# EDGAR Filing Document

**Accession Number:** 0000908406
**File Stem:** 0000908406-26-000002
**Filing Date:** 2026-5
**Character Count:** 1110372
**Document Hash:** a89c00d3f40a0853e47d18069509ae9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000908406-26-000002.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000908406-26-000002

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 84

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**EFFECTIVENESS DATE**: 20260528

**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-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07822
- **FILM NUMBER:** 261030860

**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           |
| C000270187 | G Class        | AGJXX           |

### 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'? ck0000908406-20260331

**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: | **03-31-2026** | **03-31-2026** | **03-31-2026** | **03-31-2026** |

---

------

**ITEM 1. REPORTS TO STOCKHOLDERS.**

(a) ------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ACCNX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $56 | 0.55% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund Investor Class returned 4.70% for the reporting period ended March 31, 2026. | Core Plus Fund Investor Class returned 4.70% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![5497558138891](ck0000908406-20260331_g2.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 4.70% | 0.14% | 1.85% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932493

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ACCTX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $46 | 0.45% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund I Class returned 4.80% for the reporting period ended March 31, 2026. | Core Plus Fund I Class returned 4.80% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g4.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 4.80% | 0.24% | 1.93% | 4/10/17 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.82% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J101

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACCQX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $82 | 0.80% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund A Class returned 4.44% for the reporting period ended March 31, 2026. | Core Plus Fund A Class returned 4.44% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g5.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 4.44% | -0.11% | 1.59% |
| **A Class - with sales charge** | -0.26% | -1.03% | 1.13% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932543

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ACCKX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $158 | 1.55% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund C Class returned 3.66% for the reporting period ended March 31, 2026. | Core Plus Fund C Class returned 3.66% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g6.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 3.66% | -0.86% | 0.84% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932527

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ACCPX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $107 | 1.05% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund R Class returned 4.06% for the reporting period ended March 31, 2026. | Core Plus Fund R Class returned 4.06% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g7.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 4.06% | -0.36% | 1.34% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932519

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACCUX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $36 | 0.35% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund R5 Class returned 4.90% for the reporting period ended March 31, 2026. | Core Plus Fund R5 Class returned 4.90% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g8.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 4.90% | 0.36% | 2.05% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932485

------

**ANNUAL SHAREHOLDER REPORT**

Core Plus Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACCYX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Core Plus Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Core Plus Fund G Class returned 5.28% for the reporting period ended March 31, 2026. | Core Plus Fund G Class returned 5.28% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an out-of-index position in high-yield corporates and an overweight in the securitized sector were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection slightly contributed to portfolio performance. Our choices in the investment-grade credit sector and among agency mortgage-backed securities aided results and more than offset negative effects in the securitized credit and emerging markets sectors. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *November 4, 2020 through March 31, 2026* |

---

![10](ck0000908406-20260331_g9.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **G Class** | 5.28% | 0.71% | 0.57% | 11/4/20 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | -0.25% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $385822231 |
| Management Fees (dollars paid during the reporting period) | $2243867 |
| Portfolio Turnover Rate | 171% |
| Total Number of Portfolio Holdings | 594 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 37.1% |
| U.S. Government Agency Mortgage-Backed Securities | 24.7% |
| Collateralized Mortgage Obligations | 11.7% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 6.0% |
| Sovereign Governments and Agencies | 3.2% |
| Preferred Securities | 2.3% |
| Commercial Mortgage-Backed Securities | 2.3% |
| Municipal Securities | 1.3% |
| U.S. Treasury Securities | 1.2% |
| Collateralized Loan Obligations | 0.6% |
| Short-Term Investments | 0.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932113

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ADFIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $61 | 0.60% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund Investor Class returned 4.37% for the reporting period ended March 31, 2026. | Diversified Bond Fund Investor Class returned 4.37% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g10.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 4.37% | 0.07% | 1.48% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932402

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ACBPX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $41 | 0.40% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund I Class returned 4.58% for the reporting period ended March 31, 2026. | Diversified Bond Fund I Class returned 4.58% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g11.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **I Class** | 4.58% | 0.30% | 1.69% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932600

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ADVYX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $38 | 0.37% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund Y Class returned 4.61% for the reporting period ended March 31, 2026. | Diversified Bond Fund Y Class returned 4.61% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g12.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Y Class** | 4.61% | 0.33% | 1.80% | 4/10/17 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.82% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J309

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ADFAX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $87 | 0.85% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund A Class returned 4.11% for the reporting period ended March 31, 2026. | Diversified Bond Fund A Class returned 4.11% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g13.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 4.11% | -0.18% | 1.22% |
| **A Class - with sales charge** | -0.57% | -1.09% | 0.75% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932501

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (CDBCX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $163 | 1.60% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund C Class returned 3.23% for the reporting period ended March 31, 2026. | Diversified Bond Fund C Class returned 3.23% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g14.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 3.23% | -0.92% | 0.46% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932824

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ADVRX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $112 | 1.10% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund R Class returned 3.85% for the reporting period ended March 31, 2026. | Diversified Bond Fund R Class returned 3.85% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g15.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 3.85% | -0.42% | 0.97% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932717

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ADRVX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $41 | 0.40% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund R5 Class returned 4.60% for the reporting period ended March 31, 2026. | Diversified Bond Fund R5 Class returned 4.60% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

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![10](ck0000908406-20260331_g16.jpg)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **R5 Class** | 4.60% | 0.29% | 1.78% | 4/10/17 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.82% |  |

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*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

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**Fund Holdings**

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| | |
|:---|:---|
| **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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J200

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ADDVX)** | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $36 | 0.35% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund R6 Class returned 4.63% for the reporting period ended March 31, 2026. | Diversified Bond Fund R6 Class returned 4.63% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g17.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R6 Class** | 4.63% | 0.33% | 1.73% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932410

------

**ANNUAL SHAREHOLDER REPORT**

Diversified Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACDOX)** | **March 31, 2026** |

---

This annual shareholder report contains important information about Diversified Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Diversified Bond Fund G Class returned 4.99% for the reporting period ended March 31, 2026. | Diversified Bond Fund G Class returned 4.99% for the reporting period ended March 31, 2026. |
| The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund seeks a high level of income primarily from a mix of high-quality U.S. bonds. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve (Fed) rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our sector allocation decisions broadly aided performance. An underweight position versus the index in nominal government securities, an overweight in the securitized sector and an out-of-index position in high-yield corporates were key contributors. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, security selection modestly contributed to performance. Our choices in the investment-grade credit sector and among emerging markets bonds were top contributors. These results more than offset the negative security selection effects in the securitized sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy generated positive results overall. This was largely due to carry and yield curve roll-down effects in the U.S. and duration positioning in non-U.S. developed markets. These results more than offset a modest detraction from our U.S. duration positioning. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *May 19, 2022 through March 31, 2026* |

---

![10](ck0000908406-20260331_g18.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | Since Inception | Inception Date |
| **G Class** | 4.99% | 2.78% | 5/19/22 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 2.52% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $3922350249 |
| Management Fees (dollars paid during the reporting period) | $7178625 |
| Portfolio Turnover Rate | 161% |
| Total Number of Portfolio Holdings | 488 |

---

**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 | 25.6% |
| Corporate Bonds | 23.4% |
| U.S. Treasury Securities | 15.4% |
| Collateralized Mortgage Obligations | 12.5% |
| Asset-Backed Securities | 9.8% |
| Convertible Preferred Securities | 3.9% |
| Sovereign Governments and Agencies | 2.4% |
| Commercial Mortgage-Backed Securities | 2.1% |
| Municipal Securities | 1.2% |
| Preferred Securities | 1.1% |
| Collateralized Loan Obligations | 0.5% |
| Short-Term Investments | 4.4% |
| Other Assets and Liabilities | (2.3)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J788

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

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| | |
|:---|:---|
| **Investor Class (AHIVX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $81 | 0.78% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund Investor Class returned 7.00% for the reporting period ended March 31, 2026. | High Income Fund Investor Class returned 7.00% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *October 2, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g19.jpg)

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Investor Class** | 7.00% | 3.98% | 4.71% | 10/2/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.68% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.68% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932170

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AHIIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $70 | 0.68% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund I Class returned 7.11% for the reporting period ended March 31, 2026. | High Income Fund I Class returned 7.11% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *October 2, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g20.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 7.11% | 4.10% | 4.82% | 10/2/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.68% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.68% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932162

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (NPHIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $60 | 0.58% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund Y Class returned 7.22% for the reporting period ended March 31, 2026. | High Income Fund Y Class returned 7.22% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g21.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Y Class** | 7.22% | 4.21% | 6.17% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| The class performance shown for periods prior to October 2, 2017 represents the performance of Class I shares of the Nomura High Yield Fund, a series of The Advisors' Inner Circle Fund III. The Nomura High Yield Fund returns in the performance table and graph have not been adjusted to reflect the expenses of the class. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932154

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AHIAX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $106 | 1.03% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund A Class returned 6.74% for the reporting period ended March 31, 2026. | High Income Fund A Class returned 6.74% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *October 2, 2017 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g22.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **A Class** | 6.74% | 3.72% | 4.45% | 10/2/17 |
| **A Class - with sales charge** | 1.94% | 2.77% | 3.89% | 10/2/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.68% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.68% |  |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932147

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AHIEX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $60 | 0.58% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund R5 Class returned 7.22% for the reporting period ended March 31, 2026. | High Income Fund R5 Class returned 7.22% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *October 2, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g23.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **R5 Class** | 7.22% | 4.21% | 4.92% | 10/2/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.68% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.68% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932139

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AHIDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $55 | 0.53% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund R6 Class returned 7.15% for the reporting period ended March 31, 2026. | High Income Fund R6 Class returned 7.15% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *October 2, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g24.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **R6 Class** | 7.15% | 4.23% | 4.96% | 10/2/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.68% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.68% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932121

------

**ANNUAL SHAREHOLDER REPORT**

High Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ACHFX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High Income Fund G Class returned 7.83% for the reporting period ended March 31, 2026. | High Income Fund G Class returned 7.83% for the reporting period ended March 31, 2026. |
| The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). | The fund seeks current yield and capital growth primarily from high-yield corporate bonds. The commentary below refers to the fund's performance compared to the ICE BofA U.S. High Yield Constrained Index (Unhedged). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Shifting tariff policies, geopolitical disruption, volatile commodity prices and the closely watched Federal Reserve easing cycle rattled market sentiment during the period. Then, late in the period, technology sector cross currents, private credit market default concerns and the Middle East conflict added to the uncertainty. Nevertheless, high-yield credit fundamentals remained resilient, and technical factors, including supply/demand dynamics, generally supported the asset class. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection across market segments drove portfolio performance. These positive results more than outweighed slightly negative effects of overweight positions versus the index in lower-credit-quality issuers, which lagged higher-rated credits. Key sector contributors included wireline telecommunications, media content and printing and publishing. An underweight position in the software/services sector also helped. Artificial intelligence (AI) disintermediation and private credit worries weighed on the sector. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Specialty retail was the main sector detractor, largely due to LYCRA bonds, which declined sharply after a proposed sale of the spandex manufacturer failed to close. The company ultimately filed for a pre-negotiated bankruptcy that favored creditors with higher security priority over bondholders. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | We preferred companies in pick-and-shovel sectors supported by AI investment spending, such as utilities and telecommunications. We also favored the energy sector, which benefited from higher commodity prices fueled by the Iran war. We reduced issuers with downside exposure to the rollout of AI-based products. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *May 19, 2022 through March 31, 2026* |

---

![10](ck0000908406-20260331_g25.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | Since Inception | Inception Date |
| **G Class** | 7.83% | 8.10% | 5/19/22 |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 2.52% |  |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 7.47% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1837269268 |
| Management Fees (dollars paid during the reporting period) | $6485393 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 1340 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 95.8% |
| Bank Loan Obligations | 0.9% |
| Preferred Securities | 0.9% |
| Common Stocks | 0.5% |
| Convertible Preferred Securities | 0.1% |
| Convertible Bonds | 0.0% |
| Warrants | 0.0% |
| Escrow Interests | 0.0% |
| Short-Term Investments | 0.7% |
| Other Assets and Liabilities | 1.1% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J770

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ABHIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $72 | 0.70% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund Investor Class returned 7.13% for the reporting period ended March 31, 2026. | High-Yield Fund Investor Class returned 7.13% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g26.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 7.13% | 3.06% | 4.69% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932808

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AHYHX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $62 | 0.60% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund I Class returned 7.02% for the reporting period ended March 31, 2026. | High-Yield Fund I Class returned 7.02% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g27.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 7.02% | 3.17% | 3.92% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.87% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J507

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (AHYLX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $52 | 0.50% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund Y Class returned 7.34% for the reporting period ended March 31, 2026. | High-Yield Fund Y Class returned 7.34% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g28.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Y Class** | 7.34% | 3.30% | 4.02% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 4.87% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J606

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AHYVX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $98 | 0.95% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund A Class returned 6.87% for the reporting period ended March 31, 2026. | High-Yield Fund A Class returned 6.87% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g29.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 6.87% | 2.80% | 4.43% |
| **A Class - with sales charge** | 2.06% | 1.86% | 3.95% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932881

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AHDCX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $175 | 1.70% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund C Class returned 6.07% for the reporting period ended March 31, 2026. | High-Yield Fund C Class returned 6.07% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g30.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 6.07% | 2.04% | 3.65% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932873

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AHYRX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $124 | 1.20% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund R Class returned 6.60% for the reporting period ended March 31, 2026. | High-Yield Fund R Class returned 6.60% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g31.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 6.60% | 2.55% | 4.17% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932691

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACYIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $52 | 0.50% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund R5 Class returned 7.34% for the reporting period ended March 31, 2026. | High-Yield Fund R5 Class returned 7.34% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g32.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 7.34% | 3.26% | 4.90% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932782

------

**ANNUAL SHAREHOLDER REPORT**

High-Yield Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AHYDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about High-Yield Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $47 | 0.45% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| High-Yield Fund R6 Class returned 7.40% for the reporting period ended March 31, 2026. | High-Yield Fund R6 Class returned 7.40% for the reporting period ended March 31, 2026. |
| The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. | The fund seeks high current income primarily from below investment-grade corporate bonds. The commentary below refers to the fund's performance versus the ICE BofA U.S. High Yield Constrained Index (Unhedged) for the period August 1, 2025, through March 31, 2026. Prior to that time, the fund's primary comparision index was the Bloomberg U.S. High Yield 2% Issuer Cap Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside solid corporate earnings and a resilient labor market, concerns about private credit and artificial intelligence's disruptive impact on technology affected the market. Additionally, the Iran war and geopolitical concerns also raised uncertainty and volatility in the market. Nevertheless, high-yield bonds broadly rose for the eight-month period and outperformed investment-grade corporates as overall yields stayed within a tight range. For the portfolio, security selection was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our bond selections in the cable and satellite, retail and oil field services industries were key drivers of performance. These positive results more than offset negative selection effects among media and entertainment and finance companies. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's sector weightings also aided performance. Our allocations in the industrials, energy and technology, media and telecommunications sectors were top contributors. Allocations in the financial institutions sector detracted modestly but not enough to derail the broader contribution from sector allocation. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g33.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R6 Class** | 7.40% | 3.31% | 4.93% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;ICE BofA U.S. High Yield Constrained (Unhedged) | 6.90% | 4.19% | 6.04% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $86512882 |
| Management Fees (dollars paid during the reporting period) | $594170 |
| Portfolio Turnover Rate | 116% |
| Total Number of Portfolio Holdings | 303 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 94.3% |
| Preferred Securities | 0.4% |
| Short-Term Investments | 10.9% |
| Other Assets and Liabilities | (5.6)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932394

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ASIEX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $58 | 0.56% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund Investor Class returned 5.38% for the reporting period ended March 31, 2026. | Multisector Income Fund Investor Class returned 5.38% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g34.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 5.38% | 2.18% | 3.82% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932329

