup> | 3515000 | 3555055 |
| Volkswagen Group of America Finance LLC, 4.90%, 8/14/26<sup>(1)</sup> | 2110000 | 2120364 |
| Volkswagen Group of America Finance LLC, 6.00%, 11/16/26<sup>(1)</sup> | 2265000 | 2305752 |
|  |  | 19101049 |
| **Banks — 8.8%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 2800000 | 2532723 |
| Banco Santander SA, VRN, 6.53%, 11/7/27 | 4800000 | 4918301 |
| Banco Santander SA, VRN, 5.37%, 7/15/28 | 2400000 | 2449789 |
| Bank of America Corp., VRN, 5.93%, 9/15/27 | 5780000 | 5876829 |
| Bank of America Corp., VRN, 4.98%, 1/24/29 | 3500000 | 3565325 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 1243000 | 1322383 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 2374000 | 2526214 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 1385000 | 1488513 |
| Banque Federative du Credit Mutuel SA, 4.59%, 10/16/28<sup>(1)</sup> | 1667000 | 1682813 |
| Canadian Imperial Bank of Commerce, VRN, 7.00%, 10/28/85 | 978000 | 1005555 |
| Citibank NA, 4.58%, 5/29/27 | 3050000 | 3078460 |
| Citibank NA, VRN, 4.88%, 11/19/27 | 2295000 | 2313354 |
| Citigroup, Inc., VRN, 4.64%, 5/7/28 | 2915000 | 2935626 |
| Comerica, Inc., VRN, 5.98%, 1/30/30 | 2830000 | 2945605 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 1740000 | 1737606 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 1650000 | 1737344 |
| Goldman Sachs Bank USA, VRN, 5.41%, 5/21/27 | 2950000 | 2973165 |
| HSBC Holdings PLC, VRN, 7.39%, 11/3/28 | 1850000 | 1965025 |
| HSBC USA, Inc., 4.65%, 6/3/28 | 2138000 | 2168707 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 4420000 | 4180837 |
| JPMorgan Chase & Co., VRN, 4.51%, 10/22/28 | 1104000 | 1113736 |
| KBC Group NV, VRN, 4.45%, 9/23/31<sup>(1)</sup> | 3907000 | 3887804 |
| Morgan Stanley Bank NA, VRN, 5.02%, 1/12/29 | 2855000 | 2906776 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 495000 | 502632 |
| National Bank of Canada, VRN, 5.60%, 7/2/27 | 3150000 | 3181740 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 2213000 | 2024948 |
| PNC Financial Services Group, Inc., VRN, 5.10%, 7/23/27 | 2470000 | 2486872 |
| Royal Bank of Canada, VRN, 4.97%, 1/24/29 | 2285000 | 2324648 |
| Royal Bank of Canada, VRN, 4.50%, 8/6/29 | 3074000 | 3098638 |
| Standard Chartered PLC, VRN, 5.55%, 1/21/29<sup>(1)</sup> | 2160000 | 2213187 |
| Synchrony Bank, 5.625%, 8/23/27 | 961000 | 981562 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 4385000 | 4640649 |
| Truist Bank, VRN, 4.67%, 5/20/27 | 2030000 | 2034704 |
| Truist Bank, VRN, 4.63%, 9/17/29 | 1520000 | 1532401 |
| U.S. Bank NA, VRN, 4.51%, 10/22/27 | 3300000 | 3311085 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Wells Fargo & Co., VRN, 4.90%, 1/24/28 | $2310000 | $2331522 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 2260000 | 2303353 |
| Zions Bancorp NA, VRN, 4.70%, 8/18/28 | 2874000 | 2883644 |
|  |  | 97164075 |
| **Building Products — 0.2%** |  |  |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 2670000 | 2649236 |
| **Capital Markets — 3.2%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 3130000 | 3174542 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 2365000 | 2343983 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 395000 | 402759 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 2760000 | 2796066 |
| Carlyle Secured Lending, Inc., 5.75%, 2/15/31<sup>(2)</sup> | 1719000 | 1710146 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 1000000 | 1014934 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 1210000 | 1149389 |
| Deutsche Bank AG, VRN, 4.875%, 12/1/32 | 1615000 | 1614363 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 4/25/30 | 1870000 | 1956898 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 860000 | 864697 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 2875000 | 2901727 |
| Morgan Stanley, VRN, 4.99%, 4/12/29 | 1487000 | 1516880 |
| Morgan Stanley, VRN, 6.41%, 11/1/29 | 2380000 | 2529992 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 2250000 | 2238969 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 2950000 | 2893244 |
| State Street Corp., VRN, 3.03%, 11/1/34 | 3750000 | 3521606 |
| UBS Group AG, VRN, 6.33%, 12/22/27<sup>(1)</sup> | 3225000 | 3306310 |
|  |  | 35936505 |
| **Chemicals — 0.1%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> | 1355000 | 586038 |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | 603000 | 618971 |
|  |  | 1205009 |
| **Commercial Services and Supplies — 0.2%** |  |  |
| Veralto Corp., 5.50%, 9/18/26 | 2260000 | 2288155 |
| **Consumer Finance — 0.5%** |  |  |
| American Express Co., VRN, 4.35%, 7/20/29 | 2315000 | 2329009 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)</sup> | 1138000 | 1103267 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 645000 | 653672 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 1134000 | 1137209 |
|  |  | 5223157 |
| **Diversified REITs — 1.2%** |  |  |
| COPT Defense Properties LP, 4.50%, 10/15/30<sup>(2)</sup> | 1840000 | 1828759 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 4570000 | 4485648 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 620000 | 572623 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 | 1520000 | 1688219 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 291000 | 308043 |
| Vornado Realty LP, 2.15%, 6/1/26 | 4382000 | 4302586 |
|  |  | 13185878 |
| **Diversified Telecommunication Services — 0.5%** |  |  |
| AT&T, Inc., 7.30%, 8/15/26 | 2015000 | 2055500 |
| Frontier Communications Holdings LLC, 6.00%, 1/15/30<sup>(1)</sup> | 2755000 | 2789818 |
| Sprint Capital Corp., 6.875%, 11/15/28 | 811000 | 872509 |
|  |  | 5717827 |
| **Electric Utilities — 1.8%** |  |  |
| Black Hills Corp., 4.55%, 1/31/31<sup>(2)</sup> | 2125000 | 2126274 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 2305000 | 2319833 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Evergy Kansas Central, Inc., 4.70%, 3/13/28 | $1154000 | $1168790 |
| Jersey Central Power & Light Co., 4.15%, 1/15/29<sup>(1)</sup> | 1834000 | 1832434 |
| Monongahela Power Co., 3.55%, 5/15/27<sup>(1)</sup> | 5027000 | 4984251 |
| Pinnacle West Capital Corp., 5.15%, 5/15/30 | 1877000 | 1931260 |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 5235000 | 5221985 |
|  |  | 19584827 |
| **Electrical Equipment — 0.4%** |  |  |
| Regal Rexnord Corp., 6.05%, 2/15/26 | 4340000 | 4361593 |
| **Entertainment — 0.2%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 2722000 | 2658850 |
| **Financial Services — 1.9%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 1090000 | 1115090 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> | 4415000 | 4517205 |
| Corebridge Global Funding, 4.45%, 10/2/30<sup>(1)(2)</sup> | 3640000 | 3638385 |
| Essent Group Ltd., 6.25%, 7/1/29 | 2380000 | 2494623 |
| Nationwide Building Society, 4.35%, 9/30/30<sup>(1)</sup> | 3315000 | 3304022 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 3626000 | 3582538 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 2270000 | 2348973 |
|  |  | 21000836 |
| **Food Products — 0.3%** |  |  |
| Mars, Inc., 4.60%, 3/1/28<sup>(1)</sup> | 2893000 | 2928999 |
| **Gas Utilities — 0.1%** |  |  |
| Snam SpA, 5.00%, 5/28/30<sup>(1)</sup> | 785000 | 796551 |
| **Health Care Equipment and Supplies — 0.2%** |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 2159000 | 2216547 |
| **Health Care Providers and Services — 2.3%** |  |  |
| Cardinal Health, Inc., 4.70%, 11/15/26 | 4320000 | 4351431 |
| Centene Corp., 4.25%, 12/15/27 | 3245000 | 3189242 |
| CVS Health Corp., 5.00%, 2/20/26 | 4965000 | 4972625 |
| HCA, Inc., 5.25%, 6/15/26 | 5000000 | 5010262 |
| IQVIA, Inc., 5.70%, 5/15/28 | 1294000 | 1337187 |
| Tenet Healthcare Corp., 6.25%, 2/1/27 | 3000000 | 3001529 |
| Universal Health Services, Inc., 1.65%, 9/1/26 | 3922000 | 3830503 |
|  |  | 25692779 |
| **Hotels, Restaurants and Leisure — 0.7%** |  |  |
| Hyatt Hotels Corp., 5.75%, 1/30/27 | 687000 | 700159 |
| Hyatt Hotels Corp., 5.05%, 3/30/28 | 2695000 | 2739512 |
| Marriott International, Inc., 5.45%, 9/15/26 | 3845000 | 3894053 |
|  |  | 7333724 |
| **Household Durables — 0.2%** |  |  |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(1)</sup> | 1980000 | 2009316 |
| **Industrial Conglomerates — 0.2%** |  |  |
| Honeywell International, Inc., 4.65%, 7/30/27 | 2190000 | 2216630 |
| **Insurance — 1.3%** |  |  |
| Athene Global Funding, 5.35%, 7/9/27<sup>(1)</sup> | 732000 | 745946 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 3535000 | 3687638 |
| Fortitude Global Funding, 4.625%, 10/6/28<sup>(1)(2)</sup> | 1842000 | 1844152 |
| GA Global Funding Trust, 2.25%, 1/6/27<sup>(1)</sup> | 3600000 | 3512500 |
| GA Global Funding Trust, 4.40%, 9/23/27<sup>(1)</sup> | 2865000 | 2871976 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 1375000 | 1355045 |
|  |  | 14017257 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **IT Services — 0.2%** | | |
| Kyndryl Holdings, Inc., 2.70%, 10/15/28 | $1809000 | $1724634 |
| **Life Sciences Tools and Services — 0.8%** |  |  |
| Illumina, Inc., 5.80%, 12/12/25 | 4130000 | 4135727 |
| Illumina, Inc., 4.65%, 9/9/26 | 2661000 | 2674102 |
| Thermo Fisher Scientific, Inc., 5.00%, 12/5/26 | 2290000 | 2317117 |
|  |  | 9126946 |
| **Media — 1.2%** |  |  |
| Lamar Media Corp., 3.75%, 2/15/28 | 2885000 | 2807366 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 2710000 | 2647324 |
| Paramount Global, 2.90%, 1/15/27 | 2387000 | 2338858 |
| Paramount Global, 4.95%, 1/15/31 | 1610000 | 1591999 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 960000 | 928415 |
| TEGNA, Inc., 4.625%, 3/15/28 | 2795000 | 2751401 |
|  |  | 13065363 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.3%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 2759000 | 2894645 |
| **Multi-Utilities — 0.6%** |  |  |
| Ameren Corp., 5.70%, 12/1/26 | 2175000 | 2209794 |
| WEC Energy Group, Inc., 4.75%, 1/9/26 | 4935000 | 4940679 |
|  |  | 7150473 |
| **Oil, Gas and Consumable Fuels — 2.5%** |  |  |
| Diamondback Energy, Inc., 5.20%, 4/18/27 | 4430000 | 4495487 |
| Enbridge, Inc., 5.90%, 11/15/26 | 2940000 | 2992456 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 3800000 | 3817279 |
| Energy Transfer LP, 5.625%, 5/1/27<sup>(1)</sup> | 3335000 | 3336526 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 252000 | 254652 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 1529000 | 1523570 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 6050000 | 5863869 |
| Repsol E&P Capital Markets U.S. LLC, 5.20%, 9/16/30<sup>(1)</sup> | 1592000 | 1604242 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 1485000 | 1538118 |
| Williams Cos., Inc., 5.40%, 3/2/26 | 1925000 | 1933879 |
|  |  | 27360078 |
| **Passenger Airlines — 0.8%** |  |  |
| American Airlines Pass-Through Trust, Class A, 3.70%, 4/1/28 | 108245 | 107628 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 3695073 | 3699843 |
| Delta Air Lines, Inc./SkyMiles IP Ltd., 4.50%, 10/20/25<sup>(1)</sup> | 158000 | 157810 |
| United Airlines, Inc., 4.375%, 4/15/26<sup>(1)</sup> | 3025000 | 3022956 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 1615000 | 1591492 |
|  |  | 8579729 |
| **Pharmaceuticals — 0.3%** |  |  |
| Bristol-Myers Squibb Co., 4.90%, 2/22/27 | 2010000 | 2037065 |
| EMD Finance LLC, 4.375%, 10/15/30<sup>(1)</sup> | 1557000 | 1557417 |
|  |  | 3594482 |
| **Retail REITs — 0.1%** |  |  |
| Realty Income Corp., 3.95%, 2/1/29<sup>(2)</sup> | 1610000 | 1602478 |
| **Semiconductors and Semiconductor Equipment — 0.6%** |  |  |
| Broadcom, Inc., 4.80%, 4/15/28 | 3340000 | 3402104 |
| Intel Corp., 4.875%, 2/10/26 | 3510000 | 3517549 |
|  |  | 6919653 |
| **Software — 0.7%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 2253000 | 2305398 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Oracle Corp., 4.45%, 9/26/30 | $3311000 | $3310138 |
| Synopsys, Inc., 4.65%, 4/1/28 | 1675000 | 1694039 |
|  |  | 7309575 |
| **Specialized REITs — 0.2%** |  |  |
| EPR Properties, 4.50%, 6/1/27 | 2685000 | 2687723 |
| **Specialty Retail — 0.8%** |  |  |
| Home Depot, Inc., 5.15%, 6/25/26 | 6585000 | 6645097 |
| Lowe's Cos., Inc., 3.10%, 5/3/27 | 2145000 | 2114613 |
|  |  | 8759710 |
| **Technology Hardware, Storage and Peripherals — 0.4%** |  |  |
| Dell International LLC/EMC Corp., 4.15%, 2/15/29<sup>(2)</sup> | 2175000 | 2170279 |
| Western Digital Corp., 2.85%, 2/1/29 | 2054000 | 1933497 |
|  |  | 4103776 |
| **Trading Companies and Distributors — 0.1%** |  |  |
| Herc Holdings, Inc., 5.50%, 7/15/27<sup>(1)</sup> | 799000 | 797599 |
| **TOTAL CORPORATE BONDS**<br>(Cost $393,611,627) |  | **397817807** |
| **U.S. TREASURY SECURITIES — 23.4%** |  |  |
| U.S. Treasury Inflation-Indexed Notes, 2.125%, 4/15/29 | 2611050 | 2695775 |
| U.S. Treasury Notes, 0.75%, 4/30/26<sup>(3)</sup> | 15000000 | 14738107 |
| U.S. Treasury Notes, 4.625%, 9/15/26 | 23500000 | 23698464 |
| U.S. Treasury Notes, 0.875%, 9/30/26<sup>(3)</sup> | 1000000 | 972462 |
| U.S. Treasury Notes, 4.375%, 12/15/26 | 18000000 | 18143437 |
| U.S. Treasury Notes, 3.875%, 7/31/27 | 6300000 | 6326455 |
| U.S. Treasury Notes, 3.875%, 3/15/28 | 24000000 | 24154687 |
| U.S. Treasury Notes, 3.875%, 6/15/28 | 80000000 | 80534375 |
| U.S. Treasury Notes, 4.00%, 6/30/28<sup>(3)</sup> | 1000000 | 1009941 |
| U.S. Treasury Notes, 3.375%, 9/15/28 | 41000000 | 40722930 |
| U.S. Treasury Notes, 3.75%, 12/31/28 | 39000000 | 39131016 |
| U.S. Treasury Notes, 4.125%, 3/31/29 | 6000000 | 6092461 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $257,664,893) |  | **258220110** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 16.2%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 13.3%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A2, VRN, 1.48%, 10/25/48<sup>(1)</sup> | 718869 | 654334 |
| Arroyo Mortgage Trust, Series 2021-1R, Class A3, VRN, 1.64%, 10/25/48<sup>(1)</sup> | 569105 | 517564 |
| Bunker Hill Loan Depositary Trust, Series 2019-2, Class A2, SEQ, 3.08%, 7/25/49<sup>(1)</sup> | 255254 | 250313 |
| Chase Home Lending Mortgage Trust, Series 2024-10, Class A4, VRN, 6.00%, 10/25/55<sup>(1)</sup> | 2929187 | 2968815 |
| Chase Home Lending Mortgage Trust, Series 2024-3, Class A4, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 3215043 | 3257777 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 1926018 | 1928654 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 3214282 | 3231804 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 1265025 | 1268542 |
| Chase Home Lending Mortgage Trust, Series 2025-10, Class A4A, VRN, 5.50%, 7/25/56<sup>(1)</sup> | 4075000 | 4117653 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 5645258 | 5683991 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 522 | 524 |
| Citigroup Mortgage Loan Trust, Series 2025-3, Class A11, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 2659728 | 2676154 |
| Credit Suisse Mortgage Trust, Series 2020-AFC1, Class A3, VRN, 3.51%, 2/25/50<sup>(1)</sup> | 373158 | 357555 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, SEQ, VRN, 6.00%, 1/25/54<sup>(1)</sup> | 4345871 | 4400764 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A15, SEQ, VRN, 6.00%, 4/25/54<sup>(1)</sup> | 4432929 | 4475443 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ1, Class A15, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 5708175 | 5752037 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6, Class A4, VRN, 6.00%, 11/25/55<sup>(1)</sup> | 2960986 | 3005855 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 4142731 | 4164506 |
| JP Morgan Mortgage Trust, Series 2014-5, Class A1, VRN, 2.60%, 10/25/29<sup>(1)</sup> | 29738 | 29284 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| JP Morgan Mortgage Trust, Series 2019-5, Class A15, VRN, 4.00%, 11/25/49<sup>(1)</sup> | $227319 | $214907 |
| JP Morgan Mortgage Trust, Series 2020-5, Class A15, VRN, 3.00%, 12/25/50<sup>(1)</sup> | 2548057 | 2188222 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> | 3609996 | 3632320 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 3025433 | 3039101 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 2165795 | 2171665 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 4525581 | 4590469 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 1817869 | 1834261 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 2041447 | 2056538 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 2141553 | 2144832 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 2715463 | 2756124 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A1D, 5.50%, 11/25/55<sup>(1)</sup> | 2904609 | 2918600 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 4294545 | 4333843 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4A, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 4662914 | 4690446 |
| JP Morgan Mortgage Trust, Series 2025-NQM2, Class A2, 5.77%, 9/25/65<sup>(1)</sup> | 3854699 | 3886846 |
| MFA Trust, Series 2024-NQM1, Class A1, SEQ, 6.58%, 3/25/69<sup>(1)</sup> | 2063677 | 2094699 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A3, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 1866839 | 1890504 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 6493425 | 6539958 |
| PRKCM Trust, Series 2024-HOME1, Class A1, 6.43%, 5/25/59<sup>(1)</sup> | 1945872 | 1976985 |
| Provident Funding Mortgage Trust, Series 2025-1, Class A3, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 5135720 | 5166743 |
| Provident Funding Mortgage Trust, Series 2025-2, Class A4, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 3771172 | 3795281 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 4166108 | 4179804 |
| Radian Mortgage Capital Trust, Series 2025-J3, Class A15, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 4848042 | 4874269 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 1103754 | 1106658 |
| Rate Mortgage Trust, Series 2025-J1, Class A4, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 2215602 | 2250026 |
| Rate Mortgage Trust, Series 2025-J1, Class A5, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 1218581 | 1229400 |
| Rate Mortgage Trust, Series 2025-J2, Class A5, VRN, 5.50%, 7/25/55<sup>(1)</sup> | 5290634 | 5330898 |
| RCKT Mortgage Trust, Series 2024-CES8, Class A1A, 5.49%, 11/25/44<sup>(1)</sup> | 2087946 | 2106834 |
| Saluda Grade Alternative Mortgage Trust, Series 2024-CES1, Class A1, SEQ, VRN, 6.31%, 3/25/54<sup>(1)</sup> | 2642681 | 2672664 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 1205325 | 1207751 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 1726205 | 1734321 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 2419538 | 2431046 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 3369165 | 3394565 |
| Towd Point Mortgage Trust, Series 2024-1, Class A1, SEQ, VRN, 4.88%, 3/25/64<sup>(1)</sup> | 3627848 | 3688979 |
|  |  | 146871128 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 2.9%** |  |  |
| FHLMC, Series 2021-DNA7, Class M1, VRN, 5.21%, (30-day average SOFR plus 0.85%), 11/25/41<sup>(1)</sup> | 1319025 | 1318353 |
| FHLMC, Series 2022-DNA6, Class M1A, VRN, 6.51%, (30-day average SOFR plus 2.15%), 9/25/42<sup>(1)</sup> | 804694 | 809332 |
| FHLMC, Series 2023-HQA2, Class M1A, VRN, 6.36%, (30-day average SOFR plus 2.00%), 6/25/43<sup>(1)</sup> | 1474880 | 1481693 |
| FHLMC, Series K734, Class A2, SEQ, 3.21%, 2/25/26 | 7589917 | 7558137 |
| FHLMC, Series K736, Class A2, SEQ, 2.28%, 7/25/26 | 12653314 | 12491206 |
| FNMA, Series 2006-60, Class KF, VRN, 4.77%, (30-day average SOFR plus 0.41%), 7/25/36 | 208001 | 206505 |
| FNMA, Series 2009-33, Class FB, VRN, 5.29%, (30-day average SOFR plus 0.93%), 3/25/37 | 213105 | 214517 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 | 7499178 | 1307153 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 | 4387589 | 670128 |
| FNMA, Series 2022-R09, Class 2M1, VRN, 6.86%, (30-day average SOFR plus 2.50%), 9/25/42<sup>(1)</sup> | 932788 | 946112 |
| FNMA, Series 2023-R04, Class 1M1, VRN, 6.66%, (30-day average SOFR plus 2.30%), 5/25/43<sup>(1)</sup> | 1881740 | 1921410 |
| FNMA, Series 2024-R02, Class 1M1, VRN, 5.46%, (30-day average SOFR plus 1.10%), 2/25/44<sup>(1)</sup> | 1448051 | 1447657 |
| FNMA, Series 2024-R03, Class 2M1, VRN, 5.51%, (30-day average SOFR plus 1.15%), 3/25/44<sup>(1)</sup> | 1340688 | 1341496 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 | 2433579 | 339609 |
|  |  | 32053308 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $176,976,411) |  | **178924436** |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
|<br>**CONVERTIBLE PREFERRED SECURITIES — 6.2%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Banks — 5.7%** | | |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 3565000 | $3614172 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 2600000 | 2602268 |
| Banco Santander SA, 4.75% | 5000000 | 4918930 |
| Barclays PLC, 6.125% | 3005000 | 3008830 |
| Barclays PLC, 8.00% | 1645000 | 1743505 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 2058000 | 2027922 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 3488000 | 3731121 |
| Danske Bank AS, 4.375% | 5223000 | 5193572 |
| HSBC Holdings PLC, 6.00% | 3922000 | 3941971 |
| HSBC Holdings PLC, 6.875% | 688000 | 715850 |
| ING Groep NV, 5.75% | 4555000 | 4574154 |
| ING Groep NV, 7.50% | 3312000 | 3446060 |
| Lloyds Banking Group PLC, 6.75% | 1982000 | 2013920 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 3037000 | 3088140 |
| NatWest Group PLC, 6.00% | 5800000 | 5829307 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 3960000 | 3984988 |
| Skandinaviska Enskilda Banken AB, 6.875% | 2200000 | 2259584 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 815000 | 808417 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 3920000 | 4208488 |
| Svenska Handelsbanken AB, 4.375% | 1200000 | 1182251 |
|  |  | 62893450 |
| **Capital Markets — 0.5%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 5035000 | 5567169 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $67,358,084) |  | **68460619** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 5.4%** |  |  |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 6.42%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(4)(5)</sup> | $4370000 | 68828 |
| BX Trust, Class C, 3.86%, 12/9/41<sup>(1)</sup> | 5000000 | 4765373 |
| Extended Stay America Trust, Series 2021-ESH, Class A, VRN, 5.34%, (1-month SOFR plus 1.19%), 7/15/38<sup>(1)</sup> | 3094823 | 3097229 |
| FREMF Mortgage Trust, Series 2016-K54, Class B, VRN, 4.23%, 4/25/48<sup>(1)</sup> | 15773000 | 15691315 |
| FREMF Mortgage Trust, Series 2016-K55, Class B, VRN, 4.31%, 4/25/49<sup>(1)</sup> | 11009000 | 10956644 |
| FREMF Mortgage Trust, Series 2017-K69, Class B, VRN, 3.85%, 10/25/49<sup>(1)</sup> | 4920000 | 4837317 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-AON, Class A, SEQ, 4.13%, 7/5/31<sup>(1)</sup> | 3575000 | 3279029 |
| NCMF Trust, Series 2025-MFS, Class C, VRN, 6.24%, 6/10/33<sup>(1)</sup> | 4621000 | 4708364 |
| NXPT Commercial Mortgage Trust, Series 2024-STOR, Class D, VRN, 5.84%, 11/5/41<sup>(1)</sup> | 5000000 | 5036438 |
| One Market Plaza Trust, Series 2017-1MKT, Class B, 3.85%, 2/10/32<sup>(1)</sup> | 3533000 | 3407263 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 6.13%, 3/15/40<sup>(1)</sup> | 4000000 | 4010295 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $64,095,369) |  | **59858095** |
| **ASSET-BACKED SECURITIES — 5.3%** |  |  |
| Aligned Data Centers Issuer LLC, Series 2021-1A, Class B, 2.48%, 8/15/46<sup>(1)</sup> | 3545000 | 3456005 |
| BasePoint MCA Securitization II LLC, Series 2025-1A, Class A, SEQ, 5.93%, 8/15/31<sup>(1)</sup> | 5500000 | 5517204 |
| BRAVO Residential Funding Trust, Series 2024-CES1, Class A1A, 6.38%, 4/25/54<sup>(1)</sup> | 103695 | 105287 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> | 5062733 | 4946442 |
| Chesapeake Funding II LLC, Series 2024-1A, Class A1, SEQ, 5.52%, 5/15/36<sup>(1)</sup> | 2934212 | 2972099 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> | 4000000 | 3885191 |
| Goodgreen Trust, Series 2018-1A, Class A, VRN, 3.93%, 10/15/53<sup>(1)</sup> | 265517 | 245812 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> | 4047000 | 4072371 |
| MVW LLC, Series 2019-2A, Class B, 2.44%, 10/20/38<sup>(1)</sup> | 319311 | 316863 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 5000000 | 3395734 |
| NMEF Funding LLC, Series 2025-B, Class D, 5.47%, 1/18/33<sup>(1)</sup> | 3000000 | 3022379 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| RCKT Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 6.03%, 2/25/44<sup>(1)</sup> | $3048907 | $3082085 |
| RCKT Mortgage Trust, Series 2024-CES2, Class A1A, VRN, 6.14%, 4/25/44<sup>(1)</sup> | 1280827 | 1297274 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(1)</sup> | 1206448 | 1227100 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A1A, 6.15%, 6/25/44<sup>(1)</sup> | 1930682 | 1957943 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class A3, SEQ, 5.52%, 1/20/32<sup>(1)</sup> | 2675000 | 2749738 |
| Service Experts Issuer LLC, Series 2025-1A, Class A, SEQ, 5.38%, 1/20/37<sup>(1)</sup> | 3369223 | 3388280 |
| Sierra Timeshare Receivables Funding LLC, Series 2021-8, Class D, 3.17%, 11/20/37<sup>(1)</sup> | 195242 | 193920 |
| Towd Point Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 5.85%, 1/25/64<sup>(1)</sup> | 2471471 | 2490702 |
| Verdant Receivables LLC, Series 2024-1A, Class A2, SEQ, 5.68%, 12/12/31<sup>(1)</sup> | 3721075 | 3793772 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 3539352 | 3542968 |
| Westlake Automobile Receivables Trust, Series 2024-1A, Class A3, SEQ, 5.44%, 5/17/27<sup>(1)</sup> | 3285319 | 3290564 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $59,354,384) |  | **58949733** |
| **PREFERRED SECURITIES — 3.2%** |  |  |
| **Banks — 1.0%** |  |  |
| Bank of America Corp., 4.375% | 2375000 | 2338708 |
| Bank of America Corp., 6.25% | 2655000 | 2691311 |
| Citigroup, Inc., 3.875% | 3024000 | 2999406 |
| Citigroup, Inc., 6.25% | 2645000 | 2664885 |
| M&T Bank Corp., 5.125% | 128000 | 128189 |
|  |  | 10822499 |
| **Capital Markets — 0.9%** |  |  |
| Charles Schwab Corp., 4.00% | 3485000 | 3449648 |
| Goldman Sachs Group, Inc., 3.80% | 3320000 | 3284589 |
| Goldman Sachs Group, Inc., 7.38% | 3353000 | 3390275 |
|  |  | 10124512 |
| **Consumer Finance — 0.1%** |  |  |
| Ally Financial, Inc., 4.70% | 1875000 | 1731285 |
| **Multi-Utilities — 0.2%** |  |  |
| Sempra, 4.875% | 2489000 | 2491688 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| Energy Transfer LP, 6.50% | 3990000 | 4019167 |
| **Trading Companies and Distributors — 0.6%** |  |  |
| Air Lease Corp., 4.65% | 2800000 | 2767721 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 3886000 | 3869443 |
|  |  | 6637164 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $35,573,769) |  | **35826315** |
| **COLLATERALIZED LOAN OBLIGATIONS — 2.0%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.61%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | $1235801 | 1236437 |
| AREII CLO Ltd., Series 2019-52A, Class CRR, VRN, 5.88%, (3-month SOFR plus 1.55%), 4/22/31<sup>(1)</sup> | 2400000 | 2402242 |
| BlackRock Rainier CLO VI Ltd., Series 2021-6A, Class A1R, VRN, 5.88%, (3-month SOFR plus 1.55%), 4/20/37<sup>(1)</sup> | 3000000 | 3005865 |
| Madison Park Funding XXII Ltd., Series 2016-22A, Class CR2, VRN, 6.27%, (3-month SOFR plus 1.95%), 1/15/38<sup>(1)</sup> | 6250000 | 6276136 |
| Magnetite XLI Ltd., Series 2024-41A, Class C, VRN, 6.10%, (3-month SOFR plus 1.78%), 1/25/38<sup>(1)</sup> | 1400000 | 1403254 |
| Palmer Square CLO Ltd., Series 2024-4A, Class A2, VRN, 5.82%, (3-month SOFR plus 1.50%), 1/15/38<sup>(1)</sup> | 1825000 | 1830209 |
| Sixth Street CLO VIII Ltd., Series 2017-8A, Class BR2, VRN, 6.13%, (3-month SOFR plus 1.80%), 10/20/34<sup>(1)</sup> | 5700000 | 5713695 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $21,792,061) |  | **21867838** |
| **BANK LOAN OBLIGATIONS**<sup>(6)</sup> **— 0.1%** |  |  |
| **Aerospace and Defense — 0.1%** |  |  |
| TransDigm, Inc., 2025 Term Loan K, 6.25%, (3-month SOFR plus 2.25%), 3/22/30<br>(Cost $993,233) | 992463 | **992606** |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
|<br>**SHORT-TERM INVESTMENTS — 4.7%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Money Market Funds — 3.5%** | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 38658571 | $38658571 |
| **Treasury Bills**<sup>(7)</sup> **— 1.2%** |  |  |
| U.S. Treasury Bills, 3.86%, 8/6/26 | $13300000 | 12895395 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $51,536,129) |  | **51553966** |
| **TOTAL INVESTMENT SECURITIES — 102.5%**<br>(Cost $1,128,955,960) |  | **1132471525** |
| **OTHER ASSETS AND LIABILITIES — (2.5)%** |  | **(27526920)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1104944605** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 5-Year Notes | 118 | December 2025 | $12885047 | $(2152) |
| U.S. Treasury 10-Year Notes | 249 | December 2025 | 28012500 | 60530 |
| U.S. Treasury 10-Year Ultra Notes | 36 | December 2025 | 4142812 | (9633) |
|  |  |  | $45040359 | $48745 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type** | **Fixed Rate**<br>**Received**<br>**(Paid)**<br>**Quarterly** | **Termination**<br>**Date** | **Notional**<br>**Amount** | **Premiums**<br>**Paid**<br>**(Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 44 | Buy | (5.00)% | 6/20/30 | $16200000 | $(1115502) | $(198642) | $(1314144) |

---

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CDX | – | Credit Derivatives Indexes |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| IO | – | Interest Only |
| SEQ | – | Sequential Payer |
| SOFR | – | Secured Overnight Financing Rate |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $439,853,439, which represented 39.8% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $1,831,789.

(4)Security is in default.

(5)Non-income producing.