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASIGX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $47 | 0.46% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund I Class returned 5.60% for the reporting period ended March 31, 2026. | Multisector Income Fund I Class returned 5.60% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g35.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 5.60% | 2.29% | 3.55% | 4/10/17 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.82% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J853

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ASYIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $37 | 0.36% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund Y Class returned 5.57% for the reporting period ended March 31, 2026. | Multisector Income Fund Y Class returned 5.57% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g36.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Y Class** | 5.57% | 2.37% | 3.65% | 4/10/17 |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.82% |  |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J846

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ASIQX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $83 | 0.81% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund A Class returned 5.12% for the reporting period ended March 31, 2026. | Multisector Income Fund A Class returned 5.12% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g37.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 5.12% | 1.93% | 3.56% |
| **A Class - with sales charge** | 0.39% | 0.99% | 3.08% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932360

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ASIHX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $159 | 1.56% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund C Class returned 4.34% for the reporting period ended March 31, 2026. | Multisector Income Fund C Class returned 4.34% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g38.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 4.34% | 1.15% | 2.78% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932352

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ASIWX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $109 | 1.06% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund R Class returned 4.85% for the reporting period ended March 31, 2026. | Multisector Income Fund R Class returned 4.85% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g39.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 4.85% | 1.66% | 3.30% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932345

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ASIJX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $37 | 0.36% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund R5 Class returned 5.71% for the reporting period ended March 31, 2026. | Multisector Income Fund R5 Class returned 5.71% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g40.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 5.71% | 2.39% | 4.02% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932311

------

**ANNUAL SHAREHOLDER REPORT**

Multisector Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASIPX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Multisector Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $32 | 0.31% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Multisector Income Fund R6 Class returned 5.76% for the reporting period ended March 31, 2026. | Multisector Income Fund R6 Class returned 5.76% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. | The fund primarily seeks income via a multisector approach. The commentary below refers to the fund's performance compared to the Bloomberg U.S. Aggregate Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation broadly boosted performance, led by an out-of-index position in high-yield corporate bonds. An underweight position versus the index in government securities and an overweight in emerging markets debt also aided relative performance. An underweight in the securitized sector modestly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our positioning along the yield curve, which reflected a curve-steepening bias, contributed to relative performance. The positioning effects more than offset negative results from duration and carry/roll-down. A position in government futures, which we used for duration management, contributed to performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection modestly detracted from results, due to our choices among emerging markets debt. However, positive security selection in the investment-grade credit and securitized sectors offset some underperformance. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g41.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R6 Class** | 5.76% | 2.44% | 4.08% |
| **Bloomberg U.S. Aggregate Bond** | 4.35% | 0.31% | 1.70% |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $103686091 |
| Management Fees (dollars paid during the reporting period) | $517908 |
| Portfolio Turnover Rate | 162% |
| Total Number of Portfolio Holdings | 378 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 51.1% |
| Asset-Backed Securities | 16.4% |
| Collateralized Mortgage Obligations | 9.0% |
| Convertible Preferred Securities | 7.8% |
| Commercial Mortgage-Backed Securities | 4.2% |
| Preferred Securities | 3.5% |
| U.S. Treasury Securities | 2.4% |
| Sovereign Governments and Agencies | 2.3% |
| Municipal Securities | 1.3% |
| Exchange-Traded Funds | 0.4% |
| Bank Loan Obligations | 0.4% |
| Collateralized Loan Obligations | 0.4% |
| Short-Term Investments | 1.9% |
| Other Assets and Liabilities | (1.1)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932337

------

**ANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BPRXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $58 | 0.57% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2583585382 |
| Management Fees (dollars paid during the reporting period) | $14098952 |
| Total Number of Portfolio Holdings | 126 |
| 7-Day Current Yield - Investor Class | 3.28% |
| 7-Day Effective Yield - Investor Class | 3.33% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 47.4% |
| Corporate Bonds | 21.8% |
| Municipal Securities | 15.9% |
| U.S. Treasury Securities | 14.0% |
| Certificates of Deposit | 1.7% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932105

------

**ANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACAXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $83 | 0.82% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2583585382 |
| Management Fees (dollars paid during the reporting period) | $14098952 |
| Total Number of Portfolio Holdings | 126 |
| 7-Day Current Yield - A Class | 3.03% |
| 7-Day Effective Yield - A Class | 3.08% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 47.4% |
| Corporate Bonds | 21.8% |
| Municipal Securities | 15.9% |
| U.S. Treasury Securities | 14.0% |
| Certificates of Deposit | 1.7% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932204

------

**ANNUAL SHAREHOLDER REPORT**

Prime Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARCXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Prime Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $134 | 1.32% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2583585382 |
| Management Fees (dollars paid during the reporting period) | $14098952 |
| Total Number of Portfolio Holdings | 126 |
| 7-Day Current Yield - C Class | 2.53% |
| 7-Day Effective Yield - C Class | 2.57% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Commercial Paper | 47.4% |
| Corporate Bonds | 21.8% |
| Municipal Securities | 15.9% |
| U.S. Treasury Securities | 14.0% |
| Certificates of Deposit | 1.7% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932303

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ACSNX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $58 | 0.57% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund Investor Class returned 4.43% for the reporting period ended March 31, 2026. | Short Duration Fund Investor Class returned 4.43% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g42.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 4.43% | 2.26% | 2.36% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932436

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASHHX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $48 | 0.47% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund I Class returned 4.54% for the reporting period ended March 31, 2026. | Short Duration Fund I Class returned 4.54% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g43.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 4.54% | 2.36% | 2.54% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.17% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J705

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACSQX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $84 | 0.82% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund A Class returned 4.07% for the reporting period ended March 31, 2026. | Short Duration Fund A Class returned 4.07% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g44.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 4.07% | 2.01% | 2.09% |
| **A Class - with sales charge** | 1.73% | 1.54% | 1.86% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| A Class shares have a 2.25% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932477

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ACSKX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $160 | 1.57% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund C Class returned 3.40% for the reporting period ended March 31, 2026. | Short Duration Fund C Class returned 3.40% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g45.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 3.40% | 1.25% | 1.33% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932451

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ACSPX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $109 | 1.07% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund R Class returned 3.81% for the reporting period ended March 31, 2026. | Short Duration Fund R Class returned 3.81% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g46.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 3.81% | 1.75% | 1.84% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932444

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ACSUX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $38 | 0.37% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund R5 Class returned 4.64% for the reporting period ended March 31, 2026. | Short Duration Fund R5 Class returned 4.64% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g47.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 4.64% | 2.47% | 2.56% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932428

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASDDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $33 | 0.32% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund R6 Class returned 4.69% for the reporting period ended March 31, 2026. | Short Duration Fund R6 Class returned 4.69% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *July 28, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g48.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **R6 Class** | 4.69% | 2.52% | 2.67% | 7/28/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.69% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.18% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J820

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (ASDOX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Fund G Class returned 5.02% for the reporting period ended March 31, 2026. | Short Duration Fund G Class returned 5.02% for the reporting period ended March 31, 2026. |
| The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund seeks to maximize total return and generate a high level of income from a mix of short-maturity, high-quality U.S. bonds and lower-rated fixed-income securities. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Federal Reserve remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Sector allocation was the main contributor to portfolio performance, largely due to out-of-index stakes in the securitized and high-yield corporate sectors. An underweight versus the index in nominal government securities and an overweight to investment-grade corporates also helped. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Security selection, particularly among investment-grade corporate securities, contributed to overall portfolio performance. Our selections in emerging markets also slightly boosted results. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our yield curve strategy also aided performance, with duration and positioning along the yield curve contributing to results. Carry and yield curve roll-down effects detracted slightly late in the period. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *November 4, 2020 through March 31, 2026* |

---

![10](ck0000908406-20260331_g49.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **G Class** | 5.02% | 2.84% | 2.92% | 11/4/20 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | -0.25% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 1.90% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1004425654 |
| Management Fees (dollars paid during the reporting period) | $2675274 |
| Portfolio Turnover Rate | 197% |
| Total Number of Portfolio Holdings | 292 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 30.7% |
| U.S. Treasury Securities | 26.1% |
| Collateralized Mortgage Obligations | 16.2% |
| Asset-Backed Securities | 9.2% |
| Convertible Preferred Securities | 4.8% |
| Preferred Securities | 3.3% |
| Commercial Mortgage-Backed Securities | 2.8% |
| Collateralized Loan Obligations | 0.1% |
| Short-Term Investments | 6.1% |
| Other Assets and Liabilities | 0.7% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J796

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (APOIX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $59 | 0.58% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund Investor Class returned 3.42% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund Investor Class returned 3.42% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g50.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 3.42% | 3.10% | 2.86% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932774

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (APOHX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $49 | 0.48% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund I Class returned 3.49% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund I Class returned 3.49% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g51.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 3.49% | 3.20% | 3.06% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.18% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J804

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (APOYX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $39 | 0.38% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund Y Class returned 3.60% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund Y Class returned 3.60% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g52.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Y Class** | 3.60% | 3.32% | 3.17% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.18% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J887

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (APOAX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $84 | 0.83% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund A Class returned 3.20% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund A Class returned 3.20% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g53.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 3.20% | 2.85% | 2.61% |
| **A Class - with sales charge** | 0.88% | 2.39% | 2.38% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| A Class shares have a 2.25% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932758

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (APOCX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $160 | 1.58% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund C Class returned 2.32% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund C Class returned 2.32% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g54.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 2.32% | 2.07% | 1.83% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932733

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (APORX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $110 | 1.08% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund R Class returned 2.87% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund R Class returned 2.87% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g55.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 2.87% | 2.58% | 2.34% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932725

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (APISX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $39 | 0.38% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund R5 Class returned 3.60% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund R5 Class returned 3.60% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g56.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 3.60% | 3.30% | 3.06% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932766

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (APODX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $34 | 0.33% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund R6 Class returned 3.55% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund R6 Class returned 3.55% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g57.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R6 Class** | 3.55% | 3.34% | 3.10% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.03% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932378

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Inflation Protection Bond Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (APOGX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Inflation Protection Bond Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | 0.02% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Inflation Protection Bond Fund G Class returned 3.97% for the reporting period ended March 31, 2026. | Short Duration Inflation Protection Bond Fund G Class returned 3.97% for the reporting period ended March 31, 2026. |
| The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. | The fund seeks to provide total return and inflation protection by investing primarily in short-duration inflation-indexed securities, including Treasury inflation-protected securities (TIPS). The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-5 Year TIPS Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Measures of consumer inflation edged higher during the period, while market-based inflation expectations inched lower. In this environment, the portfolio's underweight position versus the index in TIPS slightly detracted. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Duration and yield curve positioning modestly aided performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Overall, our out-of-index allocations aided results. Positions in investment-grade and high-yield corporate bonds and emerging markets debt boosted performance. These positions more than offset negative effects from our non-index position in securitized securities. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | To manage the portfolio's inflation exposure, we held non-index, short-dated inflation swaps in conjunction with the securitized and corporate securities. Swaps had a neutral effect on performance for the 12-month period. Inflation swaps diversified the portfolio's inflation protection and created an inflation overlay for non-inflation-linked securitized and corporate securities. Inflation swaps are fixed-maturity instruments, negotiated through a counterparty (investment bank), that return the rate of inflation (Consumer Price Index). All swaps bear counterparty credit risk, but American Century Investments applies stringent controls and oversight regarding this risk. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *July 28, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g58.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **G Class** | 3.97% | 3.67% | 3.66% | 7/28/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.69% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-5 Year Treasury Inflation Protected Securities (TIPS) | 3.90% | 3.25% | 3.32% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1177704779 |
| Management Fees (dollars paid during the reporting period) | $4102588 |
| Portfolio Turnover Rate | 59% |
| Total Number of Portfolio Holdings | 90 |

---

**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 | 80.0% |
| Corporate Bonds | 4.4% |
| Collateralized Mortgage Obligations | 2.8% |
| Asset-Backed Securities | 2.5% |
| Convertible Preferred Securities | 2.4% |
| Sovereign Governments and Agencies | 1.6% |
| Exchange-Traded Funds | 1.2% |
| Commercial Mortgage-Backed Securities | 1.0% |
| Preferred Securities | 0.2% |
| Short-Term Investments | 3.5% |
| Other Assets and Liabilities | 0.4% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J838

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ASDVX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $53 | 0.52% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund Investor Class returned 4.79% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund Investor Class returned 4.79% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g59.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **Investor Class** | 4.79% | 2.58% | 3.19% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932253

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASDHX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $43 | 0.42% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund I Class returned 4.78% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund I Class returned 4.78% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g60.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **I Class** | 4.78% | 2.68% | 2.96% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.17% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J879

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ASYDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $33 | 0.32% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund Y Class returned 4.88% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund Y Class returned 4.88% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *April 10, 2017 through March 31, 2026* |

---

![10](ck0000908406-20260331_g61.jpg)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | Since Inception | Inception Date |
| **Y Class** | 4.88% | 2.76% | 3.05% | 4/10/17 |
| **Regulatory Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.82% |  |
| **Performance Index** |  |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.17% |  |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J861

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ASADX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $79 | 0.77% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund A Class returned 4.41% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund A Class returned 4.41% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |
| *The initial investment is adjusted to reflect the maximum initial sales charge.* |

---

![10](ck0000908406-20260331_g62.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **A Class** | 4.41% | 2.30% | 2.92% |
| **A Class - with sales charge** | 2.06% | 1.84% | 2.69% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| A Class shares have a 2.25% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932295

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ASCDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $155 | 1.52% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund C Class returned 3.63% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund C Class returned 3.63% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g63.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **C Class** | 3.63% | 1.54% | 2.15% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

---

| |
|:---|
| The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy. |
| C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion. |

---

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932287

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ASDRX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $104 | 1.02% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund R Class returned 4.15% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund R Class returned 4.15% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g64.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R Class** | 4.15% | 2.07% | 2.68% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932279

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ASDJX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $33 | 0.32% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund R5 Class returned 4.88% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund R5 Class returned 4.88% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g65.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R5 Class** | 4.88% | 2.76% | 3.38% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932246

------

**ANNUAL SHAREHOLDER REPORT**

Short Duration Strategic Income Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ASXDX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about Short Duration Strategic Income Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $28 | 0.27% |

---

---

| | |
|:---|:---|
| **What were the key factors that affected the fund's performance?** | **What were the key factors that affected the fund's performance?** |
| Short Duration Strategic Income Fund R6 Class returned 4.93% for the reporting period ended March 31, 2026. | Short Duration Strategic Income Fund R6 Class returned 4.93% for the reporting period ended March 31, 2026. |
| The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. | The fund primarily seeks income via a multisector approach and a short-duration focus. The commentary below refers to the fund's performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Alongside rising inflation, Treasury yield volatility, mixed economic data and tighter credit spreads, bonds broadly rose. Job market worries prompted three Federal Reserve rate cuts in late 2025, after which the Fed remained on hold. For the portfolio, sector allocation was the primary driver of performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | The portfolio's out-of-index allocations broadly aided relative performance. Positions in high-yield credit and the securitized sector were top contributors. Additionally, underweights versus the index in Treasuries and investment-grade credit also boosted performance. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Amid interest rate volatility and a modest decline in shorter-maturity yield, all components of our yield curve strategy contributed to results. Carry and yield curve roll-down effects and duration had the largest impact, while curve positioning contributed more modestly. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• | Our security selection efforts also boosted portfolio performance, most notably in the investment-grade credit sector. Our choices among emerging markets bonds slightly detracted. |

---

---

| |
|:---|
| **Cumulative Performance** *(based on an initial $10,000 investment)* |
| *March 31, 2016 through March 31, 2026* |

---

![10](ck0000908406-20260331_g66.jpg)

------

---

| | | | |
|:---|:---|:---|:---|
| **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  | **Average Annual Total Returns**  |
|  | 1 Year | 5 Year | 10 Year |
| **R6 Class** | 4.93% | 2.84% | 3.45% |
| **Regulatory Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. Aggregate Bond | 4.35% | 0.31% | 1.70% |
| **Performance Index** |  |  |  |
| &nbsp;&nbsp;Bloomberg U.S. 1-3 Year Government/Credit Bond | 3.96% | 2.04% | 2.02% |

---

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund's investment strategy.<br>

*The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.*<br>

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $883558853 |
| Management Fees (dollars paid during the reporting period) | $3367804 |
| Portfolio Turnover Rate | 156% |
| Total Number of Portfolio Holdings | 417 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 42.5% |
| Asset-Backed Securities | 14.8% |
| Collateralized Mortgage Obligations | 14.3% |
| U.S. Treasury Securities | 10.3% |
| Convertible Preferred Securities | 7.6% |
| Preferred Securities | 3.7% |
| Commercial Mortgage-Backed Securities | 3.7% |
| Municipal Securities | 0.9% |
| Sovereign Governments and Agencies | 0.7% |
| Collateralized Loan Obligations | 0.3% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investments | 0.9% |
| 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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932261

------

**ANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (TCRXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $46 | 0.45% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1106453844 |
| Management Fees (dollars paid during the reporting period) | $3865018 |
| Total Number of Portfolio Holdings | 91 |
| 7-Day Current Yield - Investor Class | 3.27% |
| 7-Day Effective Yield - Investor Class | 3.32% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.1% |
| U.S. Government Agency Securities | 20.1% |
| U.S. Treasury Securities | 19.5% |
| Repurchase Agreements | 11.7% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932709

------

**ANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AGQXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $71 | 0.70% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1106453844 |
| Management Fees (dollars paid during the reporting period) | $3865018 |
| Total Number of Portfolio Holdings | 91 |
| 7-Day Current Yield - A Class | 3.03% |
| 7-Day Effective Yield - A Class | 3.08% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.1% |
| U.S. Government Agency Securities | 20.1% |
| U.S. Treasury Securities | 19.5% |
| Repurchase Agreements | 11.7% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932238

------

**ANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AGHXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about U.S. Government Money Market Fund for the period of April 1, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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 | $122 | 1.20% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1106453844 |
| Management Fees (dollars paid during the reporting period) | $3865018 |
| Total Number of Portfolio Holdings | 91 |
| 7-Day Current Yield - C Class | 2.53% |
| 7-Day Effective Yield - C Class | 2.56% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.1% |
| U.S. Government Agency Securities | 20.1% |
| U.S. Treasury Securities | 19.5% |
| Repurchase Agreements | 11.7% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-24932220

------

**ANNUAL SHAREHOLDER REPORT**

U.S. Government Money Market Fund ![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| **G Class (AGJXX)**  | **March 31, 2026** |

---

This annual shareholder report contains important information about U.S. Government Money Market Fund for the period of November 12, 2025 to March 31, 2026. 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 year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last year?** *(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% |
| \*The costs of an investment would have been greater had the class been available for a full year. | \*The costs of an investment would have been greater had the class been available for a full year. | \*The costs of an investment would have been greater had the class been available for a full year. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1106453844 |
| Management Fees (dollars paid during the reporting period) | $3865018 |
| Total Number of Portfolio Holdings | 91 |
| 7-Day Current Yield - G Class | 3.73% |
| 7-Day Effective Yield - G Class | 3.80% |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Corporate Bonds | 47.1% |
| U.S. Government Agency Securities | 20.1% |
| U.S. Treasury Securities | 19.5% |
| Repurchase Agreements | 11.7% |
| Municipal Securities | 2.4% |
| Other Assets and Liabilities | (0.8)% |

---

*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](ck0000908406-20260331_g3.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

A-2508J762

------

(b) Not applicable.

**ITEM 2. CODE OF ETHICS.**

(a) The registrant has adopted a Code of Ethics for Senior Financial Officers that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer, and persons performing similar functions.

(b) No response required.

(c) None.

(d) None.

(e) Not applicable.

(f) The registrant's Code of Ethics for Senior Financial Officers was filed as Exhibit 12 (a)(1) to American Century Asset Allocation Portfolios, Inc.'s Annual Certified Shareholder Report on Form N-CSR, File No. 811-21591, on September 29, 2005, and is incorporated herein by reference.

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

(a)(1) The registrant's board has determined that the registrant has at least one audit committee financial expert serving on its audit committee.

(a)(2) Tanya S. Beder, Jennifer Cabalquinto, Anne Casscells and John Loder are the registrant's designated audit committee financial experts. They are "independent" as defined in Item 3 of Form N-CSR.

(a)(3) Not applicable.

(b) No response required.

(c) No response required.

(d) No response required.

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

(a) Audit Fees.

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal

accountant for the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were as follows:

---

| | |
|:---|:---|
| FY 2025: | $200370 |
| FY 2026: | $204370 |

---

(b) Audit-Related Fees.

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of this Item were as follows:

------

For services rendered to the registrant:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (relating to certain engagements for non-audit services with the registrant's investment adviser and its affiliates):&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

(c) Tax Fees.

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were as follows:

For services rendered to the registrant:

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (relating to certain engagements for non-audit services with the registrant's investment adviser and its affiliates):

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

(d) All Other Fees.

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were as follows:

For services rendered to the registrant:

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (relating to certain &nbsp;&nbsp;&nbsp;&nbsp;engagements for non-audit services with the registrant's investment adviser and its affiliates):

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

---

| | |
|:---|:---|
| FY 2025: | $0 |
| FY 2026: | $0 |

---

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

(e)(1) In accordance with paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X, before the accountant is engaged by the registrant to render audit or non-audit services, the engagement is approved by the registrant's audit committee. Pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, the registrant's audit committee also pre-approves its accountant's engagements for non-audit services with the registrant's investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.

(e)(2) All services described in each of paragraphs (b) through (d) of this Item were pre-approved before the engagement by the registrant's audit committee pursuant to paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X. Consequently, none of such services were required to be approved by the audit committee pursuant to paragraph (c)(7)(i)(C).

(f) The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal

------

accountant's full-time, permanent employees was less than 50%.

(g) The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were as follows:

---

| | |
|:---|:---|
| FY 2025: | $98325 |
| FY 2026: | $98325 |

---

(h) The registrant's investment adviser and accountant have notified the registrant's audit committee of all non-audit services that were rendered by the registrant's accountant to the registrant's investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides services to the registrant, which services were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X. The notification provided to the registrant's audit committee included sufficient details regarding such services to allow the registrant's audit committee to consider the continuing independence of its principal accountant.

(i) Not applicable.

(j) Not applicable.

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

Not applicable.

**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;

![ACI_Horiz_RGB_Black.jpg](ck0000908406-20260331_g1.jpg)

---

| | |
|:---|:---|
| Annual Financial Statements and Other Information | Annual Financial Statements and Other Information |
| March 31, 2026 |  |
| 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;G Class (AGJXX) |
| &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 | [129](#id477fb4faba64aa6af4a7a4196c6aeeb_34) |
| Statements of Operations | [139](#id477fb4faba64aa6af4a7a4196c6aeeb_37) |
| Statements of Changes in Net Assets | [144](#id477fb4faba64aa6af4a7a4196c6aeeb_40) |
| Notes to Financial Statements | [149](#id477fb4faba64aa6af4a7a4196c6aeeb_43) |
| Financial Highlights | [169](#id477fb4faba64aa6af4a7a4196c6aeeb_46) |
| Report of Independent Registered Public Accounting Firm | [188](#id477fb4faba64aa6af4a7a4196c6aeeb_49) |
| Other Tax Information | [189](#id477fb4faba64aa6af4a7a4196c6aeeb_12246) |