(6)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(7)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

------

Schedule of Investments - Short Duration Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $397817807 |  |
| U.S. Treasury Securities |  | 258220110 |  |
| Collateralized Mortgage Obligations |  | 178924436 |  |
| Convertible Preferred Securities |  | 68460619 |  |
| Commercial Mortgage-Backed Securities |  | 59858095 |  |
| Asset-Backed Securities |  | 58949733 |  |
| Preferred Securities |  | 35826315 |  |
| Collateralized Loan Obligations |  | 21867838 |  |
| Bank Loan Obligations |  | 992606 |  |
| Short-Term Investments | $38658571 | 12895395 |  |
|  | $38658571 | $1093812954 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $60530 |  |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $11785 |  |  |
| Swap Agreements |  | $1314144 |  |
|  | $11785 | $1314144 |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Interest Rate** | **Total** |
| **Liability Derivatives:** | | | |
| &nbsp;&nbsp;Payable for variation margin on futures contracts\* |  | $6033 | $6033 |
| &nbsp;&nbsp;Payable for variation margin on swap agreements\* | $2845 |  | 2845 |
|  |  |  | $8878 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Interest Rate** | **Total** |
| **Net realized gain (loss) on:** | | | |
| &nbsp;&nbsp;Futures contract transactions |  | $582985 | $582985 |
| &nbsp;&nbsp;Swap agreement transactions | $(71648) |  | (71648) |
|  |  |  | $511337 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |
| &nbsp;&nbsp;Futures contracts |  | $(253174) | $(253174) |
| &nbsp;&nbsp;Swap agreements | $(198642) |  | (198642) |
|  |  |  | $(451816) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

**SEPTEMBER 30, 2025 (UNAUDITED)** 

---

| | | |
|:---|:---|:---|
|<br>**U.S. TREASURY SECURITIES — 81.2%** | **Principal** <br>**Amount/Shares**<br> | **Value** |
| U.S. Treasury Inflation-Indexed Bonds, 2.375%, 1/15/27 | $6407640 | $6523164 |
| U.S. Treasury Inflation-Indexed Bonds, 3.625%, 4/15/28 | 30279523 | 32223814 |
| U.S. Treasury Inflation-Indexed Bonds, 2.50%, 1/15/29 | 30093000 | 31453749 |
| U.S. Treasury Inflation-Indexed Bonds, 3.875%, 4/15/29 | 21615990 | 23640169 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 10/15/26<sup>(1)</sup> | 70459716 | 70076855 |
| U.S. Treasury Inflation-Indexed Notes, 0.375%, 1/15/27 | 64326535 | 63839847 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 4/15/27 | 229516490 | 226385931 |
| U.S. Treasury Inflation-Indexed Notes, 0.375%, 7/15/27 | 33939934 | 33715856 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 10/15/27 | 31407552 | 31917681 |
| U.S. Treasury Inflation-Indexed Notes, 0.50%, 1/15/28 | 37325310 | 36900184 |
| U.S. Treasury Inflation-Indexed Notes, 1.25%, 4/15/28 | 100108079 | 100509850 |
| U.S. Treasury Inflation-Indexed Notes, 0.75%, 7/15/28 | 55982760 | 55735396 |
| U.S. Treasury Inflation-Indexed Notes, 2.375%, 10/15/28 | 49359960 | 51423736 |
| U.S. Treasury Inflation-Indexed Notes, 0.875%, 1/15/29 | 31984750 | 31748990 |
| U.S. Treasury Inflation-Indexed Notes, 2.125%, 4/15/29 | 120682731 | 124598711 |
| U.S. Treasury Inflation-Indexed Notes, 0.25%, 7/15/29 | 106843032 | 103677783 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 10/15/29 | 32391438 | 33041805 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/30 | 8161465 | 7794364 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 4/15/30 | 42622440 | 43289387 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/30 | 75120008 | 71446172 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/31 | 26938679 | 25165574 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $1,193,105,417) |  | **1205109018** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.3%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 3.3%** |  |  |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A, SEQ, VRN, 6.00%, 2/25/55<sup>(2)</sup> | 1668002 | 1688043 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(2)</sup> | 5337713 | 5373954 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(2)</sup> | 2806559 | 2829064 |
| JP Morgan Mortgage Trust, Series 2006-A4, Class 3A1, VRN, 4.53%, 6/25/36 | 127829 | 84225 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(2)</sup> | 4834532 | 4864428 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(2)</sup> | 3337639 | 3376916 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(2)</sup> | 3907131 | 3924781 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(2)</sup> | 2795565 | 2803142 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(2)</sup> | 5815854 | 5899241 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(2)</sup> | 2334715 | 2355767 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(2)</sup> | 2789555 | 2810175 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(2)</sup> | 1805233 | 1816172 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(2)</sup> | 2859678 | 2864058 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 1477332 | 1481220 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 1558103 | 1561240 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 2245742 | 2256301 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 3230416 | 3245782 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $48,889,614) |  | **49234509** |
| **EXCHANGE-TRADED FUNDS — 3.1%** |  |  |
| iShares 0-5 Year High Yield Corporate Bond ETF | 535600 | 23191480 |
| SPDR Bloomberg Short Term High Yield Bond ETF | 905800 | 23188480 |
| **TOTAL EXCHANGE-TRADED FUNDS**<br>(Cost $46,033,412) |  | **46379960** |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | |
|:---|:---|:---|
|<br>**U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 3.1%** | **Principal** <br>**Amount/Shares**<br> | **Value** |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 3.1%** | | |
| GNMA, 5.50%, TBA<br>(Cost $45,775,754) | $45277000 | $**45621039** |
| **CORPORATE BONDS — 2.9%** |  |  |
| **Aerospace and Defense — 0.3%** |  |  |
| Boeing Co., 2.20%, 2/4/26 | 1850000 | 1836222 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(2)</sup> | 2457000 | 2506899 |
|  |  | 4343121 |
| **Banks — 0.6%** |  |  |
| JPMorgan Chase & Co., VRN, 4.51%, 10/22/28 | 1752000 | 1767450 |
| JPMorgan Chase & Co., VRN, 5.00%, 7/22/30 | 4390000 | 4504131 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 3010000 | 3067740 |
|  |  | 9339321 |
| **Capital Markets — 0.4%** |  |  |
| Morgan Stanley, VRN, 4.99%, 4/12/29 | 1974000 | 2013666 |
| State Street Corp., VRN, 3.03%, 11/1/34 | 4155000 | 3901940 |
|  |  | 5915606 |
| **Electric Utilities — 0.0%** |  |  |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 642000 | 640404 |
| **Insurance — 1.0%** |  |  |
| Athene Global Funding, 4.86%, 8/27/26<sup>(2)</sup> | 4340000 | 4369423 |
| Athene Global Funding, 5.35%, 7/9/27<sup>(2)</sup> | 3297000 | 3359814 |
| GA Global Funding Trust, 2.25%, 1/6/27<sup>(2)</sup> | 2800000 | 2731945 |
| GA Global Funding Trust, 4.40%, 9/23/27<sup>(2)</sup> | 4540000 | 4551054 |
|  |  | 15012236 |
| **Media — 0.3%** |  |  |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(2)</sup> | 3825000 | 3775949 |
| **Oil, Gas and Consumable Fuels — 0.3%** |  |  |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 1583000 | 1577378 |
| Petroleos Mexicanos, 6.84%, 1/23/30 | 452000 | 460040 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 1665000 | 1613776 |
|  |  | 3651194 |
| **TOTAL CORPORATE BONDS**<br>(Cost $41,865,900) |  | **42677831** |
| **CONVERTIBLE PREFERRED SECURITIES — 2.1%** |  |  |
| **Banks — 1.7%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 2600000 | 2602268 |
| Barclays PLC, 6.125% | 2853000 | 2856636 |
| Barclays PLC, 8.00% | 1722000 | 1825116 |
| BNP Paribas SA, 8.50%<sup>(2)</sup> | 1000000 | 1069702 |
| HSBC Holdings PLC, 6.00% | 3138000 | 3153979 |
| HSBC Holdings PLC, 6.875% | 717000 | 746024 |
| Lloyds Banking Group PLC, 6.75% | 2268000 | 2304526 |
| Macquarie Bank Ltd., 6.125%<sup>(2)</sup> | 1423000 | 1446962 |
| NatWest Group PLC, 6.00% | 1800000 | 1809095 |
| Nordea Bank Abp, 6.625%<sup>(2)</sup> | 4480000 | 4508269 |
| Societe Generale SA, 4.75%<sup>(2)</sup> | 765000 | 758821 |
| Societe Generale SA, 9.375%<sup>(2)</sup> | 725000 | 778356 |
| Svenska Handelsbanken AB, 4.375% | 1200000 | 1182251 |
|  |  | 25042005 |
| **Capital Markets — 0.4%** |  |  |
| Deutsche Bank AG, 6.00% | 2600000 | 2606531 |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal** <br>**Amount/Shares** | **Value** |
| UBS Group AG, 9.25%<sup>(2)</sup> |  | 2835000 | $3134642 |
|  |  |  | 5741173 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $30,495,957) |  |  | **30783178** |
| **ASSET-BACKED SECURITIES — 2.0%** |  |  |  |
| CARS-DB5 LP, Series 2021-1A, Class A3, SEQ, 1.92%, 8/15/51<sup>(2)</sup> |  | $3896510 | 3776063 |
| Cologix Data Centers U.S. Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.30%, 12/26/51<sup>(2)</sup> |  | 7825000 | 7640662 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(2)</sup> |  | 7000000 | 4754027 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class A3, SEQ, 5.52%, 1/20/32<sup>(2)</sup> |  | 3650000 | 3751979 |
| Tesla Auto Lease Trust, Series 2024-A, Class A3, SEQ, 5.30%, 6/21/27<sup>(2)</sup> |  | 2903030 | 2912181 |
| Towd Point Mortgage Trust, Series 2024-CES3, Class A1, VRN, 6.29%, 5/25/64<sup>(2)</sup> |  | 2037967 | 2065260 |
| Verdant Receivables LLC, Series 2024-1A, Class A2, SEQ, 5.68%, 12/12/31<sup>(2)</sup> |  | 5102092 | 5201770 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $31,220,270) |  |  | **30101942** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 1.7%** |  |  |  |
| **United Kingdom — 1.7%** |  |  |  |
| U.K. Gilts, 4.375%, 3/7/30 | GBP | 3000000 | 4073996 |
| U.K. Inflation-Linked Gilts, 0.125%, 3/22/26 | GBP | 15729400 | 20915205 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $25,223,139) |  |  | **24989201** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 1.4%** |  |  |  |
| Bank5, Series 2024-5YR7, Class A3, SEQ, 5.77%, 6/15/57 |  | $6467000 | 6753898 |
| Bank5 Trust, Series 2024-5YR6, Class A3, SEQ, 6.23%, 5/15/57 |  | 3477000 | 3674654 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class A3, SEQ, 6.01%, 7/15/57 |  | 1700000 | 1789818 |
| Benchmark Mortgage Trust, Series 2024-V8, Class A3, SEQ, VRN, 6.19%, 7/15/57 |  | 6045000 | 6390481 |
| JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-AON, Class A, SEQ, 4.13%, 7/5/31<sup>(2)</sup> |  | 3358000 | 3079995 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $21,436,687) |  |  | **21688846** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.3%** |  |  |  |
| Palmer Square CLO Ltd., Series 2024-4A, Class A2, VRN, 5.82%, (3-month SOFR plus 1.50%), 1/15/38<sup>(2)</sup> |  | 2350000 | 2356708 |
| THL Credit Wind River CLO Ltd., Series 2019-3A, Class CR2, VRN, 6.32%, (3-month SOFR plus 2.00%), 4/15/31<sup>(2)</sup> |  | 2250000 | 2255471 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $4,600,000) |  |  | **4612179** |
| **PREFERRED SECURITIES — 0.3%** |  |  |  |
| **Banks — 0.3%** |  |  |  |
| Citigroup, Inc., 4.00%<br>(Cost $4,206,668) |  | 4256000 | **4244625** |
| **BANK LOAN OBLIGATIONS**<sup>(3)</sup> **— 0.1%** |  |  |  |
| **Aerospace and Defense — 0.1%** |  |  |  |
| TransDigm, Inc., 2025 Term Loan K, 6.25%, (3-month SOFR plus 2.25%), 3/22/30<br>(Cost $1,168,653) |  | $1163166 | **1163334** |
| **SHORT-TERM INVESTMENTS — 1.3%** |  |  |  |
| **Commercial Paper**<sup>(4)</sup> **— 1.3%** |  |  |  |
| HQLA Funding LLC, Series CHAM, 4.22%, 10/1/25 (LOC: Credit Agricole Corporate and Investment Bank)<sup>(2)</sup><br>(Cost $19,800,000) |  | 19800000 | **19797711** |
| **TOTAL INVESTMENT SECURITIES — 102.8%**<br>(Cost $1,513,821,471) |  |  | **1526403373** |
| **OTHER ASSETS AND LIABILITIES — (2.8)%** |  |  | **(41778929)** |
| **TOTAL NET ASSETS — 100.0%** |  |  | $**1484624444** |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | | |
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement Date** | **Unrealized Appreciation <br>(Depreciation)** |
| USD | 25162818 | GBP | 18568823 | Morgan Stanley & Co. LLC | 12/17/25 | $187090 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 5-Year Notes | 479 | December 2025 | $52304555 | $(4676) |
| U.S. Treasury 10-Year Notes | 1 | December 2025 | 112500 | (1064) |
|  |  |  | $52417055 | $(5740) |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration <br>Date** | **Notional <br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 2-Year Notes | 150 | December 2025 | $31259766 | $98145 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** | **CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS** |
| **Floating<br>Rate Index** | **Pay/Receive**<br>**Floating Rate** <br>**Index at**<br>**Termination** | **Fixed<br>Rate** | **Termination**<br>**Date** | **Notional**<br>**Amount** | **Premiums<br>Paid<br>(Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Value** |
| CPURNSA | Receive | 2.42% | 2/2/28 | $85000000 | $476 | $2017240 | $2017716 |
| CPURNSA | Receive | 2.64% | 8/2/28 | $78000000 | 642 | 683224 | 683866 |
| CPURNSA | Receive | 2.39% | 8/2/29 | $11300000 | 437 | 144299 | 144736 |
| CPURNSA | Receive | 2.52% | 11/4/29 | $17500000 | 495 | 154605 | 155100 |
| CPURNSA | Receive | 2.52% | 11/4/29 | $17500000 | 496 | 154604 | 155100 |
| CPURNSA | Receive | 2.46% | 12/10/29 | $7000000 | 455 | 79484 | 79939 |
| CPURNSA | Receive | 2.44% | 12/11/29 | $10000000 | 470 | 123301 | 123771 |
| CPURNSA | Receive | 2.56% | 2/4/30 | $5300000 | 462 | 30886 | 31348 |
| CPURNSA | Receive | 2.61% | 4/7/30 | $12000000 | 518 | 2835 | 3353 |
| CPURNSA | Receive | 2.43% | 4/8/30 | $12000000 | 518 | 102692 | 103210 |
| CPURNSA | Receive | 2.66% | 8/4/30 | $30500000 | 665 | 13564 | 14229 |
|  |  |  |  |  | $5634 | $3506734 | $3512368 |

---

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CPURNSA | – | U.S. Consumer Price Index Urban Consumers Not Seasonally Adjusted Index |
| GBP | – | British Pound |
| GNMA | – | Government National Mortgage Association |
| LOC | – | Letter of Credit |
| SEQ | – | Sequential Payer |
| SOFR | – | Secured Overnight Financing Rate |
| TBA | – | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| USD | – | United States Dollar |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments, forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $8,595,733.

(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $139,733,947, which represented 9.4% of total net assets.

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

(3)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

(4)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| U.S. Treasury Securities |  | $1205109018 |  |
| Collateralized Mortgage Obligations |  | 49234509 |  |
| Exchange-Traded Funds | $46379960 |  |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 45621039 |  |
| Corporate Bonds |  | 42677831 |  |
| Convertible Preferred Securities |  | 30783178 |  |
| Asset-Backed Securities |  | 30101942 |  |
| Sovereign Governments and Agencies |  | 24989201 |  |
| Commercial Mortgage-Backed Securities |  | 21688846 |  |
| Collateralized Loan Obligations |  | 4612179 |  |
| Preferred Securities |  | 4244625 |  |
| Bank Loan Obligations |  | 1163334 |  |
| Short-Term Investments |  | 19797711 |  |
|  | $46379960 | $1480023413 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $98145 |  |  |
| Swap Agreements |  | $3512368 |  |
| Forward Foreign Currency Exchange Contracts |  | 187090 |  |
|  | $98145 | $3699458 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $5740 |  |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Foreign Currency** | **Interest Rate** | **Other Contracts** | **Total** |
| **Asset Derivatives:** | | | | |
| &nbsp;&nbsp;Receivable for variation margin on futures contracts\* |  | $2287 |  | $2287 |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts | $187090 |  |  | 187090 |
|  |  |  |  | $189377 |
| **Liability Derivatives:** |  |  |  |  |
| &nbsp;&nbsp;Payable for variation margin on swap agreements\* |  |  | $25625 | $25625 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Foreign Currency** | **Interest Rate** | **Other Contracts** | **Total** |
| **Net realized gain (loss) on:** | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions | $13462 |  |  | $13462 |
| &nbsp;&nbsp;Futures contract transactions |  | $1544594 |  | 1544594 |
| &nbsp;&nbsp;Swap agreement transactions |  |  | $5158068 | 5158068 |
|  |  |  |  | $6716124 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts | $187090 |  |  | $187090 |
| &nbsp;&nbsp;Futures contracts |  | $(430742) |  | (430742) |
| &nbsp;&nbsp;Swap agreements |  |  | $(5698572) | (5698572) |
|  |  |  |  | $(5942224) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Short Duration Strategic Income Fund