---

------

Schedule of Investments - Core Plus Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 37.0%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Aerospace and Defense — 0.6%** | | |
| Boeing Co., 5.71%, 5/1/40 | $540000 | $541102 |
| Carpenter Technology Corp., 5.625%, 3/1/34<sup>(1)</sup> | 150000 | 148806 |
| Honeywell Aerospace, Inc., 4.60%, 3/16/33<sup>(1)</sup> | 157000 | 155245 |
| Honeywell Aerospace, Inc., 4.95%, 3/16/36<sup>(1)</sup> | 440000 | 436739 |
| Textron, Inc., 4.95%, 3/15/36 | 256000 | 249007 |
| TransDigm, Inc., 4.625%, 1/15/29 | 195000 | 191716 |
| TransDigm, Inc., 4.875%, 5/1/29 | 635000 | 626058 |
|  |  | 2348673 |
| **Air Freight and Logistics — 0.3%** |  |  |
| GXO Logistics, Inc., 6.25%, 5/6/29 | 755000 | 783292 |
| GXO Logistics, Inc., 6.50%, 5/6/34 | 168000 | 176402 |
|  |  | 959694 |
| **Automobiles — 0.3%** |  |  |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 550000 | 579704 |
| Ford Motor Credit Co. LLC, 5.42%, 4/9/31 | 200000 | 196470 |
| Ford Motor Credit Co. LLC, 6.05%, 11/5/31 | 45000 | 45221 |
| General Motors Financial Co., Inc., 5.60%, 6/18/31 | 310000 | 317374 |
| General Motors Financial Co., Inc., 6.15%, 7/15/35 | 185000 | 191398 |
|  |  | 1330167 |
| **Banks — 4.9%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 400000 | 357194 |
| Bank of America Corp., VRN, 5.51%, 1/24/36 | 660000 | 673289 |
| Bank of America Corp., VRN, 4.33%, 3/15/50 | 370000 | 300191 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 784000 | 805682 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 1445000 | 1513984 |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, VRN, 5.125%, 1/18/33<sup>(1)</sup> | 690000 | 671070 |
| BPCE SA, VRN, 3.65%, 1/14/37<sup>(1)</sup> | 720000 | 645323 |
| Citigroup, Inc., VRN, 4.41%, 3/31/31 | 480000 | 474627 |
| Citigroup, Inc., VRN, 5.17%, 9/11/36 | 315000 | 312372 |
| Citigroup, Inc., VRN, 5.61%, 3/4/56 | 200000 | 192219 |
| Dresdner Funding Trust I, 8.15%, 6/30/31<sup>(1)</sup> | 877000 | 940253 |
| Fifth Third Bank NA, VRN, 5.33%, 8/25/33 | 752000 | 754611 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 975000 | 988938 |
| Freedom Mortgage Holdings LLC, 6.875%, 5/1/31<sup>(1)</sup> | 860000 | 804860 |
| Huntington Bancshares, Inc., VRN, 4.62%, 1/28/32 | 875000 | 862497 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 229000 | 214310 |
| JPMorgan Chase & Co., VRN, 5.10%, 4/22/31 | 618000 | 629337 |
| JPMorgan Chase & Co., VRN, 4.35%, 1/22/32 | 330000 | 325413 |
| JPMorgan Chase & Co., VRN, 5.77%, 4/22/35 | 751000 | 782482 |
| JPMorgan Chase & Co., VRN, 4.26%, 2/22/48 | 570000 | 466397 |
| KeyCorp, VRN, 6.40%, 3/6/35 | 210000 | 222751 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 270000 | 269215 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 597000 | 543752 |
| Pinnacle Bank/Nashville TN, VRN, 5.96%, 1/15/36 | 705000 | 698474 |
| Sumitomo Mitsui Financial Group, Inc., VRN, 5.33%, 3/3/41 | 410000 | 397795 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 602000 | 621427 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 348000 | 317211 |
| Webster Financial Corp., VRN, 5.78%, 9/11/35 | 455000 | 462237 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Wells Fargo & Co., VRN, 5.61%, 4/23/36 | $530000 | $542555 |
| Wells Fargo & Co., VRN, 5.43%, 1/23/47 | 255000 | 241808 |
| Wells Fargo & Co., VRN, 5.01%, 4/4/51 | 355000 | 313033 |
| Western Alliance Bank, VRN, 6.54%, 11/15/35 | 850000 | 833327 |
| Zions Bancorp NA, VRN, 6.82%, 11/19/35 | 815000 | 837605 |
|  |  | 19016239 |
| **Beverages — 0.2%** |  |  |
| Maple Parent Holdings Corp., 5.05%, 3/26/31<sup>(1)</sup> | 260000 | 259007 |
| Maple Parent Holdings Corp., 5.70%, 3/26/36<sup>(1)</sup> | 632000 | 628219 |
|  |  | 887226 |
| **Biotechnology — 0.4%** |  |  |
| Amgen, Inc., 5.65%, 3/2/53 | 440000 | 426447 |
| BioMarin Pharmaceutical, Inc., 5.50%, 2/15/34<sup>(1)</sup> | 475000 | 467999 |
| Genmab AS/Genmab Finance LLC, 6.25%, 12/15/32<sup>(1)</sup> | 500000 | 512979 |
| Genmab AS/Genmab Finance LLC, 7.25%, 12/15/33<sup>(1)</sup> | 200000 | 209529 |
|  |  | 1616954 |
| **Broadline Retail — 0.2%** |  |  |
| Amazon.com, Inc., 4.55%, 3/13/33 | 500000 | 495334 |
| Amazon.com, Inc., 4.875%, 3/13/36 | 405000 | 401465 |
|  |  | 896799 |
| **Building Products — 0.4%** |  |  |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 1120000 | 1032475 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 80000 | 80112 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 574000 | 541382 |
|  |  | 1653969 |
| **Capital Markets — 3.2%** |  |  |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 259000 | 258706 |
| Blackstone Private Credit Fund, 3.25%, 3/15/27 | 650000 | 633934 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 553000 | 545077 |
| Blue Owl Credit Income Corp., 7.75%, 9/16/27 | 585000 | 593454 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 605000 | 619657 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28 | 783000 | 774275 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 944000 | 949035 |
| Citadel Finance LLC, 5.15%, 2/14/31<sup>(1)</sup> | 350000 | 341952 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 446000 | 417843 |
| Goldman Sachs BDC, Inc., 5.10%, 1/28/29 | 404000 | 392562 |
| Goldman Sachs Group, Inc., VRN, 6.48%, 10/24/29 | 355000 | 371434 |
| Goldman Sachs Group, Inc., VRN, 5.07%, 1/21/37 | 280000 | 273853 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 1/28/56 | 295000 | 288217 |
| Goldman Sachs Private Credit Corp., 5.05%, 2/23/28<sup>(1)</sup> | 620000 | 610830 |
| Golub Capital BDC, Inc., 2.05%, 2/15/27 | 632000 | 612381 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 465000 | 475984 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 590000 | 582062 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 160000 | 158872 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 330000 | 321691 |
| HPS Corporate Lending Fund, 5.15%, 4/2/29<sup>(1)</sup> | 270000 | 262469 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 137000 | 136840 |
| Jefferies Financial Group, Inc., 5.50%, 2/15/36 | 322000 | 309243 |
| Morgan Stanley, VRN, 6.63%, 11/1/34 | 950000 | 1034096 |
| Morgan Stanley, VRN, 5.83%, 4/19/35 | 155000 | 160971 |
| Morgan Stanley, VRN, 4.89%, 10/22/36 | 255000 | 246609 |
| Morgan Stanley, VRN, 5.52%, 11/19/55 | 152000 | 144425 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | $661000 | $651982 |
|  |  | 12168454 |
| **Chemicals — 0.3%** |  |  |
| Braskem Netherlands Finance BV, 4.50%, 1/31/30<sup>(1)</sup> | 50000 | 23305 |
| Celanese U.S. Holdings LLC, 7.00%, 2/15/31 | 570000 | 585709 |
| CompoSecure Holdings LLC, 5.625%, 2/1/33<sup>(1)</sup> | 550000 | 537718 |
|  |  | 1146732 |
| **Construction Materials — 0.3%** |  |  |
| Eagle Materials, Inc., 5.00%, 3/15/36 | 394000 | 377452 |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 250000 | 253689 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 598000 | 607816 |
|  |  | 1238957 |
| **Consumer Finance — 1.0%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 742000 | 824058 |
| Avilease Capital Ltd., 4.75%, 11/12/30<sup>(1)</sup> | 730000 | 711122 |
| Avolon Holdings Funding Ltd., 4.85%, 4/1/33<sup>(1)</sup> | 450000 | 431307 |
| Capital One Financial Corp., VRN, 4.72%, 1/30/32 | 505000 | 497481 |
| Capital One Financial Corp., VRN, 2.36%, 7/29/32 | 460000 | 396723 |
| Capital One Financial Corp., VRN, 5.40%, 1/30/37 | 394000 | 386242 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 165000 | 161457 |
| Takeoff Merger Sub, Inc., 4.85%, 3/24/31<sup>(1)</sup> | 570000 | 563092 |
|  |  | 3971482 |
| **Containers and Packaging — 0.1%** |  |  |
| Amcor Flexibles North America, Inc., 5.125%, 3/12/36 | 441000 | 428949 |
| **Diversified Consumer Services — 0.1%** |  |  |
| Leland Stanford Junior University, 4.68%, 3/1/35 | 20000 | 19966 |
| Massachusetts Institute of Technology, 5.62%, 6/1/55 | 45000 | 45656 |
| Novant Health, Inc., 3.17%, 11/1/51 | 210000 | 137900 |
|  |  | 203522 |
| **Diversified REITs — 1.2%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 705000 | 635845 |
| Equinix Europe 2 Financing Corp. LLC, 4.70%, 3/15/33 | 475000 | 462168 |
| GLP Capital LP/GLP Financing II, Inc., 5.25%, 2/15/33 | 409000 | 401287 |
| GLP Capital LP/GLP Financing II, Inc., 5.625%, 3/1/36 | 285000 | 277454 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 175000 | 159609 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 300000 | 244428 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 41000 | 42969 |
| Piedmont Operating Partnership LP, 5.625%, 1/15/33 | 820000 | 797292 |
| Trust 2401, 7.70%, 1/23/32<sup>(1)</sup> | 808000 | 865118 |
| Vornado Realty LP, 5.75%, 2/1/33 | 660000 | 647607 |
|  |  | 4533777 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Verizon Communications, Inc., 5.875%, 11/30/55 | 115000 | 111939 |
| **Electric Utilities — 2.5%** |  |  |
| Arizona Public Service Co., 5.70%, 8/15/34 | 248000 | 257160 |
| Comision Federal de Electricidad, 6.05%, 1/28/34<sup>(1)</sup> | 258000 | 250350 |
| Commonwealth Edison Co., 5.95%, 6/1/55 | 443000 | 449331 |
| DTE Electric Co., 5.55%, 3/1/56 | 145000 | 140306 |
| Duke Energy Florida LLC, 4.85%, 12/1/35 | 170000 | 166935 |
| Duke Energy Florida LLC, 5.95%, 11/15/52 | 260000 | 264272 |
| Duke Energy Progress LLC, 5.35%, 3/15/53 | 165000 | 154675 |
| Electricite de France SA, 6.95%, 1/26/39<sup>(1)</sup> | 604000 | 673713 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Emera U.S. Finance LLC, 5.20%, 4/1/33 | $149000 | $148227 |
| Emera U.S. Finance LLC, VRN, 6.65%, 10/1/56 | 384000 | 384149 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 1024000 | 1026114 |
| Entergy Louisiana LLC, 4.90%, 4/15/36 | 133000 | 129798 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 1036000 | 1035374 |
| ITC Holdings Corp., 5.50%, 4/15/36<sup>(1)(2)</sup> | 149000 | 149497 |
| Kentucky Utilities Co., 5.85%, 8/15/55 | 291000 | 289562 |
| Louisville Gas & Electric Co., 5.85%, 8/15/55 | 86000 | 85416 |
| MidAmerican Energy Co., 5.85%, 9/15/54 | 1072000 | 1077022 |
| Niagara Mohawk Power Corp., 4.65%, 10/3/30<sup>(1)</sup> | 145000 | 144486 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> | 280000 | 292656 |
| Puget Energy, Inc., VRN, 7.00%, 9/15/56<sup>(1)</sup> | 492000 | 488406 |
| Puget Energy, Inc., VRN, 7.25%, 9/15/56<sup>(1)</sup> | 492000 | 490152 |
| Sierra Pacific Power Co., VRN, 6.375%, 9/15/56 | 255000 | 252993 |
| Southern Co., VRN, 6.00%, 4/1/58 | 590000 | 593161 |
| Southern Co. Gas Capital Corp., 5.10%, 9/15/35 | 378000 | 373256 |
| Xcel Energy, Inc., VRN, 5.75%, 12/3/56 | 508000 | 496051 |
|  |  | 9813062 |
| **Electrical Equipment — 0.0%** |  |  |
| WESCO Distribution, Inc., 5.50%, 4/15/34<sup>(1)</sup> | 143000 | 141191 |
| **Electronic Equipment, Instruments and Components — 0.1%** |  |  |
| Flex Ltd., 5.375%, 11/13/35 | 445000 | 437491 |
| **Entertainment — 0.2%** |  |  |
| Beignet Investor LLC, 6.58%, 5/30/49<sup>(1)</sup> | 139000 | 143021 |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 | 395000 | 390161 |
| OAK-Eagle Acquireco, Inc., 7.25%, 7/1/33<sup>(1)(2)</sup> | 170000 | 176247 |
| OAK-Eagle Acquireco, Inc., 8.75%, 7/1/34<sup>(1)(2)</sup> | 113000 | 118373 |
|  |  | 827802 |
| **Financial Services — 1.7%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 815000 | 807164 |
| Atlas Warehouse Lending Co. LP, 6.25%, 1/15/30<sup>(1)</sup> | 751000 | 772682 |
| Atlas Warehouse Lending Co. LP, 4.95%, 11/15/30<sup>(1)</sup> | 525000 | 515530 |
| Atlas Warehouse Lending Co. LP, 5.25%, 1/15/33<sup>(1)</sup> | 515000 | 499044 |
| Corebridge Financial, Inc., VRN, 6.375%, 9/15/54 | 288000 | 283203 |
| Essent Group Ltd., 6.25%, 7/1/29 | 925000 | 957372 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 250000 | 246858 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 925000 | 946756 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 758000 | 753850 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 178000 | 170461 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> | 310000 | 313052 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 345000 | 349138 |
|  |  | 6615110 |
| **Food Products — 0.2%** |  |  |
| Flowers Foods, Inc., 5.75%, 3/15/35 | 185000 | 176847 |
| Mars, Inc., 5.65%, 5/1/45<sup>(1)</sup> | 315000 | 311247 |
| Mars, Inc., 5.70%, 5/1/55<sup>(1)</sup> | 180000 | 175636 |
|  |  | 663730 |
| **Gas Utilities — 0.2%** |  |  |
| Grupo Energia Bogota SA ESP, 5.75%, 10/22/35<sup>(1)</sup> | 200000 | 191647 |
| Snam SpA, 6.50%, 5/28/55<sup>(1)</sup> | 417000 | 429895 |
|  |  | 621542 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Ground Transportation — 0.4%** | | |
| Ashtead Capital, Inc., 5.95%, 10/15/33<sup>(1)</sup> | $600000 | $618622 |
| Fedex Freight Holding Co., Inc., 5.25%, 3/15/36<sup>(1)</sup> | 572000 | 553619 |
| United Rentals North America, Inc., 6.00%, 12/15/29<sup>(1)</sup> | 325000 | 330641 |
|  |  | 1502882 |
| **Health Care Equipment and Supplies — 0.8%** |  |  |
| Abbott Laboratories, 4.65%, 3/15/36 | 550000 | 538034 |
| Abbott Laboratories, 5.50%, 3/15/56 | 420000 | 412119 |
| Baxter International, Inc., 4.90%, 12/15/30 | 340000 | 335723 |
| Baxter International, Inc., 5.65%, 12/15/35 | 207000 | 202263 |
| Hologic, Inc., 3.25%, 2/15/29<sup>(1)</sup> | 351000 | 350610 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1110000 | 1132458 |
|  |  | 2971207 |
| **Health Care Providers and Services — 1.5%** |  |  |
| Acadia Healthcare Co., Inc., 5.00%, 4/15/29<sup>(1)</sup> | 785000 | 764912 |
| Centene Corp., 4.625%, 12/15/29 | 410000 | 389474 |
| CVS Health Corp., 5.45%, 9/15/35 | 194000 | 194824 |
| CVS Health Corp., 6.00%, 6/1/44 | 415000 | 408866 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 332000 | 342381 |
| Duke University Health System, Inc., 3.92%, 6/1/47 | 118000 | 93100 |
| HCA, Inc., 4.90%, 11/15/35 | 614000 | 593861 |
| HCA, Inc., 6.20%, 3/1/55 | 132000 | 130878 |
| Humana, Inc., VRN, 6.625%, 9/15/56 | 406000 | 390306 |
| Icon Investments Six DAC, 5.81%, 5/8/27 | 225000 | 226202 |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(1)</sup> | 650000 | 647923 |
| IQVIA, Inc., 6.25%, 2/1/29 | 361000 | 375408 |
| Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 235000 | 150908 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> | 178000 | 175049 |
| UnitedHealth Group, Inc., 5.30%, 6/15/35 | 161000 | 164321 |
| UnitedHealth Group, Inc., 5.50%, 7/15/44 | 429000 | 414280 |
| UnitedHealth Group, Inc., 5.05%, 4/15/53 | 545000 | 479901 |
|  |  | 5942594 |
| **Hotels, Restaurants and Leisure — 1.1%** |  |  |
| Airbnb, Inc., 4.65%, 3/16/31 | 240000 | 239560 |
| Airbnb, Inc., 5.25%, 3/16/36 | 275000 | 275386 |
| Brightstar Lottery PLC, 5.25%, 1/15/29<sup>(1)</sup> | 875000 | 868463 |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 733000 | 705388 |
| Carnival Corp., 4.00%, 8/1/28<sup>(1)</sup> | 563000 | 549988 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)</sup> | 411000 | 408208 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 555000 | 566030 |
| Marriott International, Inc., 5.10%, 5/1/38 | 255000 | 242533 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 290000 | 292969 |
|  |  | 4148525 |