**SEPTEMBER 30, 2025 (UNAUDITED)** 

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 44.0%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Aerospace and Defense — 1.4%** | | |
| Boeing Co., 6.30%, 5/1/29 | $4944000 | $5248213 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 2285000 | 2284043 |
| TransDigm, Inc., 4.625%, 1/15/29 | 1545000 | 1515387 |
| TransDigm, Inc., 4.875%, 5/1/29 | 1545000 | 1523506 |
|  |  | 10571149 |
| **Air Freight and Logistics — 0.4%** |  |  |
| GXO Logistics, Inc., 1.65%, 7/15/26 | 3000000 | 2937997 |
| **Automobiles — 1.6%** |  |  |
| Ford Motor Credit Co. LLC, 5.125%, 11/5/26 | 3025000 | 3035939 |
| Ford Motor Credit Co. LLC, 5.80%, 3/5/27 | 1530000 | 1545937 |
| General Motors Financial Co., Inc., 5.40%, 4/6/26 | 2650000 | 2665043 |
| Nissan Motor Acceptance Co. LLC, 6.95%, 9/15/26<sup>(1)</sup> | 3650000 | 3700014 |
| Volkswagen Group of America Finance LLC, 4.90%, 8/14/26<sup>(1)</sup> | 1150000 | 1155649 |
|  |  | 12102582 |
| **Banks — 8.5%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 3000000 | 2713632 |
| Banco Santander SA, VRN, 6.53%, 11/7/27 | 2400000 | 2459151 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 2814000 | 2993713 |
| Bank of Nova Scotia, VRN, 8.625%, 10/27/82 | 1671000 | 1778140 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 880000 | 945770 |
| Banque Federative du Credit Mutuel SA, 4.59%, 10/16/28<sup>(1)</sup> | 2081000 | 2100740 |
| Canadian Imperial Bank of Commerce, VRN, 7.00%, 10/28/85 | 557000 | 572693 |
| Citibank NA, 4.58%, 5/29/27 | 2165000 | 2185202 |
| Citigroup, Inc., VRN, 4.64%, 5/7/28 | 1890000 | 1903373 |
| Comerica, Inc., VRN, 5.98%, 1/30/30 | 1600000 | 1665360 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 3305000 | 3300452 |
| Freedom Mortgage Corp., 12.00%, 10/1/28<sup>(1)</sup> | 785000 | 832100 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 346000 | 364316 |
| Goldman Sachs Bank USA, VRN, 5.41%, 5/21/27 | 1380000 | 1390836 |
| HSBC Holdings PLC, VRN, 7.39%, 11/3/28 | 1925000 | 2044689 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 4187000 | 3960444 |
| JPMorgan Chase & Co., VRN, 4.51%, 10/22/28 | 544000 | 548797 |
| KBC Group NV, VRN, 4.45%, 9/23/31<sup>(1)</sup> | 2528000 | 2515579 |
| Morgan Stanley Bank NA, VRN, 5.02%, 1/12/29 | 4040000 | 4113267 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 485000 | 492478 |
| National Bank of Canada, VRN, 5.60%, 7/2/27 | 1580000 | 1595920 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 2310000 | 2113706 |
| PNC Financial Services Group, Inc., VRN, 5.10%, 7/23/27 | 3080000 | 3101038 |
| Royal Bank of Canada, VRN, 4.97%, 1/24/29 | 2110000 | 2146611 |
| Royal Bank of Canada, VRN, 4.50%, 8/6/29 | 2011000 | 2027118 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 3620000 | 3831049 |
| Truist Bank, VRN, 4.67%, 5/20/27 | 1470000 | 1473406 |
| Truist Bank, VRN, 4.63%, 9/17/29 | 980000 | 987996 |
| UniCredit SpA, VRN, 5.86%, 6/19/32<sup>(1)</sup> | 1458000 | 1481077 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 635000 | 632373 |
| Wells Fargo & Co., VRN, 4.90%, 1/24/28 | 1520000 | 1534162 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 1465000 | 1493103 |
| Zions Bancorp NA, VRN, 4.70%, 8/18/28 | 3801000 | 3813754 |
|  |  | 65112045 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Building Products — 0.6%** | | |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | $2020000 | $1901370 |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 2660000 | 2639313 |
|  |  | 4540683 |
| **Capital Markets — 4.8%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 1635000 | 1658267 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 880000 | 905704 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 1920000 | 1902937 |
| Blue Owl Capital Corp., 5.95%, 3/15/29 | 515000 | 525116 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 3130000 | 3363095 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(1)</sup> | 2228000 | 2257114 |
| Carlyle Secured Lending, Inc., 5.75%, 2/15/31<sup>(2)</sup> | 1425000 | 1417661 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 1000000 | 1014934 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 1475000 | 1401114 |
| Deutsche Bank AG, VRN, 4.875%, 12/1/32 | 3878000 | 3876470 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 4/25/30 | 1540000 | 1611563 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 1309000 | 1384305 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 1225000 | 1231690 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 1965000 | 1983268 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 410000 | 407970 |
| Morgan Stanley, VRN, 4.99%, 4/12/29 | 968000 | 987451 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 1435000 | 1427965 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 3892000 | 3817120 |
| State Street Corp., VRN, 3.03%, 11/1/34 | 2480000 | 2328956 |
| UBS Group AG, VRN, 6.33%, 12/22/27<sup>(1)</sup> | 3125000 | 3203789 |
|  |  | 36706489 |
| **Chemicals — 0.2%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/10/28<sup>(1)</sup> | 1472000 | 636640 |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> | 631000 | 238272 |
| Celanese U.S. Holdings LLC, 6.67%, 7/15/27 | 602000 | 617944 |
|  |  | 1492856 |
| **Commercial Services and Supplies — 0.3%** |  |  |
| Deluxe Corp., 8.125%, 9/15/29<sup>(1)</sup> | 1834000 | 1917385 |
| **Construction and Engineering — 0.4%** |  |  |
| Mexico City Airport Trust, 3.875%, 4/30/28<sup>(1)</sup> | 2802000 | 2741575 |
| **Consumer Finance — 1.0%** |  |  |
| American Express Co., VRN, 4.35%, 7/20/29 | 1880000 | 1891377 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)</sup> | 791000 | 766858 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 555000 | 562462 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 763000 | 765159 |
| Stellantis Financial Services U.S. Corp., 4.95%, 9/15/28<sup>(1)</sup> | 3360000 | 3359671 |
|  |  | 7345527 |
| **Consumer Staples Distribution & Retail — 0.5%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.625%, 1/15/27<sup>(1)</sup> | 3745000 | 3726746 |
| **Diversified REITs — 2.1%** |  |  |
| Brandywine Operating Partnership LP, 6.125%, 1/15/31<sup>(2)</sup> | 2285000 | 2282715 |
| COPT Defense Properties LP, 4.50%, 10/15/30<sup>(2)</sup> | 1250000 | 1242363 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 2705000 | 2655072 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 455000 | 420231 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(1)</sup> | 1353000 | 1438681 |
| Piedmont Operating Partnership LP, 9.25%, 7/20/28 | 1123000 | 1247283 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 240000 | 254056 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 3566000 | 3498543 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Vornado Realty LP, 2.15%, 6/1/26 | $3260000 | $3200920 |
|  |  | 16239864 |
| **Diversified Telecommunication Services — 0.9%** |  |  |
| AT&T, Inc., 7.30%, 8/15/26 | 1725000 | 1759671 |
| Frontier Communications Holdings LLC, 8.625%, 3/15/31<sup>(1)</sup> | 3439000 | 3628458 |
| Sprint Capital Corp., 6.875%, 11/15/28 | 1440000 | 1549215 |
|  |  | 6937344 |
| **Electric Utilities — 2.1%** |  |  |
| Alliant Energy Corp., VRN, 5.75%, 4/1/56 | 501000 | 502135 |
| American Electric Power Co., Inc., VRN, 5.80%, 3/15/56 | 562000 | 561436 |
| American Electric Power Co., Inc., VRN, 6.05%, 3/15/56 | 563000 | 565199 |
| Black Hills Corp., 4.55%, 1/31/31<sup>(2)</sup> | 2893000 | 2894735 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 1594000 | 1604257 |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56<sup>(2)</sup> | 1900000 | 1893400 |
| Evergy Kansas Central, Inc., 4.70%, 3/13/28 | 771000 | 780881 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 743000 | 749923 |
| Jersey Central Power & Light Co., 4.15%, 1/15/29<sup>(1)</sup> | 1902000 | 1900376 |
| Pinnacle West Capital Corp., 5.15%, 5/15/30 | 1325000 | 1363303 |
| Southern Co., Series B, VRN, 4.00%, 1/15/51 | 3485000 | 3476336 |
|  |  | 16291981 |
| **Electrical Equipment — 0.3%** |  |  |
| Regal Rexnord Corp., 6.05%, 2/15/26 | 2520000 | 2532538 |
| **Energy Equipment and Services — 0.2%** |  |  |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(1)</sup> | 1780000 | 1818583 |
| **Entertainment — 0.3%** |  |  |
| Warnermedia Holdings, Inc., 3.76%, 3/15/27 | 2114000 | 2064955 |
| **Financial Services — 2.3%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 2730000 | 2792839 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> | 1955000 | 2000257 |
| Corebridge Global Funding, 4.45%, 10/2/30<sup>(1)(2)</sup> | 2505000 | 2503889 |
| Essent Group Ltd., 6.25%, 7/1/29 | 2010000 | 2106804 |
| Nationwide Building Society, 4.35%, 9/30/30<sup>(1)</sup> | 2280000 | 2272449 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 2887000 | 2852396 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 1600000 | 1655664 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> | 755000 | 775426 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 635000 | 656186 |
|  |  | 17615910 |
| **Gas Utilities — 0.2%** |  |  |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 258000 | 274833 |
| Snam SpA, 5.00%, 5/28/30<sup>(1)</sup> | 940000 | 953832 |
|  |  | 1228665 |
| **Ground Transportation — 0.3%** |  |  |
| Ashtead Capital, Inc., 4.375%, 8/15/27<sup>(1)</sup> | 2200000 | 2200702 |
| **Health Care Equipment and Supplies — 0.3%** |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1888000 | 1938324 |
| **Health Care Providers and Services — 1.0%** |  |  |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(1)</sup> | 2250000 | 2245784 |
| IQVIA, Inc., 5.70%, 5/15/28 | 1425000 | 1472559 |
| Tenet Healthcare Corp., 6.25%, 2/1/27 | 2190000 | 2191116 |
| Universal Health Services, Inc., 1.65%, 9/1/26 | 2163000 | 2112539 |
|  |  | 8021998 |
| **Hotel & Resort REITs — 0.3%** |  |  |
| Service Properties Trust, 0.00%, 9/30/28<sup>(1)(3)</sup> | 2827000 | 2494615 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Hotels, Restaurants and Leisure — 0.4%** | | |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)(2)</sup> | $568000 | $568000 |
| Hyatt Hotels Corp., 5.05%, 3/30/28 | 2500000 | 2541292 |
|  |  | 3109292 |
| **Household Durables — 0.3%** |  |  |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(1)</sup> | 946000 | 960006 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 1475000 | 1415416 |
|  |  | 2375422 |
| **Independent Power and Renewable Electricity Producers — 0.1%** |  |  |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(1)</sup> | 1062000 | 1081617 |
| **Insurance — 2.0%** |  |  |
| Aspen Insurance Holdings Ltd., 5.75%, 7/1/30 | 2085000 | 2184090 |
| Athene Global Funding, 5.35%, 7/9/27<sup>(1)</sup> | 437000 | 445326 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 2410000 | 2514062 |
| Fortitude Global Funding, 4.625%, 10/6/28<sup>(1)(2)</sup> | 1268000 | 1269481 |
| GA Global Funding Trust, 2.25%, 1/6/27<sup>(1)</sup> | 2650000 | 2585590 |
| GA Global Funding Trust, 4.40%, 9/23/27<sup>(1)</sup> | 1590000 | 1593871 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 2000000 | 1970974 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 2795000 | 2745816 |
|  |  | 15309210 |
| **IT Services — 0.3%** |  |  |
| Kyndryl Holdings, Inc., 2.70%, 10/15/28 | 2485000 | 2369107 |
| **Leisure Products — 0.3%** |  |  |
| Mattel, Inc., 5.875%, 12/15/27<sup>(1)</sup> | 2270000 | 2275257 |
| **Life Sciences Tools and Services — 0.6%** |  |  |
| Illumina, Inc., 5.80%, 12/12/25 | 3590000 | 3594979 |
| Illumina, Inc., 4.65%, 9/9/26 | 1291000 | 1297356 |
|  |  | 4892335 |
| **Media — 2.1%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 2060000 | 2047804 |
| Lamar Media Corp., 3.75%, 2/15/28 | 1935000 | 1882930 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 3860000 | 3770727 |
| Paramount Global, 2.90%, 1/15/27 | 3113000 | 3050216 |
| Paramount Global, 4.95%, 1/15/31 | 1876000 | 1855025 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 1185000 | 1146013 |
| TEGNA, Inc., 4.625%, 3/15/28 | 1975000 | 1944192 |
|  |  | 15696907 |
| **Metals and Mining — 0.2%** |  |  |
| CSN Inova Ventures, 6.75%, 1/28/28<sup>(1)</sup> | 1541000 | 1498064 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.3%** |  |  |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 2287000 | 2399440 |
| **Multi-Utilities — 0.8%** |  |  |
| CenterPoint Energy, Inc., VRN, 5.95%, (5-year H15T5Y plus 2.22%), 4/1/56<sup>(2)</sup> | 1900000 | 1904750 |
| Dominion Energy, Inc., VRN, 6.00%, 2/15/56 | 1900000 | 1915694 |
| Sempra, VRN, 4.125%, 4/1/52 | 2657000 | 2591831 |
|  |  | 6412275 |
| **Oil, Gas and Consumable Fuels — 2.4%** |  |  |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 1350000 | 1400898 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 3720000 | 3736915 |
| Energy Transfer LP, 5.625%, 5/1/27<sup>(1)</sup> | 1550000 | 1550709 |
| Expand Energy Corp., 6.75%, 4/15/29<sup>(1)</sup> | 285000 | 287999 |
| Petroleos Mexicanos, 5.35%, 2/12/28 | 945000 | 941644 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Petroleos Mexicanos, 5.95%, 1/28/31 | $5555000 | $5384098 |
| Repsol E&P Capital Markets U.S. LLC, 5.20%, 9/16/30<sup>(1)</sup> | 1631000 | 1643542 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 1572000 | 1559372 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 1860000 | 1926532 |
|  |  | 18431709 |
| **Passenger Airlines — 1.5%** |  |  |
| American Airlines, Series 2017-2, Class B, 3.70%, 4/15/27 | 1135417 | 1134506 |
| American Airlines Pass-Through Trust, Class A, 3.70%, 4/1/28 | 69092 | 68699 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 1495000 | 1532809 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 2977191 | 2981034 |
| Delta Air Lines, Inc./SkyMiles IP Ltd., 4.50%, 10/20/25<sup>(1)</sup> | 87750 | 87644 |
| Grupo Aeromexico SAB de CV, 8.25%, 11/15/29<sup>(1)</sup> | 1630000 | 1631875 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 575000 | 598978 |
| United Airlines, Inc., 4.375%, 4/15/26<sup>(1)</sup> | 2105000 | 2103577 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 1170000 | 1152969 |
|  |  | 11292091 |
| **Retail REITs — 0.1%** |  |  |
| Realty Income Corp., 3.95%, 2/1/29<sup>(2)</sup> | 1095000 | 1089884 |
| **Semiconductors and Semiconductor Equipment — 0.5%** |  |  |
| Broadcom, Inc., 4.80%, 4/15/28 | 1905000 | 1940421 |
| Intel Corp., 4.875%, 2/10/26 | 1770000 | 1773807 |
|  |  | 3714228 |
| **Software — 0.8%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 2160000 | 2210235 |
| Oracle Corp., 4.45%, 9/26/30 | 2630000 | 2629315 |
| Synopsys, Inc., 4.65%, 4/1/28 | 1005000 | 1016424 |
|  |  | 5855974 |
| **Specialty Retail — 0.1%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 979000 | 1007986 |
| **Technology Hardware, Storage and Peripherals — 0.4%** |  |  |
| Dell International LLC/EMC Corp., 4.15%, 2/15/29<sup>(2)</sup> | 1415000 | 1411929 |
| Western Digital Corp., 2.85%, 2/1/29 | 1374000 | 1293391 |
|  |  | 2705320 |
| **Trading Companies and Distributors — 0.8%** |  |  |
| Aircastle Ltd., 6.50%, 7/18/28<sup>(1)</sup> | 2160000 | 2270934 |
| Herc Holdings, Inc., 5.50%, 7/15/27<sup>(1)</sup> | 1376000 | 1373587 |
| Herc Holdings, Inc., 7.00%, 6/15/30<sup>(1)</sup> | 2720000 | 2827552 |
|  |  | 6472073 |
| **TOTAL CORPORATE BONDS**<br>(Cost $332,853,657) |  | **336568704** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 19.8%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 19.6%** |  |  |
| Angel Oak Mortgage Trust, Series 2019-5, Class A3, VRN, 2.92%, 10/25/49<sup>(1)</sup> | 595324 | 589520 |
| Angel Oak Mortgage Trust, Series 2020-2, Class A2, VRN, 3.86%, 1/26/65<sup>(1)</sup> | 765138 | 746566 |
| BRAVO Residential Funding Trust, Series 2025-NQM7, Class A1B, 5.46%, 7/25/65<sup>(1)</sup> | 2743705 | 2767170 |
| BRAVO Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> | 2404308 | 2314146 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A6A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 1805063 | 1817887 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A9A, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 1380663 | 1393671 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 3051108 | 3085618 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 918950 | 920208 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 1592121 | 1600800 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 626250 | 627991 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Chase Home Lending Mortgage Trust, Series 2025-2, Class A4, VRN, 6.00%, 12/25/55<sup>(1)</sup> | $2769862 | $2825948 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(1)</sup> | 2587390 | 2604957 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, VRN, 6.00%, 6/25/56<sup>(1)</sup> | 3043537 | 3084903 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A9, VRN, 6.25%, 6/25/56<sup>(1)</sup> | 2539237 | 2578848 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 3728204 | 3753784 |
| Citigroup Mortgage Loan Trust, Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 1372738 | 1390814 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 2377219 | 2387224 |
| Citigroup Mortgage Loan Trust, Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 3595054 | 3645807 |
| Cross Mortgage Trust, Series 2024-H3, Class A2, 6.58%, 6/25/69<sup>(1)</sup> | 1865504 | 1892105 |
| EFMT, Series 2025-NQM3, Class A1B, 5.49%, 8/25/70<sup>(1)</sup> | 3557664 | 3589754 |
| GCAT Trust, Series 2022-NQM4, Class A3, 5.73%, 8/25/67<sup>(1)</sup> | 3022526 | 3020785 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 2256625 | 2274720 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ7, Class A7, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 1700497 | 1702236 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ5, Class A5, VRN, 5.50%, 10/25/55<sup>(1)</sup> | 1887161 | 1899236 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6, Class A4, VRN, 6.00%, 11/25/55<sup>(1)</sup> | 3298579 | 3348564 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 2714493 | 2728761 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(1)</sup> | 1520188 | 1539555 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(1)</sup> | 3193913 | 3231499 |
| JP Morgan Mortgage Trust, Series 2024-1, Class A4, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 2115129 | 2136219 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 1452208 | 1458768 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 2012193 | 2017647 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A4, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 2310935 | 2344069 |
| JP Morgan Mortgage Trust, Series 2024-11, Class A6, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 2085203 | 2104006 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 950985 | 958014 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 630014 | 633832 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A3, VRN, 5.50%, 1/25/55<sup>(1)</sup> | 1313625 | 1319177 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 1/25/55<sup>(1)</sup> | 1136230 | 1139530 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 1025894 | 1027465 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 1367361 | 1387836 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 2860060 | 2886231 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4, SEQ, VRN, 6.00%, 9/25/55<sup>(1)</sup> | 3900707 | 3961354 |
| JP Morgan Mortgage Trust, Series 2025-NQM2, Class A1B, 5.57%, 9/25/65<sup>(1)</sup> | 2135066 | 2154720 |
| MFA Trust, Series 2023-NQM3, Class A1, SEQ, 6.62%, 7/25/68<sup>(1)</sup> | 1728139 | 1745854 |
| MFA Trust, Series 2024-NQM1, Class A2, SEQ, 6.83%, 3/25/69<sup>(1)</sup> | 919636 | 933810 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-3, Class A2, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 918741 | 925295 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM1, Class A3, 6.14%, 11/25/69<sup>(1)</sup> | 3053984 | 3087995 |
| OBX Trust, Series 2022-NQM9, Class A2, 6.45%, 9/25/62<sup>(1)</sup> | 1923110 | 1919419 |
| OBX Trust, Series 2024-J1, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 882673 | 886128 |
| OBX Trust, Series 2024-NQM10, Class A3, 6.43%, 5/25/64<sup>(1)</sup> | 481851 | 487633 |
| OBX Trust, Series 2024-NQM11, Class A3, 6.23%, 6/25/64<sup>(1)</sup> | 1969846 | 1990165 |
| OBX Trust, Series 2024-NQM7, Class A1, 6.24%, 3/25/64<sup>(1)</sup> | 1341801 | 1360598 |
| OBX Trust, Series 2024-NQM8, Class A1, 6.23%, 5/25/64<sup>(1)</sup> | 1181264 | 1198690 |
| OBX Trust, Series 2025-J1, Class A4, SEQ, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 3394804 | 3451227 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 4221960 | 4252216 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 2339543 | 2353222 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 2736319 | 2745315 |
| Radian Mortgage Capital Trust, Series 2025-J2, Class A15, VRN, 5.50%, 11/25/55<sup>(1)</sup> | 3343545 | 3373801 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 2869761 | 2877312 |
| Rate Mortgage Trust, Series 2025-J2, Class A5, VRN, 5.50%, 7/25/55<sup>(1)</sup> | 3462960 | 3489315 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 587963 | 589147 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 837963 | 841903 |
| Sequoia Mortgage Trust, Series 2024-8, Class A11, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 1357644 | 1359204 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> |  | $1822385 | $1829692 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> |  | 1158475 | 1163986 |
| Sequoia Mortgage Trust, Series 2025-5, Class A5, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> |  | 3621244 | 3643099 |
| Sequoia Mortgage Trust, Series 2025-7, Class A5, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> |  | 3234172 | 3256363 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> |  | 2227075 | 2243865 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.76%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(1)</sup> |  | 945040 | 954122 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.22%, 6/25/69<sup>(1)</sup> |  | 1442023 | 1462634 |
| Verus Securitization Trust, Series 2024-4, Class A2, 6.57%, 6/25/69<sup>(1)</sup> |  | 1514142 | 1536997 |
| Verus Securitization Trust, Series 2024-5, Class A1, 6.19%, 6/25/69<sup>(1)</sup> |  | 1462412 | 1483778 |
| Verus Securitization Trust, Series 2024-9, Class A3, 5.89%, 11/25/69<sup>(1)</sup> |  | 2676261 | 2693933 |
| Verus Securitization Trust, Series 2025-4, Class A3, 5.75%, 5/25/70<sup>(1)</sup> |  | 1287783 | 1294924 |
|  |  |  | 150323587 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.2%** |  |  |  |
| FHLMC, Series 2022-DNA5, Class M1A, VRN, 7.31%, (30-day average SOFR plus 2.95%), 6/25/42<sup>(1)</sup> |  | 645755 | 658776 |
| FHLMC, Series 2022-DNA6, Class M1A, VRN, 6.51%, (30-day average SOFR plus 2.15%), 9/25/42<sup>(1)</sup> |  | 226320 | 227624 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 |  | 1158317 | 201902 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 |  | 735995 | 112410 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 |  | 1102268 | 153823 |
|  |  |  | 1354535 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $150,338,291) |  |  | **151678122** |
| **ASSET-BACKED SECURITIES — 9.7%** |  |  |  |
| ACM Auto Trust, Series 2023-2A, Class B, 9.85%, 6/20/30<sup>(1)</sup> |  | 2450781 | 2468829 |
| BHG Securitization Trust, Series 2025-1CON, Class B, 5.26%, 4/17/36<sup>(1)</sup> |  | 2250982 | 2277587 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B, 3.45%, 7/15/46<sup>(1)</sup> |  | 1143507 | 1091271 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> |  | 566968 | 559641 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> |  | 3342769 | 3265986 |
| Cherry Securitization Trust, Series 2025-1A, Class B, 6.53%, 11/15/32<sup>(1)</sup> |  | 3349000 | 3419729 |
| ClickLease Equipment Receivables Trust, Series 2024-1, Class B, 7.34%, 2/15/30<sup>(1)</sup> |  | 1114208 | 1116261 |
| College Avenue Student Loans LLC, Series 2019-A, Class C, 4.46%, 12/28/48<sup>(1)</sup> |  | 2859425 | 2796919 |
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52<sup>(1)</sup> | CAD | 1850000 | 1298310 |
| Concord Music Royalties LLC, Series 2024-1A, Class A, SEQ, 5.64%, 10/20/74<sup>(1)</sup> |  | $4087000 | 4121242 |
| Concord Music Royalties LLC, Series 2025-1A, Class A2, SEQ, 5.51%, 7/20/75<sup>(1)</sup> |  | 2362000 | 2381512 |
| DataBank Issuer LLC, Series 2023-1A, Class A2, SEQ, 5.12%, 2/25/53<sup>(1)</sup> |  | 2862000 | 2859264 |
| EDI ABS Issuer 1 LLC, Series 2025-1A, Class B, 4.55%, 7/25/55<sup>(1)</sup> |  | 1356000 | 1300710 |
| Flexential Issuer, Series 2021-1A, Class A2, SEQ, 3.25%, 11/27/51<sup>(1)</sup> |  | 2000000 | 1942595 |
| GAIA Aviation Ltd., Series 2019-1, Class A, 3.97%, 12/15/44<sup>(1)</sup> |  | 361298 | 350550 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> |  | 1173055 | 973229 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.96%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(1)</sup> |  | 1020893 | 1024651 |
| Hilton Grand Vacations Trust, Series 2019-AA, Class A, SEQ, 2.34%, 7/25/33<sup>(1)</sup> |  | 2162489 | 2145808 |
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(1)</sup> |  | 663227 | 681592 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> |  | 2671000 | 2687744 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> |  | 2483436 | 2521801 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> |  | 1435000 | 1452871 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41%, 9/15/31<sup>(1)</sup> |  | 2293000 | 2300987 |
| Mosaic Solar Loan Trust, Series 2021-3A, Class B, 1.92%, 6/20/52<sup>(1)</sup> |  | 2984026 | 2300840 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> |  | 953330 | 914333 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> |  | 2500000 | 1697867 |
| NP SPE II LLC, Series 2019-1A, Class A1, SEQ, 2.57%, 9/20/49<sup>(1)</sup> |  | 482364 | 476002 |
| OnDeck Asset Securitization Trust IV LLC, Series 2024-2A, Class B, 5.42%, 10/17/31<sup>(1)</sup> |  | 1357000 | 1360999 |
| RCKT Mortgage Trust, Series 2024-CES3, Class A1A, VRN, 6.59%, 5/25/44<sup>(1)</sup> |  | 492775 | 501210 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A3, SEQ, 6.67%, 6/25/44<sup>(1)</sup> |  | 2675000 | 2718302 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| RCKT Trust, Series 2025-1A, Class D, 5.42%, 7/25/34<sup>(1)</sup> | $1265000 | $1274617 |
| Research-Driven Pagaya Motor Asset Trust, Series 2025-4A, Class B, 5.50%, 4/25/34<sup>(1)</sup> | 3603967 | 3623947 |
| Santander Bank Auto Credit-Linked Notes, Series 2023-B, Class B, 5.64%, 12/15/33<sup>(1)</sup> | 1030064 | 1040066 |
| Scalelogix ABS U.S. Issuer LLC, Series 2025-1A, Class B, 6.16%, 7/25/55<sup>(1)</sup> | 2350000 | 2347611 |
| Slam Ltd., Series 2021-1A, Class B, 3.42%, 6/15/46<sup>(1)</sup> | 1283275 | 1219499 |
| Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55<sup>(1)</sup> | 1993738 | 2054471 |
| VB-S1 Issuer LLC, Series 2022-1A, Class D, 4.29%, 2/15/52<sup>(1)</sup> | 2500000 | 2460618 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 2339519 | 2341910 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(1)</sup> | 1452611 | 1471489 |
| Wireless PropCo Funding LLC, Series 2025-1A, Class A2, SEQ, 4.07%, 6/25/55<sup>(1)</sup> | 1110265 | 1075435 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $73,990,232) |  | **73918305** |
| **U.S. TREASURY SECURITIES — 9.2%** |  |  |
| U.S. Treasury Notes, 4.50%, 5/15/27<sup>(4)</sup> | 400000 | 405273 |
| U.S. Treasury Notes, 3.875%, 10/15/27<sup>(4)</sup> | 900000 | 904570 |
| U.S. Treasury Notes, 3.875%, 3/15/28 | 6500000 | 6541895 |
| U.S. Treasury Notes, 4.625%, 9/30/28<sup>(4)</sup> | 1000000 | 1028223 |
| U.S. Treasury Notes, 4.125%, 3/31/29 | 50000000 | 50770508 |
| U.S. Treasury Notes, 3.875%, 12/31/29 | 11000000 | 11072402 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $70,350,185) |  | **70722871** |
| **CONVERTIBLE PREFERRED SECURITIES — 7.7%** |  |  |
| **Banks — 7.2%** |  |  |
| Australia & New Zealand Banking Group Ltd., 6.75%<sup>(1)</sup> | 2613000 | 2649041 |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 3800000 | 3803315 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> | 1091000 | 1084395 |
| Banco Mercantil del Norte SA, 7.50%<sup>(1)</sup> | 1600000 | 1636770 |
| Banco Santander SA, 4.75% | 3500000 | 3443251 |
| Barclays PLC, 6.125% | 2872000 | 2875661 |
| Barclays PLC, 8.00% | 838000 | 888181 |
| BNP Paribas SA, 4.625%<sup>(1)</sup> | 2031000 | 2001316 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 3552000 | 3799581 |
| Danske Bank AS, 4.375% | 3853000 | 3831291 |
| HSBC Holdings PLC, 6.00% | 3089000 | 3104729 |
| HSBC Holdings PLC, 6.875% | 706000 | 734579 |
| ING Groep NV, 5.75% | 1885000 | 1892926 |
| ING Groep NV, 7.50% | 2518000 | 2619921 |
| Lloyds Banking Group PLC, 6.75% | 1487000 | 1510948 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 3537000 | 3596559 |
| NatWest Group PLC, 6.00% | 3010000 | 3025209 |
| Nordea Bank Abp, 6.625%<sup>(1)</sup> | 2660000 | 2676785 |
| Skandinaviska Enskilda Banken AB, 6.875% | 4400000 | 4519169 |
| Societe Generale SA, 4.75%<sup>(1)</sup> | 760000 | 753861 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 2230000 | 2394115 |
| Standard Chartered PLC, VRN, 7.75%<sup>(1)</sup> | 754000 | 783027 |
| Svenska Handelsbanken AB, 4.375% | 1600000 | 1576334 |
|  |  | 55200964 |
| **Capital Markets — 0.5%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 3510000 | 3880986 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $58,204,770) |  | **59081950** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 4.2%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | $462000 | 375282 |
| Bank, Series 2019-BN17, Class D, 3.00%, 4/15/52<sup>(1)</sup> | 612000 | 520021 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 6.42%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(5)(6)</sup> | $1683000 | $26507 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class E, VRN, 7.11%, (1-month SOFR plus 2.96%), 11/15/34<sup>(1)(5)(6)</sup> | 1581000 | 16600 |
| Benchmark Mortgage Trust, Series 2018-B5, Class B, 4.57%, 7/15/51 | 921010 | 865678 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.25%, 7/15/51<sup>(1)</sup> | 834000 | 651363 |
| Benchmark Mortgage Trust, Series 2019-B13, Class D, 2.50%, 8/15/57<sup>(1)</sup> | 463000 | 270509 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class A, VRN, 5.42%, (1-month SOFR plus 1.26%), 11/15/38<sup>(1)</sup> | 799000 | 794156 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.77%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 1726000 | 1710941 |
| ELP Commercial Mortgage Trust, Series 2021-ELP, Class B, VRN, 5.39%, (1-month SOFR plus 1.23%), 11/15/38<sup>(1)</sup> | 639670 | 639299 |
| Extended Stay America Trust, Series 2021-ESH, Class D, VRN, 6.51%, (1-month SOFR plus 2.36%), 7/15/38<sup>(1)</sup> | 3020614 | 3025122 |
| Extended Stay America Trust, Series 2021-ESH, Class E, VRN, 7.11%, (1-month SOFR plus 2.96%), 7/15/38<sup>(1)</sup> | 1349242 | 1351710 |
| Life Mortgage Trust, Series 2021-BMR, Class D, VRN, 5.66%, (1-month SOFR plus 1.51%), 3/15/38<sup>(1)</sup> | 2180500 | 2167550 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 437000 | 365136 |
| Morgan Stanley Capital I Trust, Series 2018-L1, Class D, 3.00%, 10/15/51<sup>(1)</sup> | 769000 | 639437 |
| NCMF Trust, Series 2025-MFS, Class C, VRN, 6.24%, 6/10/33<sup>(1)</sup> | 2954000 | 3009848 |
| SCG Mortgage Trust, Series 2024-MSP, Class B, VRN, 6.59%, (1-month SOFR plus 2.44%), 4/15/41<sup>(1)</sup> | 2564000 | 2568026 |
| SHR Trust, Series 2024-LXRY, Class B, VRN, 6.60%, (1-month SOFR plus 2.45%), 10/15/41<sup>(1)</sup> | 2171000 | 2178341 |
| SMRT Commercial Mortgage Trust, Series 2022-MINI, Class B, VRN, 5.50%, (1-month SOFR plus 1.35%), 1/15/39<sup>(1)</sup> | 1000000 | 996759 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, VRN, 5.59%, (1-month SOFR plus 1.44%), 2/15/42<sup>(1)</sup> | 2250000 | 2241501 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.92%, 12/10/34<sup>(1)</sup> | 2990000 | 3027567 |
| UBS Commercial Mortgage Trust, Series 2018-C14, Class B, VRN, 5.10%, 12/15/51 | 1929000 | 1874881 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.31%, 12/15/51<sup>(1)</sup> | 381000 | 347004 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 6.13%, 3/15/40<sup>(1)</sup> | 1939000 | 1943990 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C41, Class D, VRN, 2.60%, 11/15/50<sup>(1)</sup> | 393000 | 330024 |
| Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 470000 | 313565 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $34,910,398) |  | **32250817** |
| **PREFERRED SECURITIES — 4.0%** |  |  |
| **Banks — 1.4%** |  |  |
| Bank of America Corp., 4.375% | 1710000 | 1683870 |
| Bank of America Corp., 6.25% | 1740000 | 1763797 |
| Citigroup, Inc., 3.875% | 2377000 | 2357668 |
| Citigroup, Inc., 4.00% | 2241000 | 2235010 |
| Citigroup, Inc., 6.25% | 2200000 | 2216539 |
| M&T Bank Corp., 5.125% | 73000 | 73108 |
|  |  | 10329992 |
| **Capital Markets — 0.9%** |  |  |
| Charles Schwab Corp., 4.00% | 2386000 | 2361796 |
| Goldman Sachs Group, Inc., 3.80% | 2290000 | 2265575 |
| Goldman Sachs Group, Inc., 7.38% | 2235000 | 2259847 |
|  |  | 6887218 |
| **Consumer Finance — 0.2%** |  |  |
| Ally Financial, Inc., 4.70% | 1730000 | 1597399 |
| **Multi-Utilities — 0.3%** |  |  |
| Sempra, 4.875% | 1999000 | 2001159 |
| **Oil, Gas and Consumable Fuels — 0.6%** |  |  |
| Energy Transfer LP, 6.50% | 3750000 | 3777412 |
| Sunoco LP, 7.875%<sup>(1)</sup> | 926000 | 941145 |
|  |  | 4718557 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Trading Companies and Distributors — 0.6%** | | |
| Air Lease Corp., 4.65% | 1875000 | $1853385 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 3003000 | 2990205 |
|  |  | 4843590 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $30,105,885) |  | **30377915** |
| **COLLATERALIZED LOAN OBLIGATIONS — 1.1%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.61%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | $675841 | 676188 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 6.41%, (1-month SOFR plus 2.26%), 9/15/35<sup>(1)</sup> | 1282648 | 1283391 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 6.17%, (3-month SOFR plus 1.96%), 11/15/28<sup>(1)</sup> | 1775000 | 1779265 |
| KKR CLO 10 Ltd., Series 10, Class BR, VRN, 6.00%, (3-month SOFR plus 1.96%), 9/15/29<sup>(1)</sup> | 165458 | 165424 |
| Mountain View CLO LLC, Series 2017-2A, Class B, VRN, 6.28%, (3-month SOFR plus 1.96%), 1/16/31<sup>(1)</sup> | 1260646 | 1260835 |
| Ready Capital Mortgage Financing LLC, Series 2023-FL11, Class A, VRN, 6.53%, (1-month SOFR plus 2.37%), 10/25/39<sup>(1)</sup> | 10219 | 10224 |
| Sixth Street CLO VIII Ltd., Series 2017-8A, Class BR2, VRN, 6.13%, (3-month SOFR plus 1.80%), 10/20/34<sup>(1)</sup> | 2925000 | 2932027 |
| TRTX Issuer Ltd., Series 2021-FL4, Class A, VRN, 5.46%, (1-month SOFR plus 1.31%), 3/15/38<sup>(1)</sup> | 395365 | 395469 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $8,408,889) |  | **8502823** |
| **BANK LOAN OBLIGATIONS**<sup>(7)</sup> **— 0.4%** |  |  |
| **Aerospace and Defense — 0.1%** |  |  |
| TransDigm, Inc., 2025 Term Loan K, 6.25%, (3-month SOFR plus 2.25%), 3/22/30 | 992462 | 992606 |
| **Passenger Airlines — 0.1%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.50%, (6-month SOFR plus 2.25%), 2/15/28 | 470450 | 470351 |
| **Pharmaceuticals — 0.2%** |  |  |
| Elanco Animal Health, Inc., Term Loan B, 6.13%, (1-month SOFR plus 1.75%), 8/1/27 | 1565470 | 1565509 |
| **TOTAL BANK LOAN OBLIGATIONS**<br>(Cost $3,025,993) |  | **3028466** |
| **MUNICIPAL SECURITIES — 0.3%** |  |  |
| Florida Local Government Finance Commission Rev., (Ponte Vedra Pine Co. LLC Obligated Group), 6.75%, 11/15/30<sup>(1)</sup><br>(Cost $1,920,000) | 1920000 | **1926742** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 0.2%** |  |  |
| **Luxembourg — 0.2%** |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup><br>(Cost $1,874,374) | 1879000 | **1908707** |
| **SHORT-TERM INVESTMENTS — 1.1%** |  |  |
| **Money Market Funds — 0.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 29527 | **29527** |
| **Repurchase Agreements — 1.1%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.50%, 11/15/54, valued at $8,391,717), at 4.19%, dated 9/30/25, due 10/1/25 (Delivery value $8,227,958) |  | 8227000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $8,256,527) |  | **8256527** |
| **TOTAL INVESTMENT SECURITIES — 101.7%**<br>(Cost $774,239,201) |  | **778221949** |
| **OTHER ASSETS AND LIABILITIES — (1.7)%** |  | **(12645482)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**765576467** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** | **FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 1313289 | CAD | 1810604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citibank NA | 12/17/25 | $7608 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** | **FUTURES CONTRACTS PURCHASED** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 2-Year Notes | 84 | December 2025 | $17505469 | $8696 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** | **FUTURES CONTRACTS SOLD** |
| **Reference Entity** | **Contracts** | **Expiration Date** | **Notional<br>Amount** | **Unrealized<br>Appreciation<br>(Depreciation)^** |
| U.S. Treasury 10-Year Notes | 126 | December 2025 | $14175000 | $27442 |
| U.S. Treasury 10-Year Ultra Notes | 51 | December 2025 | 5868984 | (24631) |
|  |  |  | $20043984 | $2811 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** | **CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS** |
| **Reference Entity** | **Type** | **Fixed Rate**<br>**Received (Paid) Quarterly** | **Termination <br>Date** | **Notional <br>Amount** | **Premiums Paid (Received)** | **Unrealized <br>Appreciation <br>(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 44 | Buy | (5.00)% | 6/20/30 | $31560000 | $(2199994) | $(360153) | $(2560147) |

---

^The value for credit default swap agreements serves as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CAD | Canadian Dollar |
| CDX | Credit Derivatives Indexes |
| FHLMC | Federal Home Loan Mortgage Corp. |
| FNMA | Federal National Mortgage Association |
| H15T5Y | Constant Maturity U.S. Treasury Note Yield Curve Rate Index 5 Year |
| IO | Interest Only |
| SEQ | Sequential Payer |
| SOFR | Secured Overnight Financing Rate |
| USD | United States Dollar |
| VRN | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $438,500,885, which represented 57.3% of total net assets.

(2)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.

(3)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(4)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $1,865,998.

(5)Security is in default.

(6)Non-income producing.

(7)The interest rate on a bank loan obligation adjusts periodically based on a predetermined schedule. Rate or range of rates shown is effective at period end. The maturity date on a bank loan obligation may be less than indicated as a result of contractual or optional prepayments. These prepayments cannot be predicted with certainty.

------

Schedule of Investments - Short Duration Strategic Income Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Corporate Bonds |  | $336568704 |  |
| Collateralized Mortgage Obligations |  | 151678122 |  |
| Asset-Backed Securities |  | 73918305 |  |
| U.S. Treasury Securities |  | 70722871 |  |
| Convertible Preferred Securities |  | 59081950 |  |
| Commercial Mortgage-Backed Securities |  | 32250817 |  |
| Preferred Securities |  | 30377915 |  |
| Collateralized Loan Obligations |  | 8502823 |  |
| Bank Loan Obligations |  | 3028466 |  |
| Municipal Securities |  | 1926742 |  |
| Sovereign Governments and Agencies |  | 1908707 |  |
| Short-Term Investments | $29527 | 8227000 |  |
|  | $29527 | $778192422 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $36138 |  |  |
| Forward Foreign Currency Exchange Contracts |  | $7608 |  |
|  | $36138 | $7608 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $24631 |  |  |
| Swap Agreements |  | $2560147 |  |
|  | $24631 | $2560147 |  |

---

**DERIVATIVE INSTRUMENTS**

As of period end, the value of derivative instruments located on the Statement of Assets and Liabilities were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Asset Derivatives:** | | | | |
| &nbsp;&nbsp;Receivable for variation margin on futures contracts\* |  |  | $13564 | $13564 |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts |  | $7608 |  | 7608 |
|  |  |  |  | $21172 |
| **Liability Derivatives:** |  |  |  |  |
| &nbsp;&nbsp;Payable for variation margin on swap agreements\* | $5543 |  |  | $5543 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts or centrally cleared swap agreements, as applicable, as reported in the Schedule of Investments.

------

Schedule of Investments - Short Duration Strategic Income Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Total** |
| **Net realized gain (loss) on:** | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions |  | $(38824) |  | $(38824) |
| &nbsp;&nbsp;Futures contract transactions |  |  | $750137 | 750137 |
| &nbsp;&nbsp;Swap agreement transactions | $(146246) |  |  | (146246) |
|  |  |  |  | $565067 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $7834 |  | $7834 |
| &nbsp;&nbsp;Futures contracts |  |  | $(454372) | (454372) |
| &nbsp;&nbsp;Swap agreements | $(360153) |  |  | (360153) |
|  |  |  |  | $(806691) |

---

See Notes to Financial Statements.

------

Schedule of Investments - U.S. Government Money Market Fund

**SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 43.0%** | **Principal Amount** | **Value** |
| 1450 Midvale Investors LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | $9855000 | $9855000 |
| 1834 Bentley Investors LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7840000 | 7840000 |
| 2140 Bentley Investors LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4225000 | 4225000 |
| 412 Madison LLC, VRDN, 4.20%, 10/7/25 (LOC: FNMA) | 24000000 | 24000000 |
| 500 Columbia Place LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 22540000 | 22540000 |
| 5th & Mendocino Partners Owner LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7540000 | 7540000 |
| Allen C Stonecipher Life Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6410000 | 6410000 |
| Anton Santa Cruz LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 11825000 | 11825000 |
| Barbour Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9005000 | 9005000 |
| Buddy Petersen Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 6030000 | 6030000 |
| Champion Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4000000 | 4000000 |
| EPR GO Zone Holdings LLC, VRDN, 4.28%, 10/7/25 (LOC: FHLB) | 24995000 | 24995000 |
| Fairfield North Texas Associates LP, VRDN, 4.20%, 10/9/25 (LOC: FHLB) | 9550000 | 9550000 |
| Gold River 659 LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 18500000 | 18500000 |
| Hartsfield Family Trust 2021, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 5210000 | 5210000 |
| Housing Venture I LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9345000 | 9345000 |
| Jefferson Centerpointe LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7300000 | 7300000 |
| Jefferson Exchange at Riverside LLC, Series B, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 15960000 | 15960000 |
| Jefferson Monrovia South LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 11685000 | 11685000 |
| JL Irrevocable Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 8275000 | 8275000 |
| Johnson Capital Management LLC, VRN, 4.42%, 6/1/47 (LOC: FHLB) | 1175000 | 1175000 |
| Johnston Family Insurance LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4035000 | 4035000 |
| KDF Glenview LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 3950000 | 3950000 |
| Krawitz Family Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 2480000 | 2480000 |
| Lee Bason Family Insurance Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7240000 | 7240000 |
| Leo@cartersville LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 4100000 | 4100000 |
| Marvin J Base 2019 Irrevocable Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7665000 | 7665000 |
| Michael K. Fuhrman & Kristin D. Fuhrman, VRDN, 4.20%, 10/9/25 (LOC: FHLB) | 5585000 | 5585000 |
| Richard F Wilks Spousal Gifting Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9840000 | 9840000 |
| Santa Monica Ocean Park Partners LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 8320000 | 8320000 |
| Scheel Investments LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 16395000 | 16395000 |
| Sheryl P Werner Irrevocable Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 3830000 | 3830000 |
| SIOF 4252 Whittier Blvd LP, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 9900000 | 9900000 |
| SRMHayward LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 18800000 | 18800000 |
| Sundowner Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 1590000 | 1590000 |
| Supreme Satori Issuing Trust, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 3210000 | 3210000 |
| Synergy Colgan Creek LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 24970000 | 24970000 |
| Trinity Mills Multifamily I Owner LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 7825000 | 7825000 |
| TSManion LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 8105000 | 8105000 |
| Varenna Care Center LP, VRDN, 4.20%, 10/9/25 (LOC: FHLB) | 2850000 | 2850000 |
| West Valley MC LLC, VRDN, 4.20%, 10/7/25 (LOC: FHLB) | 13500000 | 13500000 |
| **TOTAL CORPORATE BONDS** |  | **389455000** |
| **U.S. GOVERNMENT AGENCY SECURITIES — 22.6%** |  |  |
| **Adjustable-Rate U.S. Government Agency Securities — 7.2%** |  |  |
| FHLB, VRN, 4.32%, (SOFR plus 0.19%), 10/29/26 | 30000000 | 30000000 |
| FHLB, VRN, 4.31%, (SOFR plus 0.18%), 12/16/26 | 25000000 | 25003113 |
| FHLB, VRN, 4.29%, (SOFR plus 0.16%), 9/15/27 | 10000000 | 10000000 |
|  |  | 65003113 |
| **Fixed-Rate U.S. Government Agency Securities — 8.6%** |  |  |
| Federal Farm Credit Banks Funding Corp., 4.11%, 8/25/26 | 30000000 | 29995956 |
| FHLB, 0.57%, 12/16/25 | 4540000 | 4505755 |

---

------

Schedule of Investments - U.S. Government Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| FHLB, 0.58%, 1/28/26 | $1000000 | $988627 |
| FHLB, 4.36%, 5/22/26 | 10000000 | 10000000 |
| FHLB, 4.42%, 6/1/26 | 7750000 | 7750000 |
| FHLMC, 0.70%, 12/30/25 | 15000000 | 14871374 |
| FHLMC, 3.70%, 3/9/26 | 10000000 | 9991823 |
|  |  | 78103535 |
| **Zero-Coupon U.S. Government Agency Securities**<sup>(1)</sup> **— 6.8%** |  |  |
| Federal Home Loan Bank Discount Notes, 0.00%, 10/2/25 | 3400000 | 3399598 |
| Federal Home Loan Bank Discount Notes, 0.00%, 10/20/25 | 8199000 | 8180912 |
| Federal Home Loan Bank Discount Notes, 0.00%, 10/23/25 | 25000000 | 24934993 |
| Federal Home Loan Mortgage Corp. Discount Notes, 0.00%, 11/3/25 | 10000000 | 9961913 |
| Federal National Mortgage Association Discount Notes, 0.00%, 12/2/25 | 10000000 | 9931714 |
| Tennessee Valley Authority Principal STRIPS, 0.00%, 11/1/25 | 5000000 | 4981292 |
|  |  | 61390422 |
| **TOTAL U.S. GOVERNMENT AGENCY SECURITIES** |  | **204497070** |
| **U.S. TREASURY SECURITIES**<sup>(2)</sup> **— 21.4%** |  |  |
| U.S. Treasury Bills, 4.29%, 10/7/25 | 5000000 | 4996471 |
| U.S. Treasury Bills, 4.24%, 10/14/25 | 18297000 | 18269367 |
| U.S. Treasury Bills, 4.07%, 10/21/25 | 530000 | 528819 |
| U.S. Treasury Bills, 4.21%, 11/13/25 | 15000000 | 14925646 |
| U.S. Treasury Bills, 4.11%, 12/23/25 | 30000000 | 29719875 |
| U.S. Treasury Bills, 4.17%, 1/2/26 | 10000000 | 9893825 |
| U.S. Treasury Bills, 4.02%, 1/6/26 | 10000000 | 9893165 |
| U.S. Treasury Bills, 4.20%, 1/8/26 | 10000000 | 9886012 |
| U.S. Treasury Bills, 4.00%, 2/19/26 | 10000000 | 9845487 |
| U.S. Treasury Notes, 0.75%, 4/30/26 | 20000000 | 19607330 |
| U.S. Treasury Notes, 4.88%, 4/30/26 | 10000000 | 10035849 |
| U.S. Treasury Notes, VRN, 4.14%, (3-month USBMMY plus 0.25%), 1/31/26 | 56245000 | 56273235 |
| **TOTAL U.S. TREASURY SECURITIES** |  | **193875081** |
| **REPURCHASE AGREEMENTS — 10.2%** |  |  |
| Fixed Income Clearing Corp.(collateralized by various U.S. Treasury obligations, 3.625 - 4.25%, 2/15/53 - 2/15/54, valued at $94,790,742) at 4.19%, dated 9/30/25, due 10/1/25 (Delivery value $92,942,816) |  | **92932000** |
| **MUNICIPAL SECURITIES — 2.4%** |  |  |
| Downtown Bainbridge Development Authority Rev., (Rivertown Development LLC), VRDN, 4.51%, 10/7/25 (LOC: First Port City Bank)(SBBPA: FHLB)<sup>(3)</sup> | 3765000 | 3765000 |
| Evergreen-Conecuh Capital Improvement Cooperative District Rev., (Evergreen Hopitality LLC), VRDN, 4.60%, 10/7/25 (LOC: Southpoint Bank and FHLB)<sup>(3)</sup> | 8850000 | 8850000 |
| Washington State Housing Finance Commission Rev., (Ballard Landmark Inn LLC), VRDN, Series B, 4.35%, 10/7/25 (LOC: East West Bank and FHLB) | 5760000 | 5760000 |
| Washington State Housing Finance Commission Rev., (Lodge at Eagle Ridge LLC), VRDN, Series B, 4.20%, 10/7/25 (LOC: East West Bank and FHLB) | 3425000 | 3425000 |
| **TOTAL MUNICIPAL SECURITIES** |  | **21800000** |
| **TOTAL INVESTMENT SECURITIES — 99.6%** |  | **902559151** |
| **OTHER ASSETS AND LIABILITIES — 0.4%** |  | **3305905** |
| **TOTAL NET ASSETS — 100.0%** |  | $**905865056** |

---

------

Schedule of Investments - U.S. Government Money Market Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| FHLB | – | Federal Home Loan Bank |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| LOC | – | Letter of Credit |
| SBBPA | – | Standby Bond Purchase Agreement |
| SOFR | – | Secured Overnight Financing Rate |
| STRIPS | – | Separate Trading of Registered Interest and Principal of Securities |
| USBMMY | – | U.S. Treasury Bill Money Market Yield |
| VRDN | – | Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed. |
| VRN | – | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |

---

(1)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(2)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

(3)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $12,615,000, which represented 1.4% of total net assets.