| **Household Durables — 0.2%** |  |  |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 234000 | 226094 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 35000 | 34652 |
| KB Home, 4.80%, 11/15/29 | 193000 | 188065 |
| Taylor Morrison Communities, Inc., 5.75%, 11/15/32<sup>(1)</sup> | 202000 | 202417 |
|  |  | 651228 |
| **Independent Power and Renewable Electricity Producers — 0.1%** |  |  |
| FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple, 7.25%, 1/31/41<sup>(1)</sup> | 396203 | 397293 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **Industrial Conglomerates — 0.1%** | | |
| Eaton Corp., 4.20%, 3/6/31 | $260000 | $256333 |
| Eaton Corp., 4.80%, 3/6/36 | 230000 | 227166 |
|  |  | 483499 |
| **Insurance — 1.9%** |  |  |
| Allianz SE, VRN, 6.35%, 9/6/53<sup>(1)</sup> | 600000 | 624950 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.00%, 12/31/32<sup>(1)</sup> | 265000 | 275146 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.375%, 2/1/34<sup>(1)</sup> | 420000 | 408060 |
| Athene Global Funding, 5.53%, 7/11/31<sup>(1)</sup> | 255000 | 255260 |
| CNA Financial Corp., 5.20%, 8/15/35 | 539000 | 527759 |
| CNO Financial Group, Inc., 5.25%, 5/30/29 | 565000 | 566370 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 135000 | 135644 |
| Global Atlantic Fin Co., 7.95%, 6/15/33<sup>(1)</sup> | 940000 | 1009075 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 882000 | 861805 |
| Lincoln National Corp., 7.00%, 6/15/40 | 225000 | 244164 |
| Loews Corp., 4.94%, 4/1/36 | 360000 | 352540 |
| MetLife, Inc., 6.40%, 12/15/66 | 970000 | 990756 |
| MetLife, Inc., 10.75%, 8/1/69 | 380000 | 492681 |
| RLI Corp., 5.375%, 6/1/36 | 505000 | 486410 |
|  |  | 7230620 |
| **Interactive Media and Services — 1.0%** |  |  |
| Alphabet, Inc., 4.40%, 2/15/33 | 690000 | 681606 |
| Alphabet, Inc., 4.80%, 2/15/36 | 480000 | 478130 |
| Alphabet, Inc., 5.65%, 2/15/56 | 435000 | 433912 |
| Meta Platforms, Inc., 4.60%, 11/15/32 | 635000 | 628985 |
| Meta Platforms, Inc., 4.875%, 11/15/35 | 415000 | 407297 |
| Meta Platforms, Inc., 5.50%, 11/15/45 | 215000 | 203596 |
| Meta Platforms, Inc., 5.625%, 11/15/55 | 605000 | 567526 |
| Meta Platforms, Inc., 5.75%, 11/15/65 | 315000 | 292803 |
|  |  | 3693855 |
| **IT Services — 0.3%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 467000 | 454211 |
| International Business Machines Corp., 5.80%, 2/3/56 | 275000 | 263107 |
| Kyndryl Holdings, Inc., 3.15%, 10/15/31 | 460000 | 383692 |
|  |  | 1101010 |
| **Machinery — 0.6%** |  |  |
| Allison Transmission, Inc., 5.875%, 12/1/33<sup>(1)</sup> | 810000 | 805476 |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> | 850000 | 884134 |
| Weir Group, Inc., 5.35%, 5/6/30<sup>(1)</sup> | 428000 | 433953 |
|  |  | 2123563 |
| **Media — 2.0%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.00%, 2/1/28<sup>(1)</sup> | 420000 | 416806 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30<sup>(1)</sup> | 835000 | 792836 |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 260000 | 257907 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 597000 | 565622 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 890000 | 860119 |
| Discovery Communications LLC, 5.00%, 9/20/37 | 500000 | 362133 |
| Lamar Media Corp., 3.75%, 2/15/28 | 555000 | 540135 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 1055000 | 1038136 |
| Nexstar Media, Inc., 6.50%, 9/15/33<sup>(1)</sup> | 466000 | 469832 |
| Nexstar Media, Inc., 7.25%, 4/15/34<sup>(1)(2)</sup> | 552000 | 554228 |
| Omnicom Group, Inc., 5.00%, 6/2/33 | 345000 | 337091 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Paramount Global, VRN, 6.25%, 2/28/57 | $394000 | $265950 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 1085000 | 1047954 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(1)</sup> | 400000 | 392238 |
|  |  | 7900987 |
| **Metals and Mining — 0.4%** |  |  |
| Commercial Metals Co., 5.75%, 11/15/33<sup>(1)</sup> | 560000 | 554636 |
| Glencore Funding LLC, 4.90%, 7/1/31<sup>(1)(2)</sup> | 235000 | 234981 |
| Glencore Funding LLC, 5.51%, 4/1/36<sup>(1)(2)</sup> | 485000 | 486272 |
| Glencore Funding LLC, 5.89%, 4/4/54<sup>(1)</sup> | 55000 | 53787 |
| Rio Tinto Finance USA PLC, 5.75%, 3/14/55 | 221000 | 220639 |
|  |  | 1550315 |
| **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> | 525000 | 509162 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 1415000 | 1463677 |
|  |  | 1972839 |
| **Multi-Utilities — 0.3%** |  |  |
| Sempra, 3.25%, 6/15/27 | 332000 | 327418 |
| Sempra, VRN, 4.125%, 4/1/52 | 1022000 | 995014 |
|  |  | 1322432 |
| **Oil, Gas and Consumable Fuels — 2.6%** |  |  |
| Antero Resources Corp., 5.40%, 2/1/36 | 414000 | 407400 |
| Azule Energy Finance PLC, 8.25%, 1/22/31<sup>(1)</sup> | 218000 | 220398 |
| Cenovus Energy, Inc., 5.40%, 3/20/36 | 232000 | 230928 |
| Cheniere Energy, Inc., 5.20%, 7/30/36<sup>(1)</sup> | 199000 | 197045 |
| Cheniere Energy, Inc., 6.00%, 7/30/56<sup>(1)</sup> | 273000 | 272221 |
| Columbia Pipelines Holding Co. LLC, 5.00%, 11/17/32<sup>(1)</sup> | 402000 | 399510 |
| Ecopetrol SA, 7.75%, 2/1/32 | 640000 | 646844 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 965000 | 965894 |
| Energy Transfer LP, 6.125%, 12/15/45 | 325000 | 317875 |
| Energy Transfer LP, 5.95%, 5/15/54 | 400000 | 375413 |
| Expand Energy Corp., 5.375%, 3/15/30 | 837000 | 844340 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 275000 | 278195 |
| Northern Natural Gas Co., 5.625%, 2/1/54<sup>(1)</sup> | 95000 | 90659 |
| Occidental Petroleum Corp., 6.20%, 3/15/40 | 205000 | 209522 |
| Occidental Petroleum Corp., 4.10%, 2/15/47 | 220000 | 158097 |
| Occidental Petroleum Corp., 4.20%, 3/15/48 | 200000 | 150475 |
| Ovintiv, Inc., 7.10%, 7/15/53 | 335000 | 363647 |
| Permian Resources Operating LLC, 5.875%, 7/1/29<sup>(1)</sup> | 242000 | 242419 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 1702000 | 1628555 |
| Plains All American Pipeline LP/PAA Finance Corp., 5.60%, 1/15/36 | 258000 | 258944 |
| PRIO Luxembourg Holding SARL, 6.75%, 10/15/30<sup>(1)</sup> | 299000 | 291226 |
| Shell Finance U.S., Inc., 4.375%, 5/11/45 | 145000 | 123396 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 289000 | 296979 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 177000 | 175170 |
| Valero Energy Corp., 5.15%, 3/10/36 | 402000 | 396433 |
| Venture Global Plaquemines LNG LLC, 6.50%, 6/15/34<sup>(1)</sup> | 961 | 1001 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 477000 | 505526 |
|  |  | 10048112 |
| **Paper and Forest Products — 0.1%** |  |  |
| Louisiana-Pacific Corp., 3.625%, 3/15/29<sup>(1)</sup> | 394000 | 378176 |
| **Passenger Airlines — 0.7%** |  |  |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 415000 | 417682 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | $24 | $25 |
| Avianca Midco 2 PLC, 9.625%, 2/14/30<sup>(1)</sup> | 400000 | 374456 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 575000 | 544191 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 300000 | 303375 |
| United Airlines Holdings, Inc., 5.375%, 3/1/31 | 680000 | 666785 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 315000 | 309260 |
|  |  | 2615774 |
| **Personal Care Products — 0.1%** |  |  |
| Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 5.60%, 1/15/31<sup>(1)</sup> | 565000 | 547282 |
| **Pharmaceuticals — 0.3%** |  |  |
| Bristol-Myers Squibb Co., 5.55%, 2/22/54 | 385000 | 370975 |
| Merck & Co., Inc., 5.70%, 9/15/55 | 267000 | 265343 |
| Novartis Capital Corp., 4.60%, 3/18/33 | 310000 | 308774 |
| Novartis Capital Corp., 5.70%, 3/18/56 | 155000 | 156217 |
|  |  | 1101309 |
| **Professional Services — 0.2%** |  |  |
| Concentrix Corp., 6.60%, 8/2/28 | 940000 | 934535 |
| **Real Estate Management and Development — 0.3%** |  |  |
| Arbor Realty SR, Inc., 8.50%, 12/15/28<sup>(1)</sup> | 435000 | 427682 |
| CBRE Services, Inc., 4.90%, 1/15/33 | 675000 | 665928 |
|  |  | 1093610 |
| **Semiconductors and Semiconductor Equipment — 0.8%** |  |  |
| Foundry JV Holdco LLC, 6.25%, 1/25/35<sup>(1)</sup> | 475000 | 498002 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 300000 | 309372 |
| Foundry JV Holdco LLC, 6.30%, 1/25/39<sup>(1)</sup> | 597000 | 622648 |
| Intel Corp., 5.15%, 2/21/34 | 305000 | 304276 |
| Intel Corp., 4.90%, 8/5/52 | 165000 | 134902 |
| Micron Technology, Inc., 5.30%, 1/15/31 | 1035000 | 1083705 |
|  |  | 2952905 |
| **Software — 1.4%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 94000 | 94567 |
| AppLovin Corp., 5.375%, 12/1/31 | 437000 | 441446 |
| AppLovin Corp., 5.50%, 12/1/34 | 360000 | 357163 |
| Oracle Corp., 4.80%, 9/26/32 | 870000 | 828801 |
| Oracle Corp., 5.35%, 5/4/33 | 475000 | 462572 |
| Oracle Corp., 5.20%, 9/26/35 | 487000 | 457049 |
| Oracle Corp., 5.70%, 2/4/36 | 222000 | 213547 |
| Oracle Corp., 5.375%, 7/15/40 | 15000 | 13144 |
| Salesforce, Inc., 4.90%, 9/15/31 | 595000 | 594298 |
| Salesforce, Inc., 5.20%, 3/15/33 | 440000 | 439375 |
| Salesforce, Inc., 6.55%, 3/15/56 | 320000 | 321325 |
| Synopsys, Inc., 5.00%, 4/1/32 | 770000 | 776940 |
| Workday, Inc., 3.80%, 4/1/32 | 431000 | 400258 |
|  |  | 5400485 |
| **Specialized REITs — 0.0%** |  |  |
| EPR Properties, 4.95%, 4/15/28 | 90000 | 89897 |
| **Specialty Retail — 0.5%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 38000 | 38521 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> | 680000 | 689292 |
| Lowe's Cos., Inc., 4.50%, 10/15/32 | 395000 | 388342 |
| Lowe's Cos., Inc., 4.85%, 10/15/35 | 645000 | 628359 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| O'Reilly Automotive, Inc., 5.10%, 3/12/36 | $210000 | $207331 |
|  |  | 1951845 |
| **Technology Hardware, Storage and Peripherals — 0.1%** |  |  |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 | 186000 | 188958 |
| **Textiles, Apparel and Luxury Goods — 0.2%** |  |  |
| Gildan Activewear, Inc., 4.70%, 10/7/30<sup>(1)</sup> | 275000 | 272195 |
| Gildan Activewear, Inc., 5.40%, 10/7/35<sup>(1)</sup> | 450000 | 439165 |
|  |  | 711360 |
| **Trading Companies and Distributors — 0.1%** |  |  |
| Herc Holdings, Inc., 7.25%, 6/15/33<sup>(1)</sup> | 348000 | 356906 |
| **TOTAL CORPORATE BONDS**<br>(Cost $144,400,982) |  | **142997464** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 24.7%** |  |  |
| **Adjustable-Rate U.S. Government Agency Mortgage-Backed Security — 0.0%** |  |  |
| FNMA, VRN, 3.17%, (1-year RFUCC plus 1.61%), 3/1/47 | 11977 | 12157 |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 24.7%** |  |  |
| FHLMC, 6.00%, 9/1/35 | 100970 | 104717 |
| FHLMC, 6.00%, 2/1/38 | 51669 | 54289 |
| FHLMC, 3.50%, 2/1/49 | 1789297 | 1657697 |
| FHLMC, 3.50%, 5/1/50 | 292978 | 271166 |
| FHLMC, 2.50%, 10/1/50 | 1432770 | 1210312 |
| FHLMC, 2.50%, 5/1/51 | 1978184 | 1688142 |
| FHLMC, 3.50%, 5/1/51 | 525273 | 486484 |
| FHLMC, 3.00%, 7/1/51 | 1289277 | 1143691 |
| FHLMC, 2.00%, 8/1/51 | 1676874 | 1364067 |
| FHLMC, 3.00%, 12/1/51 | 413254 | 364659 |
| FHLMC, 2.50%, 2/1/52 | 1951828 | 1665734 |
| FHLMC, 3.00%, 2/1/52 | 1835441 | 1635865 |
| FHLMC, 3.50%, 5/1/52 | 959132 | 888743 |
| FHLMC, 4.00%, 5/1/52 | 890352 | 848953 |
| FHLMC, 4.00%, 5/1/52 | 523256 | 494999 |
| FHLMC, 4.00%, 6/1/52 | 2283208 | 2172745 |
| FHLMC, 5.00%, 6/1/52 | 995254 | 988721 |
| FHLMC, 5.00%, 7/1/52 | 584481 | 584209 |
| FHLMC, 4.50%, 10/1/52 | 2405701 | 2328658 |
| FHLMC, 4.50%, 10/1/52 | 743578 | 721124 |
| FHLMC, 5.50%, 12/1/52 | 530337 | 537786 |
| FHLMC, 5.00%, 6/1/53 | 3112755 | 3087689 |
| FHLMC, 5.00%, 6/1/53 | 1783151 | 1767212 |
| FHLMC, 5.00%, 1/1/54 | 1248076 | 1234568 |
| FHLMC, 5.00%, 12/1/54 | 1256419 | 1240963 |
| FHLMC, 5.50%, 11/1/55 | 2240808 | 2253623 |
| FHLMC, 5.50%, 1/1/56 | 2200484 | 2217105 |
| FNMA, 6.00%, 12/1/33 | 50429 | 51432 |
| FNMA, 6.00%, 9/1/37 | 80036 | 84004 |
| FNMA, 6.00%, 11/1/37 | 76554 | 80358 |
| FNMA, 6.50%, 5/1/39 | 34652 | 36303 |
| FNMA, 4.00%, 8/1/41 | 362224 | 350042 |
| FNMA, 3.50%, 5/1/42 | 127303 | 120481 |
| FNMA, 3.50%, 5/1/45 | 192393 | 180763 |
| FNMA, 4.00%, 11/1/45 | 220156 | 211812 |
| FNMA, 4.00%, 11/1/45 | 94067 | 90415 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| FNMA, 4.00%, 2/1/46 | $358775 | $344844 |
| FNMA, 4.00%, 4/1/46 | 278068 | 267242 |
| FNMA, 3.50%, 2/1/47 | 530050 | 491444 |
| FNMA, 2.50%, 6/1/50 | 544006 | 463259 |
| FNMA, 2.50%, 12/1/51 | 1361903 | 1165514 |
| FNMA, 2.50%, 2/1/52 | 717422 | 613956 |
| FNMA, 3.00%, 2/1/52 | 1973168 | 1755197 |
| FNMA, 3.00%, 2/1/52 | 1286014 | 1143943 |
| FNMA, 2.00%, 3/1/52 | 2908701 | 2384122 |
| FNMA, 3.00%, 3/1/52 | 1121981 | 999192 |
| FNMA, 3.00%, 4/1/52 | 1621819 | 1442165 |
| FNMA, 3.50%, 4/1/52 | 594488 | 546643 |
| FNMA, 4.00%, 4/1/52 | 1474373 | 1399255 |
| FNMA, 4.00%, 4/1/52 | 508607 | 484958 |
| FNMA, 4.00%, 4/1/52 | 463086 | 439958 |
| FNMA, 3.00%, 5/1/52 | 1167298 | 1045291 |
| FNMA, 3.50%, 5/1/52 | 1195900 | 1100244 |
| FNMA, 4.00%, 5/1/52 | 1452482 | 1372079 |
| FNMA, 3.50%, 6/1/52 | 1356197 | 1255999 |
| FNMA, 2.50%, 7/1/52 | 862191 | 730437 |
| FNMA, 4.50%, 7/1/52 | 423713 | 410874 |
| FNMA, 4.50%, 9/1/52 | 727022 | 709297 |
| FNMA, 5.00%, 9/1/52 | 926740 | 925033 |
| FNMA, 5.50%, 10/1/52 | 1318652 | 1331127 |
| FNMA, 5.50%, 1/1/53 | 2677410 | 2705470 |
| FNMA, 5.50%, 3/1/53 | 604863 | 614283 |
| FNMA, 4.50%, 8/1/53 | 531665 | 515989 |
| FNMA, 5.50%, 3/1/54 | 3148914 | 3173418 |
| FNMA, 4.50%, 4/1/54 | 3937274 | 3812862 |
| FNMA, 4.50%, 2/1/55 | 744079 | 721303 |
| GNMA, 5.00%, TBA | 1938000 | 1919660 |
| GNMA, 7.50%, 8/15/26 | 5 | 5 |
| GNMA, 6.50%, 5/15/28 | 258 | 266 |
| GNMA, 7.00%, 5/15/31 | 428 | 443 |
| GNMA, 5.50%, 12/15/32 | 18914 | 19296 |
| GNMA, 4.50%, 8/15/33 | 26928 | 26767 |
| GNMA, 6.00%, 9/20/38 | 29847 | 31643 |
| GNMA, 6.00%, 1/20/39 | 6671 | 7014 |
| GNMA, 4.50%, 4/15/39 | 42610 | 42051 |
| GNMA, 4.50%, 6/15/39 | 102229 | 101828 |
| GNMA, 4.50%, 1/15/40 | 79114 | 78730 |
| GNMA, 4.50%, 4/15/40 | 65810 | 64932 |
| GNMA, 4.50%, 12/15/40 | 124444 | 123393 |
| GNMA, 3.50%, 6/20/42 | 344950 | 327141 |
| GNMA, 3.00%, 5/20/50 | 463011 | 414976 |
| GNMA, 3.00%, 7/20/50 | 886594 | 794181 |
| GNMA, 3.50%, 6/20/51 | 903081 | 842778 |
| GNMA, 3.00%, 7/20/51 | 1942604 | 1737613 |
| GNMA, 4.00%, 9/20/52 | 3265241 | 3091386 |
| GNMA, 4.50%, 9/20/52 | 3100826 | 3021294 |
| GNMA, 4.50%, 10/20/52 | 3058634 | 2981599 |
| GNMA, 4.00%, 4/20/54 | 4385553 | 4122042 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| GNMA, 5.00%, 12/20/54 | $1735829 | $1727666 |
| UMBS, 5.00%, TBA | 5174000 | 5103432 |
|  |  | 95165065 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $96,480,476) |  | **95177222** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 11.7%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 11.3%** |  |  |
| Angel Oak Mortgage Trust, Series 2024-3, Class A1, 4.80%, 11/26/68<sup>(1)</sup> | 373318 | 371378 |
| Barclays Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 12/25/65<sup>(1)</sup> | 1990208 | 1965202 |
| BRAVO Residential Funding Trust, Series 2024-NQM1, Class A2, 6.10%, 12/1/63<sup>(1)</sup> | 236788 | 237578 |
| BRAVO Residential Funding Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> | 990745 | 955326 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 467084 | 467719 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 84703 | 84563 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, SEQ, VRN, 6.00%, 6/25/56<sup>(1)</sup> | 1783718 | 1794031 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 1484 | 1459 |