**FAIR VALUE MEASUREMENTS**

As of period end, the fund's investment securities were classified as Level 2.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **SEPTEMBER 30, 2025 (UNAUDITED)** | | |
| | **Core Plus Fund** | **Diversified Bond Fund** |
| **Assets** | | |
| Investment securities, at value | $438237088 | $5010988351 |
| Repurchase agreements, at value |  | 30075000 |
| Cash | 260555 | 1625982 |
| Receivable for investments sold | 11683732 | 139073565 |
| Receivable for capital shares sold | 32511 | 1069379 |
| Unrealized appreciation on forward foreign currency exchange contracts | 68024 | 485882 |
| Interest and dividends receivable | 3690952 | 37153270 |
|  | 453972862 | 5220471429 |
| **Liabilities** |  |  |
| Payable for collateral received for forward commitments |  | 1585160 |
| Payable for investments purchased | 24826585 | 292176702 |
| Payable for capital shares redeemed | 31910 | 31667403 |
| Payable for variation margin on futures contracts | 123662 | 1256539 |
| Payable for variation margin on swap agreements | 3135 | 30629 |
| Accrued management fees | 187880 | 595894 |
| Distribution and service fees payable | 3322 | 13795 |
| Dividends payable | 11951 | 122339 |
|  | 25188445 | 327448461 |
| **Net Assets** | $428784417 | $4893022968 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $518791250 | $5916060081 |
| Distributable earnings (loss) | (90006833) | (1023037113) |
|  | $428784417 | $4893022968 |
| Investment securities, at cost | $436922206 | $5007114347 |
| Repurchase agreements, at cost |  | $30075000 |

---

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** |
| Investor Class | $401736114 | 43229152 | $9.29 |
| I Class | $12150857 | 1307399 | $9.29 |
| A Class | $11616231 | 1249770 | $9.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (net asset value divide by 0.955) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (net asset value divide by 0.955) |  | $9.73 |
| C Class | $494816 | 53239 | $9.29 |
| R Class | $1234247 | 132794 | $9.29 |
| R5 Class | $1547063 | 166487 | $9.29 |
| G Class | $5089 | 548 | $9.29 |
| **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| Investor Class | $540962599 | 58344932 | $9.27 |
| I Class | $656059861 | 70727478 | $9.28 |
| Y Class | $232327551 | 25040156 | $9.28 |
| A Class | $43808768 | 4724614 | $9.27 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (net asset value divide by 0.955) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (net asset value divide by 0.955) |  | $9.71 |
| C Class | $3614475 | 390158 | $9.26 |
| R Class | $4276660 | 461345 | $9.27 |
| R5 Class | $5792 | 624 | $9.28 |
| R6 Class | $118399913 | 12758767 | $9.28 |
| G Class | $3293567349 | 354976494 | $9.28 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **SEPTEMBER 30, 2025 (UNAUDITED)** | | |
| | **High Income Fund** | **High-Yield Fund** |
| **Assets** | | |
| Investment securities, at value | $1905492143 | $88529830 |
| Investment made with cash collateral received for securities on loan, at value |  | 6304330 |
| Cash | 2009697 | 123057 |
| Deposits with broker on future contracts |  | 37500 |
| Receivable for investments sold | 9553967 | 432993 |
| Receivable for capital shares sold | 3096316 | 11774 |
| Interest and dividends receivable | 33713454 | 1368296 |
| Securities lending receivable |  | 5139 |
|  | 1953865577 | 96812919 |
| **Liabilities** |  |  |
| Payable for collateral received for securities on loan |  | 6304330 |
| Payable for investments purchased | 29862996 | 2345609 |
| Payable for capital shares redeemed | 11862714 | 90153 |
| Payable for variation margin on future contracts |  | 313 |
| Accrued management fees | 533663 | 47704 |
| Distribution and service fees payable | 1669 | 2938 |
| Dividends payable | 640525 | 57232 |
|  | 42901567 | 8848279 |
| **Net Assets** | $1910964010 | $87964640 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $2050871736 | $135886473 |
| Distributable earnings (loss) | (139907726) | (47921833) |
|  | $1910964010 | $87964640 |
| Investment securities, at cost | $1916167394 | $87860468 |
| Investment securities on loan, at value |  | $6426424 |
| Investment made with cash collateral received for securities on loan, at cost |  | $6304330 |

---

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** |
| Investor Class | $200648397 | 22758340 | $8.82 |
| I Class | $148517483 | 16850965 | $8.81 |
| Y Class | $335503924 | 38081863 | $8.81 |
| A Class | $8268083 | 937782 | $8.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) |  | $9.24 |
| R5 Class | $274625 | 31159 | $8.81 |
| R6 Class | $373455113 | 42400991 | $8.81 |
| G Class | $844296385 | 95824463 | $8.81 |
| **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** |
| Investor Class | $74239168 | 14276195 | $5.20 |
| I Class | $2615936 | 501478 | $5.22 |
| Y Class | $27474 | 5272 | $5.21 |
| A Class | $8665978 | 1664826 | $5.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) |  | $5.46 |
| C Class | $659980 | 126830 | $5.20 |
| R Class | $1526099 | 293242 | $5.20 |
| R5 Class | $59552 | 11440 | $5.21 |
| R6 Class | $170453 | 32808 | $5.20 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **SEPTEMBER 30, 2025 (UNAUDITED)** | | |
| | **Multisector Income Fund** | **Prime Money Market Fund** |
| **Assets** | | |
| Investment securities, at value | $108254204 | $2496164052 |
| Investment made with cash collateral received for securities on loan, at value | 3687193 |  |
| Repurchase agreements, at value | 2452000 | 26373000 |
| Cash | 8640 | 6957 |
| Receivable for investments sold | 1101292 | 345000 |
| Receivable for capital shares sold | 157987 | 2191478 |
| Unrealized appreciation on forward foreign currency exchange contracts | 823 |  |
| Interest and dividends receivable | 1008596 | 10153036 |
| Securities lending receivable | 1281 |  |
|  | 116672016 | 2535233523 |
| **Liabilities** |  |  |
| Payable for collateral received for securities on loan | 3687193 |  |
| Payable for investments purchased | 3303895 | 42326683 |
| Payable for capital shares redeemed | 150816 | 2407972 |
| Payable for variation margin on futures contracts | 5922 |  |
| Accrued management fees | 43068 | 1152170 |
| Distribution and service fees payable | 2253 | 6734 |
| Dividends payable | 23380 | 59407 |
|  | 7216527 | 45952966 |
| **Net Assets** | $109455489 | $2489280557 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $117083165 | $2489356812 |
| Distributable earnings (loss) | (7627676) | (76255) |
|  | $109455489 | $2489280557 |
| Investment securities, at cost | $107398204 | $2496164052 |
| Investment securities on loan, at value | $3846655 |  |
| Investment made with cash collateral received for securities on loan, at cost | $3687193 |  |
| Repurchase agreements, at cost | $2452000 | $26373000 |

---

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** |
| Investor Class | $54099446 | 5971956 | $9.06 |
| I Class | $23995132 | 2649539 | $9.06 |
| Y Class | $6822 | 753 | $9.06 |
| A Class | $8322610 | 918741 | $9.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.955) |  | $9.49 |
| C Class | $384073 | 42419 | $9.05 |
| R Class | $581849 | 64214 | $9.06 |
| R5 Class | $868600 | 95885 | $9.06 |
| R6 Class | $21196957 | 2340212 | $9.06 |
| **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** |
| Investor Class | $2458747736 | 2458970512 | $1.00 |
| A Class | $29411701 | 29401105 | $1.00 |
| C Class | $1121120 | 1120448 | $1.00 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **SEPTEMBER 30, 2025 (UNAUDITED)** | | |
| | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Assets** | | |
| Investment securities, at value | $1132471525 | $1526403373 |
| Cash | 27591 | 301041 |
| Foreign currency holdings, at value |  | 10 |
| Receivable for investments sold | 6146756 | 1633399 |
| Receivable for capital shares sold | 172095 | 690396 |
| Receivable for variation margin on futures contracts |  | 2287 |
| Unrealized appreciation on forward foreign currency exchange contracts |  | 187090 |
| Interest and dividends receivable | 9320848 | 6153978 |
|  | 1148138815 | 1535371574 |
| **Liabilities** |  |  |
| Payable for investments purchased | 39546505 | 45907183 |
| Payable for capital shares redeemed | 3347506 | 4455738 |
| Payable for variation margin on futures contracts | 6033 |  |
| Payable for variation margin on swap agreements | 2845 | 25625 |
| Accrued management fees | 223753 | 344780 |
| Distribution and service fees payable | 5262 | 13804 |
| Dividends payable | 62306 |  |
|  | 43194210 | 50747130 |
| **Net Assets** | $1104944605 | $1484624444 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $1199545226 | $1504433482 |
| Distributable earnings (loss) | (94600621) | (19809038) |
|  | $1104944605 | $1484624444 |
| Investment securities, at cost | $1128955960 | $1513821471 |
| Foreign currency holdings, at cost |  | $9 |

---

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** |
| Investor Class | $293812009 | 29754867 | $9.87 |
| I Class | $156842258 | 15886964 | $9.87 |
| A Class | $14850475 | 1504587 | $9.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) |  | $10.10 |
| C Class | $2326746 | 235549 | $9.88 |
| R Class | $693194 | 70170 | $9.88 |
| R5 Class | $10502922 | 1063868 | $9.87 |
| R6 Class | $76317247 | 7737078 | $9.86 |
| G Class | $549599754 | 55707480 | $9.87 |
| **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** |
| Investor Class | $236987598 | 22210457 | $10.67 |
| I Class | $423425693 | 39314923 | $10.77 |
| Y Class | $25833056 | 2396268 | $10.78 |
| A Class | $28049224 | 2661210 | $10.54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) |  | $10.78 |
| C Class | $2125499 | 211146 | $10.07 |
| R Class | $15187682 | 1409745 | $10.77 |
| R5 Class | $104442461 | 9697035 | $10.77 |
| R6 Class | $65883737 | 6117603 | $10.77 |
| G Class | $582689494 | 53996270 | $10.79 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **SEPTEMBER 30, 2025 (UNAUDITED)** | | |
| | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** |
| **Assets** | | |
| Investment securities, at value | $769994949 | $809627151 |
| Repurchase agreements, at value | 8227000 | 92932000 |
| Cash |  | 11218 |
| Receivable for investments sold | 4825672 | 480000 |
| Receivable for capital shares sold | 670877 | 627117 |
| Receivable for variation margin on futures contracts | 13564 |  |
| Unrealized appreciation on forward foreign currency exchange contracts | 7608 |  |
| Interest and dividends receivable | 6412940 | 2900195 |
|  | 790152610 | 906577681 |
| **Liabilities** |  |  |
| Disbursements in excess of demand deposit cash | 10872 |  |
| Payable for investments purchased | 22655441 |  |
| Payable for capital shares redeemed | 1619592 | 361217 |
| Payable for variation margin on swap agreements | 5543 |  |
| Accrued management fees | 268210 | 329698 |
| Distribution and service fees payable | 6768 | 14049 |
| Dividends payable | 9717 | 7661 |
|  | 24576143 | 712625 |
| **Net Assets** | $765576467 | $905865056 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $821163932 | $905998151 |
| Distributable earnings (loss) | (55587465) | (133095) |
|  | $765576467 | $905865056 |
| Investment securities, at cost | $766012201 | $809627151 |
| Repurchase agreements, at cost | $8227000 | $92932000 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** |
| Investor Class | $149039425 | 16449359 | $9.06 |
| I Class | $575276152 | 63520686 | $9.06 |
| Y Class | $1198552 | 132309 | $9.06 |
| A Class | $19472279 | 2149690 | $9.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9775) |  | $9.27 |
| C Class | $3087626 | 340840 | $9.06 |
| R Class | $698625 | 77064 | $9.07 |
| R5 Class | $208277 | 22990 | $9.06 |
| R6 Class | $16595531 | 1830872 | $9.06 |
| **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** |
| Investor Class | $838914439 | 839163251 | $1.00 |
| A Class | $66722517 | 66736881 | $1.00 |
| C Class | $228100 | 228179 | $1.00 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | |
| | **Core Plus Fund** | **Diversified Bond Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $11073739 | $133397073 |
| Dividends | 60160 | 560087 |
| Less foreign taxes withheld |  | (297) |
|  | 11133899 | 133956863 |
| **Expenses:** |  |  |
| Management fees | 1125406 | 9987768 |
| Interest expenses | 7553 | 77803 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 14331 | 54673 |
| &nbsp;&nbsp;&nbsp;C Class | 2417 | 19511 |
| &nbsp;&nbsp;&nbsp;R Class | 2664 | 10444 |
| Trustees' fees and expenses | 14199 | 181365 |
|  | 1166570 | 10331564 |
| Fees waived | (9) | (6399683) |
|  | 1166561 | 3931881 |
| **Net investment income (loss)** | 9967338 | 130024982 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 623552 | (13087214) |
| Forward foreign currency exchange contract transactions | 49 | 64190 |
| Futures contract transactions | (1316013) | (5979776) |
| Swap agreement transactions | (93319) | (923162) |
| Foreign currency translation transactions | (26674) | (207843) |
|  | (812405) | (20133805) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 4927099 | 78699041 |
| Forward foreign currency exchange contracts | 74321 | 485882 |
| Futures contracts | 984798 | 3437550 |
| Swap agreements | (204157) | (2009020) |
| Translation of assets and liabilities in foreign currencies | (4639) | (2077) |
|  | 5777422 | 80611376 |
| **Net realized and unrealized gain (loss)** | 4965017 | 60477571 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $14932355 | $190502553 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | |
| | **High Income Fund** | **High-Yield Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $72323570 | $2653892 |
| Dividends | 63555 | 123667 |
| Securities lending, net |  | 38250 |
|  | 72387125 | 2815809 |
| **Expenses:** |  |  |
| Management fees | 5584224 | 301868 |
| Interest expenses |  | 34 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 9628 | 10021 |
| &nbsp;&nbsp;&nbsp;C Class |  | 3468 |
| &nbsp;&nbsp;&nbsp;R Class |  | 3695 |
| Trustees' fees and expenses | 65726 | 2850 |
|  | 5659578 | 321936 |
| Fees waived | (2483956) |  |
|  | 3175622 | 321936 |
| **Net investment income (loss)** | 69211503 | 2493873 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 353561 | (466274) |
| Futures contract transactions |  | 37594 |
|  | 353561 | (428680) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 52372038 | 2720116 |
| Futures contracts |  | 7461 |
|  | 52372038 | 2727577 |
| **Net realized and unrealized gain (loss)** | 52725599 | 2298897 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $121937102 | $4792770 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | |
| | **Multisector Income Fund** | **Prime Money Market Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $3149694 | $55407939 |
| Dividends | 59554 |  |
| Securities lending, net | 5860 |  |
|  | 3215108 | 55407939 |
| **Expenses:** |  |  |
| Management fees | 255556 | 6953373 |
| Interest expenses | 1717 |  |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 9659 | 37687 |
| &nbsp;&nbsp;&nbsp;C Class | 2387 | 4611 |
| &nbsp;&nbsp;&nbsp;R Class | 2198 |  |
| Trustees' fees and expenses | 3571 | 82298 |
|  | 275088 | 7077969 |
| **Net investment income (loss)** | 2940020 | 48329970 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 507764 | (8620) |
| Forward foreign currency exchange contract transactions | (4197) |  |
| Futures contract transactions | 540548 |  |
| Swap agreement transactions | (23749) |  |
| Foreign currency translation transactions | 23 |  |
|  | 1020389 | (8620) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 767483 |  |
| Forward foreign currency exchange contracts | 847 |  |
| Futures contracts | (7269) |  |
| Swap agreements | (43660) |  |
|  | 717401 |  |
| **Net realized and unrealized gain (loss)** | 1737790 | (8620) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $4677810 | $48321350 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | |
| | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $28945636 | $33664390 |
| Dividends | 289534 | 588055 |
|  | 29235170 | 34252445 |
| **Expenses:** |  |  |
| Management fees | 2276365 | 3077901 |
| Interest expenses | 3233 | 174639 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 20160 | 34695 |
| &nbsp;&nbsp;&nbsp;C Class | 11936 | 11010 |
| &nbsp;&nbsp;&nbsp;R Class | 1713 | 37650 |
| Trustees' fees and expenses | 38660 | 51544 |
|  | 2352067 | 3387439 |
| Fees waived | (940708) | (981989) |
|  | 1411359 | 2405450 |
| **Net investment income (loss)** | 27823811 | 31846995 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 5997871 | (1253741) |
| Forward foreign currency exchange contract transactions |  | 13462 |
| Futures contract transactions | 582985 | 1544594 |
| Swap agreement transactions | (71648) | 5158068 |
| Foreign currency translation transactions |  | (15563) |
|  | 6509208 | 5446820 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 1722560 | 8274477 |
| Forward foreign currency exchange contracts |  | 187090 |
| Futures contracts | (253174) | (430742) |
| Swap agreements | (198642) | (5698572) |
| Translation of assets and liabilities in foreign currencies |  | (311) |
|  | 1270744 | 2331942 |
| **Net realized and unrealized gain (loss)** | 7779952 | 7778762 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $35603763 | $39625757 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED)** | |
| | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $20163540 | $17815558 |
| Dividends | 47416 |  |
|  | 20210956 | 17815558 |
| **Expenses:** |  |  |
| Management fees | 1619591 | 1811424 |
| Interest expenses | 2910 |  |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 22459 | 89467 |
| &nbsp;&nbsp;&nbsp;C Class | 14944 | 898 |
| &nbsp;&nbsp;&nbsp;R Class | 1979 |  |
| Trustees' fees and expenses | 25147 | 26106 |
|  | 1687030 | 1927895 |
| **Net investment income (loss)** | 18523926 | 15887663 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 3080314 | 3547 |
| Forward foreign currency exchange contract transactions | (38824) |  |
| Futures contract transactions | 750137 |  |
| Swap agreement transactions | (146246) |  |
| Foreign currency translation transactions | 212 |  |
|  | 3645593 | 3547 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 3087743 |  |
| Forward foreign currency exchange contracts | 7834 |  |
| Futures contracts | (454372) |  |
| Swap agreements | (360153) |  |
| Translation of assets and liabilities in foreign currencies | 12 |  |
|  | 2281064 |  |
| **Net realized and unrealized gain (loss)** | 5926657 | 3547 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $24450583 | $15891210 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | | |
| | **Core Plus Fund** | **Core Plus Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| **Increase (Decrease) in Net Assets** | **September 30, 2025** | **March 31, 2025** | **September 30, 2025** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $9967338 | $19558103 | $130024982 | $287713674 |
| Net realized gain (loss) | (812405) | (5002265) | (20133805) | (81288421) |
| Change in net unrealized appreciation (depreciation) | 5777422 | 5392824 | 80611376 | 90394969 |
| Net increase (decrease) in net assets resulting from operations | 14932355 | 19948662 | 190502553 | 296820222 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (9309225) | (18525717) | (11889985) | (25141368) |
| &nbsp;&nbsp;&nbsp;I Class | (332749) | (608084) | (14995714) | (32828055) |
| &nbsp;&nbsp;&nbsp;Y Class |  |  | (5167453) | (9611097) |
| &nbsp;&nbsp;&nbsp;A Class | (258230) | (554179) | (914941) | (2446221) |
| &nbsp;&nbsp;&nbsp;C Class | (9073) | (19515) | (67097) | (216053) |
| &nbsp;&nbsp;&nbsp;R Class | (22586) | (39152) | (82120) | (161301) |
| &nbsp;&nbsp;&nbsp;R5 Class | (73564) | (137273) | (131) | (253) |
| &nbsp;&nbsp;&nbsp;R6 Class |  |  | (2769035) | (5987893) |
| &nbsp;&nbsp;&nbsp;G Class | (131) | (259) | (94866236) | (215288134) |
| Decrease in net assets from distributions | (10005558) | (19884179) | (130752712) | (291680375) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (9701995) | 37828774 | (560593581) | (798142840) |
| **Net increase (decrease) in net assets** | (4775198) | 37893257 | (500843740) | (793002993) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 433559615 | 395666358 | 5393866708 | 6186869701 |
| End of period | $428784417 | $433559615 | $4893022968 | $5393866708 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | | |
| | **High Income Fund** | **High Income Fund** | **High-Yield Fund** | **High-Yield Fund** |
| **Increase (Decrease) in Net Assets** | **September 30, 2025** | **March 31, 2025** | **September 30, 2025** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $69211503 | $152218002 | $2493873 | $5190176 |
| Net realized gain (loss) | 353561 | (22771118) | (428680) | 353396 |
| Change in net unrealized appreciation (depreciation) | 52372038 | 27286660 | 2727577 | 182248 |
| Net increase (decrease) in net assets resulting from operations | 121937102 | 156733544 | 4792770 | 5725820 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (6159476) | (9594398) | (2124825) | (4193007) |
| &nbsp;&nbsp;&nbsp;I Class | (4896145) | (30999035) | (77572) | (424733) |
| &nbsp;&nbsp;&nbsp;Y Class | (10898643) | (20978193) | (828) | (1849) |
| &nbsp;&nbsp;&nbsp;A Class | (244218) | (410072) | (227281) | (439269) |
| &nbsp;&nbsp;&nbsp;C Class |  |  | (17068) | (29960) |
| &nbsp;&nbsp;&nbsp;R Class |  |  | (40026) | (75111) |
| &nbsp;&nbsp;&nbsp;R5 Class | (6998) | (12539) | (1760) | (3851) |
| &nbsp;&nbsp;&nbsp;R6 Class | (12112838) | (16383603) | (7011) | (20196) |
| &nbsp;&nbsp;&nbsp;G Class | (34864321) | (73877258) |  |  |
| Decrease in net assets from distributions | (69182639) | (152255098) | (2496371) | (5187976) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (53236776) | (271240752) | (702204) | (8391146) |
| **Net increase (decrease) in net assets** | (482313) | (266762306) | 1594195 | (7853302) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1911446323 | 2178208629 | 86370445 | 94223747 |
| End of period | $1910964010 | $1911446323 | $87964640 | $86370445 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | | |
| | **Multisector Income Fund** | **Multisector Income Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** |
| **Increase (Decrease) in Net Assets** | **September 30, 2025** | **March 31, 2025** | **September 30, 2025** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $2940020 | $5967384 | $48329970 | $102065439 |
| Net realized gain (loss) | 1020389 | 1097403 | (8620) | 7985 |
| Change in net unrealized appreciation (depreciation) | 717401 | (301265) |  |  |
| Net increase (decrease) in net assets resulting from operations | 4677810 | 6763522 | 48321350 | 102073424 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (1458130) | (2740727) | (47764439) | (100790163) |
| &nbsp;&nbsp;&nbsp;I Class | (655064) | (2036779) |  |  |
| &nbsp;&nbsp;&nbsp;Y Class | (190) | (383) |  |  |
| &nbsp;&nbsp;&nbsp;A Class | (203000) | (357008) | (557903) | (1220444) |
| &nbsp;&nbsp;&nbsp;C Class | (10778) | (24605) | (19683) | (44072) |
| &nbsp;&nbsp;&nbsp;R Class | (22048) | (47960) |  |  |
| &nbsp;&nbsp;&nbsp;R5 Class | (23729) | (49012) |  |  |
| &nbsp;&nbsp;&nbsp;R6 Class | (595846) | (962481) |  |  |
| Decrease in net assets from distributions | (2968785) | (6218955) | (48342025) | (102054679) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 3114383 | (3657350) | 61377677 | 294635786 |
| **Net increase (decrease) in net assets** | 4823408 | (3112783) | 61357002 | 294654531 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 104632081 | 107744864 | 2427923555 | 2133269024 |
| End of period | $109455489 | $104632081 | $2489280557 | $2427923555 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | | |
| | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Increase (Decrease) in Net Assets** | **September 30, 2025** | **March 31, 2025** | **September 30, 2025** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $27823811 | $62829181 | $31846995 | $56840682 |
| Net realized gain (loss) | 6509208 | 4430537 | 5446820 | (5915020) |
| Change in net unrealized appreciation (depreciation) | 1270744 | 6757929 | 2331942 | 64965936 |
| Net increase (decrease) in net assets resulting from operations | 35603763 | 74017647 | 39625757 | 115891598 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (6676334) | (15714917) | (2647429) | (5514783) |
| &nbsp;&nbsp;&nbsp;I Class | (3399843) | (7050886) | (5005467) | (10258413) |
| &nbsp;&nbsp;&nbsp;Y Class |  |  | (198531) | (391979) |
| &nbsp;&nbsp;&nbsp;A Class | (349331) | (838930) | (275274) | (940885) |
| &nbsp;&nbsp;&nbsp;C Class | (42672) | (80960) | (14452) | (46449) |
| &nbsp;&nbsp;&nbsp;R Class | (13934) | (27168) | (129660) | (314014) |
| &nbsp;&nbsp;&nbsp;R5 Class | (257646) | (530193) | (1250733) | (2555797) |
| &nbsp;&nbsp;&nbsp;R6 Class | (1766628) | (3591635) | (712537) | (1093835) |
| &nbsp;&nbsp;&nbsp;G Class | (15637324) | (35436155) | (8753044) | (19598750) |
| Decrease in net assets from distributions | (28143712) | (63270844) | (18987127) | (40714905) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (44274460) | (227678996) | (44421193) | (404053996) |
| **Net increase (decrease) in net assets** | (36814409) | (216932193) | (23782563) | (328877303) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1141759014 | 1358691207 | 1508407007 | 1837284310 |
| End of period | $1104944605 | $1141759014 | $1484624444 | $1508407007 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | **SIX MONTHS ENDED SEPTEMBER 30, 2025 (UNAUDITED) AND YEAR ENDED MARCH 31, 2025** | | |
| | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** |
| **Increase (Decrease) in Net Assets** | **September 30, 2025** | **March 31, 2025** | **September 30, 2025** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $18523926 | $32944988 | $15887663 | $36803905 |
| Net realized gain (loss) | 3645593 | 1128725 | 3547 | 74399 |
| Change in net unrealized appreciation (depreciation) | 2281064 | 5327301 |  |  |
| Net increase (decrease) in net assets resulting from operations | 24450583 | 39401014 | 15891210 | 36878304 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (3577302) | (7763645) | (14558860) | (33911724) |
| &nbsp;&nbsp;&nbsp;I Class | (13985328) | (23577004) |  |  |
| &nbsp;&nbsp;&nbsp;Y Class | (24466) | (31547) |  |  |
| &nbsp;&nbsp;&nbsp;A Class | (411452) | (888987) | (1324964) | (2881474) |
| &nbsp;&nbsp;&nbsp;C Class | (57227) | (101480) | (3838) | (10707) |
| &nbsp;&nbsp;&nbsp;R Class | (17134) | (43487) |  |  |
| &nbsp;&nbsp;&nbsp;R5 Class | (5182) | (10595) |  |  |
| &nbsp;&nbsp;&nbsp;R6 Class | (418759) | (733985) |  |  |
| Decrease in net assets from distributions | (18496850) | (33150730) | (15887662) | (36803905) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 57830155 | 84653161 | 185382140 | 74635634 |
| **Net increase (decrease) in net assets** | 63783888 | 90903445 | 185385688 | 74710033 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 701792579 | 610889134 | 720479368 | 645769335 |
| End of period | $765576467 | $701792579 | $905865056 | $720479368 |

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See Notes to Financial Statements.

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Notes to Financial Statements

**SEPTEMBER 30, 2025 (UNAUDITED)**

**1. Organization**

American Century Investment Trust (the trust) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Massachusetts business trust. The financial statements herein relate to the following funds and the respective share classes offered by the trust.

---

| | |
|:---|:---|
| Core Plus Fund | Investor, I, A, C, R, R5, G |
| Diversified Bond Fund | Investor, I, Y, A, C, R, R5, R6, G |
| High Income Fund | Investor, I, Y, A, R5, R6, G |
| High-Yield Fund | Investor, I, Y, A, C, R, R5, R6 |
| Multisector Income Fund | Investor, I, Y, A, C, R, R5, R6 |
| Prime Money Market Fund | Investor, A, C |
| Short Duration Fund | Investor, I, A, C, R, R5, R6, G |
| Short Duration Inflation Protection Bond Fund | Investor, I, Y, A, C, R, R5, R6, G |
| Short Duration Strategic Income Fund | Investor, I, Y, A, C, R, R5, R6 |
| U.S. Government Money Market Fund | Investor, A, C |

---

Each fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the funds serves as the chief operating decision maker (CODM). A fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the funds in preparation of their financial statements. Each fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

**Investment Valuations —** Each fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of a fund's investments is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, bank loan obligations, municipal securities, convertible bonds and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections. Commercial paper and certificates of deposit are valued using a curve-based approach that considers money market rates for specific instruments, programs, currencies and maturity points from a variety of active market makers.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred securities and convertible preferred securities with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service.

------

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause a fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

**Fair Value Measurements —** The investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by a fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

• Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

• Level 3 valuation inputs consist of unobservable data (including a fund's own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments. The Schedule of Investments provides additional information on a fund's level classifications.

**Foreign Currency Translations —** All assets and liabilities, including investment securities and other financial instruments, initially expressed in foreign currencies are translated into U.S. dollars each day at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service. A fund may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

**Security Transactions —** Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes.

**Investment Income —** Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes paydown gain (loss) and accretion of discounts and amortization of premiums. Inflation adjustments related to inflation-linked debt securities are reflected as interest income. For convertible bonds, the premiums attributable only to the debt instrument are amortized. A fund may purchase a security and at the same time make a commitment to sell the same security at a future settlement date at a specified price. The difference between the purchase price and the sale price of these simultaneous transactions is reflected as interest income. Dividend income less foreign taxes withheld, if any, is recorded as of the ex-dividend date. Distributions received on securities that represent a return of capital or long-term capital gain are recorded as a reduction of cost of investments and/or as a realized gain. A fund may estimate the components of distributions received that may be considered nontaxable distributions or long-term capital gain distributions for income tax purposes. Securities lending income is net of fees and rebates earned by the lending agent for its services.

**Forward Commitments —** A fund may engage in securities transactions on a forward commitment basis. In these transactions, the securities' prices and yields are fixed on the date of the commitment. A fund may sell a to-be-announced (TBA) security and at the same time make a commitment to purchase the same security at a future date at a specified price. Conversely, a fund may purchase a TBA security and at the same time make a commitment to sell the same security at a future date at a specified price. These types of transactions are known as "TBA roll" transactions and are accounted for as purchases and sales. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet the purchase price.

**Repurchase Agreements —** A fund may enter into repurchase agreements with institutions that ACIM has determined are creditworthy pursuant to criteria adopted by the Board of Trustees. A fund requires that the collateral, represented by securities, received in a repurchase transaction be transferred to the custodian in a manner sufficient to enable the fund to obtain those securities in the event of a default under the repurchase agreement. ACIM monitors, on a daily basis, the securities transferred to ensure the value, including accrued interest, of the securities under each repurchase agreement is equal to or greater than amounts owed to a fund under each repurchase agreement.

**Joint Trading Account —** Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, a fund may transfer uninvested cash balances into a joint trading account with certain other funds in the American Century Investments family of funds. These balances are invested in one or more repurchase agreements that are collateralized by U.S. Treasury or Agency obligations.

------

**Income Tax Status —** It is each fund's policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. A fund files U.S. federal, state, local and non-U.S. tax returns as applicable. A fund's tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

**Multiple Class —** All shares of a fund represent an equal pro rata interest in the net assets of the class to which such shares belong, and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except for class specific expenses and exclusive rights to vote on matters affecting only individual classes. Income, non-class specific expenses, and realized and unrealized capital gains and losses of a fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions to shareholders are recorded on the ex-dividend date in a manner consistent with provisions of the 1940 Act. A fund may elect to treat a portion of its payment to a redeeming shareholder, which represents the pro rata share of undistributed net investment income and net realized gains, as a distribution for federal income tax purposes (tax equalization). Distributions from net realized gains, if any, are generally declared and paid annually. Distributions from net investment income, if any, are generally declared and paid as follows:

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| | | |
|:---|:---|:---|
| | **Distribution Frequency** | **Distribution Frequency** |
| | **Declared** | **Paid** |
| Core Plus Fund | Daily | Monthly |
| Diversified Bond Fund | Daily | Monthly |
| High Income Fund | Daily | Monthly |
| High-Yield Fund | Daily | Monthly |
| Multisector Income Fund | Daily | Monthly |
| Prime Money Market Fund | Daily | Monthly |
| Short Duration Fund | Daily | Monthly |
| Short Duration Inflation Protection Bond Fund | Quarterly\* | Quarterly\* |
| Short Duration Strategic Income Fund | Daily | Monthly |
| U.S. Government Money Market Fund | Daily | Monthly |

---

\*Distributions from net investment income may be paid less frequently.

**Indemnifications —** Under the trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to a fund. In addition, in the normal course of business, a fund may enter into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

**Securities Lending —** Securities are lent to qualified financial institutions and brokers. State Street Bank & Trust Co. serves as securities lending agent to the funds pursuant to a Securities Lending Agreement. The lending of securities exposes a fund to risks such as: the borrowers may fail to return the loaned securities, the borrowers may not be able to provide additional collateral, a fund may experience delays in recovery of the loaned securities or delays in access to collateral, or a fund may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge collateral in the form of cash and/or securities. The lending agent has agreed to indemnify the funds in the case of default of any securities borrowed. Cash collateral received is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, a money market mutual fund registered under the 1940 Act. The loans may also be secured by U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. By lending securities, a fund seeks to increase its net investment income through the receipt of interest and fees. Such income is reflected separately within the Statement of Operations. The value of loaned securities and related collateral outstanding at period end, if any, are shown on a gross basis within the Schedule of Investments and Statement of Assets and Liabilities, and the remaining contractual maturities of any securities lending transactions are considered overnight and continuous.

**3. Fees and Transactions with Related Parties**

Certain officers and trustees of the trust are also officers and/or directors of American Century Companies, Inc. (ACC). The trust's investment advisor, ACIM, the trust's distributor, American Century Investment Services, Inc. (ACIS), and the trust's transfer agent, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC.

ACIM has engaged Nomura Corporate Research and Asset Management Inc. (NCRAM) to serve as a subadvisor for High Income Fund and to manage the fund's assets. NCRAM is responsible for the day-to-day management of High Income Fund, subject to the general supervision of the Board of Trustees and the investment advisor and in accordance with the investment objective, policies and restrictions of the fund. ACIM pays all costs associated with retaining NCRAM as the subadvisor. A subsidiary of NCRAM's parent company indirectly owns a non-controlling equity interest in ACC.

**Management Fees —** The trust has entered into a management agreement with ACIM, under which ACIM provides each fund with investment advisory and management services in exchange for a single, unified management fee (the fee) per class. The agreement provides that ACIM will pay all expenses of managing and operating a fund, except brokerage expenses, taxes, interest, fees and expenses of the independent trustees (including legal counsel fees), extraordinary expenses, and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Rule 12b-1 under the 1940 Act. The fee is computed and accrued daily based on the daily net assets of each class and paid monthly in arrears. The difference

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in the fee among the classes is a result of their separate arrangements for non-Rule 12b-1 shareholder services. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of a fund's assets, which do not vary by class. The investment advisor agreed to waive the G Class's management fee in its entirety. The investment advisor expects this waiver to remain in effect permanently and cannot terminate it without the approval of the Board of Trustees.

The annual management fee including any waiver impacts, if applicable, are as follows:

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| | | |
|:---|:---|:---|
| **High Income Fund** | **Annual Management Fee** | **Management Fee Waived** |
| Investor Class | 0.775% |  |
| I Class | 0.675% |  |
| Y Class | 0.575% |  |
| A Class | 0.775% |  |
| R5 Class | 0.575% |  |
| R6 Class | 0.525% |  |
| G Class | 0.00%<sup>(1)</sup> | $2483956 |

---

(1)Annual management fee before waiver was 0.525%.