| CHNGE Mortgage Trust, Series 2022-NQM1, Class A2, 5.82%, 6/25/67<sup>(1)</sup> | 615561 | 613975 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 784241 | 785389 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 574564 | 577034 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-CMI1, Class A5, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 211463 | 211231 |
| COLT Mortgage Loan Trust, Series 2024-4, Class A2, 6.20%, 7/25/69<sup>(1)</sup> | 825745 | 833033 |
| COLT Mortgage Loan Trust, Series 2025-3, Class A2, 5.56%, 3/25/70<sup>(1)</sup> | 982586 | 983573 |
| COLT Mortgage Loan Trust, Series 2025-8, Class A3, 5.89%, 8/25/70<sup>(1)</sup> | 754201 | 757419 |
| Eagle RE Ltd., Series 2023-1, Class M1A, VRN, 5.66%, (30-day average SOFR plus 2.00%), 9/26/33<sup>(1)</sup> | 59160 | 59206 |
| Ellington Financial Mortgage Trust, Series 2024-CES1, Class A2, 5.80%, 1/26/60<sup>(1)</sup> | 906000 | 912450 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ3, Class A4, VRN, 6.00%, 7/25/55<sup>(1)</sup> | 510865 | 513459 |
| HOMES Trust, Series 2025-AFC3, Class A1, VRN, 4.93%, 8/25/60<sup>(1)</sup> | 919997 | 917478 |
| JP Morgan Mortgage Trust, Series 2005-S2, Class 3A1, VRN, 7.17%, 2/25/32 | 7312 | 7191 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 564948 | 565924 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 297119 | 297163 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A3, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 886445 | 882712 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 1276155 | 1288947 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 242665 | 242600 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 53845 | 53741 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 577813 | 580310 |
| JP Morgan Mortgage Trust, Series 2025-11, Class A4, SEQ, VRN, 5.50%, 5/25/56<sup>(1)</sup> | 1453872 | 1456409 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A1D, 5.50%, 11/25/55<sup>(1)</sup> | 726006 | 725471 |
| JP Morgan Mortgage Trust, Series 2025-7MPR, Class A3, 5.85%, 2/25/56<sup>(1)</sup> | 534352 | 533073 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4, SEQ, VRN, 6.00%, 9/25/55<sup>(1)</sup> | 1395593 | 1403142 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A1, VRN, 4.89%, 4/25/66<sup>(1)</sup> | 1969191 | 1959352 |
| JP Morgan Mortgage Trust, Series 2026-NQX1, Class A2, 5.81%, 7/25/66<sup>(1)</sup> | 1325000 | 1324985 |
| MFA Trust, Series 2023-NQM3, Class A1, SEQ, 6.62%, 7/25/68<sup>(1)</sup> | 963593 | 966257 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2023-2, Class A4, VRN, 6.00%, 6/25/53<sup>(1)</sup> | 1188520 | 1192158 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.73%, 1/26/71<sup>(1)</sup> | 1085185 | 1075557 |
| OBX Trust, Series 2025-J3, Class A5, SEQ, VRN, 5.00%, 10/25/55<sup>(1)</sup> | 860623 | 854350 |
| PMT Loan Trust, Series 2025-J3, Class A8, VRN, 5.50%, 11/27/56<sup>(1)</sup> | 885596 | 887031 |
| PMT Loan Trust, Series 2025-J5, Class A5, VRN, 5.50%, 1/25/57<sup>(1)</sup> | 1490471 | 1493103 |
| PRKCM Trust, Series 2024-HOME1, Class A1, 6.43%, 5/25/59<sup>(1)</sup> | 578557 | 584183 |
| PRKCM Trust, Series 2026-AFC1, Class A1, VRN, 4.68%, 2/25/61<sup>(1)</sup> | 1492645 | 1478069 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 1104566 | 1106057 |
| Provident Funding Mortgage Trust, Series 2025-2, Class A4, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 840317 | 841288 |
| Provident Funding Mortgage Trust, Series 2025-4, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 950828 | 952514 |
| Rate Mortgage Trust, Series 2025-J1, Class A4, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 605088 | 608224 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 1/25/66<sup>(1)</sup> | $1128873 | $1117358 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 141157 | 141092 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 295027 | 295515 |
| Sequoia Mortgage Trust, Series 2024-2, Class A4, VRN, 5.98%, 3/25/54<sup>(1)</sup> | 753859 | 756687 |
| Sequoia Mortgage Trust, Series 2024-6, Class A11, SEQ, VRN, 6.00%, 7/27/54<sup>(1)</sup> | 528783 | 529115 |
| Sequoia Mortgage Trust, Series 2025-11, Class A5, VRN, 5.00%, 11/25/55<sup>(1)</sup> | 1655558 | 1643169 |
| SoFi Mortgage Trust, Series 2016-1A, Class 1A4, SEQ, VRN, 3.00%, 11/25/46<sup>(1)</sup> | 66401 | 59828 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.22%, 6/25/69<sup>(1)</sup> | 436646 | 440492 |
| Verus Securitization Trust, Series 2026-2, Class A3, 5.05%, 2/25/71<sup>(1)</sup> | 2309302 | 2285244 |
|  |  | 43669814 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.4%** |  |  |
| FHLMC, Series 3397, Class GF, VRN, 4.29%, (30-day average SOFR plus 0.61%), 12/15/37 | 48596 | 48433 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 8127973 | 1022870 |
| FNMA, Series 2023-R05, Class 1M1, VRN, 5.56%, (30-day average SOFR plus 1.90%), 6/25/43<sup>(1)</sup> | 188181 | 189051 |
| GNMA, Series 2007-5, Class FA, VRN, 3.93%, (1-month SOFR plus 0.25%), 2/20/37 | 70636 | 70614 |
|  |  | 1330968 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $44,882,200) |  | **45000782** |
| **ASSET-BACKED SECURITIES — 9.8%** |  |  |
| Barclays Mortgage Loan Trust, Series 2026-CES1, Class A1A, 4.85%, 1/25/56<sup>(1)</sup> | 1826282 | 1809816 |
| BRAVO Residential Funding Trust, Series 2024-CES1, Class A1A, 6.38%, 4/25/54<sup>(1)</sup> | 220951 | 223028 |
| Capital Automotive REIT, Series 2024-2A, Class A2, SEQ, 5.25%, 5/15/54<sup>(1)</sup> | 808156 | 808695 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> | 132931 | 132302 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-1A, Class A2, SEQ, 4.76%, 3/22/49<sup>(1)</sup> | 1500000 | 1471765 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> | 750000 | 729933 |
| DI Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.72%, 9/15/51<sup>(1)</sup> | 2462092 | 2354385 |
| FinBe USA Trust, Series 2025-1A, Class A, SEQ, 5.70%, 12/15/28<sup>(1)</sup> | 810371 | 810521 |
| FIP Master Funding LLC, Series 2026-1A, Class A1, SEQ, 4.90%, 3/15/56<sup>(1)</sup> | 1395000 | 1394898 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(1)</sup> | 1775000 | 1766859 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class A, 2.31%, 10/20/48<sup>(1)</sup> | 550033 | 441326 |
| JP Morgan Mortgage Trust, Series 2025-CES7, Class A1A, 5.06%, 4/25/56<sup>(1)</sup> | 736913 | 734017 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A1A, 4.91%, 6/25/56<sup>(1)</sup> | 2110562 | 2095255 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> | 1394653 | 1403499 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> | 738152 | 743270 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> | 520166 | 497718 |
| MP LLC, Series 2025-1A, Class A, SEQ, 5.55%, 11/15/65<sup>(1)</sup> | 1409995 | 1400991 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 1700000 | 1095447 |
| Purchasing Power Funding LLC, Series 2026-A, Class A, SEQ, 4.37%, 8/15/30<sup>(1)</sup> | 1418000 | 1410727 |
| RCKT Mortgage Trust, Series 2026-CES2, Class A1A, 4.76%, 2/25/56<sup>(1)</sup> | 1752911 | 1734973 |
| RKTL Trust, Series 2026-1A, Class A, SEQ, 4.07%, 2/26/35<sup>(1)</sup> | 1192093 | 1191022 |
| RNL PH Owner LLC, Series 2026-1A, Class A, SEQ, 4.91%, 3/20/56<sup>(1)</sup> | 901173 | 888342 |
| Santander Mortgage Asset Receivable Trust, Series 2025-CES1, Class A1A, 5.04%, 9/25/55<sup>(1)</sup> | 1863189 | 1856095 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A, SEQ, 4.88%, 1/25/56<sup>(1)</sup> | 1548331 | 1537675 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1B, SEQ, 4.98%, 1/25/56<sup>(1)</sup> | 480720 | 476864 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 1214000 | 1236681 |
| Stack Infrastructure Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.00%, 3/27/56<sup>(1)</sup> | 1403397 | 1353253 |
| SVC ABS LLC, Series 2026-1A, Class A, SEQ, 5.16%, 3/20/56<sup>(1)</sup> | 921218 | 921201 |
| Switch ABS Issuer LLC, Series 2024-2A, Class A2, SEQ, 5.44%, 6/25/54<sup>(1)</sup> | 575000 | 564584 |
| Towd Point Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 5.85%, 1/25/64<sup>(1)</sup> | 617604 | 619087 |
| Trackside Rail LLC, Series 2026-1A, Class A, SEQ, 4.89%, 3/20/56<sup>(1)</sup> | 1466000 | 1450860 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.87%, 5/15/54<sup>(1)</sup> |  | $1000000 | $1026707 |
| Vertical Bridge CC LLC, Series 2025-1A, Class A, SEQ, 5.16%, 8/16/55<sup>(1)</sup> |  | 1508826 | 1503799 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $38,105,269) |  |  | **37685595** |
| **CONVERTIBLE PREFERRED SECURITIES — 6.0%** |  |  |  |
| **Banks — 5.6%** |  |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% |  | 400000 | 399360 |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% |  | 200000 | 216228 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> |  | 431000 | 426015 |
| Banco Mercantil del Norte SA, 7.50%<sup>(1)</sup> |  | 200000 | 200113 |
| Banco Santander SA, 4.75% |  | 1800000 | 1781362 |
| Banco Santander SA, 9.625% |  | 400000 | 431076 |
| Barclays PLC, 8.00% |  | 1218000 | 1260982 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> |  | 2010000 | 2095620 |
| Commerzbank AG, 7.50% |  | 600000 | 608657 |
| Credit Agricole SA, VRN, 4.75%<sup>(1)</sup> |  | 556000 | 529707 |
| HSBC Holdings PLC, 6.50% |  | 1200000 | 1199674 |
| HSBC Holdings PLC, 6.875% |  | 789000 | 794837 |
| HSBC Holdings PLC, VRN, 6.75% |  | 520000 | 514592 |
| ING Groep NV, 4.875% |  | 2145000 | 2023203 |
| ING Groep NV, 7.50% |  | 1050000 | 1074280 |
| Lloyds Banking Group PLC, 8.00% |  | 960000 | 1008528 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> |  | 651000 | 655492 |
| Skandinaviska Enskilda Banken AB, 6.875% |  | 1000000 | 1006301 |
| Societe Generale SA, 6.75%<sup>(1)</sup> |  | 205000 | 204342 |
| Societe Generale SA, 9.375%<sup>(1)</sup> |  | 1560000 | 1631961 |
| Societe Generale SA, 10.00%<sup>(1)</sup> |  | 380000 | 410649 |
| Standard Chartered PLC, 7.75%<sup>(1)</sup> |  | 280000 | 286568 |
| Svenska Handelsbanken AB, 4.375% |  | 1000000 | 983599 |
| Swedbank AB, 7.625% |  | 1600000 | 1646075 |
|  |  |  | 21389221 |
| **Capital Markets — 0.4%** |  |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> |  | 1550000 | 1653005 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $23,161,763) |  |  | **23042226** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 3.2%** |  |  |  |
| **Colombia — 0.6%** |  |  |  |
| Colombia Government International Bonds, 6.125%, 1/21/31 |  | $2000000 | 1970000 |
| Colombia Government International Bonds, 7.75%, 11/7/36 |  | 200000 | 204790 |
|  |  |  | 2174790 |
| **Mexico — 0.4%** |  |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> |  | 1558000 | 1568127 |
| **New Zealand — 1.3%** |  |  |  |
| New Zealand Government Bonds, 4.50%, 5/15/35 | NZD | 4100000 | 2334768 |
| New Zealand Government Bonds, 4.25%, 5/15/36 | NZD | 5100000 | 2822872 |
|  |  |  | 5157640 |
| **Romania — 0.4%** |  |  |  |
| Romania Government International Bonds, 5.75%, 7/4/36<sup>(1)</sup> |  | $1700000 | 1580758 |
| **Saudi Arabia — 0.5%** |  |  |  |
| Saudi Government International Bonds, 4.875%, 1/12/36<sup>(1)</sup> |  | 2100000 | 2049320 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $12,807,831) |  |  | **12530635** |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
|<br>**PREFERRED SECURITIES — 2.3%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Banks — 0.6%** | | |
| Citigroup, Inc., 7.625% | 1746000 | $1806602 |
| JPMorgan Chase & Co., 3.65% | 352000 | 350588 |
|  |  | 2157190 |
| **Capital Markets — 0.4%** |  |  |
| Charles Schwab Corp., 4.00% | 1638000 | 1627921 |
| **Multi-Utilities — 0.1%** |  |  |
| Dominion Energy, Inc., 4.35% | 570000 | 561464 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| Energy Transfer LP, 6.50% | 620000 | 619271 |
| Energy Transfer LP, 6.625% | 1010000 | 1010902 |
|  |  | 1630173 |
| **Trading Companies and Distributors — 0.8%** |  |  |
| Air Lease Corp., 4.65% | 800000 | 798545 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 2233000 | 2229909 |
|  |  | 3028454 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $8,961,560) |  | **9005202** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.3%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | $304000 | 251489 |
| Bank, Series 2019-BN17, Class D, 3.00%, 4/15/52<sup>(1)</sup> | 388000 | 325087 |
| Bank, Series 2021-BN36, Class D, VRN, 2.50%, 9/15/64<sup>(1)</sup> | 387896 | 290908 |
| BBCMS Mortgage Trust, Series 2019-C5, Class D, 2.50%, 11/15/52<sup>(1)</sup> | 415246 | 331155 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class AS, SEQ, VRN, 6.41%, 7/15/57 | 1337000 | 1389469 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.09%, 7/15/51<sup>(1)</sup> | 529000 | 421600 |
| Benchmark Mortgage Trust, Series 2020-B16, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 752000 | 573005 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 318000 | 211851 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.29%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 469000 | 464752 |
| CSAIL Commercial Mortgage Trust, Series 2019-C15, Class D, 3.00%, 3/15/52<sup>(1)</sup> | 625000 | 516749 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class A, SEQ, 7.07%, 11/10/39<sup>(1)</sup> | 860000 | 868476 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 289000 | 239427 |
| Morgan Stanley Capital I Trust, Series 2020-L4, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 628000 | 480958 |
| ONNI Commerical Mortgage Trust, Series 2024-APT, Class A, SEQ, VRN, 5.20%, 7/15/39<sup>(1)</sup> | 1355000 | 1372751 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.67%, 12/10/34<sup>(1)</sup> | 970000 | 977155 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.14%, 12/15/51<sup>(1)</sup> | 240000 | 219084 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $8,424,499) |  | **8933916** |
| **MUNICIPAL SECURITIES — 1.3%** |  |  |
| California State University Rev., 2.98%, 11/1/51 | 400000 | 262240 |
| Escambia County Health Facilities Authority Rev., (Baptist Hospital, Inc. Obligated Group), 3.61%, 8/15/40 (AG) | 105000 | 85134 |
| Foothill-Eastern Transportation Corridor Agency Rev., 4.09%, 1/15/49 | 387000 | 314300 |
| Golden State Tobacco Securitization Corp. Rev., 2.75%, 6/1/34 | 595000 | 526922 |
| Houston GO, 3.96%, 3/1/47 | 255000 | 215592 |
| Los Angeles Community College District GO, 6.75%, 8/1/49 | 130000 | 144909 |
| Metropolitan St. Louis Sewer District Rev., Series C, 3.26%, 5/1/45 | 250000 | 194013 |
| Michigan Strategic Fund Rev., (Flint Water Advocacy Fund), 3.23%, 9/1/47 | 580000 | 440343 |
| Missouri Highway & Transportation Commission Rev., 5.45%, 5/1/33 | 50000 | 51399 |
| New Jersey Turnpike Authority Rev., 7.10%, 1/1/41 | 40000 | 46189 |
| New York GO, Series B-1, 5.83%, 10/1/53 | 750000 | 761984 |
| Ohio Turnpike & Infrastructure Commission Rev., 3.22%, 2/15/48 | 455000 | 334643 |
| Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51 | 150000 | 139682 |