---

| | |
|:---|:---|
| **Multisector Income Fund** | **Annual Management Fee** |
| Investor Class | 0.55% |
| I Class | 0.45% |
| Y Class | 0.35% |
| A Class | 0.55% |
| C Class | 0.55% |
| R Class | 0.55% |
| R5 Class | 0.35% |
| R6 Class | 0.30% |

---

---

| | |
|:---|:---|
| **Short Duration Strategic Income Fund** | **Annual Management Fee** |
| Investor Class | 0.51% |
| I Class | 0.41% |
| Y Class | 0.31% |
| A Class | 0.51% |
| C Class | 0.51% |
| R Class | 0.51% |
| R5 Class | 0.31% |
| R6 Class | 0.26% |

---

For each fund with a stepped fee schedule, the fee consists of (1) an Investment Category Fee based on the daily net assets of the fund and certain other accounts managed by the investment advisor that are in the same broad investment category as the fund and (2) a Complex Fee based on the assets of all funds in the American Century Investments family of funds that have the same investment advisor and distributor as the fund. For purposes of determining the Investment Category Fee and Complex Fee, the assets of funds managed by the investment advisor that invest exclusively in the shares of other funds (funds of funds) are not included.

The Investment Category Fee range, the Complex Fee range and the effective annual management fee including any waiver impacts, if applicable, for the period ended September 30, 2025 are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Core Plus Fund** | **Investment Category**<br>**Fee Range** | **Complex**<br>**Fee Range** | **Effective Annual**<br>**Management Fee** | &nbsp;&nbsp;**Management Fee Waived** |
| Investor Class | 0.2425% to 0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| I Class | 0.2425% to 0.3600% | 0.1500% to 0.2100% | 0.44% |  |
| A Class | 0.2425% to 0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| C Class | 0.2425% to 0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| R Class | 0.2425% to 0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| R5 Class | 0.2425% to 0.3600% | 0.0500% to 0.1100% | 0.34% |  |
| G Class | 0.2425% to 0.3600% | 0.0500% to 0.1100% | 0.00%<sup>(1)</sup> | $9 |

---

(1)Effective annual management fee before waiver was 0.34%.

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Diversified Bond Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual<br>Management Fee** | **Management Fee Waived** |
| Investor Class | 0.2925% to <br>0.4100% | 0.2500% to 0.3100% | 0.59% |  |
| I Class | 0.2925% to <br>0.4100% | 0.0500% to 0.1100% | 0.39% |  |
| Y Class | 0.2925% to <br>0.4100% | 0.0200% to 0.0800% | 0.36% |  |
| A Class | 0.2925% to <br>0.4100% | 0.2500% to 0.3100% | 0.59% |  |
| C Class | 0.2925% to <br>0.4100% | 0.2500% to 0.3100% | 0.59% |  |
| R Class | 0.2925% to <br>0.4100% | 0.2500% to 0.3100% | 0.59% |  |
| R5 Class | 0.2925% to <br>0.4100% | 0.0500% to 0.1100% | 0.39% |  |
| R6 Class | 0.2925% to <br>0.4100% | 0.0000% to 0.0600% | 0.34% |  |
| G Class | 0.2925% to <br>0.4100% | 0.0000% to 0.0600% | 0.00%<sup>(1)</sup> | $6399683 |

---

(1)Effective annual management fee before waiver was 0.34%.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **High-Yield Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Annual Management Fee\*** | **Effective Annual Management Fee** |
| Investor Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.71% |
| I Class | 0.4725% to <br>0.5900% | 0.1500% to 0.2100% | 0.57% | 0.61% |
| Y Class | 0.4725% to <br>0.5900% | 0.0500% to 0.1100% | 0.47% | 0.51% |
| A Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.71% |
| C Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.71% |
| R Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.71% |
| R5 Class | 0.4725% to <br>0.5900% | 0.0500% to 0.1100% | 0.47% | 0.51% |
| R6 Class | 0.4725% to <br>0.5900% | 0.0000% to 0.0600% | 0.42% | 0.46% |

---

\*From April 1, 2025 through June 23, 2025, the fund calculated its fee based on a stepped fee schedule. Effective June 24, 2025, the fund's management fee was reduced and changed from a stepped fee schedule to a flat fee schedule.

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| | | | |
|:---|:---|:---|:---|
| **Prime Money Market Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual<br>Management Fee** |
| Investor Class | 0.2370% to <br>0.3500% |  | 0.57% |
| A Class | 0.2370% to <br>0.3500% | 0.2500% to 0.3100% | 0.57% |
| C Class | 0.2370% to <br>0.3500% |  | 0.57% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Duration Fund** | **Investment Category Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** | **Management Fee Waived** |
| Investor Class | 0.2625% to <br>0.3800%  | 0.2500% to 0.3100% | 0.56% |  |
| I Class | 0.2625% to <br>0.3800%  | 0.1500% to 0.2100% | 0.46% |  |
| A Class | 0.2625% to <br>0.3800%  | 0.2500% to 0.3100% | 0.56% |  |
| C Class | 0.2625% to <br>0.3800%  | 0.2500% to 0.3100% | 0.56% |  |
| R Class | 0.2625% to <br>0.3800%  | 0.2500% to 0.3100% | 0.56% |  |
| R5 Class | 0.2625% to <br>0.3800%  | 0.0500% to 0.1100% | 0.36% |  |
| R6 Class | 0.2625% to <br>0.3800%  | 0.0000% to 0.0600% | 0.31% |  |
| G Class | 0.2625% to <br>0.3800%  | 0.0000% to 0.0600% | 0.00%<sup>(1)</sup> | $940708 |

---

(1)Effective annual management fee before waiver was 0.31%.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short Duration Inflation Protection Bond Fund** | **Investment Category** <br>**Fee Range** | **Complex Fee Range** | **Effective Annual**<br>**Management Fee** | **Management Fee Waived** |
| Investor Class | 0.2625% to <br>0.3800% | 0.2500% to 0.3100% | 0.56% |  |
| I Class | 0.2625% to <br>0.3800% | 0.1500% to 0.2100% | 0.46% |  |
| Y Class | 0.2625% to <br>0.3800% | 0.0500% to 0.1100% | 0.36% |  |
| A Class | 0.2625% to <br>0.3800% | 0.2500% to 0.3100% | 0.56% |  |
| C Class | 0.2625% to <br>0.3800% | 0.2500% to 0.3100% | 0.56% |  |
| R Class | 0.2625% to <br>0.3800% | 0.2500% to 0.3100% | 0.56% |  |
| R5 Class | 0.2625% to <br>0.3800% | 0.0500% to 0.1100% | 0.36% |  |
| R6 Class | 0.2625% to <br>0.3800% | 0.0000% to 0.0600% | 0.31% |  |
| G Class | 0.2625% to <br>0.3800% | 0.0000% to 0.0600% | 0.00%<sup>(1)</sup> | $981989 |

---

(1)Effective annual management fee before waiver was 0.31%.

------

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government Money Market Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual<br>Management Fee** |
| Investor Class | 0.1170% to 0.2300% |  | 0.45% |
| A Class | 0.1170% to 0.2300% | 0.2500% to 0.3100% | 0.45% |
| C Class | 0.1170% to 0.2300% |  | 0.45% |

---

**Distribution and Service Fees —** The Board of Trustees has adopted a separate Master Distribution and Individual Shareholder Services Plan for each of the A Class, C Class and R Class (collectively the plans), pursuant to Rule 12b-1 of the 1940 Act. The plans provide that the A Class will pay ACIS an annual distribution and service fee of 0.25%. The plans provide that the C Class will pay ACIS an annual distribution and service fee of 1.00%, of which 0.25% is paid for individual shareholder services and 0.75% is paid for distribution services. The plans provide that the R Class will pay ACIS an annual distribution and service fee of 0.50%. The fees are computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The fees are used to pay financial intermediaries for distribution and individual shareholder services. Fees incurred under the plans during the period ended September 30, 2025 are detailed in the Statement of Operations.

**Trustees' Fees and Expenses —** The Board of Trustees is responsible for overseeing the investment advisor's management and operations of the funds. The trustees receive detailed information about the funds and their investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The funds' officers do not receive compensation from the funds.

**Other Expenses —** A fund's other expenses may include interest charges, clearing exchange fees, proxy solicitation expenses, fees associated with the recovery of foreign tax reclaims and other miscellaneous expenses.

**Related Party Ownership —** A related party, including other funds advised by American Century Investments, may own outstanding shares of a fund. Related parties do not invest in a fund for the purpose of exercising management or control. As of period end, related parties with ownership of 5% or more of the outstanding shares of a fund are as follows:

---

| | | |
|:---|:---|:---|
| | **Related Party** | **% of Outstanding Shares** |
| Core Plus Fund | American Century Asset Allocation Portfolios, Inc. | 81% |
| Diversified Bond Fund | American Century Asset Allocation Portfolios, Inc. | 39% |
| High Income Fund | American Century Asset Allocation Portfolios, Inc. | 24% |
| Short Duration Fund | American Century Asset Allocation Portfolios, Inc. | 48% |
| Short Duration Inflation Protection Bond Fund | American Century Asset Allocation Portfolios, Inc. | 30% |
| U.S. Government Money Market Fund | American Century Companies, Inc. (ACC) | 6% |
|  | American Century Investment Services, Inc. (ACIS) | 19% |
|  | American Century Investment Management, Inc. (ACIM) | 25% |

---

**Interfund Transactions —** A fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Trustees. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. There were no interfund transactions during the period.

**4. Investment Transactions**

Investment transactions, excluding short-term investments, for the period ended September 30, 2025 were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Core Plus Fund** | **Diversified Bond Fund** | **High Income Fund** | **High-Yield Fund** |
| Purchases of U.S. Treasury and Government Agency obligations | $293896265 | $3768841904 |  |  |
| Purchases of other investment securities | 130125462 | 1276895187 | $463326992 | $63790394 |
| Total Purchases | $424021727 | $5045737091 | $463326992 | $63790394 |
| Sales of U.S. Treasury and Government Agency obligations | $271657498 | $4009355611 |  |  |
| Sales of other investment securities | 158051936 | 1726384654 | $503066024 | $63221580 |
| Total Sales | $429709434 | $5735740265 | $503066024 | $63221580 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Multisector<br>Income Fund** | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration<br>Strategic Income Fund** |
| Purchases of U.S. Treasury and Government Agency obligations | $20922260 | $531568823 | $399045609 | $272829457 |
| Purchases of other investment securities | 63152398 | 472251508 | 118269031 | 504385274 |
| Total Purchases | $84074658 | $1003820331 | $517314640 | $777214731 |
| Sales of U.S. Treasury and Government Agency obligations | $22803377 | $515748796 | $493850434 | $328812081 |
| Sales of other investment securities | 58058013 | 597130351 | 90429521 | 366455617 |
| Total Sales | $80861390 | $1112879147 | $584279955 | $695267698 |

---

**5. Capital Share Transactions** 

Transactions in shares of the funds were as follows (unlimited number of shares authorized):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Core Plus Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 488752 | $4490204 | 5068107 | $46939731 |
| Issued in reinvestment of distributions | 1005304 | 9234613 | 2002234 | 18382288 |
| Redeemed | (2086424) | (19052000) | (2946718) | (27026785) |
|  | (592368) | (5327183) | 4123623 | 38295234 |
| **I Class** |  |  |  |  |
| Sold | 30152 | 277129 | 696391 | 6403666 |
| Issued in reinvestment of distributions | 36243 | 332749 | 66238 | 607332 |
| Redeemed | (391256) | (3572908) | (795605) | (7269229) |
|  | (324861) | (2963030) | (32976) | (258231) |
| **A Class** |  |  |  |  |
| Sold | 92828 | 853221 | 144060 | 1327176 |
| Issued in reinvestment of distributions | 27386 | 251554 | 58865 | 540411 |
| Redeemed | (137527) | (1257234) | (294996) | (2715422) |
|  | (17313) | (152459) | (92071) | (847835) |
| **C Class** |  |  |  |  |
| Sold | 7753 | 71250 | 20059 | 186690 |
| Issued in reinvestment of distributions | 988 | 9073 | 2122 | 19494 |
| Redeemed | (6118) | (56091) | (18220) | (168448) |
|  | 2623 | 24232 | 3961 | 37736 |
| **R Class** |  |  |  |  |
| Sold | 48128 | 442132 | 33946 | 311035 |
| Issued in reinvestment of distributions | 2433 | 22358 | 4225 | 38811 |
| Redeemed | (20317) | (188200) | (25263) | (232879) |
|  | 30244 | 276290 | 12908 | 116967 |
| **R5 Class** |  |  |  |  |
| Sold | 69794 | 636038 | 110942 | 1014764 |
| Issued in reinvestment of distributions | 7993 | 73342 | 14953 | 137265 |
| Redeemed | (247117) | (2269356) | (72802) | (667385) |
|  | (169330) | (1559976) | 53093 | 484644 |
| **G Class** |  |  |  |  |
| Issued in reinvestment of distributions | 15 | 131 | 28 | 259 |
| Net increase (decrease) | (1070990) | $(9701995) | 4068566 | $37828774 |

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------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Diversified Bond Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 1955430 | $17873701 | 6300099 | $57945651 |
| Issued in reinvestment of distributions | 1279812 | 11735297 | 2712095 | 24837004 |
| Redeemed | (4670462) | (42772351) | (12158694) | (111387732) |
|  | (1435220) | (13163353) | (3146500) | (28605077) |
| **I Class** |  |  |  |  |
| Sold | 11175930 | 102275415 | 27448003 | 252155518 |
| Issued in reinvestment of distributions | 1576705 | 14470857 | 3469568 | 31797360 |
| Redeemed | (15723865) | (143832622) | (34740962) | (317915538) |
|  | (2971230) | (27086350) | (3823391) | (33962660) |
| **Y Class** |  |  |  |  |
| Sold | 3150086 | 28762039 | 9019579 | 82496000 |
| Issued in reinvestment of distributions | 562783 | 5166840 | 1048304 | 9611007 |
| Redeemed | (2256240) | (20640002) | (4978168) | (45681572) |
|  | 1456629 | 13288877 | 5089715 | 46425435 |
| **A Class** |  |  |  |  |
| Sold | 280653 | 2562813 | 928499 | 8573333 |
| Issued in reinvestment of distributions | 92127 | 844892 | 245372 | 2248674 |
| Redeemed | (664882) | (6049489) | (3586793) | (33176949) |
|  | (292102) | (2641784) | (2412922) | (22354942) |
| **C Class** |  |  |  |  |
| Sold | 9849 | 89544 | 96140 | 885774 |
| Issued in reinvestment of distributions | 7267 | 66599 | 23167 | 211964 |
| Redeemed | (103460) | (944392) | (500889) | (4654713) |
|  | (86344) | (788249) | (381582) | (3556975) |
| **R Class** |  |  |  |  |
| Sold | 73842 | 673126 | 130433 | 1189959 |
| Issued in reinvestment of distributions | 8905 | 81661 | 17373 | 159143 |
| Redeemed | (61493) | (562542) | (162344) | (1491551) |
|  | 21254 | 192245 | (14538) | (142449) |
| **R5 Class** |  |  |  |  |
| Issued in reinvestment of distributions | 14 | 131 | 28 | 253 |
| **R6 Class** |  |  |  |  |
| Sold | 2152683 | 19680086 | 4585094 | 42030307 |
| Issued in reinvestment of distributions | 294343 | 2701773 | 645285 | 5906620 |
| Redeemed | (2754188) | (25161373) | (9072007) | (83042194) |
|  | (307162) | (2779514) | (3841628) | (35105267) |
| **G Class** |  |  |  |  |
| Sold | 30641003 | 278926087 | 49965015 | 458962655 |
| Issued in reinvestment of distributions | 10324646 | 94771131 | 23488647 | 215288134 |
| Redeemed | (97531107) | (901312802) | (152384856) | (1395091947) |
|  | (56565458) | (527615584) | (78931194) | (720841158) |
| Net increase (decrease) | (60179619) | $(560593581) | (87462012) | $(798142840) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **High Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 5906908 | $51393754 | 16820376 | $145387247 |
| Issued in reinvestment of distributions | 671088 | 5836977 | 1061940 | 9172966 |
| Redeemed | (5299376) | (45855125) | (12036577) | (104063632) |
|  | 1278620 | 11375606 | 5845739 | 50496581 |
| **I Class** |  |  |  |  |
| Sold | 3246387 | 28247022 | 17996607 | 155421055 |
| Issued in reinvestment of distributions | 561706 | 4881347 | 3535693 | 30537879 |
| Redeemed | (5693507) | (49014043) | (57377488) | (496253070) |
|  | (1885414) | (15885674) | (35845188) | (310294136) |
| **Y Class** |  |  |  |  |
| Sold | 5676707 | 49029988 | 11128867 | 95740435 |
| Issued in reinvestment of distributions | 841943 | 7322385 | 1607037 | 13855599 |
| Redeemed | (2661836) | (23196486) | (16284552) | (140570660) |
|  | 3856814 | 33155887 | (3548648) | (30974626) |
| **A Class** |  |  |  |  |
| Sold | 96582 | 840742 | 202031 | 1746453 |
| Issued in reinvestment of distributions | 19994 | 173981 | 35336 | 305233 |
| Redeemed | (27744) | (241432) | (108641) | (938019) |
|  | 88832 | 773291 | 128726 | 1113667 |
| **R5 Class** |  |  |  |  |
| Sold | 11583 | 101099 | 5748 | 49913 |
| Issued in reinvestment of distributions | 804 | 6998 | 1445 | 12470 |
| Redeemed | (1246) | (10462) | (10657) | (92424) |
|  | 11141 | 97635 | (3464) | (30041) |
| **R6 Class** |  |  |  |  |
| Sold | 9276750 | 80515368 | 19213217 | 166001013 |
| Issued in reinvestment of distributions | 1393271 | 12110497 | 1893139 | 16358976 |
| Redeemed | (6458120) | (56182447) | (4413411) | (38038623) |
|  | 4211901 | 36443418 | 16692945 | 144321366 |
| **G Class** |  |  |  |  |
| Sold | 4849198 | 42029422 | 10162399 | 88310355 |
| Issued in reinvestment of distributions | 4008506 | 34837987 | 8559487 | 73877258 |
| Redeemed | (22333053) | (196064348) | (33321718) | (288061176) |
|  | (13475349) | (119196939) | (14599832) | (125873563) |
| Net increase (decrease) | (5913455) | $(53236776) | (31329722) | $(271240752) |

---

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **High-Yield Fund** | | | | |
| **Investor Class** |  |  |  |  |
| Sold | 1236564 | $6341199 | 2689804 | $13669273 |
| Issued in reinvestment of distributions | 349787 | 1795299 | 699789 | 3553466 |
| Redeemed | (1790442) | (9100569) | (3590820) | (18219988) |
|  | (204091) | (964071) | (201227) | (997249) |
| **I Class** |  |  |  |  |
| Sold | 36290 | 188527 | 190736 | 968952 |
| Issued in reinvestment of distributions | 15059 | 77538 | 83485 | 424659 |
| Redeemed | (84744) | (434498) | (1623097) | (8270039) |
|  | (33395) | (168433) | (1348876) | (6876428) |
| **Y Class** |  |  |  |  |
| Issued in reinvestment of distributions | 161 | 828 | 361 | 1836 |
| Redeemed | (335) | (1701) | (8445) | (41998) |
|  | (174) | (873) | (8084) | (40162) |
| **A Class** |  |  |  |  |
| Sold | 200766 | 1029998 | 243518 | 1233435 |
| Issued in reinvestment of distributions | 41388 | 212673 | 82504 | 419275 |
| Redeemed | (122454) | (619964) | (439141) | (2224829) |
|  | 119700 | 622707 | (113119) | (572119) |
| **C Class** |  |  |  |  |
| Sold | 8337 | 42432 | 92730 | 468497 |
| Issued in reinvestment of distributions | 3324 | 17068 | 5883 | 29938 |
| Redeemed | (36719) | (186412) | (25862) | (131992) |
|  | (25058) | (126912) | 72751 | 366443 |
| **R Class** |  |  |  |  |
| Sold | 39794 | 203124 | 91193 | 461868 |
| Issued in reinvestment of distributions | 7722 | 39661 | 14560 | 73974 |
| Redeemed | (38813) | (198606) | (96842) | (493522) |
|  | 8703 | 44179 | 8911 | 42320 |
| **R5 Class** |  |  |  |  |
| Sold | 79 | 406 | 887 | 4500 |
| Issued in reinvestment of distributions | 342 | 1760 | 752 | 3821 |
| Redeemed | (35) | (182) | (4909) | (24806) |
|  | 386 | 1984 | (3270) | (16485) |
| **R6 Class** |  |  |  |  |
| Sold | 6910 | 35239 | 13230 | 67365 |
| Issued in reinvestment of distributions | 1370 | 7011 | 3912 | 19797 |
| Redeemed | (29840) | (153035) | (76415) | (384628) |
|  | (21560) | (110785) | (59273) | (297466) |
| Net increase (decrease) | (155489) | $(702204) | (1652187) | $(8391146) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Multisector Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 935907 | $8372695 | 2932599 | $26301152 |
| Issued in reinvestment of distributions | 157589 | 1414141 | 299152 | 2666174 |
| Redeemed | (869245) | (7780079) | (2692754) | (24039418) |
|  | 224251 | 2006757 | 538997 | 4927908 |
| **I Class** |  |  |  |  |
| Sold | 212757 | 1905715 | 1207734 | 10844307 |
| Issued in reinvestment of distributions | 73027 | 655049 | 228700 | 2036131 |
| Redeemed | (279841) | (2493708) | (3352257) | (29967373) |
|  | 5943 | 67056 | (1915823) | (17086935) |
| **Y Class** |  |  |  |  |
| Issued in reinvestment of distributions | 21 | 190 | 43 | 383 |
| **A Class** |  |  |  |  |
| Sold | 136433 | 1217880 | 284973 | 2541913 |
| Issued in reinvestment of distributions | 12832 | 115163 | 25791 | 229945 |
| Redeemed | (40791) | (362500) | (144165) | (1287697) |
|  | 108474 | 970543 | 166599 | 1484161 |
| **C Class** |  |  |  |  |
| Sold | 625 | 5523 | 13958 | 126104 |
| Issued in reinvestment of distributions | 1202 | 10778 | 2762 | 24592 |
| Redeemed | (18341) | (164497) | (19843) | (175581) |
|  | (16514) | (148196) | (3123) | (24885) |
| **R Class** |  |  |  |  |
| Sold | 14878 | 132994 | 53338 | 477487 |
| Issued in reinvestment of distributions | 2418 | 21680 | 5342 | 47665 |
| Redeemed | (74492) | (667741) | (16889) | (150656) |
|  | (57196) | (513067) | 41791 | 374496 |
| **R5 Class** |  |  |  |  |
| Sold | 3473 | 31128 | 50692 | 449927 |
| Issued in reinvestment of distributions | 2644 | 23729 | 5498 | 49012 |
| Redeemed | (22155) | (197759) | (11926) | (107341) |
|  | (16038) | (142902) | 44264 | 391598 |
| **R6 Class** |  |  |  |  |
| Sold | 539617 | 4817782 | 1220120 | 10893175 |
| Issued in reinvestment of distributions | 66246 | 594274 | 107786 | 960895 |
| Redeemed | (507736) | (4538054) | (624976) | (5578146) |
|  | 98127 | 874002 | 702930 | 6275924 |
| Net increase (decrease) | 347068 | $3114383 | (424322) | $(3657350) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Prime Money Market Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 606433539 | $606433539 | 1220264858 | $1220264858 |
| Issued in reinvestment of distributions | 46973399 | 46973399 | 99264300 | 99264300 |
| Redeemed | (589274445) | (589274445) | (1031082077) | (1031082077) |
|  | 64132493 | 64132493 | 288447081 | 288447081 |
| **A Class** |  |  |  |  |
| Sold | 8723125 | 8723125 | 15852267 | 15852267 |
| Issued in reinvestment of distributions | 557428 | 557428 | 1219054 | 1219054 |
| Redeemed | (11833783) | (11833783) | (11026072) | (11026072) |
|  | (2553230) | (2553230) | 6045249 | 6045249 |
| **C Class** |  |  |  |  |
| Sold | 43723 | 43723 | 572567 | 572567 |
| Issued in reinvestment of distributions | 19675 | 19675 | 44038 | 44038 |
| Redeemed | (264984) | (264984) | (473149) | (473149) |
|  | (201586) | (201586) | 143456 | 143456 |
| Net increase (decrease) | 61377677 | $61377677 | 294635786 | $294635786 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Short Duration Fund** | | | | |
| **Investor Class** |  |  |  |  |
| Sold | 1157313 | $11383779 | 2393358 | $23425108 |
| Issued in reinvestment of distributions | 664861 | 6545146 | 1577864 | 15435473 |
| Redeemed | (1736697) | (17074337) | (11784235) | (115433577) |
|  | 85477 | 854588 | (7813013) | (76572996) |
| **I Class** |  |  |  |  |
| Sold | 3544882 | 34870575 | 5042531 | 49346094 |
| Issued in reinvestment of distributions | 325362 | 3202708 | 673004 | 6582833 |
| Redeemed | (2740237) | (26915752) | (8230397) | (80286375) |
|  | 1130007 | 11157531 | (2514862) | (24357448) |
| **A Class** |  |  |  |  |
| Sold | 106886 | 1049561 | 324456 | 3172057 |
| Issued in reinvestment of distributions | 26492 | 260716 | 63621 | 622080 |
| Redeemed | (347264) | (3412505) | (795750) | (7805687) |
|  | (213886) | (2102228) | (407673) | (4011550) |
| **C Class** |  |  |  |  |
| Sold | 14325 | 140710 | 177493 | 1735001 |
| Issued in reinvestment of distributions | 3675 | 36189 | 7209 | 70599 |
| Redeemed | (27693) | (271863) | (101398) | (990931) |
|  | (9693) | (94964) | 83304 | 814669 |
| **R Class** |  |  |  |  |
| Sold | 11265 | 110532 | 38917 | 381361 |
| Issued in reinvestment of distributions | 1412 | 13905 | 2711 | 26547 |
| Redeemed | (6010) | (59150) | (48631) | (474546) |
|  | 6667 | 65287 | (7003) | (66638) |
| **R5 Class** |  |  |  |  |
| Sold | 89415 | 878933 | 270608 | 2649119 |
| Issued in reinvestment of distributions | 26177 | 257646 | 54158 | 529605 |
| Redeemed | (160304) | (1577255) | (415014) | (4065531) |
|  | (44712) | (440676) | (90248) | (886807) |
| **R6 Class** |  |  |  |  |
| Sold | 890280 | 8751769 | 1875664 | 18417300 |
| Issued in reinvestment of distributions | 178560 | 1756037 | 367048 | 3587567 |
| Redeemed | (683619) | (6711741) | (2357628) | (23088801) |
|  | 385221 | 3796065 | (114916) | (1083934) |
| **G Class** |  |  |  |  |
| Sold | 2820001 | 27693766 | 3249077 | 31814266 |
| Issued in reinvestment of distributions | 1589542 | 15637324 | 3625575 | 35436155 |
| Redeemed | (10226316) | (100841153) | (19319050) | (188764713) |
|  | (5816773) | (57510063) | (12444398) | (121514292) |
| Net increase (decrease) | (4477692) | $(44274460) | (23308809) | $(227678996) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Short Duration Inflation Protection Bond Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 2906760 | $30570444 | 2896019 | $29689842 |
| Issued in reinvestment of distributions | 252168 | 2640195 | 539776 | 5505446 |
| Redeemed | (3582862) | (37801720) | (17117409) | (177083582) |
|  | (423934) | (4591081) | (13681614) | (141888294) |
| **I Class** |  |  |  |  |
| Sold | 7057577 | 75131373 | 8118588 | 84299892 |
| Issued in reinvestment of distributions | 436523 | 4614047 | 923285 | 9499850 |
| Redeemed | (8077937) | (86000288) | (21406843) | (221866721) |
|  | (583837) | (6254868) | (12364970) | (128066979) |
| **Y Class** |  |  |  |  |
| Sold | 941905 | 10075803 | 342228 | 3549881 |
| Issued in reinvestment of distributions | 18782 | 198531 | 38062 | 391979 |
| Redeemed | (114870) | (1225636) | (380379) | (3956066) |
|  | 845817 | 9048698 | (89) | (14206) |
| **A Class** |  |  |  |  |
| Sold | 321959 | 3363899 | 915634 | 9284030 |
| Issued in reinvestment of distributions | 17794 | 184172 | 38703 | 390127 |
| Redeemed | (335624) | (3503118) | (3075392) | (31131389) |
|  | 4129 | 44953 | (2121055) | (21457232) |
| **C Class** |  |  |  |  |
| Sold | 18895 | 188952 | 13881 | 135905 |
| Issued in reinvestment of distributions | 1209 | 11982 | 4069 | 39312 |
| Redeemed | (50697) | (505233) | (181206) | (1754301) |
|  | (30593) | (304299) | (163256) | (1579084) |
| **R Class** |  |  |  |  |
| Sold | 220004 | 2342591 | 412851 | 4310391 |
| Issued in reinvestment of distributions | 12125 | 128409 | 30198 | 311339 |
| Redeemed | (184358) | (1962435) | (705225) | (7308279) |
|  | 47771 | 508565 | (262176) | (2686549) |
| **R5 Class** |  |  |  |  |
| Sold | 875462 | 9322451 | 1077881 | 11196278 |
| Issued in reinvestment of distributions | 118441 | 1250733 | 247749 | 2549062 |
| Redeemed | (1186358) | (12622093) | (2275158) | (23741850) |
|  | (192455) | (2048909) | (949528) | (9996510) |
| **R6 Class** |  |  |  |  |
| Sold | 2461342 | 26208562 | 2495827 | 25977332 |
| Issued in reinvestment of distributions | 65080 | 687243 | 101427 | 1043529 |
| Redeemed | (947723) | (10095274) | (1632162) | (16942465) |
|  | 1578699 | 16800531 | 965092 | 10078396 |
| **G Class** |  |  |  |  |
| Sold | 4936115 | 52723287 | 6532841 | 68522617 |
| Issued in reinvestment of distributions | 828103 | 8753044 | 1903182 | 19598750 |
| Redeemed | (11095702) | (119101114) | (18926937) | (196564905) |
|  | (5331484) | (57624783) | (10490914) | (108443538) |
| Net increase (decrease) | (4085887) | $(44421193) | (39068510) | $(404053996) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Short Duration Strategic Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 2505355 | $22553863 | 5914775 | $53018815 |
| Issued in reinvestment of distributions | 389440 | 3515960 | 854672 | 7659550 |
| Redeemed | (2898845) | (26076865) | (7298228) | (65495331) |
|  | (4050) | (7042) | (528781) | (4816966) |
| **I Class** |  |  |  |  |
| Sold | 18720741 | 168347728 | 23843170 | 213693338 |
| Issued in reinvestment of distributions | 1549759 | 13984143 | 2631091 | 23576225 |
| Redeemed | (14282219) | (128741041) | (16380716) | (146586322) |
|  | 5988281 | 53590830 | 10093545 | 90683241 |
| **Y Class** |  |  |  |  |
| Sold | 46096 | 414546 | 33942 | 305466 |
| Issued in reinvestment of distributions | 2710 | 24466 | 3510 | 31464 |
| Redeemed | (2373) | (21387) | (15356) | (137064) |
|  | 46433 | 417625 | 22096 | 199866 |
| **A Class** |  |  |  |  |
| Sold | 396950 | 3581927 | 490408 | 4409389 |
| Issued in reinvestment of distributions | 45560 | 411222 | 98893 | 885654 |
| Redeemed | (180816) | (1627917) | (1143111) | (10254624) |
|  | 261694 | 2365232 | (553810) | (4959581) |
| **C Class** |  |  |  |  |
| Sold | 56220 | 505478 | 100003 | 896514 |
| Issued in reinvestment of distributions | 6282 | 56694 | 11145 | 99894 |
| Redeemed | (39742) | (357969) | (66379) | (592401) |
|  | 22760 | 204203 | 44769 | 404007 |
| **R Class** |  |  |  |  |
| Sold | 16863 | 151820 | 65671 | 588957 |
| Issued in reinvestment of distributions | 1874 | 16931 | 4766 | 42730 |
| Redeemed | (26304) | (238006) | (87017) | (784153) |
|  | (7567) | (69255) | (16580) | (152466) |
| **R5 Class** |  |  |  |  |
| Sold | 214 | 1933 | 3407 | 30529 |
| Issued in reinvestment of distributions | 574 | 5182 | 1172 | 10498 |
| Redeemed | (563) | (5079) | (7699) | (68788) |
|  | 225 | 2036 | (3120) | (27761) |
| **R6 Class** |  |  |  |  |
| Sold | 701042 | 6302090 | 950522 | 8504077 |
| Issued in reinvestment of distributions | 46194 | 417165 | 81637 | 732346 |
| Redeemed | (599272) | (5392729) | (659594) | (5913602) |
|  | 147964 | 1326526 | 372565 | 3322821 |
| Net increase (decrease) | 6455740 | $57830155 | 9430684 | $84653161 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended<br>September 30, 2025** | **Six months ended<br>September 30, 2025** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **U.S. Government Money Market Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 784200252 | $784200252 | 1568400359 | $1568400359 |
| Issued in reinvestment of distributions | 14482628 | 14482628 | 33738824 | 33738824 |
| Redeemed | (602736411) | (602736411) | (1537611516) | (1537611516) |
|  | 195946469 | 195946469 | 64527667 | 64527667 |
| **A Class** |  |  |  |  |
| Sold | 17104091 | 17104091 | 41262998 | 41262998 |
| Issued in reinvestment of distributions | 1324583 | 1324583 | 2881291 | 2881291 |
| Redeemed | (28962444) | (28962444) | (33995791) | (33995791) |
|  | (10533770) | (10533770) | 10148498 | 10148498 |
| **C Class** |  |  |  |  |
| Sold | 3856 | 3856 | 35090 | 35090 |
| Issued in reinvestment of distributions | 3566 | 3566 | 10613 | 10613 |
| Redeemed | (37981) | (37981) | (86234) | (86234) |
|  | (30559) | (30559) | (40531) | (40531) |
| Net increase (decrease) | 185382140 | $185382140 | 74635634 | $74635634 |

---

**6. Derivative Instruments**

A fund may invest in various types of derivative instruments as permitted by its investment objectives and policies. The following is a summary of the primary underlying risks and derivative strategies used during the period. The Schedule of Investments provides additional information on the value and effect of a fund's derivative instruments activity.