---

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60 | $225000 | $143087 |
| State of California GO, 7.60%, 11/1/40 | 25000 | 30018 |
| Sumter Landing Community Development District Rev., 5.57%, 10/1/40 (AG) | 65000 | 66558 |
| Sumter Landing Community Development District Rev., 5.74%, 10/1/45 (AG) | 100000 | 100960 |
| Sumter Landing Community Development District Rev., 5.82%, 10/1/54 (AG) | 185000 | 187423 |
| Texas Natural Gas Securitization Finance Corp. Rev., SEQ, 5.17%, 4/1/41 | 460000 | 466327 |
| United Nations Development Corp. Rev., (City of New York), Series A, 6.54%, 8/1/55 | 70000 | 73933 |
| University of California College of the Law San Francisco Rev., 5.99%, 8/1/50 (BAM) | 80000 | 80374 |
| University of California College of the Law San Francisco Rev., 6.09%, 8/1/55 (BAM) | 90000 | 90779 |
| University of California Rev., 3.07%, 5/15/51 | 220000 | 147158 |
| **TOTAL MUNICIPAL SECURITIES**<br>(Cost $5,786,436) |  | **4903967** |
| **U.S. TREASURY SECURITIES — 1.2%** |  |  |
| U.S. Treasury Notes, 4.125%, 8/31/30<sup>(3)</sup> | 2100000 | 2116488 |
| U.S. Treasury Notes, 4.25%, 2/28/31<sup>(3)</sup> | 2600000 | 2634074 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $4,753,870) |  | **4750562** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.6%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.14%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | 449524 | 449534 |
| Birch Grove CLO 4 Ltd., Series 2022-4A, Class BR, VRN, 5.47%, (3-month SOFR plus 1.80%), 7/15/37<sup>(1)</sup> | 1760000 | 1764127 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS**<br>(Cost $2,216,378) |  | **2213661** |
| **SHORT-TERM INVESTMENTS — 0.9%** |  |  |
| **Commercial Paper**<sup>(4)</sup> **— 0.9%** |  |  |
| Regatta Funding Co. LLC, 3.77%, 4/1/26<sup>(1)</sup> | 3300000 | 3299660 |
| **Money Market Funds — 0.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 197519 | 197519 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $3,497,519) |  | **3497179** |
| **TOTAL INVESTMENT SECURITIES — 101.0%**<br>(Cost $393,478,783) |  | **389738411** |
| **OTHER ASSETS AND LIABILITIES — (1.0)%** |  | **(3916180)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**385822231** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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 | 962019 | NZD | 1649065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | $11851 |
| USD | 962184 | NZD | 1648868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | 12129 |
| USD | 1587911 | NZD | 2720778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | 20238 |
| USD | 1820022 | NZD | 3086227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS AG | 6/17/26 | 41782 |
|  |  |  |  |  |  | $86000 |

---

------

Schedule of Investments - Core Plus 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 | 275 | June 2026 | $57047461 | $96346 |
| U.S. Treasury 5-Year Notes | 17 | June 2026 | 1839055 | (299) |
| U.S. Treasury 10-Year Notes | 53 | June 2026 | 5885484 | (31025) |
| U.S. Treasury Long Bonds | 140 | June 2026 | 15942500 | (316203) |
| U.S. Treasury Ultra Bonds | 180 | June 2026 | 20981250 | (684095) |
|  |  |  | $101695750 | $(935276) |

---

^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 | 73 | June 2026 | $8286641 | $8155 |

---

^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**<sup>‡</sup> | **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 45 | Sell | 5.00% | 12/20/30 | $11088000 | $621822 | $(19431) | $602391 |

---

‡The maximum potential amount the fund could be required to deliver as a seller of credit protection if a credit event occurs as defined under the terms of the agreement is the notional amount. The maximum potential amount may be partially offset by any recovery values of the reference entities and upfront payments received upon entering into the agreement.

^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.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** |
| **Counterparty** | **Floating <br>Rate Index** | **Pay/Receive <br>Floating Rate <br>Index<br>at Termination** | **Fixed Rate** | **Termination <br>Date** | **Notional <br>Amount** | **Notional <br>Amount** | **Value^** |
| Morgan Stanley | BZDIOVRA | Pay | 12.98% | 1/2/31 | BRL | 15000000 | $(91077) |

---

^Amount represents value and unrealized appreciation (depreciation).

------

Schedule of Investments - Core Plus Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AG | – | Assured Guaranty, Inc. |
| BAM | – | Build America Mutual Assurance Corp. |
| BRL | – | Brazilian Real |
| BZDIOVRA | – | Brazil Interbank Deposit Rate |
| CDX | – | Credit Derivatives Indexes |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| GNMA | – | Government National Mortgage Association |
| GO | – | General Obligation |
| IO | – | Interest Only |
| 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 $169,253,971, which represented 43.9% 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 $2,925,625.

(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.

------

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 |  | $142997464 |  |
| U.S. Government Agency Mortgage-Backed Securities |  | 95177222 |  |
| Collateralized Mortgage Obligations |  | 45000782 |  |
| Asset-Backed Securities |  | 37685595 |  |
| Convertible Preferred Securities |  | 23042226 |  |
| Sovereign Governments and Agencies |  | 12530635 |  |
| Preferred Securities |  | 9005202 |  |
| Commercial Mortgage-Backed Securities |  | 8933916 |  |
| Municipal Securities |  | 4903967 |  |
| U.S. Treasury Securities |  | 4750562 |  |
| Collateralized Loan Obligations |  | 2213661 |  |
| Short-Term Investments | $197519 | 3299660 |  |
|  | $197519 | $389540892 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $104501 |  |  |
| Swap Agreements |  | $602391 |  |
| Forward Foreign Currency Exchange Contracts |  | 86000 |  |
|  | $104501 | $688391 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $1031622 |  |  |
| Swap Agreements |  | $91077 |  |
|  | $1031622 | $91077 |  |

---

**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\* |  |  | $98790 | $98790 |
| &nbsp;&nbsp;Receivable for variation margin on swap agreements\* | $100150 |  |  | 100150 |
| Unrealized appreciation on forward foreign currency exchange contracts |  | $86000 |  | 86000 |
|  |  |  |  | $284940 |
| **Liability Derivatives:** |  |  |  |  |
| &nbsp;&nbsp;Swap agreements |  |  | $91077 | $91077 |