**Credit Risk —** The funds may be subject to credit risk in the normal course of pursuing their investment objectives. The value of a bond generally declines as the credit quality of its issuer declines. Credit default swap agreements enable a fund to buy/sell protection against a credit event of a specific issuer or index. A fund may attempt to enhance returns by selling protection or attempt to mitigate credit risk by buying protection. The buyer/seller of credit protection against a security or basket of securities may pay/receive an up-front or periodic payment to compensate for/against potential default events. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The risks of entering into swap agreements include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments. The average notional exposure to credit risk derivative instruments held during the period was as follows:

---

| | |
|:---|:---|
| Core Plus Fund | $11477000 |
| Diversified Bond Fund | $108645250 |
| Multisector Income Fund | $3640000 |
| Short Duration Fund | $12555333 |
| Short Duration Strategic Income Fund | $23373333 |

---

**Foreign Currency Risk —** The funds may be subject to foreign currency exchange rate risk in the normal course of pursuing their investment objectives. The value of foreign investments held by a fund may be significantly affected by changes in foreign currency exchange rates. The dollar value of a foreign security generally decreases when the value of the dollar rises against the foreign currency in which the security is denominated and tends to increase when the value of the dollar declines against such foreign currency. A fund may enter into forward foreign currency exchange contracts to reduce a fund's exposure to foreign currency exchange rate fluctuations or to gain exposure to the fluctuations in the value of foreign currencies. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. The net U.S. dollar value of foreign currency underlying all contractual commitments held by a fund and the resulting unrealized appreciation or depreciation are determined daily. Realized gain or loss is recorded upon settlement of the contract. Net realized and unrealized gains or losses occurring during the holding period of forward foreign currency exchange contracts are a component of net realized gain (loss) on forward foreign currency exchange contract transactions and change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts, respectively. A fund bears the risk of an unfavorable change in the foreign currency exchange rate underlying the forward contract. Additionally, losses, up to the fair value, may arise if the counterparties do not perform under the contract terms. The average U.S. dollar exposure to foreign currency risk derivative instruments held during the period was as follows:

------

---

| | |
|:---|:---|
| Core Plus Fund | $3358956 |
| Diversified Bond Fund | $13024313 |
| Multisector Income Fund | $140447 |
| Short Duration Inflation Protection Bond Fund | $25179077 |
| Short Duration Strategic Income Fund | $1299134 |

---

**Interest Rate Risk —** The funds may be subject to interest rate risk in the normal course of pursuing their investment objectives. The value of bonds generally declines as interest rates rise. A fund may enter into futures contracts based on a bond index or a specific underlying security. A fund may purchase futures contracts to gain exposure to increases in market value or sell futures contracts to protect against a decline in market value. Upon entering into a futures contract, a fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the contract value and is recorded as unrealized gains and losses. A fund recognizes a realized gain or loss when the futures contract is closed or expires. Net realized and unrealized gains or losses occurring during the holding period of futures contracts are a component of net realized gain (loss) on futures contract transactions and change in net unrealized appreciation (depreciation) on futures contracts, respectively. One of the risks of entering into futures contracts is the possibility that the change in value of the contract may not correlate with the changes in value of the underlying securities. The average notional exposure to interest rate risk derivative instruments held during the period was as follows:

---

| | | |
|:---|:---|:---|
| | **Futures Contracts**<br>**Purchased** | **Futures Contracts**<br>**Sold** |
| Core Plus Fund | $72265145 | $17629195 |
| Diversified Bond Fund | $603781314 | $234910992 |
| High-Yield Fund | $2204354 |  |
| Multisector Income Fund | $34773817 | $1745359 |
| Short Duration Fund | $84485318 | $17460809 |
| Short Duration Inflation Protection Bond Fund | $82576694 | $31259766 |
| Short Duration Strategic Income Fund | $115838304 | $7144680 |

---

**Other Contracts —** The funds may enter into total return swap agreements in order to attempt to obtain or preserve a particular return or spread at a lower cost than obtaining a return or spread through purchases and/or sales of instruments in other markets or gain exposure to certain markets in the most economical way possible. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The risks of entering into swap agreements include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments, including inflationary risk. The average notional exposure held during the period was as follows:

---

| | |
|:---|:---|
| Short Duration Inflation Protection Bond Fund | $380600000 |

---

**7. Risk Factors**

The overall risk profile of a fund will be impacted by the fund's investment strategy, including the investment vehicles and techniques utilized to manage a portfolio. The net asset value of a fund will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the fund and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of a fund's investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

**8. Federal Tax Information**

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

------

As of period end, the components of investments for federal income tax purposes were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Core Plus Fund** | **Diversified Bond Fund** | **High Income Fund** | **High-Yield Fund** | **Multisector Income Fund** |
| Federal tax cost of investments | $436961722 | $5039324761 | $1919448988 | $94169615 | $113537555 |
| Gross tax appreciation of investments | $6774193 | $70530306 | $59699508 | $1516804 | $1883376 |
| Gross tax depreciation of investments | (5498827) | (68791716) | (73656353) | (852259) | (1027534) |
| Net tax appreciation (depreciation) of investments | $1275366 | $1738590 | $(13956845) | $664545 | $855842 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Prime Money Market Fund** | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** |
| Federal tax cost of investments | $2522537052 | $1129101689 | $1514014060 | $774264144 | $902559151 |
| Gross tax appreciation of investments |  | $10487525 | $19510101 | $9108884 |  |
| Gross tax depreciation of investments |  | (7117689) | (7120788) | (5151079) |  |
| Net tax appreciation (depreciation) of investments |  | $3369836 | $12389313 | $3957805 |  |

---

The difference between book-basis and tax-basis unrealized appreciation (depreciation), if any, is attributable primarily to the tax deferral of losses on wash sales.

---

| | | |
|:---|:---|:---|
| As of March 31, 2025, the funds had accumulated capital losses which represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations. Capital loss carryovers were as follows: | As of March 31, 2025, the funds had accumulated capital losses which represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations. Capital loss carryovers were as follows: | As of March 31, 2025, the funds had accumulated capital losses which represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations. Capital loss carryovers were as follows: |
|  | **Short-term capital losses** | **Long-term capital losses** |
| Core Plus Fund | $(37312560) | $(54158674) |
| Diversified Bond Fund | $(490631599) | $(514096126) |
| High Income Fund | $(7428348) | $(118506221) |
| High-Yield Fund | $(5762367) | $(42370472) |
| Multisector Income Fund | $(4791295) | $(4645210) |
| Prime Money Market Fund | $(65931) | $(2656) |
| Short Duration Fund | $(43353769) | $(60162295) |
| Short Duration Inflation Protection Bond Fund | $(33025131) | $(38089859) |
| Short Duration Strategic Income Fund | $(28462207) | $(33323029) |
| U.S. Government Money Market Fund | $(131030) | $(5613) |

---

As of March 31, 2025, Short Duration Strategic Income Fund had post-October capital loss deferrals of $(19,798), which represent certain qualified losses that the fund has elected to treat as having been incurred in the following fiscal year for federal income tax purposes.

------

Financial Highlights

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset** <br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.18 | 0.22 | 0.11 | 0.33 | (0.22) |  | (0.22) | $9.29 | 3.63% | 0.55% | 4.73% | 4.73% | 96% | $401736 |
| 2025 | $9.17 | 0.44 | 0.02 | 0.46 | (0.45) |  | (0.45) | $9.18 | 5.12% | 0.55% | 4.82% | 4.82% | 132% | $402435 |
| 2024 | $9.45 | 0.40 | (0.28) | 0.12 | (0.40) |  | (0.40) | $9.17 | 1.37% | 0.55% | 4.38% | 4.38% | 150% | $364079 |
| 2023 | $10.44 | 0.32 | (0.99) | (0.67) | (0.32) |  | (0.32) | $9.45 | (6.42)% | 0.55% | 3.37% | 3.37% | 174% | $369558 |
| 2022 | $11.18 | 0.25 | (0.62) | (0.37) | (0.27) | (0.10) | (0.37) | $10.44 | (3.55)% | 0.54% | 2.20% | 2.20% | 238% | $448004 |
| 2021 | $10.78 | 0.23 | 0.44 | 0.67 | (0.27) |  | (0.27) | $11.18 | 6.17% | 0.58% | 2.01% | 1.98% | 285% | $383214 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.22 | 0.11 | 0.33 | (0.22) |  | (0.22) | $9.29 | 3.68% | 0.45% | 4.83% | 4.83% | 96% | $12151 |
| 2025 | $9.17 | 0.45 | 0.02 | 0.47 | (0.46) |  | (0.46) | $9.18 | 5.23% | 0.45% | 4.92% | 4.92% | 132% | $14991 |
| 2024 | $9.45 | 0.41 | (0.28) | 0.13 | (0.41) |  | (0.41) | $9.17 | 1.47% | 0.45% | 4.48% | 4.48% | 150% | $15273 |
| 2023 | $10.44 | 0.33 | (0.99) | (0.66) | (0.33) |  | (0.33) | $9.45 | (6.33)% | 0.45% | 3.47% | 3.47% | 174% | $22492 |
| 2022 | $11.18 | 0.26 | (0.62) | (0.36) | (0.28) | (0.10) | (0.38) | $10.44 | (3.45)% | 0.44% | 2.30% | 2.30% | 238% | $35057 |
| 2021 | $10.77 | 0.24 | 0.45 | 0.69 | (0.28) |  | (0.28) | $11.18 | 6.26% | 0.48% | 2.11% | 2.08% | 285% | $39729 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.21 | 0.11 | 0.32 | (0.21) |  | (0.21) | $9.29 | 3.50% | 0.80% | 4.48% | 4.48% | 96% | $11616 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.86% | 0.80% | 4.57% | 4.57% | 132% | $11638 |
| 2024 | $9.45 | 0.38 | (0.28) | 0.10 | (0.38) |  | (0.38) | $9.17 | 1.11% | 0.80% | 4.13% | 4.13% | 150% | $12467 |
| 2023 | $10.44 | 0.30 | (1.00) | (0.70) | (0.29) |  | (0.29) | $9.45 | (6.66)% | 0.80% | 3.12% | 3.12% | 174% | $12591 |
| 2022 | $11.18 | 0.22 | (0.62) | (0.40) | (0.24) | (0.10) | (0.34) | $10.44 | (3.79)% | 0.79% | 1.95% | 1.95% | 238% | $15294 |
| 2021 | $10.78 | 0.21 | 0.43 | 0.64 | (0.24) |  | (0.24) | $11.18 | 5.91% | 0.83% | 1.76% | 1.73% | 285% | $19275 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.17 | 0.11 | 0.28 | (0.17) |  | (0.17) | $9.29 | 3.11% | 1.55% | 3.73% | 3.73% | 96% | $495 |
| 2025 | $9.17 | 0.35 | 0.02 | 0.37 | (0.36) |  | (0.36) | $9.18 | 4.08% | 1.55% | 3.82% | 3.82% | 132% | $465 |
| 2024 | $9.45 | 0.31 | (0.28) | 0.03 | (0.31) |  | (0.31) | $9.17 | 0.36% | 1.55% | 3.38% | 3.38% | 150% | $428 |
| 2023 | $10.44 | 0.22 | (0.99) | (0.77) | (0.22) |  | (0.22) | $9.45 | (7.36)% | 1.55% | 2.37% | 2.37% | 174% | $638 |
| 2022 | $11.18 | 0.13 | (0.62) | (0.49) | (0.15) | (0.10) | (0.25) | $10.44 | (4.51)% | 1.54% | 1.20% | 1.20% | 238% | $1154 |
| 2021 | $10.77 | 0.12 | 0.44 | 0.56 | (0.15) |  | (0.15) | $11.18 | 5.20% | 1.58% | 1.01% | 0.98% | 285% | $1458 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset** <br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** | **Core Plus Fund** |
| **R Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.19 | 0.19 | 0.11 | 0.30 | (0.20) |  | (0.20) | $9.29 | 3.26% | 1.05% | 1.05% | 4.23% | 4.23% | 96% | $1234 |
| 2025 | $9.17 | 0.40 | 0.02 | 0.42 | (0.40) |  | (0.40) | $9.19 | 4.72% | 1.05% | 1.05% | 4.32% | 4.32% | 132% | $942 |
| 2024 | $9.45 | 0.35 | (0.28) | 0.07 | (0.35) |  | (0.35) | $9.17 | 0.86% | 1.05% | 1.05% | 3.88% | 3.88% | 150% | $822 |
| 2023 | $10.44 | 0.28 | (1.00) | (0.72) | (0.27) |  | (0.27) | $9.45 | (6.89)% | 1.05% | 1.05% | 2.87% | 2.87% | 174% | $881 |
| 2022 | $11.18 | 0.19 | (0.62) | (0.43) | (0.21) | (0.10) | (0.31) | $10.44 | (4.03)% | 1.04% | 1.04% | 1.70% | 1.70% | 238% | $825 |
| 2021 | $10.77 | 0.18 | 0.44 | 0.62 | (0.21) |  | (0.21) | $11.18 | 5.64% | 1.05% | 1.08% | 1.51% | 1.48% | 285% | $591 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.23 | 0.11 | 0.34 | (0.23) |  | (0.23) | $9.29 | 3.73% | 0.35% | 0.35% | 4.93% | 4.93% | 96% | $1547 |
| 2025 | $9.17 | 0.46 | 0.02 | 0.48 | (0.47) |  | (0.47) | $9.18 | 5.33% | 0.35% | 0.35% | 5.02% | 5.02% | 132% | $3083 |
| 2024 | $9.45 | 0.42 | (0.28) | 0.14 | (0.42) |  | (0.42) | $9.17 | 1.57% | 0.35% | 0.35% | 4.58% | 4.58% | 150% | $2593 |
| 2023 | $10.43 | 0.34 | (0.98) | (0.64) | (0.34) |  | (0.34) | $9.45 | (6.15)% | 0.35% | 0.35% | 3.57% | 3.57% | 174% | $8916 |
| 2022 | $11.17 | 0.27 | (0.62) | (0.35) | (0.29) | (0.10) | (0.39) | $10.43 | (3.36)% | 0.34% | 0.34% | 2.40% | 2.40% | 238% | $10737 |
| 2021 | $10.77 | 0.26 | 0.43 | 0.69 | (0.29) |  | (0.29) | $11.17 | 6.38% | 0.35% | 0.38% | 2.21% | 2.18% | 285% | $10817 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.24 | 0.11 | 0.35 | (0.24) |  | (0.24) | $9.29 | 3.91% | 0.01% | 0.35% | 5.27% | 4.93% | 96% | $5 |
| 2025 | $9.16 | 0.49 | 0.03 | 0.52 | (0.50) |  | (0.50) | $9.18 | 5.83% | 0.01% | 0.35% | 5.36% | 5.02% | 132% | $5 |
| 2024 | $9.44 | 0.45 | (0.28) | 0.17 | (0.45) |  | (0.45) | $9.16 | 1.92% | 0.01% | 0.35% | 4.92% | 4.58% | 150% | $5 |
| 2023 | $10.43 | 0.34 | (0.96) | (0.62) | (0.37) |  | (0.37) | $9.44 | (5.92)% | 0.01% | 0.35% | 3.91% | 3.57% | 174% | $5 |
| 2022 | $11.17 | 0.30 | (0.62) | (0.32) | (0.32) | (0.10) | (0.42) | $10.43 | (3.04)% | 0.01% | 0.34% | 2.73% | 2.40% | 238% | $504 |
| 2021<sup>(4)</sup> | $11.37 | 0.11 | (0.16) | (0.05) | (0.15) |  | (0.15) | $11.17 | (0.45)% | 0.01% | 0.35% | 2.47% | 2.13% | 285%<sup>(5)</sup> | $45097 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

(4)November 4, 2020 (commencement of sale) through March 31, 2021.

(5)Portfolio turnover is calculated at the fund level. Percentage indicated was calculated for the year ended March 31, 2021.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss) (before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in<br>thousands)** |
| **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.17 | 0.20 | 0.10 | 0.30 | (0.20) |  | (0.20) | $9.27 | 3.35% | 0.60% | 4.40% | 91% | $540963 |
| 2025 | $9.16 | 0.40 | 0.02 | 0.42 | (0.41) |  | (0.41) | $9.17 | 4.66% | 0.60% | 4.38% | 154% | $548406 |
| 2024 | $9.43 | 0.37 | (0.27) | 0.10 | (0.37) |  | (0.37) | $9.16 | 1.15% | 0.60% | 4.05% | 154% | $576362 |
| 2023 | $10.28 | 0.28 | (0.85) | (0.57) | (0.28) |  | (0.28) | $9.43 | (5.56)% | 0.60% | 3.03% | 170% | $590248 |
| 2022 | $10.96 | 0.15 | (0.55) | (0.40) | (0.17) | (0.11) | (0.28) | $10.28 | (3.81)% | 0.59% | 1.41% | 238% | $755003 |
| 2021 | $11.10 | 0.17 | 0.17 | 0.34 | (0.17) | (0.31) | (0.48) | $10.96 | 2.95% | 0.60% | 1.42% | 238% | $750959 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.21 | 0.10 | 0.31 | (0.21) |  | (0.21) | $9.28 | 3.45% | 0.40% | 4.60% | 91% | $656060 |
| 2025 | $9.16 | 0.42 | 0.03 | 0.45 | (0.43) |  | (0.43) | $9.18 | 4.98% | 0.40% | 4.58% | 154% | $676380 |
| 2024 | $9.43 | 0.39 | (0.27) | 0.12 | (0.39) |  | (0.39) | $9.16 | 1.35% | 0.40% | 4.25% | 154% | $710342 |
| 2023 | $10.28 | 0.30 | (0.86) | (0.56) | (0.29) |  | (0.29) | $9.43 | (5.37)% | 0.40% | 3.23% | 170% | $689974 |
| 2022 | $10.96 | 0.18 | (0.56) | (0.38) | (0.19) | (0.11) | (0.30) | $10.28 | (3.62)% | 0.39% | 1.61% | 238% | $751444 |
| 2021 | $11.10 | 0.18 | 0.18 | 0.36 | (0.19) | (0.31) | (0.50) | $10.96 | 3.06% | 0.40% | 1.62% | 238% | $871066 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.21 | 0.10 | 0.31 | (0.21) |  | (0.21) | $9.28 | 3.47% | 0.37% | 4.63% | 91% | $232328 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.90% | 0.37% | 4.61% | 154% | $216494 |
| 2024 | $9.44 | 0.39 | (0.27) | 0.12 | (0.39) |  | (0.39) | $9.17 | 1.38% | 0.37% | 4.28% | 154% | $169502 |
| 2023 | $10.29 | 0.30 | (0.85) | (0.55) | (0.30) |  | (0.30) | $9.44 | (5.33)% | 0.37% | 3.26% | 170% | $119167 |
| 2022 | $10.96 | 0.18 | (0.54) | (0.36) | (0.20) | (0.11) | (0.31) | $10.29 | (3.50)% | 0.36% | 1.64% | 238% | $141842 |
| 2021 | $11.11 | 0.18 | 0.17 | 0.35 | (0.19) | (0.31) | (0.50) | $10.96 | 3.09% | 0.37% | 1.65% | 238% | $115357 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.17 | 0.19 | 0.10 | 0.29 | (0.19) |  | (0.19) | $9.27 | 3.22% | 0.85% | 4.15% | 91% | $43809 |
| 2025 | $9.16 | 0.38 | 0.01 | 0.39 | (0.38) |  | (0.38) | $9.17 | 4.40% | 0.85% | 4.13% | 154% | $46026 |
| 2024 | $9.43 | 0.35 | (0.27) | 0.08 | (0.35) |  | (0.35) | $9.16 | 0.90% | 0.85% | 3.80% | 154% | $68066 |
| 2023 | $10.28 | 0.25 | (0.85) | (0.60) | (0.25) |  | (0.25) | $9.43 | (5.79)% | 0.85% | 2.78% | 170% | $74013 |
| 2022 | $10.96 | 0.13 | (0.56) | (0.43) | (0.14) | (0.11) | (0.25) | $10.28 | (4.05)% | 0.84% | 1.16% | 238% | $89094 |
| 2021 | $11.10 | 0.13 | 0.18 | 0.31 | (0.14) | (0.31) | (0.45) | $10.96 | 2.69% | 0.85% | 1.17% | 238% | $113848 |

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss) (before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in<br>thousands)** |
| **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| **C Class** | **C Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.17 | 0.16 | 0.09 | 0.25 | (0.16) |  | (0.16) | $9.26 | 2.73% | 1.60% | 3.40% | 91% | $3614 |
| 2025 | $9.15 | 0.31 | 0.03 | 0.34 | (0.32) |  | (0.32) | $9.17 | 3.73% | 1.60% | 3.38% | 154% | $4368 |
| 2024 | $9.42 | 0.28 | (0.27) | 0.01 | (0.28) |  | (0.28) | $9.15 | 0.14% | 1.60% | 3.05% | 154% | $7853 |
| 2023 | $10.27 | 0.18 | (0.85) | (0.67) | (0.18) |  | (0.18) | $9.42 | (6.51)% | 1.60% | 2.03% | 170% | $7638 |
| 2022 | $10.95 | 0.04 | (0.55) | (0.51) | (0.06) | (0.11) | (0.17) | $10.27 | (4.78)% | 1.59% | 0.41% | 238% | $7795 |
| 2021 | $11.09 | 0.05 | 0.17 | 0.22 | (0.05) | (0.31) | (0.36) | $10.95 | 1.93% | 1.60% | 0.42% | 238% | $10550 |
| **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.17 | 0.18 | 0.10 | 0.28 | (0.18) |  | (0.18) | $9.27 | 3.09% | 1.10% | 3.90% | 91% | $4277 |
| 2025 | $9.16 | 0.36 | 0.01 | 0.37 | (0.36) |  | (0.36) | $9.17 | 4.14% | 1.10% | 3.88% | 154% | $4037 |
| 2024 | $9.43 | 0.32 | (0.27) | 0.05 | (0.32) |  | (0.32) | $9.16 | 0.64% | 1.10% | 3.55% | 154% | $4163 |
| 2023 | $10.28 | 0.23 | (0.85) | (0.62) | (0.23) |  | (0.23) | $9.43 | (6.03)% | 1.10% | 2.53% | 170% | $4796 |
| 2022 | $10.95 | 0.10 | (0.54) | (0.44) | (0.12) | (0.11) | (0.23) | $10.28 | (4.29)% | 1.09% | 0.91% | 238% | $5334 |
| 2021 | $11.10 | 0.10 | 0.17 | 0.27 | (0.11) | (0.31) | (0.42) | $10.95 | 2.44% | 1.10% | 0.92% | 238% | $7274 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.21 | 0.10 | 0.31 | (0.21) |  | (0.21) | $9.28 | 3.46% | 0.40% | 4.60% | 91% | $6 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.86% | 0.40% | 4.58% | 154% | $6 |
| 2024 | $9.43 | 0.39 | (0.26) | 0.13 | (0.39) |  | (0.39) | $9.17 | 1.45% | 0.40% | 4.25% | 154% | $5 |
| 2023 | $10.28 | 0.30 | (0.86) | (0.56) | (0.29) |  | (0.29) | $9.43 | (5.40)% | 0.40% | 3.23% | 170% | $5 |
| 2022 | $10.96 | 0.19 | (0.57) | (0.38) | (0.19) | (0.11) | (0.30) | $10.28 | (3.61)% | 0.39% | 1.61% | 238% | $6 |
| 2021 | $11.10 | 0.18 | 0.18 | 0.36 | (0.19) | (0.31) | (0.50) | $10.96 | 3.15% | 0.40% | 1.62% | 238% | $629 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.18 | 0.21 | 0.10 | 0.31 | (0.21) |  | (0.21) | $9.28 | 3.48% | 0.35% | 4.65% | 91% | $118400 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.92% | 0.35% | 4.63% | 154% | $119968 |
| 2024 | $9.44 | 0.39 | (0.27) | 0.12 | (0.39) |  | (0.39) | $9.17 | 1.40% | 0.35% | 4.30% | 154% | $154989 |
| 2023 | $10.29 | 0.30 | (0.85) | (0.55) | (0.30) |  | (0.30) | $9.44 | (5.31)% | 0.35% | 3.28% | 170% | $138248 |
| 2022 | $10.97 | 0.18 | (0.55) | (0.37) | (0.20) | (0.11) | (0.31) | $10.29 | (3.57)% | 0.34% | 1.66% | 238% | $122753 |
| 2021 | $11.11 | 0.19 | 0.17 | 0.36 | (0.19) | (0.31) | (0.50) | $10.97 | 3.20% | 0.35% | 1.67% | 238% | $128121 |

---

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---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss) (before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in<br>thousands)** |
| **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| **G Class** | **G Class** | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.18 | 0.23 | 0.10 | 0.33 | (0.23) |  | (0.23) | $9.28 | 3.65% | 0.01% | 0.35% | 4.99% | 4.65% | 91% | $3293567 |
| 2025 | $9.17 | 0.46 | 0.01 | 0.47 | (0.46) |  | (0.46) | $9.18 | 5.27% | 0.01% | 0.35% | 4.97% | 4.63% | 154% | $3778183 |
| 2024 | $9.44 | 0.42 | (0.27) | 0.15 | (0.42) |  | (0.42) | $9.17 | 1.75% | 0.01% | 0.35% | 4.64% | 4.30% | 154% | $4495587 |
| 2023<sup>(4)</sup> | $9.85 | 0.30 | (0.41) | (0.11) | (0.30) |  | (0.30) | $9.44 | (1.10)% | 0.01% | 0.35% | 3.67% | 3.33% | 170%<sup>(5)</sup> | $4581460 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

(4)May 19, 2022 (commencement of sale) through March 31, 2023.

(5)Portfolio turnover is calculated at the fund level. Percentage indicated was calculated for the year ended March 31, 2023.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

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| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.58 | 0.29 | 0.24 | 0.53 | (0.29) |  | (0.29) | $8.82 | 6.23% | 0.78% | 6.60% | 6.60% | 24% | $200648 |
| 2025 | $8.58 | 0.56 | &nbsp;&nbsp;&nbsp;&nbsp; —<sup>(4)</sup> | 0.56 | (0.56) |  | (0.56) | $8.58 | 6.76% | 0.78% | 6.44% | 6.44% | 35% | $184388 |
| 2024 | $8.25 | 0.54 | 0.33 | 0.87 | (0.54) |  | (0.54) | $8.58 | 10.76% | 0.79% | 6.44% | 6.44% | 28% | $134075 |
| 2023 | $9.13 | 0.49 | (0.85) | (0.36) | (0.50) | (0.02) | (0.52) | $8.25 | (3.76)% | 0.78% | 6.02% | 6.02% | 31% | $117101 |
| 2022 | $9.71 | 0.47 | (0.47) |  | (0.48) | (0.10) | (0.58) | $9.13 | (0.19)% | 0.78% | 4.84% | 4.84% | 49% | $60727 |
| 2021 | $8.15 | 0.48 | 1.57 | 2.05 | (0.49) |  | (0.49) | $9.71 | 25.69% | 0.78% | 5.21% | 5.21% | 52% | $40746 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.58 | 0.29 | 0.23 | 0.52 | (0.29) |  | (0.29) | $8.81 | 6.16% | 0.68% | 6.70% | 6.70% | 24% | $148517 |
| 2025 | $8.57 | 0.56 | 0.01 | 0.57 | (0.56) |  | (0.56) | $8.58 | 6.86% | 0.68% | 6.54% | 6.54% | 35% | $160780 |
| 2024 | $8.25 | 0.54 | 0.32 | 0.86 | (0.54) |  | (0.54) | $8.57 | 10.86% | 0.69% | 6.54% | 6.54% | 28% | $467869 |
| 2023 | $9.12 | 0.51 | (0.85) | (0.34) | (0.51) | (0.02) | (0.53) | $8.25 | (3.56)% | 0.68% | 6.12% | 6.12% | 31% | $340613 |
| 2022 | $9.70 | 0.48 | (0.47) | 0.01 | (0.49) | (0.10) | (0.59) | $9.12 | (0.10)% | 0.68% | 4.94% | 4.94% | 49% | $197087 |
| 2021 | $8.15 | 0.49 | 1.56 | 2.05 | (0.50) |  | (0.50) | $9.70 | 25.68% | 0.68% | 5.31% | 5.31% | 52% | $127684 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.58 | 0.29 | 0.23 | 0.52 | (0.29) |  | (0.29) | $8.81 | 6.21% | 0.58% | 6.80% | 6.80% | 24% | $335504 |
| 2025 | $8.57 | 0.57 | 0.01 | 0.58 | (0.57) |  | (0.57) | $8.58 | 6.97% | 0.58% | 6.64% | 6.64% | 35% | $293586 |
| 2024 | $8.25 | 0.55 | 0.32 | 0.87 | (0.55) |  | (0.55) | $8.57 | 10.97% | 0.59% | 6.64% | 6.64% | 28% | $323733 |
| 2023 | $9.13 | 0.51 | (0.85) | (0.34) | (0.52) | (0.02) | (0.54) | $8.25 | (3.57)% | 0.58% | 6.22% | 6.22% | 31% | $208457 |
| 2022 | $9.70 | 0.49 | (0.46) | 0.03 | (0.50) | (0.10) | (0.60) | $9.13 | 0.11% | 0.58% | 5.04% | 5.04% | 49% | $421257 |
| 2021 | $8.15 | 0.50 | 1.56 | 2.06 | (0.51) |  | (0.51) | $9.70 | 25.81% | 0.58% | 5.41% | 5.41% | 52% | $615479 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.58 | 0.28 | 0.24 | 0.52 | (0.28) |  | (0.28) | $8.82 | 6.10% | 1.03% | 6.35% | 6.35% | 24% | $8268 |
| 2025 | $8.58 | 0.53 | &nbsp;&nbsp;&nbsp;&nbsp; —<sup>(4)</sup> | 0.53 | (0.53) |  | (0.53) | $8.58 | 6.49% | 1.03% | 6.19% | 6.19% | 35% | $7288 |
| 2024 | $8.25 | 0.52 | 0.32 | 0.84 | (0.51) |  | (0.51) | $8.58 | 10.48% | 1.04% | 6.19% | 6.19% | 28% | $6177 |
| 2023 | $9.13 | 0.47 | (0.85) | (0.38) | (0.48) | (0.02) | (0.50) | $8.25 | (4.00)% | 1.03% | 5.77% | 5.77% | 31% | $4865 |
| 2022 | $9.71 | 0.45 | (0.47) | (0.02) | (0.46) | (0.10) | (0.56) | $9.13 | (0.44)% | 1.03% | 4.59% | 4.59% | 49% | $6075 |
| 2021 | $8.15 | 0.46 | 1.57 | 2.03 | (0.47) |  | (0.47) | $9.71 | 25.38% | 1.03% | 4.96% | 4.96% | 52% | $4761 |

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** | **High Income Fund** |
| **R5 Class** | **R5 Class** | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.58 | 0.30 | 0.23 | 0.53 | (0.30) |  | (0.30) | $8.81 | 6.21% | 0.58% | 0.58% | 6.80% | 6.80% | 24% | $275 |
| 2025 | $8.57 | 0.57 | 0.01 | 0.58 | (0.57) |  | (0.57) | $8.58 | 6.97% | 0.58% | 0.58% | 6.64% | 6.64% | 35% | $172 |
| 2024 | $8.25 | 0.55 | 0.32 | 0.87 | (0.55) |  | (0.55) | $8.57 | 10.97% | 0.59% | 0.59% | 6.64% | 6.64% | 28% | $201 |
| 2023 | $9.13 | 0.51 | (0.85) | (0.34) | (0.52) | (0.02) | (0.54) | $8.25 | (3.57)% | 0.58% | 0.58% | 6.22% | 6.22% | 31% | $176 |
| 2022 | $9.70 | 0.49 | (0.46) | 0.03 | (0.50) | (0.10) | (0.60) | $9.13 | 0.12% | 0.58% | 0.58% | 5.04% | 5.04% | 49% | $166 |
| 2021 | $8.15 | 0.50 | 1.56 | 2.06 | (0.51) |  | (0.51) | $9.70 | 25.81% | 0.58% | 0.58% | 5.41% | 5.41% | 52% | $142 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.58 | 0.30 | 0.23 | 0.53 | (0.30) |  | (0.30) | $8.81 | 6.24% | 0.53% | 0.53% | 6.85% | 6.85% | 24% | $373455 |
| 2025 | $8.57 | 0.58 | 0.01 | 0.59 | (0.58) |  | (0.58) | $8.58 | 7.15% | 0.53% | 0.53% | 6.69% | 6.69% | 35% | $327508 |
| 2024 | $8.25 | 0.55 | 0.33 | 0.88 | (0.56) |  | (0.56) | $8.57 | 10.89% | 0.54% | 0.54% | 6.69% | 6.69% | 28% | $184160 |
| 2023 | $9.12 | 0.52 | (0.84) | (0.32) | (0.53) | (0.02) | (0.55) | $8.25 | (3.41)% | 0.53% | 0.53% | 6.27% | 6.27% | 31% | $267183 |
| 2022 | $9.70 | 0.49 | (0.47) | 0.02 | (0.50) | (0.10) | (0.60) | $9.12 | 0.05% | 0.53% | 0.53% | 5.09% | 5.09% | 49% | $208223 |
| 2021 | $8.14 | 0.50 | 1.58 | 2.08 | (0.52) |  | (0.52) | $9.70 | 25.87% | 0.53% | 0.53% | 5.46% | 5.46% | 52% | $282349 |
| **G Class** | **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.58 | 0.32 | 0.23 | 0.55 | (0.32) |  | (0.32) | $8.81 | 6.52% | 0.00% | 0.53% | 7.38% | 6.85% | 24% | $844296 |
| 2025 | $8.57 | 0.62 | 0.01 | 0.63 | (0.62) |  | (0.62) | $8.58 | 7.58% | 0.00% | 0.53% | 7.22% | 6.69% | 35% | $937725 |
| 2024 | $8.25 | 0.60 | 0.32 | 0.92 | (0.60) |  | (0.60) | $8.57 | 11.61% | 0.01% | 0.54% | 7.22% | 6.69% | 28% | $1061994 |
| 2023<sup>(5)</sup> | $8.41 | 0.48 | (0.12) | 0.36 | (0.50) | (0.02) | (0.52) | $8.25 | 4.39% | 0.00% | 0.53% | 6.82% | 6.29% | 31%<sup>(6)</sup> | $1018372 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

(4)Per-share amount was less than $0.005.

(5)May 19, 2022 (commencement of sale) through March 31, 2023.

(6)Portfolio turnover is calculated at the fund level. Percentage indicated was calculated for the year ended March 31, 2023.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Portfolio**<br>**Turnover**<br>**Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in thousands)** |
| **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | |
| 2025<sup>(3)</sup> | $5.06 | 0.15 | 0.14 | 0.29 | (0.15) | $5.20 | 5.84% | 0.72% | 5.92% | 78% | $74239 |
| 2025 | $5.03 | 0.29 | 0.02 | 0.31 | (0.28) | $5.06 | 6.39% | 0.77% | 5.62% | 41% | $73263 |
| 2024 | $4.91 | 0.27 | 0.12 | 0.39 | (0.27) | $5.03 | 8.26% | 0.78% | 5.54% | 40% | $73867 |
| 2023 | $5.41 | 0.24 | (0.49) | (0.25) | (0.25) | $4.91 | (4.61)% | 0.78% | 4.85% | 43% | $77431 |
| 2022 | $5.70 | 0.22 | (0.28) | (0.06) | (0.23) | $5.41 | (1.23)% | 0.77% | 3.90% | 83% | $90165 |
| 2021 | $5.02 | 0.23 | 0.69 | 0.92 | (0.24) | $5.70 | 18.52% | 0.78% | 4.25% | 100% | $96679 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.08 | 0.15 | 0.14 | 0.29 | (0.15) | $5.22 | 5.88% | 0.62% | 6.02% | 78% | $2616 |
| 2025 | $5.05 | 0.29 | 0.03 | 0.32 | (0.29) | $5.08 | 6.49% | 0.67% | 5.72% | 41% | $2715 |
| 2024 | $4.92 | 0.28 | 0.13 | 0.41 | (0.28) | $5.05 | 8.58% | 0.68% | 5.64% | 40% | $9508 |
| 2023 | $5.42 | 0.24 | (0.49) | (0.25) | (0.25) | $4.92 | (4.49)% | 0.68% | 4.95% | 43% | $4202 |
| 2022 | $5.71 | 0.23 | (0.29) | (0.06) | (0.23) | $5.42 | (1.12)% | 0.67% | 4.00% | 83% | $13220 |
| 2021 | $5.03 | 0.24 | 0.68 | 0.92 | (0.24) | $5.71 | 18.61% | 0.68% | 4.35% | 100% | $5273 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.07 | 0.16 | 0.14 | 0.30 | (0.16) | $5.21 | 5.94% | 0.52% | 6.12% | 78% | $27 |
| 2025 | $5.04 | 0.30 | 0.03 | 0.33 | (0.30) | $5.07 | 6.60% | 0.57% | 5.82% | 41% | $28 |
| 2024 | $4.92 | 0.28 | 0.12 | 0.40 | (0.28) | $5.04 | 8.47% | 0.58% | 5.74% | 40% | $68 |
| 2023 | $5.42 | 0.26 | (0.50) | (0.24) | (0.26) | $4.92 | (4.40)% | 0.58% | 5.05% | 43% | $15 |
| 2022 | $5.70 | 0.23 | (0.27) | (0.04) | (0.24) | $5.42 | (0.85)% | 0.57% | 4.10% | 83% | $6 |
| 2021 | $5.02 | 0.25 | 0.68 | 0.93 | (0.25) | $5.70 | 18.76% | 0.58% | 4.45% | 100% | $21131 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.06 | 0.15 | 0.15 | 0.30 | (0.15) | $5.21 | 5.91% | 0.97% | 5.67% | 78% | $8666 |
| 2025 | $5.04 | 0.27 | 0.02 | 0.29 | (0.27) | $5.06 | 5.92% | 1.02% | 5.37% | 41% | $7825 |
| 2024 | $4.91 | 0.26 | 0.13 | 0.39 | (0.26) | $5.04 | 8.20% | 1.03% | 5.29% | 40% | $8351 |
| 2023 | $5.41 | 0.23 | (0.50) | (0.27) | (0.23) | $4.91 | (4.84)% | 1.03% | 4.60% | 43% | $8677 |
| 2022 | $5.70 | 0.21 | (0.29) | (0.08) | (0.21) | $5.41 | (1.47)% | 1.02% | 3.65% | 83% | $11933 |
| 2021 | $5.02 | 0.22 | 0.68 | 0.90 | (0.22) | $5.70 | 18.23% | 1.03% | 4.00% | 100% | $13798 |

---

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Portfolio**<br>**Turnover**<br>**Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in thousands)** |
| **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** |
| **C Class** | **C Class** | | | | | | | | | | |
| 2025<sup>(3)</sup> | $5.06 | 0.13 | 0.14 | 0.27 | (0.13) | $5.20 | 5.31% | 1.72% | 4.92% | 78% | $660 |
| 2025 | $5.03 | 0.24 | 0.02 | 0.26 | (0.23) | $5.06 | 5.34% | 1.77% | 4.62% | 41% | $769 |
| 2024 | $4.91 | 0.22 | 0.12 | 0.34 | (0.22) | $5.03 | 7.19% | 1.78% | 4.54% | 40% | $398 |
| 2023 | $5.41 | 0.19 | (0.49) | (0.30) | (0.20) | $4.91 | (5.56)% | 1.78% | 3.85% | 43% | $681 |
| 2022 | $5.70 | 0.17 | (0.29) | (0.12) | (0.17) | $5.41 | (2.21)% | 1.77% | 2.90% | 83% | $816 |
| 2021 | $5.02 | 0.18 | 0.68 | 0.86 | (0.18) | $5.70 | 17.35% | 1.78% | 3.25% | 100% | $1225 |
| **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.06 | 0.14 | 0.14 | 0.28 | (0.14) | $5.20 | 5.58% | 1.22% | 5.42% | 78% | $1526 |
| 2025 | $5.04 | 0.26 | 0.02 | 0.28 | (0.26) | $5.06 | 5.65% | 1.27% | 5.12% | 41% | $1441 |
| 2024 | $4.91 | 0.25 | 0.13 | 0.38 | (0.25) | $5.04 | 7.93% | 1.28% | 5.04% | 40% | $1388 |
| 2023 | $5.41 | 0.22 | (0.50) | (0.28) | (0.22) | $4.91 | (5.08)% | 1.28% | 4.35% | 43% | $1256 |
| 2022 | $5.70 | 0.19 | (0.28) | (0.09) | (0.20) | $5.41 | (1.72)% | 1.27% | 3.40% | 83% | $1066 |
| 2021 | $5.02 | 0.21 | 0.68 | 0.89 | (0.21) | $5.70 | 17.94% | 1.28% | 3.75% | 100% | $1207 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.06 | 0.16 | 0.15 | 0.31 | (0.16) | $5.21 | 6.15% | 0.52% | 6.12% | 78% | $60 |
| 2025 | $5.03 | 0.30 | 0.03 | 0.33 | (0.30) | $5.06 | 6.39% | 0.57% | 5.82% | 41% | $56 |
| 2024 | $4.91 | 0.28 | 0.12 | 0.40 | (0.28) | $5.03 | 8.69% | 0.58% | 5.74% | 40% | $72 |
| 2023 | $5.42 | 0.25 | (0.50) | (0.25) | (0.26) | $4.91 | (4.59)% | 0.58% | 5.05% | 43% | $488 |
| 2022 | $5.70 | 0.23 | (0.27) | (0.04) | (0.24) | $5.42 | (0.85)% | 0.57% | 4.10% | 83% | $588 |
| 2021 | $5.02 | 0.25 | 0.68 | 0.93 | (0.25) | $5.70 | 18.76% | 0.58% | 4.45% | 100% | $494 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $5.05 | 0.16 | 0.15 | 0.31 | (0.16) | $5.20 | 6.18% | 0.47% | 6.17% | 78% | $170 |
| 2025 | $5.03 | 0.30 | 0.02 | 0.32 | (0.30) | $5.05 | 6.45% | 0.52% | 5.87% | 41% | $275 |
| 2024 | $4.91 | 0.28 | 0.12 | 0.40 | (0.28) | $5.03 | 8.53% | 0.53% | 5.79% | 40% | $571 |
| 2023 | $5.41 | 0.25 | (0.49) | (0.24) | (0.26) | $4.91 | (4.37)% | 0.53% | 5.10% | 43% | $247 |
| 2022 | $5.69 | 0.24 | (0.28) | (0.04) | (0.24) | $5.41 | (0.81)% | 0.52% | 4.15% | 83% | $329 |
| 2021 | $5.02 | 0.25 | 0.67 | 0.92 | (0.25) | $5.69 | 18.61% | 0.53% | 4.50% | 100% | $365 |

---

------

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment <br>Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End<br> of<br>Period<br>(in thousands)** |
| **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.92 | 0.24 | 0.15 | 0.39 | (0.25) |  | (0.25) | $9.06 | 4.40% | 0.56% | 0.56% | 5.46% | 5.46% | 78% | $54099 |
| 2025 | $8.86 | 0.50 | 0.08 | 0.58 | (0.52) |  | (0.52) | $8.92 | 6.76% | 0.57% | 0.57% | 5.65% | 5.65% | 169% | $51246 |
| 2024 | $8.93 | 0.47 | (0.07) | 0.40 | (0.47) |  | (0.47) | $8.86 | 4.72% | 0.56% | 0.56% | 5.41% | 5.41% | 173% | $46154 |
| 2023 | $9.58 | 0.37 | (0.65) | (0.28) | (0.37) |  | (0.37) | $8.93 | (2.87)% | 0.73% | 0.73% | 4.11% | 4.11% | 176% | $55862 |
| 2022 | $10.39 | 0.33 | (0.59) | (0.26) | (0.34) | (0.21) | (0.55) | $9.58 | (2.65)% | 0.75% | 0.75% | 3.24% | 3.24% | 185% | $54374 |
| 2021 | $9.28 | 0.31 | 1.20 | 1.51 | (0.32) | (0.08) | (0.40) | $10.39 | 16.47% | 0.72% | 0.75% | 3.02% | 2.99% | 193% | $36484 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.91 | 0.25 | 0.15 | 0.40 | (0.25) |  | (0.25) | $9.06 | 4.57% | 0.46% | 0.46% | 5.56% | 5.56% | 78% | $23995 |
| 2025 | $8.86 | 0.51 | 0.07 | 0.58 | (0.53) |  | (0.53) | $8.91 | 6.75% | 0.47% | 0.47% | 5.75% | 5.75% | 169% | $23563 |
| 2024 | $8.93 | 0.48 | (0.07) | 0.41 | (0.48) |  | (0.48) | $8.86 | 4.83% | 0.46% | 0.46% | 5.51% | 5.51% | 173% | $40389 |
| 2023 | $9.58 | 0.39 | (0.66) | (0.27) | (0.38) |  | (0.38) | $8.93 | (2.78)% | 0.63% | 0.63% | 4.21% | 4.21% | 176% | $14106 |
| 2022 | $10.39 | 0.34 | (0.59) | (0.25) | (0.35) | (0.21) | (0.56) | $9.58 | (2.55)% | 0.65% | 0.65% | 3.34% | 3.34% | 185% | $7009 |
| 2021 | $9.28 | 0.32 | 1.20 | 1.52 | (0.33) | (0.08) | (0.41) | $10.39 | 16.59% | 0.62% | 0.65% | 3.12% | 3.09% | 193% | $7679 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.92 | 0.25 | 0.15 | 0.40 | (0.26) |  | (0.26) | $9.06 | 4.50% | 0.36% | 0.36% | 5.66% | 5.66% | 78% | $7 |
| 2025 | $8.86 | 0.52 | 0.08 | 0.60 | (0.54) |  | (0.54) | $8.92 | 6.95% | 0.37% | 0.37% | 5.85% | 5.85% | 169% | $7 |
| 2024 | $8.93 | 0.49 | (0.07) | 0.42 | (0.49) |  | (0.49) | $8.86 | 4.80% | 0.36% | 0.36% | 5.61% | 5.61% | 173% | $6 |
| 2023 | $9.58 | 0.38 | (0.65) | (0.27) | (0.38) |  | (0.38) | $8.93 | (2.70)% | 0.53% | 0.53% | 4.31% | 4.31% | 176% | $6 |
| 2022 | $10.39 | 0.35 | (0.59) | (0.24) | (0.36) | (0.21) | (0.57) | $9.58 | (2.36)% | 0.55% | 0.55% | 3.44% | 3.44% | 185% | $6 |
| 2021 | $9.28 | 0.33 | 1.20 | 1.53 | (0.34) | (0.08) | (0.42) | $10.39 | 16.71% | 0.52% | 0.55% | 3.22% | 3.19% | 193% | $6 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.92 | 0.23 | 0.15 | 0.38 | (0.24) |  | (0.24) | $9.06 | 4.27% | 0.81% | 0.81% | 5.21% | 5.21% | 78% | $8323 |
| 2025 | $8.86 | 0.48 | 0.08 | 0.56 | (0.50) |  | (0.50) | $8.92 | 6.50% | 0.82% | 0.82% | 5.40% | 5.40% | 169% | $7224 |
| 2024 | $8.93 | 0.45 | (0.07) | 0.38 | (0.45) |  | (0.45) | $8.86 | 4.35% | 0.81% | 0.81% | 5.16% | 5.16% | 173% | $5704 |
| 2023 | $9.58 | 0.35 | (0.65) | (0.30) | (0.35) |  | (0.35) | $8.93 | (3.01)% | 0.98% | 0.98% | 3.86% | 3.86% | 176% | $4918 |
| 2022 | $10.39 | 0.31 | (0.59) | (0.28) | (0.32) | (0.21) | (0.53) | $9.58 | (2.89)% | 1.00% | 1.00% | 2.99% | 2.99% | 185% | $4535 |
| 2021 | $9.28 | 0.28 | 1.21 | 1.49 | (0.30) | (0.08) | (0.38) | $10.39 | 16.18% | 0.97% | 1.00% | 2.77% | 2.74% | 193% | $3791 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment <br>Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End<br> of<br>Period<br>(in thousands)** |
| **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** | **Multisector Income Fund** |
| **C Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.91 | 0.20 | 0.14 | 0.34 | (0.20) |  | (0.20) | $9.05 | 3.88% | 1.56% | 1.56% | 4.46% | 4.46% | 78% | $384 |
| 2025 | $8.86 | 0.41 | 0.08 | 0.49 | (0.44) |  | (0.44) | $8.91 | 5.59% | 1.57% | 1.57% | 4.65% | 4.65% | 169% | $525 |
| 2024 | $8.93 | 0.39 | (0.07) | 0.32 | (0.39) |  | (0.39) | $8.86 | 3.69% | 1.56% | 1.56% | 4.41% | 4.41% | 173% | $550 |
| 2023 | $9.58 | 0.29 | (0.66) | (0.37) | (0.28) |  | (0.28) | $8.93 | (3.84)% | 1.73% | 1.73% | 3.11% | 3.11% | 176% | $517 |
| 2022 | $10.39 | 0.23 | (0.59) | (0.36) | (0.24) | (0.21) | (0.45) | $9.58 | (3.62)% | 1.75% | 1.75% | 2.24% | 2.24% | 185% | $349 |
| 2021 | $9.28 | 0.20 | 1.21 | 1.41 | (0.22) | (0.08) | (0.30) | $10.39 | 15.32% | 1.72% | 1.75% | 2.02% | 1.99% | 193% | $176 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.92 | 0.22 | 0.14 | 0.36 | (0.22) |  | (0.22) | $9.06 | 4.13% | 1.06% | 1.06% | 4.96% | 4.96% | 78% | $582 |
| 2025 | $8.86 | 0.46 | 0.08 | 0.54 | (0.48) |  | (0.48) | $8.92 | 6.23% | 1.07% | 1.07% | 5.15% | 5.15% | 169% | $1083 |
| 2024 | $8.93 | 0.43 | (0.07) | 0.36 | (0.43) |  | (0.43) | $8.86 | 4.09% | 1.06% | 1.06% | 4.91% | 4.91% | 173% | $706 |
| 2023 | $9.59 | 0.33 | (0.67) | (0.34) | (0.32) |  | (0.32) | $8.93 | (3.35)% | 1.23% | 1.23% | 3.61% | 3.61% | 176% | $664 |
| 2022 | $10.40 | 0.28 | (0.59) | (0.31) | (0.29) | (0.21) | (0.50) | $9.59 | (3.13)% | 1.25% | 1.25% | 2.74% | 2.74% | 185% | $544 |
| 2021 | $9.28 | 0.26 | 1.21 | 1.47 | (0.27) | (0.08) | (0.35) | $10.40 | 15.88% | 1.22% | 1.25% | 2.52% | 2.49% | 193% | $282 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.91 | 0.25 | 0.16 | 0.41 | (0.26) |  | (0.26) | $9.06 | 4.62% | 0.36% | 0.36% | 5.66% | 5.66% | 78% | $869 |
| 2025 | $8.86 | 0.52 | 0.07 | 0.59 | (0.54) |  | (0.54) | $8.91 | 6.85% | 0.37% | 0.37% | 5.85% | 5.85% | 169% | $998 |
| 2024 | $8.93 | 0.49 | (0.07) | 0.42 | (0.49) |  | (0.49) | $8.86 | 4.93% | 0.36% | 0.36% | 5.61% | 5.61% | 173% | $599 |
| 2023 | $9.58 | 0.39 | (0.65) | (0.26) | (0.39) |  | (0.39) | $8.93 | (2.68)% | 0.53% | 0.53% | 4.31% | 4.31% | 176% | $493 |
| 2022 | $10.39 | 0.34 | (0.57) | (0.23) | (0.37) | (0.21) | (0.58) | $9.58 | (2.46)% | 0.55% | 0.55% | 3.44% | 3.44% | 185% | $383 |
| 2021 | $9.28 | 0.31 | 1.22 | 1.53 | (0.34) | (0.08) | (0.42) | $10.39 | 16.70% | 0.52% | 0.55% | 3.22% | 3.19% | 193% | $47 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.91 | 0.26 | 0.15 | 0.41 | (0.26) |  | (0.26) | $9.06 | 4.65% | 0.31% | 0.31% | 5.71% | 5.71% | 78% | $21197 |
| 2025 | $8.86 | 0.53 | 0.07 | 0.60 | (0.55) |  | (0.55) | $8.91 | 6.91% | 0.32% | 0.32% | 5.90% | 5.90% | 169% | $19987 |
| 2024 | $8.93 | 0.50 | (0.07) | 0.43 | (0.50) |  | (0.50) | $8.86 | 4.99% | 0.31% | 0.31% | 5.66% | 5.66% | 173% | $13638 |
| 2023 | $9.58 | 0.40 | (0.66) | (0.26) | (0.39) |  | (0.39) | $8.93 | (2.63)% | 0.48% | 0.48% | 4.36% | 4.36% | 176% | $8811 |
| 2022 | $10.39 | 0.36 | (0.59) | (0.23) | (0.37) | (0.21) | (0.58) | $9.58 | (2.41)% | 0.50% | 0.50% | 3.49% | 3.49% | 185% | $5047 |
| 2021 | $9.28 | 0.33 | 1.21 | 1.54 | (0.35) | (0.08) | (0.43) | $10.39 | 16.76% | 0.47% | 0.50% | 3.27% | 3.24% | 193% | $2308 |

---

------

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Distributions From<br>Net<br>Investment<br>Income** | **Net Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating <br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment<br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before <br>expense <br>waiver)** | **Net <br>Assets, <br>End of <br>Period <br>(in thousands)** |
| **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 2.00% | 0.57% | 0.57% | 3.95% | 3.95% | $2458748 |
| 2025 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 4.67% | 0.57% | 0.57% | 4.56% | 4.56% | $2394636 |
| 2024 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 5.04% | 0.58% | 0.58% | 4.93% | 4.93% | $2106170 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 2.38% | 0.58% | 0.58% | 2.40% | 2.40% | $1905924 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.18% | 0.58% | 0.01% | (0.39)% | $1707589 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.10% | 0.35% | 0.58% | 0.09% | (0.14)% | $1692242 |
| **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** | **A Class** |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.87% | 0.82% | 0.82% | 3.70% | 3.70% | $29412 |
| 2025 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 4.41% | 0.82% | 0.82% | 4.31% | 4.31% | $31965 |
| 2024 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 4.78% | 0.83% | 0.83% | 4.68% | 4.68% | $25920 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 2.15% | 0.81% | 0.83% | 2.17% | 2.15% | $23958 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.18% | 0.83% | 0.01% | (0.64)% | $21439 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.05% | 0.40% | 0.83% | 0.04% | (0.39)% | $20022 |
| **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.62% | 1.32% | 1.32% | 3.20% | 3.20% | $1121 |
| 2025 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 3.89% | 1.32% | 1.32% | 3.81% | 3.81% | $1323 |
| 2024 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 4.25% | 1.33% | 1.33% | 4.18% | 4.18% | $1179 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.73% | 1.18% | 1.33% | 1.80% | 1.65% | $2147 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.21% | 1.33% | (0.02)% | (1.14)% | $6818 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.60% | 1.33% | (0.16)% | (0.89)% | $2622 |

---

**Notes to Financial Highlights**

(1)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(2)Six months ended September 30, 2025 (unaudited).

(3)Per-share amount was less than $0.005.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net Realized and Unrealized Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net Realized Gains** | **Total Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.81 | 0.22 | 0.07 | 0.29 | (0.23) |  | (0.23) | $9.87 | 2.94% | 0.57% | 4.51% | 4.51% | 91% | $293812 |
| 2025 | $9.73 | 0.45 | 0.09 | 0.54 | (0.46) |  | (0.46) | $9.81 | 5.63% | 0.56% | 4.63% | 4.63% | 272% | $291092 |
| 2024 | $9.80 | 0.41 | (0.07) | 0.34 | (0.41) |  | (0.41) | $9.73 | 3.58% | 0.58% | 4.23% | 4.22% | 310% | $364613 |
| 2023 | $10.06 | 0.27 | (0.27) |  | (0.26) |  | (0.26) | $9.80 | 0.00% | 0.59% | 2.68% | 2.67% | 187% | $353985 |
| 2022 | $10.47 | 0.14 | (0.36) | (0.22) | (0.15) | (0.04) | (0.19) | $10.06 | (2.13)% | 0.58% | 1.31% | 1.31% | 178% | $388521 |
| 2021 | $10.05 | 0.11 | 0.45 | 0.56 | (0.14) |  | (0.14) | $10.47 | 5.62% | 0.59% | 1.03% | 1.03% | 183% | $383653 |
| **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.81 | 0.23 | 0.06 | 0.29 | (0.23) |  | (0.23) | $9.87 | 2.99% | 0.47% | 4.61% | 4.61% | 91% | $156842 |
| 2025 | $9.73 | 0.46 | 0.09 | 0.55 | (0.47) |  | (0.47) | $9.81 | 5.73% | 0.46% | 4.73% | 4.73% | 272% | $144759 |
| 2024 | $9.80 | 0.42 | (0.07) | 0.35 | (0.42) |  | (0.42) | $9.73 | 3.68% | 0.48% | 4.33% | 4.32% | 310% | $167986 |
| 2023 | $10.06 | 0.28 | (0.27) | 0.01 | (0.27) |  | (0.27) | $9.80 | 0.10% | 0.49% | 2.78% | 2.77% | 187% | $215665 |
| 2022 | $10.47 | 0.15 | (0.36) | (0.21) | (0.16) | (0.04) | (0.20) | $10.06 | (2.03)% | 0.48% | 1.41% | 1.41% | 178% | $242736 |
| 2021 | $10.05 | 0.13 | 0.44 | 0.57 | (0.15) |  | (0.15) | $10.47 | 5.73% | 0.49% | 1.13% | 1.13% | 183% | $172271 |
| **A Class** | **A Class** | **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.81 | 0.21 | 0.06 | 0.27 | (0.21) |  | (0.21) | $9.87 | 2.81% | 0.82% | 4.26% | 4.26% | 91% | $14850 |
| 2025 | $9.72 | 0.43 | 0.09 | 0.52 | (0.43) |  | (0.43) | $9.81 | 5.47% | 0.81% | 4.38% | 4.38% | 272% | $16854 |
| 2024 | $9.80 | 0.39 | (0.08) | 0.31 | (0.39) |  | (0.39) | $9.72 | 3.22% | 0.83% | 3.98% | 3.97% | 310% | $20676 |
| 2023 | $10.05 | 0.24 | (0.26) | (0.02) | (0.23) |  | (0.23) | $9.80 | (0.15)% | 0.84% | 2.43% | 2.42% | 187% | $20055 |
| 2022 | $10.46 | 0.11 | (0.35) | (0.24) | (0.13) | (0.04) | (0.17) | $10.05 | (2.38)% | 0.83% | 1.06% | 1.06% | 178% | $21270 |
| 2021 | $10.05 | 0.09 | 0.44 | 0.53 | (0.12) |  | (0.12) | $10.46 | 5.26% | 0.84% | 0.78% | 0.78% | 183% | $23393 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.81 | 0.17 | 0.08 | 0.25 | (0.18) |  | (0.18) | $9.88 | 2.53% | 1.57% | 3.51% | 3.51% | 91% | $2327 |
| 2025 | $9.73 | 0.36 | 0.08 | 0.44 | (0.36) |  | (0.36) | $9.81 | 4.58% | 1.56% | 3.63% | 3.63% | 272% | $2407 |
| 2024 | $9.81 | 0.31 | (0.08) | 0.23 | (0.31) |  | (0.31) | $9.73 | 2.44% | 1.58% | 3.23% | 3.22% | 310% | $1576 |
| 2023 | $10.06 | 0.16 | (0.25) | (0.09) | (0.16) |  | (0.16) | $9.81 | (0.89)% | 1.59% | 1.68% | 1.67% | 187% | $2704 |
| 2022 | $10.47 | 0.03 | (0.35) | (0.32) | (0.05) | (0.04) | (0.09) | $10.06 | (3.10)% | 1.58% | 0.31% | 0.31% | 178% | $5099 |
| 2021 | $10.05 | 0.02 | 0.44 | 0.46 | (0.04) |  | (0.04) | $10.47 | 4.57% | 1.59% | 0.03% | 0.03% | 183% | $4514 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset<br>Value,<br>Beginning<br>of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<sup>(1)</sup> | **Net Realized and Unrealized Gain (Loss)** | **Total From<br>Investment<br>Operations** | **Net<br>Investment<br>Income** | **Net Realized Gains** | **Total Distributions** | **Net Asset<br>Value,<br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net<br>Investment<br>Income<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** | **Short Duration Fund** |
| **R Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $9.82 | 0.20 | 0.06 | 0.26 | (0.20) |  | (0.20) | $9.88 | 2.68% | 1.07% | 1.07% | 4.01% | 4.01% | 91% | $693 |
| 2025 | $9.73 | 0.40 | 0.10 | 0.50 | (0.41) |  | (0.41) | $9.82 | 5.21% | 1.06% | 1.06% | 4.13% | 4.13% | 272% | $623 |
| 2024 | $9.81 | 0.36 | (0.08) | 0.28 | (0.36) |  | (0.36) | $9.73 | 2.95% | 1.07% | 1.08% | 3.73% | 3.72% | 310% | $686 |
| 2023 | $10.06 | 0.22 | (0.26) | (0.04) | (0.21) |  | (0.21) | $9.81 | (0.39)% | 1.08% | 1.09% | 2.18% | 2.17% | 187% | $669 |
| 2022 | $10.47 | 0.08 | (0.35) | (0.27) | (0.10) | (0.04) | (0.14) | $10.06 | (2.62)% | 1.08% | 1.08% | 0.81% | 0.81% | 178% | $667 |
| 2021 | $10.06 | 0.07 | 0.43 | 0.50 | (0.09) |  | (0.09) | $10.47 | 4.99% | 1.09% | 1.09% | 0.53% | 0.53% | 183% | $937 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.81 | 0.23 | 0.07 | 0.30 | (0.24) |  | (0.24) | $9.87 | 3.04% | 0.37% | 0.37% | 4.71% | 4.71% | 91% | $10503 |
| 2025 | $9.73 | 0.47 | 0.09 | 0.56 | (0.48) |  | (0.48) | $9.81 | 5.84% | 0.36% | 0.36% | 4.83% | 4.83% | 272% | $10875 |
| 2024 | $9.80 | 0.43 | (0.07) | 0.36 | (0.43) |  | (0.43) | $9.73 | 3.78% | 0.37% | 0.38% | 4.43% | 4.42% | 310% | $11660 |
| 2023 | $10.06 | 0.29 | (0.27) | 0.02 | (0.28) |  | (0.28) | $9.80 | 0.20% | 0.38% | 0.39% | 2.88% | 2.87% | 187% | $11061 |
| 2022 | $10.47 | 0.16 | (0.36) | (0.20) | (0.17) | (0.04) | (0.21) | $10.06 | (1.93)% | 0.38% | 0.38% | 1.51% | 1.51% | 178% | $16327 |
| 2021 | $10.05 | 0.14 | 0.44 | 0.58 | (0.16) |  | (0.16) | $10.47 | 5.83% | 0.39% | 0.39% | 1.23% | 1.23% | 183% | $23320 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.80 | 0.23 | 0.07 | 0.30 | (0.24) |  | (0.24) | $9.86 | 3.07% | 0.32% | 0.32% | 4.76% | 4.76% | 91% | $76317 |
| 2025 | $9.72 | 0.48 | 0.08 | 0.56 | (0.48) |  | (0.48) | $9.80 | 5.89% | 0.31% | 0.31% | 4.88% | 4.88% | 272% | $72055 |
| 2024 | $9.79 | 0.44 | (0.07) | 0.37 | (0.44) |  | (0.44) | $9.72 | 3.84% | 0.32% | 0.33% | 4.48% | 4.47% | 310% | $72563 |
| 2023 | $10.05 | 0.29 | (0.27) | 0.02 | (0.28) |  | (0.28) | $9.79 | 0.25% | 0.33% | 0.34% | 2.93% | 2.92% | 187% | $58650 |
| 2022 | $10.46 | 0.16 | (0.35) | (0.19) | (0.18) | (0.04) | (0.22) | $10.05 | (1.89)% | 0.33% | 0.33% | 1.56% | 1.56% | 178% | $52851 |
| 2021 | $10.04 | 0.15 | 0.44 | 0.59 | (0.17) |  | (0.17) | $10.46 | 5.89% | 0.34% | 0.34% | 1.28% | 1.28% | 183% | $85404 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.80 | 0.25 | 0.07 | 0.32 | (0.25) |  | (0.25) | $9.87 | 3.33% | 0.01% | 0.32% | 5.07% | 4.76% | 91% | $549600 |
| 2025 | $9.72 | 0.51 | 0.08 | 0.59 | (0.51) |  | (0.51) | $9.80 | 6.22% | 0.01% | 0.31% | 5.18% | 4.88% | 272% | $603095 |
| 2024 | $9.79 | 0.46 | (0.06) | 0.40 | (0.47) |  | (0.47) | $9.72 | 4.16% | 0.01% | 0.33% | 4.79% | 4.47% | 310% | $718931 |
| 2023 | $10.05 | 0.32 | (0.27) | 0.05 | (0.31) |  | (0.31) | $9.79 | 0.57% | 0.01% | 0.34% | 3.25% | 2.92% | 187% | $704692 |
| 2022 | $10.46 | 0.20 | (0.36) | (0.16) | (0.21) | (0.04) | (0.25) | $10.05 | (1.57)% | 0.01% | 0.33% | 1.88% | 1.56% | 178% | $916720 |
| 2021<sup>(4)</sup> | $10.37 | 0.06 | 0.10 | 0.16 | (0.07) |  | (0.07) | $10.46 | 1.57% | 0.01% | 0.34% | 1.48% | 1.15% | 183%<sup>(5)</sup> | $990271 |

---

------

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

(4)November 4, 2020 (commencement of sale) through March 31, 2021.

(5)Portfolio turnover is calculated at the fund level. Percentage indicated was calculated for the year ended March 31, 2021.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment <br>Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income (Loss) <br>(before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in thousands)** |
| **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | |
| 2025<sup>(3)</sup> | $10.53 | 0.21 | 0.05 | 0.26 | (0.12) |  | (0.12) | $10.67 | 2.47% | 0.59% | 3.88% | 34% | $236988 |
| 2025 | $10.07 | 0.33 | 0.37 | 0.70 | (0.24) |  | (0.24) | $10.53 | 6.98% | 0.61% | 3.12% | 56% | $238342 |
| 2024 | $10.15 | 0.24 | (0.04) | 0.20 | (0.28) |  | (0.28) | $10.07 | 1.88% | 0.70% | 2.32% | 24% | $365611 |
| 2023 | $10.89 | 0.47 | (0.65) | (0.18) | (0.49) | (0.07) | (0.56) | $10.15 | (1.48)% | 0.63% | 4.46% | 32% | $515266 |
| 2022 | $10.79 | 0.49 | 0.04 | 0.53 | (0.43) |  | (0.43) | $10.89 | 4.92% | 0.56% | 4.48% | 71% | $697335 |
| 2021 | $10.01 | 0.09 | 0.78 | 0.87 | (0.09) |  | (0.09) | $10.79 | 8.68% | 0.57% | 0.95% | 29% | $338427 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.63 | 0.21 | 0.05 | 0.26 | (0.12) |  | (0.12) | $10.77 | 2.49% | 0.49% | 3.98% | 34% | $423426 |
| 2025 | $10.16 | 0.34 | 0.38 | 0.72 | (0.25) |  | (0.25) | $10.63 | 7.13% | 0.51% | 3.22% | 56% | $424038 |
| 2024 | $10.24 | 0.26 | (0.05) | 0.21 | (0.29) |  | (0.29) | $10.16 | 1.96% | 0.60% | 2.42% | 24% | $530952 |
| 2023 | $10.98 | 0.48 | (0.65) | (0.17) | (0.50) | (0.07) | (0.57) | $10.24 | (1.36)% | 0.53% | 4.56% | 32% | $836499 |
| 2022 | $10.88 | 0.50 | 0.04 | 0.54 | (0.44) |  | (0.44) | $10.98 | 4.98% | 0.46% | 4.58% | 71% | $1045280 |
| 2021 | $10.09 | 0.10 | 0.79 | 0.89 | (0.10) |  | (0.10) | $10.88 | 8.82% | 0.47% | 1.05% | 29% | $679719 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.64 | 0.22 | 0.05 | 0.27 | (0.13) |  | (0.13) | $10.78 | 2.54% | 0.39% | 4.08% | 34% | $25833 |
| 2025 | $10.17 | 0.34 | 0.39 | 0.73 | (0.26) |  | (0.26) | $10.64 | 7.23% | 0.41% | 3.32% | 56% | $16491 |
| 2024 | $10.25 | 0.24 | (0.02) | 0.22 | (0.30) |  | (0.30) | $10.17 | 2.16% | 0.50% | 2.52% | 24% | $15764 |
| 2023 | $10.99 | 0.50 | (0.66) | (0.16) | (0.51) | (0.07) | (0.58) | $10.25 | (1.36)% | 0.43% | 4.66% | 32% | $13125 |
| 2022 | $10.88 | 0.52 | 0.04 | 0.56 | (0.45) |  | (0.45) | $10.99 | 5.18% | 0.36% | 4.68% | 71% | $14941 |
| 2021 | $10.09 | 0.12 | 0.78 | 0.90 | (0.11) |  | (0.11) | $10.88 | 8.92% | 0.37% | 1.15% | 29% | $15006 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.40 | 0.19 | 0.05 | 0.24 | (0.10) |  | (0.10) | $10.54 | 2.37% | 0.84% | 3.63% | 34% | $28049 |
| 2025 | $9.96 | 0.29 | 0.37 | 0.66 | (0.22) |  | (0.22) | $10.40 | 6.67% | 0.86% | 2.87% | 56% | $27644 |
| 2024 | $10.05 | 0.20 | (0.04) | 0.16 | (0.25) |  | (0.25) | $9.96 | 1.64% | 0.95% | 2.07% | 24% | $47571 |
| 2023 | $10.78 | 0.43 | (0.63) | (0.20) | (0.46) | (0.07) | (0.53) | $10.05 | (1.75)% | 0.88% | 4.21% | 32% | $52427 |
| 2022 | $10.68 | 0.45 | 0.05 | 0.50 | (0.40) |  | (0.40) | $10.78 | 4.70% | 0.81% | 4.23% | 71% | $52695 |
| 2021 | $9.91 | 0.07 | 0.76 | 0.83 | (0.06) |  | (0.06) | $10.68 | 8.39% | 0.82% | 0.70% | 29% | $38361 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment <br>Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income (Loss) <br>(before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in thousands)** |
| **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** |
| **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | **C Class** | | |
| 2025<sup>(3)</sup> | $9.94 | 0.14 | 0.06 | 0.20 | (0.07) |  | (0.07) | $10.07 | 1.99% | 1.59% | 2.88% | 34% | $2125 |
| 2025 | $9.55 | 0.23 | 0.34 | 0.57 | (0.18) |  | (0.18) | $9.94 | 5.98% | 1.61% | 2.12% | 56% | $2403 |
| 2024 | $9.66 | 0.15 | (0.07) | 0.08 | (0.19) |  | (0.19) | $9.55 | 0.86% | 1.70% | 1.32% | 24% | $3869 |
| 2023 | $10.39 | 0.32 | (0.59) | (0.27) | (0.39) | (0.07) | (0.46) | $9.66 | (2.52)% | 1.63% | 3.46% | 32% | $8851 |
| 2022 | $10.32 | 0.34 | 0.06 | 0.40 | (0.33) |  | (0.33) | $10.39 | 3.92% | 1.56% | 3.48% | 71% | $8274 |
| 2021 | $9.59 | (0.03) | 0.76 | 0.73 | &nbsp;&nbsp;&nbsp;&nbsp; —<sup>(4)</sup> |  | —<sup>(4)</sup> | $10.32 | 7.62% | 1.57% | (0.05)% | 29% | $2378 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.63 | 0.18 | 0.05 | 0.23 | (0.09) |  | (0.09) | $10.77 | 2.20% | 1.09% | 3.38% | 34% | $15188 |
| 2025 | $10.18 | 0.27 | 0.38 | 0.65 | (0.20) |  | (0.20) | $10.63 | 6.48% | 1.11% | 2.62% | 56% | $14481 |
| 2024 | $10.27 | 0.18 | (0.04) | 0.14 | (0.23) |  | (0.23) | $10.18 | 1.35% | 1.20% | 1.82% | 24% | $16539 |
| 2023 | $11.01 | 0.44 | (0.68) | (0.24) | (0.43) | (0.07) | (0.50) | $10.27 | (2.04)% | 1.13% | 3.96% | 32% | $17660 |
| 2022 | $10.90 | 0.45 | 0.03 | 0.48 | (0.37) |  | (0.37) | $11.01 | 4.44% | 1.06% | 3.98% | 71% | $19782 |
| 2021 | $10.11 | 0.05 | 0.77 | 0.82 | (0.03) |  | (0.03) | $10.90 | 8.15% | 1.07% | 0.45% | 29% | $19408 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.63 | 0.22 | 0.05 | 0.27 | (0.13) |  | (0.13) | $10.77 | 2.54% | 0.39% | 4.08% | 34% | $104442 |
| 2025 | $10.16 | 0.34 | 0.39 | 0.73 | (0.26) |  | (0.26) | $10.63 | 7.23% | 0.41% | 3.32% | 56% | $105109 |
| 2024 | $10.25 | 0.25 | (0.04) | 0.21 | (0.30) |  | (0.30) | $10.16 | 2.06% | 0.50% | 2.52% | 24% | $110123 |
| 2023 | $10.98 | 0.50 | (0.65) | (0.15) | (0.51) | (0.07) | (0.58) | $10.25 | (1.27)% | 0.43% | 4.66% | 32% | $111102 |
| 2022 | $10.88 | 0.54 | 0.01 | 0.55 | (0.45) |  | (0.45) | $10.98 | 5.09% | 0.36% | 4.68% | 71% | $122195 |
| 2021 | $10.09 | 0.12 | 0.78 | 0.90 | (0.11) |  | (0.11) | $10.88 | 8.93% | 0.37% | 1.15% | 29% | $508447 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $10.63 | 0.22 | 0.05 | 0.27 | (0.13) |  | (0.13) | $10.77 | 2.57% | 0.34% | 4.13% | 34% | $65884 |
| 2025 | $10.16 | 0.34 | 0.39 | 0.73 | (0.26) |  | (0.26) | $10.63 | 7.29% | 0.36% | 3.37% | 56% | $48236 |
| 2024 | $10.25 | 0.24 | (0.03) | 0.21 | (0.30) |  | (0.30) | $10.16 | 2.11% | 0.45% | 2.57% | 24% | $36305 |
| 2023 | $10.98 | 0.49 | (0.64) | (0.15) | (0.51) | (0.07) | (0.58) | $10.25 | (1.22)% | 0.38% | 4.71% | 32% | $22373 |
| 2022 | $10.88 | 0.52 | 0.03 | 0.55 | (0.45) |  | (0.45) | $10.98 | 5.14% | 0.31% | 4.73% | 71% | $18725 |
| 2021 | $10.09 | 0.12 | 0.78 | 0.90 | (0.11) |  | (0.11) | $10.88 | 8.98% | 0.32% | 1.20% | 29% | $12923 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment <br>Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating <br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in thousands)** |
| **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Inflation Protection Bond Fund** |
| **G Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $10.65 | 0.24 | 0.05 | 0.29 | (0.15) |  | (0.15) | $10.79 | 2.71% | 0.03% | 0.34% | 4.44% | 4.13% | 34% | $582689 |
| 2025 | $10.18 | 0.38 | 0.38 | 0.76 | (0.29) |  | (0.29) | $10.65 | 7.60% | 0.05% | 0.36% | 3.68% | 3.37% | 56% | $631662 |
| 2024 | $10.26 | 0.28 | (0.02) | 0.26 | (0.34) |  | (0.34) | $10.18 | 2.54% | 0.14% | 0.45% | 2.88% | 2.57% | 24% | $710550 |
| 2023 | $11.00 | 0.53 | (0.65) | (0.12) | (0.55) | (0.07) | (0.62) | $10.26 | (1.01)% | 0.07% | 0.38% | 5.02% | 4.71% | 32% | $675227 |
| 2022 | $10.90 | 0.56 | 0.03 | 0.59 | (0.49) |  | (0.49) | $11.00 | 5.46% | 0.01% | 0.31% | 5.03% | 4.73% | 71% | $661759 |
| 2021 | $10.10 | 0.18 | 0.77 | 0.95 | (0.15) |  | (0.15) | $10.90 | 9.41% | 0.01% | 0.32% | 1.51% | 1.20% | 29% | $697554 |

---

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

(4)Per-share amount was less than $0.005.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net<br>Investment Income** | **Net<br>Realized<br>Gains** | **Total Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating <br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.99 | 0.22 | 0.07 | 0.29 | (0.22) |  | (0.22) | $9.06 | 3.24% | 0.52% | 0.52% | 4.83% | 4.83% | 94% | $149039 |
| 2025 | $8.90 | 0.45 | 0.10 | 0.55 | (0.46) |  | (0.46) | $8.99 | 6.28% | 0.52% | 0.52% | 5.06% | 5.06% | 162% | $147957 |
| 2024 | $8.89 | 0.43 | 0.02 | 0.45 | (0.44) |  | (0.44) | $8.90 | 5.09% | 0.52% | 0.52% | 4.90% | 4.90% | 214% | $151197 |
| 2023 | $9.34 | 0.32 | (0.45) | (0.13) | (0.32) |  | (0.32) | $8.89 | (1.24)% | 0.52% | 0.52% | 3.60% | 3.60% | 188% | $229572 |
| 2022 | $9.82 | 0.22 | (0.38) | (0.16) | (0.24) | (0.08) | (0.32) | $9.34 | (1.72)% | 0.52% | 0.52% | 2.28% | 2.28% | 120% | $255208 |
| 2021 | $9.19 | 0.23 | 0.66 | 0.89 | (0.26) |  | (0.26) | $9.82 | 9.74% | 0.52% | 0.55% | 2.36% | 2.33% | 193% | $119380 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.99 | 0.22 | 0.07 | 0.29 | (0.22) |  | (0.22) | $9.06 | 3.29% | 0.42% | 0.42% | 4.93% | 4.93% | 94% | $575276 |
| 2025 | $8.90 | 0.46 | 0.10 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.38% | 0.42% | 0.42% | 5.16% | 5.16% | 162% | $517125 |
| 2024 | $8.89 | 0.44 | 0.02 | 0.46 | (0.45) |  | (0.45) | $8.90 | 5.32% | 0.42% | 0.42% | 5.00% | 5.00% | 214% | $422157 |
| 2023 | $9.33 | 0.33 | (0.44) | (0.11) | (0.33) |  | (0.33) | $8.89 | (1.15)% | 0.42% | 0.42% | 3.70% | 3.70% | 188% | $519131 |
| 2022 | $9.82 | 0.23 | (0.39) | (0.16) | (0.25) | (0.08) | (0.33) | $9.33 | (1.62)% | 0.42% | 0.42% | 2.38% | 2.38% | 120% | $430865 |
| 2021 | $9.19 | 0.24 | 0.66 | 0.90 | (0.27) |  | (0.27) | $9.82 | 9.73% | 0.42% | 0.45% | 2.46% | 2.43% | 193% | $166606 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.99 | 0.23 | 0.07 | 0.30 | (0.23) |  | (0.23) | $9.06 | 3.34% | 0.32% | 0.32% | 5.03% | 5.03% | 94% | $1199 |
| 2025 | $8.90 | 0.47 | 0.09 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.49% | 0.32% | 0.32% | 5.26% | 5.26% | 162% | $772 |
| 2024 | $8.89 | 0.46 | 0.01 | 0.47 | (0.46) |  | (0.46) | $8.90 | 5.30% | 0.32% | 0.32% | 5.10% | 5.10% | 214% | $568 |
| 2023 | $9.34 | 0.40 | (0.51) | (0.11) | (0.34) |  | (0.34) | $8.89 | (1.07)% | 0.32% | 0.32% | 3.80% | 3.80% | 188% | $286 |
| 2022 | $9.82 | 0.25 | (0.39) | (0.14) | (0.26) | (0.08) | (0.34) | $9.34 | (1.52)% | 0.32% | 0.32% | 2.48% | 2.48% | 120% | $6 |
| 2021 | $9.19 | 0.26 | 0.65 | 0.91 | (0.28) |  | (0.28) | $9.82 | 9.93% | 0.32% | 0.35% | 2.56% | 2.53% | 193% | $5691 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.99 | 0.21 | 0.07 | 0.28 | (0.21) |  | (0.21) | $9.06 | 3.11% | 0.77% | 0.77% | 4.58% | 4.58% | 94% | $19472 |
| 2025 | $8.90 | 0.43 | 0.09 | 0.52 | (0.43) |  | (0.43) | $8.99 | 6.01% | 0.77% | 0.77% | 4.81% | 4.81% | 162% | $16973 |
| 2024 | $8.89 | 0.41 | 0.02 | 0.43 | (0.42) |  | (0.42) | $8.90 | 4.83% | 0.77% | 0.77% | 4.65% | 4.65% | 214% | $21732 |
| 2023 | $9.34 | 0.32 | (0.47) | (0.15) | (0.30) |  | (0.30) | $8.89 | (1.49)% | 0.77% | 0.77% | 3.35% | 3.35% | 188% | $26690 |
| 2022 | $9.82 | 0.20 | (0.39) | (0.19) | (0.21) | (0.08) | (0.29) | $9.34 | (1.96)% | 0.77% | 0.77% | 2.03% | 2.03% | 120% | $17050 |
| 2021 | $9.19 | 0.21 | 0.66 | 0.87 | (0.24) |  | (0.24) | $9.82 | 9.46% | 0.77% | 0.80% | 2.11% | 2.08% | 193% | $20397 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | | | | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net<br>Investment Income** | **Net<br>Realized<br>Gains** | **Total Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating <br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** | **Short Duration Strategic Income Fund** |
| **C Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $8.99 | 0.17 | 0.07 | 0.24 | (0.17) |  | (0.17) | $9.06 | 2.73% | 1.52% | 1.52% | 3.83% | 3.83% | 94% | $3088 |
| 2025 | $8.90 | 0.36 | 0.10 | 0.46 | (0.37) |  | (0.37) | $8.99 | 5.23% | 1.52% | 1.52% | 4.06% | 4.06% | 162% | $2860 |
| 2024 | $8.89 | 0.35 | 0.01 | 0.36 | (0.35) |  | (0.35) | $8.90 | 4.05% | 1.52% | 1.52% | 3.90% | 3.90% | 214% | $2433 |
| 2023 | $9.34 | 0.23 | (0.45) | (0.22) | (0.23) |  | (0.23) | $8.89 | (2.23)% | 1.52% | 1.52% | 2.60% | 2.60% | 188% | $2722 |
| 2022 | $9.82 | 0.13 | (0.39) | (0.26) | (0.14) | (0.08) | (0.22) | $9.34 | (2.70)% | 1.52% | 1.52% | 1.28% | 1.28% | 120% | $3550 |
| 2021 | $9.19 | 0.14 | 0.65 | 0.79 | (0.16) |  | (0.16) | $9.82 | 8.65% | 1.52% | 1.55% | 1.36% | 1.33% | 193% | $2926 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.00 | 0.20 | 0.07 | 0.27 | (0.20) |  | (0.20) | $9.07 | 2.98% | 1.02% | 1.02% | 4.33% | 4.33% | 94% | $699 |
| 2025 | $8.91 | 0.41 | 0.09 | 0.50 | (0.41) |  | (0.41) | $9.00 | 5.75% | 1.02% | 1.02% | 4.56% | 4.56% | 162% | $761 |
| 2024 | $8.90 | 0.39 | 0.02 | 0.41 | (0.40) |  | (0.40) | $8.91 | 4.69% | 1.02% | 1.02% | 4.40% | 4.40% | 214% | $901 |
| 2023 | $9.34 | 0.30 | (0.46) | (0.16) | (0.28) |  | (0.28) | $8.90 | (1.74)% | 1.02% | 1.02% | 3.10% | 3.10% | 188% | $532 |
| 2022 | $9.82 | 0.18 | (0.39) | (0.21) | (0.19) | (0.08) | (0.27) | $9.34 | (2.21)% | 1.02% | 1.02% | 1.78% | 1.78% | 120% | $187 |
| 2021 | $9.19 | 0.18 | 0.66 | 0.84 | (0.21) |  | (0.21) | $9.82 | 9.20% | 1.02% | 1.05% | 1.86% | 1.83% | 193% | $363 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $8.99 | 0.23 | 0.07 | 0.30 | (0.23) |  | (0.23) | $9.06 | 3.34% | 0.32% | 0.32% | 5.03% | 5.03% | 94% | $208 |
| 2025 | $8.90 | 0.47 | 0.09 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.49% | 0.32% | 0.32% | 5.26% | 5.26% | 162% | $205 |
| 2024 | $8.89 | 0.45 | 0.02 | 0.47 | (0.46) |  | (0.46) | $8.90 | 5.30% | 0.32% | 0.32% | 5.10% | 5.10% | 214% | $230 |
| 2023 | $9.34 | 0.35 | (0.46) | (0.11) | (0.34) |  | (0.34) | $8.89 | (1.05)% | 0.32% | 0.32% | 3.80% | 3.80% | 188% | $329 |
| 2022 | $9.82 | 0.24 | (0.38) | (0.14) | (0.26) | (0.08) | (0.34) | $9.34 | (1.52)% | 0.32% | 0.32% | 2.48% | 2.48% | 120% | $131 |
| 2021 | $9.19 | 0.24 | 0.67 | 0.91 | (0.28) |  | (0.28) | $9.82 | 9.84% | 0.32% | 0.35% | 2.56% | 2.53% | 193% | $26 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $9.00 | 0.23 | 0.06 | 0.29 | (0.23) |  | (0.23) | $9.06 | 3.25% | 0.27% | 0.27% | 5.08% | 5.08% | 94% | $16596 |
| 2025 | $8.91 | 0.48 | 0.09 | 0.57 | (0.48) |  | (0.48) | $9.00 | 6.54% | 0.27% | 0.27% | 5.31% | 5.31% | 162% | $15140 |
| 2024 | $8.90 | 0.46 | 0.01 | 0.47 | (0.46) |  | (0.46) | $8.91 | 5.48% | 0.27% | 0.27% | 5.15% | 5.15% | 214% | $11671 |
| 2023 | $9.34 | 0.36 | (0.46) | (0.10) | (0.34) |  | (0.34) | $8.90 | (1.00)% | 0.27% | 0.27% | 3.85% | 3.85% | 188% | $9165 |
| 2022 | $9.82 | 0.25 | (0.39) | (0.14) | (0.26) | (0.08) | (0.34) | $9.34 | (1.47)% | 0.27% | 0.27% | 2.53% | 2.53% | 120% | $3008 |
| 2021 | $9.19 | 0.27 | 0.64 | 0.91 | (0.28) |  | (0.28) | $9.82 | 10.01% | 0.27% | 0.30% | 2.61% | 2.58% | 193% | $267 |

---

------

**Notes to Financial Highlights**

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(3)Six months ended September 30, 2025 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended March 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Distributions**<br>**From**<br>**Net**<br>**Investment**<br>**Income** | **Net Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Operating**<br>**Expenses**<br>**(before**<br>**expense**<br>**waiver)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)** | **Net**<br>**Investment**<br>**Income**<br>**(Loss)**<br>**(before**<br>**expense**<br>**waiver)** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** | **U.S. Government Money Market Fund** |
| **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 2.00% | 0.45% | 0.45% | 3.95% | 3.95% | $838914 |
| 2025 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 4.64% | 0.45% | 0.45% | 4.56% | 4.56% | $642965 |
| 2024 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 4.97% | 0.46% | 0.46% | 4.87% | 4.87% | $578368 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 2.22% | 0.46% | 0.46% | 2.21% | 2.21% | $555354 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.10% | 0.45% | 0.01% | (0.34)% | $582093 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.02% | 0.16% | 0.45% | 0.02% | (0.27)% | $583956 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.87% | 0.70% | 0.70% | 3.70% | 3.70% | $66723 |
| 2025 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 4.38% | 0.70% | 0.70% | 4.31% | 4.31% | $77256 |
| 2024 | $1.00 | 0.05 | —<sup>(3)</sup> | 0.05 | (0.05) | $1.00 | 4.71% | 0.71% | 0.71% | 4.62% | 4.62% | $67102 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.99% | 0.69% | 0.71% | 1.98% | 1.96% | $79333 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.10% | 0.70% | 0.01% | (0.59)% | $78959 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.16% | 0.70% | 0.02% | (0.52)% | $89103 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(2)</sup> | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.62% | 1.20% | 1.20% | 3.20% | 3.20% | $228 |
| 2025 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 3.86% | 1.20% | 1.20% | 3.81% | 3.81% | $259 |
| 2024 | $1.00 | 0.04 | —<sup>(3)</sup> | 0.04 | (0.04) | $1.00 | 4.19% | 1.21% | 1.21% | 4.12% | 4.12% | $299 |
| 2023 | $1.00 | 0.02 | —<sup>(3)</sup> | 0.02 | (0.02) | $1.00 | 1.58% | 1.13% | 1.21% | 1.54% | 1.46% | $306 |
| 2022 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.10% | 1.20% | 0.01% | (1.09)% | $231 |
| 2021 | $1.00 | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | —<sup>(3)</sup> | $1.00 | 0.01% | 0.17% | 1.20% | 0.01% | (1.02)% | $196 |

---

**Notes to Financial Highlights**

(1)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

(2)Six months ended September 30, 2025 (unaudited).

(3)Per-share amount was less than $0.005.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.

------

Approval of Management and Subadvisory Agreements

At a meeting held on June 17, 2025, the Funds' Board of Trustees (the "Board") unanimously approved the renewal of the management agreements pursuant to which American Century Investment Management, Inc. (the "Advisor") acts as the investment advisor for each Fund. The Board also unanimously approved the renewal of the investment subadvisory agreement pursuant to which Nomura Corporate Research and Asset Management, Inc. (the "Subadvisor") acts as subadvisor to the High Income Fund. Under the Investment Company Act of 1940 (the "Investment Company Act"), contracts for investment advisory services are required to be reviewed, evaluated, and approved by a majority of a fund's Trustees, including a majority of the independent Trustees. The Board regards this annual evaluation and renewal as one of its most important responsibilities.

The independent Trustees have memorialized a statement regarding the relationship between their ongoing obligations to oversee and evaluate the performance of the Advisor and their annual consideration of renewal of the management agreements. In that statement, the independent Trustees noted that their assessment of the Advisor's performance is an ongoing process that takes place over the entire year and is informed by all of the extensive information that the Board and its committees receive and consider over time. This information, together with the additional materials provided specifically in connection with the review, are central to the Board's assessment of the Advisor's performance and its determination whether to renew each Fund's management agreement.

Prior to its consideration of the renewal of the management agreements and the subadvisory agreement, the Board requested and reviewed data and analysis relating to the proposed renewals. This information and analysis was compiled by the Advisor, the Subadvisor, and certain independent data providers concerning each Fund.

In connection with its consideration of the renewal of the management agreements and the subadvisory agreement, the Board's review and evaluation of the services provided by the Advisor and its affiliates, and the Subadvisor, included, but was not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the nature, extent, and quality of investment management, shareholder services, distribution services, and other services provided to each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the wide range of programs and services the Advisor and other service providers provide to each Fund and its shareholders on a routine and non-routine basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each Fund's investment performance compared to appropriate benchmarks and/or peer groups of other mutual funds with similar investment objectives and strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of owning each Fund compared to the cost of owning similarly-managed funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's compliance policies, procedures, and regulatory experience and those of the Subadvisor and certain other service providers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's strategic plans, generally, and with respect to the Advisor's response to investment management industry challenges;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's business continuity plans, vendor management practices, and information security practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of services provided to each Fund, the profitability of the Funds to the Advisor, and the Advisor's financial results of operation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• possible economies of scale associated with the Advisor's management of each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any collateral benefits derived by the Advisor from the management of each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fees and expenses associated with any investment by each Fund in other funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• payments to intermediaries by each Fund and the Advisor and services provided by intermediaries in connection therewith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• services provided and charges to the Advisor's other investment management clients.

In keeping with its practice, the Board held two meetings and the independent Trustees met in private sessions to discuss the renewals and to review and discuss the information provided in response to their request. The Board held active discussions with the Advisor regarding the renewal of the management agreements and the subadvisory agreement. The independent Trustees had the benefit of the advice of their independent counsel throughout the process.

**Factors Considered** 

The Trustees considered all of the information provided by the Advisor, the Subadvisor, the independent data providers, and the independent Trustees' independent counsel in connection with the approval. They determined that the information was sufficient for them to evaluate the management agreement for each Fund and the subadvisory agreement for the High Income Fund. In connection with their review, the Trustees did not identify any single factor as being all-important or controlling and each Trustee may have attributed different levels of importance to different factors. In deciding to renew the management agreements and subadvisory agreement, the Board based its decision on a number of factors, including the following:

**Nature, Extent and Quality of Services — Generally.** Under the management agreement, the Advisor is responsible for providing or arranging for all services necessary for the operation of each Fund. The Board noted that the Advisor provides or arranges at its own expense a wide variety of services including, but not limited to:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• constructing and designing each Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• portfolio research and security selection

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• initial capitalization/funding

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• securities trading

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fund administration

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• custody of Fund assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• daily valuation of each Fund's portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity monitoring and management

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risk management, including information security

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• shareholder servicing and transfer agency, including shareholder confirmations, recordkeeping, and communications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• legal services (except the independent Trustees' counsel)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulatory and portfolio compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• financial reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• marketing and distribution (except amounts paid by each Fund under Rule 12b-1 plans)

The Board noted that many of these services have expanded over time in terms of both quantity and complexity in response to shareholder demands, competition in the industry, changing distribution channels, and the changing regulatory environment.

**Investment Management Services.** The nature of the investment management services provided to each Fund is quite complex and allows Fund shareholders access to professional money management, instant diversification of their investments, the opportunity to easily diversify among asset classes by investing in or exchanging among various American Century Investments funds, and liquidity. In evaluating investment performance, the Board expects the Advisor, and for the High Income Fund, the Subadvisor, to manage each Fund in accordance with its investment objectives and principal investment strategies. Further, the Trustees recognize that the Advisor and the Subadvisor have an obligation to seek the best execution of fund trades. In providing these services, the Advisor and the Subadvisor utilize teams of investment professionals who require extensive information technology, research, training, compliance, and other systems to conduct their business. The Board, directly and through its Portfolio Committee, regularly reviews investment performance information for each Fund, together with comparative information for appropriate benchmarks and/or peer groups of similarly-managed funds, over different time horizons. The Trustees also review investment performance information during the management agreement renewal process. If performance concerns are identified, a Fund receives special reviews until performance improves, during which the Board discusses with the Advisor and/or the Subadvisor the reasons for such results and any actions being taken to improve performance. The Board found the investment management services provided by the Advisor to each Fund, and the Subadvisor for the High Income Fund, to be satisfactory and consistent with the respective management and subadvisory agreements.

**Shareholder and Other Services.** Under the management agreements, the Advisor, either directly or through affiliates or third parties, provides each Fund with a comprehensive package of transfer agency, shareholder, and other services. The Board, directly and through its various committees, regularly reviews reports and evaluations of such services at its regular meetings. These reports include, but are not limited to, information regarding the operational efficiency and accuracy of the shareholder and transfer agency services provided, staffing levels, shareholder satisfaction, technology support (including information security), new products and services offered to Fund shareholders, securities trading activities, portfolio valuation services, risk management, auditing services, and legal and operational compliance activities. The Board found the services provided by the Advisor to each Fund under its respective management agreement to be competitive and of high quality.

**Costs of Services and Profitability.** The Advisor provides detailed information concerning its cost of providing various services to each Fund, its profitability in managing each Fund, and its financial results of operation. The Trustees have reviewed with the Advisor the methodology used to prepare this financial information. This information is considered in evaluating the Advisor's financial condition, its ability to continue to provide services under each management agreement, and the reasonableness of the terms of each current management agreement. The Board concluded that the Advisor's profits were reasonable in light of the services provided to each Fund. The Board did not consider the profitability of the Subadvisor because the Subadvisor is paid from the unified management fee of the Advisor as a result of arms' length negotiations.

**Ethics.** The Board generally considers the Advisor's commitment to providing quality services to shareholders and to conducting its business ethically. They noted that the Advisor's practices generally meet or exceed industry best practices.

**Economies of Scale.** The Board also reviewed information provided by the Advisor regarding the possible existence of economies of scale in connection with the management of each Fund. The Board concluded that economies of scale are difficult to measure and predict with precision, especially on a fund-by-fund basis. The Board concluded that the Advisor is appropriately sharing economies of scale, to the extent they exist, through its fee structure and through reinvestment in its business, infrastructure, investment capabilities and initiatives to provide shareholders enhanced and expanded services.

**Comparison to Other Funds' Fees.** The management agreements provide that each Fund pays the Advisor a single, all-inclusive (or unified) management fee for providing all services necessary for the management and operation of each Fund, other than brokerage and other

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transaction fees and expenses relating to acquisition and disposition of portfolio securities, acquired fund fees and expenses, taxes, interest, extraordinary expenses, fund litigation expenses, fees and expenses of the Funds' independent Trustees (including their independent legal counsel), and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Investment Company Act Rule 12b-1. The Board specifically noted that the subadvisory fee paid to the Subadvisor and the terms of the Subadvisory Agreement were subject to arms' length negotiation between the Advisor and the Subadvisor and are paid by the Advisor out of its unified management fee. Under this unified fee structure, the Advisor is responsible for providing investment advisory, custody, audit, administrative, compliance, recordkeeping, marketing, and shareholder services, or arranging and supervising third parties to provide such services. By contrast, most other funds are charged a variety of fees, including an investment advisory fee, a transfer agency fee, an administrative fee, and other expenses. Other than their investment advisory fees and any applicable Rule 12b-1 distribution fees, all other components of the total fees charged by these other funds may be increased without shareholder approval. The Board believes the unified fee structure is a benefit to Fund shareholders because it clearly discloses to shareholders the cost of owning Fund shares, and, since the unified fee cannot be increased without a vote of Fund shareholders, it shifts to the Advisor the risk of increased costs of operating each Fund and provides a direct incentive to minimize administrative inefficiencies. Part of the Board's analysis of fee levels involves reviewing certain evaluative data compiled by an independent provider and comparing each Fund's unified fee to the total expense ratio of peer funds. The Board concluded that the management fee paid by each Fund to the Advisor under its respective management agreement is reasonable in light of the services provided to the Funds.

**Comparison to Fees and Services Provided to Other Clients of the Advisor.** The Board also requested and received information from the Advisor concerning the nature of the services, fees, costs, and profitability of its advisory services to advisory clients other than the Funds. They observed that these varying types of client accounts require different services and involve different regulatory and entrepreneurial risks than the management of the Funds. The Board analyzed this information and concluded that the fees charged and services provided to the Funds were reasonable by comparison.

**Payments to Intermediaries.** The Trustees also requested and received a description of payments made to intermediaries by each Fund and the Advisor and services provided by intermediaries. These payments include various payments made by each Fund or the Advisor to different types of intermediaries and recordkeepers for distribution and service activities provided with respect to each Fund. The Trustees reviewed such information and received representations from the Advisor that all such payments by the Funds were made pursuant to the Funds' Rule 12b-1 Plan and that all such payments by the Advisor were made from the Advisor's resources and reasonable profits.

**Collateral or "Fall-Out" Benefits Derived by the Advisor.** The Board considered the possible existence of collateral benefits the Advisor may receive as a result of its relationship with each Fund. The Board noted that the Advisor's primary business is managing funds and it generally does not use fund or shareholder information to generate profits in other lines of business, and therefore does not derive any significant collateral benefits from them. The Board noted that the Advisor may receive proprietary research from broker-dealers that execute fund portfolio transactions. The Board also determined that the Advisor is able to provide investment management services to certain clients other than the Funds, at least in part, due to its existing infrastructure built to serve the fund complex. Where applicable, assets of other client accounts are included with the assets of certain Funds to determine breakpoints in each such Fund's management fee schedule.

**Existing Relationships.** The Board also considered whether there was any reason for not continuing the existing arrangements with the Advisor and the Subadvisor. In this regard, the Board was mindful of the potential disruptions of each Fund's operations and various risks, uncertainties, and other effects that could occur as a result of a decision not to continue such relationships. In particular, the Board recognized that most shareholders have invested in each Fund on the strength of the Advisor's and/or the Subadvisor's industry standing and reputation and in the expectation that the Advisor, and the Subadvisor for the High Income Fund, will have a continuing role in providing advisory services to the Funds, as applicable.

Set forth below are certain of the Fund-specific factors that the Board considered in addition to the other factors described herein:

**Core Plus Fund** - The Fund's performance was above its benchmark for the one-, five-, and ten-year periods and below its benchmark for the three-year period reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe.

**Diversified Bond Fund** - The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense group.

**High Income Fund** - The Fund's performance was above its benchmark for the three-, five-, and ten-year periods and below its benchmark for the one-year period reviewed by the Board. The Board discussed the Fund's performance with the Advisor and was satisfied with the efforts being undertaken by the Advisor. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense group.

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**High Yield Fund** - The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The Board discussed the Fund's performance with the Advisor and was satisfied with the efforts being undertaken by the Advisor. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe.

**Multisector Income Fund** - The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe.

**Prime Money Market Fund** - The Fund's performance was above its peer group median for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense group.

**Short Duration Fund** - The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense group.

**Short Duration Inflation Protection Bond Fund** - The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense group.

**Short Duration Strategic Income Fund** - The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe.

**U.S. Government Money Market Fund** - The Fund's performance was above its peer group median for the one-, three-, five-, and ten-year periods reviewed by the Board. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe.

**Conclusion of the Trustees.** As a result of this process, the Board, including all of the independent Trustees, taking into account all of the factors discussed above and the information provided by the Advisor, the Advisor's affiliates, the Subadvisor, and others in connection with its review and received over time, concluded that the terms of the management agreements and the subadvisory agreement are fair and reasonable and that the management fee charged to each Fund is reasonable in light of the services provided and that the management agreement between each Fund and the Advisor and the subadvisory agreement between the High Income Fund and the Subadvisor should be renewed for an additional one-year period.

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| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>or 816-531-5575 |
| Banks and Trust Companies, Broker-Dealers, Financial Professionals, Insurance Companies | 1-800-345-6488 |
| *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* | *This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.* |
| **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-90813 2511** | **©2025 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-90813 2511** |

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(b) The information required by Item 13 of Form N-1A is included as part of the financial statements filed under Item 7(a) of this Form.

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

The remuneration paid to directors, officers and others is included as part of the financial statements and other information filed under Item 7 of this Form.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

A statement regarding the basis for the board of directors' approval of the investment advisory contract is included as part of the financial statements and other information filed under Item 7 of this Form.<br>

**ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.**

Not applicable.

**ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.**

During the reporting period, there were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board.

**ITEM 16. CONTROLS AND PROCEDURES.**

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(a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.**

(a) Not applicable.

(b) Not applicable.

**ITEM 19. EXHIBITS.** 

(a)(1) Not applicable for semiannual report filings.

(a)(2) Not applicable for semiannual report filings.

(a)(3) <u>[Separate certifications by the registrant's principal executive officer and principal financial officer](acitex-99cert.htm)</u>, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as EX-99.CERT.

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) <u>[A certification by the registrant's chief executive officer and chief financial officer](acitex-99906cert.htm)</u>, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is furnished and attached hereto as EX- 99.906CERT.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
| Registrant: | American Century Investment Trust | American Century Investment Trust |
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
| Date: | November 26, 2025 | November 26, 2025 |

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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
|  |  | (principal executive officer) |
| Date: | November 26, 2025 | November 26, 2025 |

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---

| | | |
|:---|:---|:---|
| By: | /s/ R. Wes Campbell | /s/ R. Wes Campbell |
|  | Name: | R. Wes Campbell |
|  | Title: | Treasurer and |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |
| Date: | November 26, 2025 | November 26, 2025 |

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## Ex-99

EX-99.CERT

CERTIFICATIONS

I, Patrick Bannigan, certify that:

1. I have reviewed this report on Form N-CSR of American Century Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: | November 26, 2025 |
| /s/ Patrick Bannigan | /s/ Patrick Bannigan |
| Patrick Bannigan | Patrick Bannigan |
| President | President |
| (principal executive officer) | (principal executive officer) |

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I, R. Wes Campbell, certify that:

1. I have reviewed this report on Form N-CSR of American Century Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: | November 26, 2025 |
| /s/ R. Wes Campbell | /s/ R. Wes Campbell |
| R. Wes Campbell | R. Wes Campbell |
| Treasurer and Chief Financial Officer | Treasurer and Chief Financial Officer |
| (principal financial officer) | (principal financial officer) |

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## Exhibit 99.906

EX-99.906CERT

**CERTIFICATION** 

**<u>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</u>**

In connection with the shareholder report of American Century Investment Trust (the "Registrant") on Form N-CSR for the period ending September 30, 2025 (the "Report"), we, the undersigned, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

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| | | | |
|:---|:---|:---|:---|
| Date: | November 26, 2025 |  |  |
|  |  | By: | /s/ Patrick Bannigan |
|  |  |  | Patrick Bannigan |
|  |  |  | President |
|  |  |  | (chief executive officer) |
|  |  | By: | /s/ R. Wes Campbell |
|  |  |  | R. Wes Campbell |
|  |  |  | Treasurer and Chief Financial Officer |
|  |  |  | (chief financial officer) |

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