---

\*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 March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **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 |  | $144616 |  | $144616 |
| &nbsp;&nbsp;Futures contract transactions |  |  | $(348840) | (348840) |
| &nbsp;&nbsp;Swap agreement transactions | $(230144) |  |  | (230144) |
|  |  |  |  | $(434368) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $92297 |  | $92297 |
| &nbsp;&nbsp;Futures contracts |  |  | $(865958) | (865958) |
| &nbsp;&nbsp;Swap agreements | $(19431) |  | (91077) | (110508) |
|  |  |  |  | $(884169) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Diversified Bond Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 25.6%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities — 0.0%** | | |
| FNMA, VRN, 3.17%, (1-year RFUCC plus 1.61%), 3/1/47 | $730601 | $741594 |
| FNMA, VRN, 3.10%, (1-year RFUCC plus 1.61%), 4/1/47 | 491290 | 498316 |
|  |  | 1239910 |
| **Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 25.6%** |  |  |
| FHLMC, 6.00%, 9/1/35 | 690334 | 715952 |
| FHLMC, 6.00%, 2/1/38 | 400068 | 420352 |
| FHLMC, 3.50%, 2/1/49 | 19695344 | 18246783 |
| FHLMC, 3.00%, 1/1/50 | 18721322 | 16469650 |
| FHLMC, 3.50%, 5/1/50 | 4146058 | 3837387 |
| FHLMC, 2.50%, 5/1/51 | 7215877 | 6157883 |
| FHLMC, 3.00%, 7/1/51 | 10314219 | 9149529 |
| FHLMC, 2.00%, 8/1/51 | 13771836 | 11202815 |
| FHLMC, 2.50%, 8/1/51 | 21336533 | 18086840 |
| FHLMC, 3.00%, 12/1/51 | 16263019 | 14350644 |
| FHLMC, 3.00%, 2/1/52 | 14731995 | 13130115 |
| FHLMC, 3.50%, 5/1/52 | 10049706 | 9312178 |
| FHLMC, 4.00%, 5/1/52 | 16068628 | 15200871 |
| FHLMC, 4.00%, 5/1/52 | 13772263 | 13131884 |
| FHLMC, 3.00%, 6/1/52 | 7442596 | 6619889 |
| FHLMC, 4.00%, 6/1/52 | 27854124 | 26506535 |
| FHLMC, 5.00%, 7/1/52 | 7271851 | 7268467 |
| FHLMC, 4.50%, 8/1/52 | 5625804 | 5487925 |
| FHLMC, 4.50%, 10/1/52 | 19555203 | 18928948 |
| FHLMC, 4.50%, 10/1/52 | 11272176 | 10931793 |
| FHLMC, 5.50%, 11/1/52 | 7268302 | 7347433 |
| FHLMC, 5.50%, 12/1/52 | 5671741 | 5751403 |
| FHLMC, 5.50%, 11/1/55 | 23863465 | 23999947 |
| FHLMC, 5.50%, 1/1/56 | 23435102 | 23612121 |
| FNMA, 6.00%, 12/1/33 | 195602 | 199493 |
| FNMA, 6.00%, 9/1/37 | 508701 | 533917 |
| FNMA, 6.00%, 11/1/37 | 450272 | 472647 |
| FNMA, 6.50%, 5/1/39 | 257734 | 270019 |
| FNMA, 3.50%, 12/1/40 | 57571 | 54728 |
| FNMA, 4.00%, 8/1/41 | 2320069 | 2242041 |
| FNMA, 4.00%, 12/1/41 | 1183673 | 1143791 |
| FNMA, 3.50%, 5/1/42 | 509212 | 481926 |
| FNMA, 4.00%, 11/1/45 | 948949 | 912981 |
| FNMA, 4.00%, 11/1/45 | 864299 | 830738 |
| FNMA, 4.00%, 2/1/46 | 1462095 | 1405322 |
| FNMA, 4.00%, 4/1/46 | 2327085 | 2236483 |
| FNMA, 3.00%, 5/1/50 | 2401403 | 2164961 |
| FNMA, 2.50%, 6/1/50 | 7989988 | 6804040 |
| FNMA, 2.50%, 2/1/51 | 20681047 | 17758039 |
| FNMA, 3.00%, 6/1/51 | 1215836 | 1092728 |
| FNMA, 2.50%, 12/1/51 | 19313182 | 16528177 |
| FNMA, 2.50%, 2/1/52 | 8546117 | 7313606 |
| FNMA, 3.00%, 2/1/52 | 17598150 | 15654124 |
| FNMA, 2.00%, 3/1/52 | 27397476 | 22456389 |
| FNMA, 3.00%, 4/1/52 | 9106016 | 8097317 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| FNMA, 3.50%, 4/1/52 | $5554508 | $5107471 |
| FNMA, 4.00%, 4/1/52 | 18015097 | 17097246 |
| FNMA, 4.00%, 4/1/52 | 7886233 | 7519543 |
| FNMA, 4.00%, 4/1/52 | 5659012 | 5376388 |
| FNMA, 3.00%, 5/1/52 | 12481861 | 11177254 |
| FNMA, 3.50%, 5/1/52 | 22708660 | 20892263 |
| FNMA, 4.00%, 5/1/52 | 13605936 | 12852768 |
| FNMA, 3.50%, 6/1/52 | 22393414 | 20738950 |
| FNMA, 2.50%, 7/1/52 | 11880303 | 10064836 |
| FNMA, 4.50%, 7/1/52 | 13660937 | 13247013 |
| FNMA, 5.00%, 8/1/52 | 43953350 | 43714428 |
| FNMA, 4.50%, 9/1/52 | 8931106 | 8713356 |
| FNMA, 5.00%, 9/1/52 | 11908278 | 11886335 |
| FNMA, 5.00%, 10/1/52 | 14288893 | 14193629 |
| FNMA, 5.50%, 10/1/52 | 16938855 | 17099110 |
| FNMA, 5.00%, 1/1/53 | 18440819 | 18315983 |
| FNMA, 5.50%, 1/1/53 | 29870732 | 30183785 |
| FNMA, 5.50%, 3/1/54 | 25638322 | 25837835 |
| FNMA, 4.50%, 4/1/54 | 35282181 | 34167320 |
| GNMA, 5.00%, TBA | 12504000 | 12385671 |
| GNMA, 7.50%, 8/15/26 | 40 | 40 |
| GNMA, 6.50%, 5/15/28 | 2000 | 2060 |
| GNMA, 7.00%, 5/15/31 | 3320 | 3439 |
| GNMA, 6.00%, 7/15/33 | 178377 | 182422 |
| GNMA, 4.50%, 8/15/33 | 309643 | 307789 |
| GNMA, 6.00%, 9/20/38 | 150473 | 159527 |
| GNMA, 6.00%, 1/20/39 | 53874 | 56642 |
| GNMA, 6.00%, 2/20/39 | 55721 | 58583 |
| GNMA, 4.50%, 4/15/39 | 291327 | 287502 |
| GNMA, 4.50%, 6/15/39 | 423474 | 421812 |
| GNMA, 5.00%, 9/15/39 | 14420 | 14729 |
| GNMA, 5.00%, 10/15/39 | 209326 | 213810 |
| GNMA, 4.50%, 1/15/40 | 415950 | 413933 |
| GNMA, 4.00%, 12/15/40 | 212734 | 203218 |
| GNMA, 4.50%, 12/15/40 | 850728 | 843544 |
| GNMA, 4.50%, 6/15/41 | 163705 | 161650 |
| GNMA, 3.50%, 6/20/42 | 4131267 | 3917983 |
| GNMA, 3.00%, 5/20/50 | 7165704 | 6422296 |
| GNMA, 3.00%, 7/20/50 | 14003879 | 12544207 |
| GNMA, 3.50%, 2/20/51 | 1753738 | 1638275 |
| GNMA, 3.50%, 6/20/51 | 7250336 | 6766197 |
| GNMA, 3.00%, 7/20/51 | 11287187 | 10096120 |
| GNMA, 4.00%, 9/20/52 | 34000019 | 32189714 |
| GNMA, 4.50%, 9/20/52 | 30525957 | 29743013 |
| GNMA, 4.50%, 10/20/52 | 31937740 | 31133349 |
| GNMA, 4.00%, 4/20/54 | 51214862 | 48137576 |
| GNMA, 5.00%, 12/20/54 | 26353040 | 26229104 |
| UMBS, 5.00%, TBA | 57179000 | 56399137 |
|  |  | 1003639666 |
| **TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES**<br>(Cost $1,018,736,467) |  | **1004879576** |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 23.4%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| **Aerospace and Defense — 0.4%** | | |
| Boeing Co., 5.71%, 5/1/40 | $5685000 | $5696606 |
| Honeywell Aerospace, Inc., 4.60%, 3/16/33<sup>(1)</sup> | 1606000 | 1588044 |
| Honeywell Aerospace, Inc., 4.95%, 3/16/36<sup>(1)</sup> | 4495000 | 4461687 |
| Textron, Inc., 4.95%, 3/15/36 | 2712000 | 2637919 |
|  |  | 14384256 |
| **Air Freight and Logistics — 0.3%** |  |  |
| GXO Logistics, Inc., 6.25%, 5/6/29 | 8313000 | 8624514 |
| GXO Logistics, Inc., 6.50%, 5/6/34 | 1583000 | 1662169 |
|  |  | 10286683 |
| **Automobiles — 0.3%** |  |  |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 5185000 | 5465027 |
| Ford Motor Credit Co. LLC, 5.42%, 4/9/31 | 1615000 | 1586494 |
| Ford Motor Credit Co. LLC, 6.05%, 11/5/31 | 786000 | 789857 |
| General Motors Financial Co., Inc., 5.60%, 6/18/31 | 3310000 | 3388735 |
| General Motors Financial Co., Inc., 6.15%, 7/15/35 | 1775000 | 1836385 |
|  |  | 13066498 |
| **Banks — 3.2%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 3200000 | 2857555 |
| Bank of America Corp., VRN, 5.51%, 1/24/36 | 4130000 | 4213156 |
| Bank of America Corp., VRN, 4.33%, 3/15/50 | 3840000 | 3115499 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 8591000 | 8828584 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 13107000 | 13732729 |
| BPCE SA, VRN, 3.65%, 1/14/37<sup>(1)</sup> | 5385000 | 4826480 |
| Citigroup, Inc., VRN, 5.17%, 9/11/36 | 3550000 | 3520387 |
| Citigroup, Inc., VRN, 5.61%, 3/4/56 | 2260000 | 2172074 |
| Dresdner Funding Trust I, 8.15%, 6/30/31<sup>(1)</sup> | 5455000 | 5848438 |
| Huntington Bancshares, Inc., VRN, 4.62%, 1/28/32 | 9345000 | 9211465 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 2115000 | 1979325 |
| JPMorgan Chase & Co., VRN, 5.10%, 4/22/31 | 6595000 | 6715979 |
| JPMorgan Chase & Co., VRN, 4.35%, 1/22/32 | 3500000 | 3451346 |
| JPMorgan Chase & Co., VRN, 5.77%, 4/22/35 | 7883000 | 8213456 |
| JPMorgan Chase & Co., VRN, 4.26%, 2/22/48 | 5920000 | 4843985 |
| KeyCorp, VRN, 6.40%, 3/6/35 | 1550000 | 1644117 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 2050000 | 2044043 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 6406000 | 5834637 |
| Pinnacle Bank/Nashville TN, VRN, 5.96%, 1/15/36 | 7544000 | 7474171 |
| Sumitomo Mitsui Financial Group, Inc., VRN, 5.33%, 3/3/41 | 4255000 | 4128338 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 6043000 | 6238014 |
| Webster Financial Corp., VRN, 5.78%, 9/11/35 | 4865000 | 4942383 |
| Wells Fargo & Co., VRN, 5.61%, 4/23/36 | 5590000 | 5722423 |
| Wells Fargo & Co., VRN, 5.43%, 1/23/47 | 2745000 | 2602991 |
| Wells Fargo & Co., VRN, 5.01%, 4/4/51 | 3810000 | 3359589 |
|  |  | 127521164 |
| **Beverages — 0.2%** |  |  |
| Maple Parent Holdings Corp., 5.05%, 3/26/31<sup>(1)</sup> | 2655000 | 2644859 |
| Maple Parent Holdings Corp., 5.70%, 3/26/36<sup>(1)</sup> | 6443000 | 6404458 |
|  |  | 9049317 |
| **Biotechnology — 0.3%** |  |  |
| Amgen, Inc., 5.65%, 3/2/53 | 4545000 | 4405006 |
| BioMarin Pharmaceutical, Inc., 5.50%, 2/15/34<sup>(1)</sup> | 2265000 | 2231617 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Genmab AS/Genmab Finance LLC, 6.25%, 12/15/32<sup>(1)</sup> | $5600000 | $5745359 |
|  |  | 12381982 |
| **Broadline Retail — 0.2%** |  |  |
| Amazon.com, Inc., 4.55%, 3/13/33 | 5060000 | 5012776 |
| Amazon.com, Inc., 4.875%, 3/13/36 | 4135000 | 4098913 |
|  |  | 9111689 |
| **Capital Markets — 2.3%** |  |  |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 5968000 | 5882492 |
| Blue Owl Credit Income Corp., 7.75%, 9/16/27 | 6120000 | 6208438 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28 | 8430000 | 8336070 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 1546000 | 1554246 |
| Goldman Sachs BDC, Inc., 5.10%, 1/28/29 | 4302000 | 4180200 |
| Goldman Sachs Group, Inc., VRN, 6.48%, 10/24/29 | 6780000 | 7093871 |
| Goldman Sachs Group, Inc., VRN, 5.07%, 1/21/37 | 3030000 | 2963476 |
| Goldman Sachs Group, Inc., VRN, 5.54%, 1/21/47 | 2285000 | 2179215 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 1/28/56 | 3025000 | 2955446 |
| Goldman Sachs Private Credit Corp., 5.05%, 2/23/28<sup>(1)</sup> | 6945000 | 6842285 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 3578000 | 3662519 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 4335000 | 4276674 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 1960000 | 1946182 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 3395000 | 3309521 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 1597000 | 1595139 |
| Jefferies Financial Group, Inc., 5.50%, 2/15/36 | 3422000 | 3286429 |
| Morgan Stanley, VRN, 6.41%, 11/1/29 | 2065000 | 2155547 |
| Morgan Stanley, VRN, 6.63%, 11/1/34 | 9180000 | 9992630 |
| Morgan Stanley, VRN, 5.83%, 4/19/35 | 1860000 | 1931648 |
| Morgan Stanley, VRN, 4.89%, 10/22/36 | 2005000 | 1939022 |
| Morgan Stanley, VRN, 5.52%, 11/19/55 | 1595000 | 1515507 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 8246000 | 8133504 |
|  |  | 91940061 |
| **Construction Materials — 0.1%** |  |  |
| Eagle Materials, Inc., 5.00%, 3/15/36 | 4187000 | 4011146 |
| **Consumer Finance — 0.8%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 8003000 | 8888056 |
| Avolon Holdings Funding Ltd., 4.85%, 4/1/33<sup>(1)</sup> | 4667000 | 4473132 |
| Capital One Financial Corp., VRN, 4.72%, 1/30/32 | 5370000 | 5290047 |
| Capital One Financial Corp., VRN, 2.36%, 7/29/32 | 5075000 | 4376888 |
| Capital One Financial Corp., VRN, 5.40%, 1/30/37 | 4126000 | 4044757 |
| Takeoff Merger Sub, Inc., 4.85%, 3/24/31<sup>(1)</sup> | 5820000 | 5749467 |
|  |  | 32822347 |
| **Containers and Packaging — 0.1%** |  |  |
| Amcor Flexibles North America, Inc., 5.125%, 3/12/36 | 4577000 | 4451926 |
| **Diversified Consumer Services — 0.2%** |  |  |
| Duke University, 3.30%, 10/1/46 | 2670000 | 1919243 |
| Leland Stanford Junior University, 4.68%, 3/1/35 | 240000 | 239594 |
| Massachusetts Institute of Technology, 5.62%, 6/1/55 | 835000 | 847168 |
| Novant Health, Inc., 3.17%, 11/1/51 | 1500000 | 985003 |
| Pepperdine University, 3.30%, 12/1/59 | 5228000 | 3318860 |
|  |  | 7309868 |
| **Diversified REITs — 0.9%** |  |  |
| Equinix Europe 2 Financing Corp. LLC, 4.70%, 3/15/33 | 5030000 | 4894116 |
| GLP Capital LP/GLP Financing II, Inc., 5.625%, 3/1/36 | 2135000 | 2078472 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Kilroy Realty LP, 3.05%, 2/15/30 | $1720000 | $1568729 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 2315000 | 1886170 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 8138000 | 8528762 |
| Prologis Targeted U.S. Logistics Fund LP, 4.625%, 3/15/33<sup>(1)</sup> | 8360000 | 8133335 |
| Vornado Realty LP, 5.75%, 2/1/33 | 6505000 | 6382855 |
|  |  | 33472439 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Verizon Communications, Inc., 5.875%, 11/30/55 | 1396000 | 1358843 |
| **Electric Utilities — 1.3%** |  |  |
| Arizona Public Service Co., 5.70%, 8/15/34 | 2797000 | 2900314 |
| Commonwealth Edison Co., 5.95%, 6/1/55 | 4722000 | 4789479 |
| DTE Electric Co., 5.55%, 3/1/56 | 1558000 | 1507560 |
| Duke Energy Florida LLC, 4.85%, 12/1/35 | 2005000 | 1968846 |
| Duke Energy Florida LLC, 5.95%, 11/15/52 | 2765000 | 2810435 |
| Duke Energy Progress LLC, 5.35%, 3/15/53 | 1475000 | 1382698 |
| Electricite de France SA, 6.95%, 1/26/39<sup>(1)</sup> | 7703000 | 8592076 |
| Emera U.S. Finance LLC, 5.20%, 4/1/33 | 1533000 | 1525049 |
| Entergy Louisiana LLC, 4.90%, 4/15/36 | 1377000 | 1343845 |
| ITC Holdings Corp., 5.50%, 4/15/36<sup>(1)(2)</sup> | 1533000 | 1538111 |
| Kentucky Utilities Co., 5.85%, 8/15/55 | 3086000 | 3070748 |
| Louisville Gas & Electric Co., 5.85%, 8/15/55 | 901000 | 894883 |
| MidAmerican Energy Co., 5.85%, 9/15/54 | 12182000 | 12239072 |
| Niagara Mohawk Power Corp., 4.65%, 10/3/30<sup>(1)</sup> | 235000 | 234167 |
| Sierra Pacific Power Co., VRN, 6.375%, 9/15/56 | 2648000 | 2627155 |
| Southern Co. Gas Capital Corp., 5.10%, 9/15/35 | 3965000 | 3915234 |
|  |  | 51339672 |
| **Entertainment — 0.2%** |  |  |
| Beignet Investor LLC, 6.58%, 5/30/49<sup>(1)</sup> | 1526000 | 1570148 |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 | 4704000 | 4646376 |
|  |  | 6216524 |
| **Financial Services — 1.0%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 11010000 | 10904138 |
| Atlas Warehouse Lending Co. LP, 6.25%, 1/15/30<sup>(1)</sup> | 12068000 | 12416414 |
| Atlas Warehouse Lending Co. LP, 4.95%, 11/15/30<sup>(1)</sup> | 2855000 | 2803502 |
| Atlas Warehouse Lending Co. LP, 5.25%, 1/15/33<sup>(1)</sup> | 4135000 | 4006889 |
| Corebridge Financial, Inc., VRN, 6.375%, 9/15/54 | 3202000 | 3148662 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 5326000 | 5259058 |
|  |  | 38538663 |
| **Food Products — 0.2%** |  |  |
| Flowers Foods, Inc., 5.75%, 3/15/35 | 1595000 | 1524708 |
| Mars, Inc., 5.65%, 5/1/45<sup>(1)</sup> | 3160000 | 3122352 |
| Mars, Inc., 5.70%, 5/1/55<sup>(1)</sup> | 1997000 | 1948578 |
|  |  | 6595638 |
| **Gas Utilities — 0.0%** |  |  |
| Snam SpA, 6.50%, 5/28/55<sup>(1)</sup> | 1935000 | 1994836 |
| **Ground Transportation — 0.3%** |  |  |
| Ashtead Capital, Inc., 5.95%, 10/15/33<sup>(1)</sup> | 4316000 | 4449958 |
| Fedex Freight Holding Co., Inc., 5.25%, 3/15/36<sup>(1)</sup> | 6031000 | 5837195 |
| United Rentals North America, Inc., 6.00%, 12/15/29<sup>(1)</sup> | 620000 | 630761 |
|  |  | 10917914 |
| **Health Care Equipment and Supplies — 0.6%** |  |  |
| Abbott Laboratories, 4.65%, 3/15/36 | 5783000 | 5657179 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Abbott Laboratories, 5.50%, 3/15/56 | $4515000 | $4430282 |
| Baxter International, Inc., 4.90%, 12/15/30 | 3525000 | 3480660 |
| Baxter International, Inc., 5.65%, 12/15/35 | 2291000 | 2238573 |
| Hologic, Inc., 3.25%, 2/15/29<sup>(1)</sup> | 2005000 | 2002769 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 4375000 | 4463519 |
|  |  | 22272982 |
| **Health Care Providers and Services — 1.0%** |  |  |
| Centene Corp., 4.625%, 12/15/29 | 2010000 | 1909375 |
| CVS Health Corp., 5.45%, 9/15/35 | 1569000 | 1575666 |
| CVS Health Corp., 6.00%, 6/1/44 | 4470000 | 4403925 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 3160000 | 3258807 |
| Duke University Health System, Inc., 3.92%, 6/1/47 | 2502000 | 1974046 |
| HCA, Inc., 4.90%, 11/15/35 | 6321000 | 6113674 |
| HCA, Inc., 6.20%, 3/1/55 | 1463000 | 1450565 |
| Icon Investments Six DAC, 5.81%, 5/8/27 | 5000 | 5027 |
| IQVIA, Inc., 6.25%, 2/1/29 | 3531000 | 3671926 |
| Kaiser Foundation Hospitals, 3.00%, 6/1/51 | 3170000 | 2035648 |
| UnitedHealth Group, Inc., 5.30%, 6/15/35 | 1848000 | 1886115 |
| UnitedHealth Group, Inc., 5.50%, 7/15/44 | 4549000 | 4392918 |
| UnitedHealth Group, Inc., 5.05%, 4/15/53 | 5750000 | 5063177 |
|  |  | 37740869 |
| **Hotels, Restaurants and Leisure — 0.5%** |  |  |
| Airbnb, Inc., 4.65%, 3/16/31 | 2490000 | 2485435 |
| Airbnb, Inc., 5.25%, 3/16/36 | 2815000 | 2818955 |
| Carnival Corp., 4.00%, 8/1/28<sup>(1)</sup> | 6026000 | 5886726 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)</sup> | 2819000 | 2799849 |
| Marriott International, Inc., 5.10%, 5/1/38 | 2620000 | 2491909 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 1959000 | 1979054 |
|  |  | 18461928 |
| **Industrial Conglomerates — 0.1%** |  |  |
| Eaton Corp., 4.20%, 3/6/31 | 3015000 | 2972470 |
| Eaton Corp., 4.80%, 3/6/36 | 2310000 | 2281536 |
|  |  | 5254006 |
| **Insurance — 1.2%** |  |  |
| Allianz SE, VRN, 6.35%, 9/6/53<sup>(1)</sup> | 5800000 | 6041181 |
| Athene Global Funding, 5.53%, 7/11/31<sup>(1)</sup> | 2647000 | 2649694 |
| CNA Financial Corp., 5.20%, 8/15/35 | 5576000 | 5459707 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 10245000 | 10010421 |
| Lincoln National Corp., 7.00%, 6/15/40 | 2626000 | 2849669 |
| Loews Corp., 4.94%, 4/1/36 | 3740000 | 3662500 |
| MetLife, Inc., 6.40%, 12/15/66 | 10397000 | 10619475 |
| MetLife, Inc., 10.75%, 8/1/69 | 4015000 | 5205564 |
|  |  | 46498211 |
| **Interactive Media and Services — 1.0%** |  |  |
| Alphabet, Inc., 4.40%, 2/15/33 | 7320000 | 7230951 |
| Alphabet, Inc., 4.80%, 2/15/36 | 5065000 | 5045267 |
| Alphabet, Inc., 5.65%, 2/15/56 | 4555000 | 4543603 |
| Meta Platforms, Inc., 4.60%, 11/15/32 | 6825000 | 6760350 |
| Meta Platforms, Inc., 4.875%, 11/15/35 | 4620000 | 4534250 |
| Meta Platforms, Inc., 5.50%, 11/15/45 | 2325000 | 2201674 |
| Meta Platforms, Inc., 5.625%, 11/15/55 | 6440000 | 6041106 |
| Meta Platforms, Inc., 5.75%, 11/15/65 | 3530000 | 3281252 |
|  |  | 39638453 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| **IT Services — 0.1%** | | |
| International Business Machines Corp., 5.80%, 2/3/56 | $3360000 | $3214694 |
| **Machinery — 0.2%** |  |  |
| Allison Transmission, Inc., 5.875%, 12/1/33<sup>(1)</sup> | 4770000 | 4743357 |
| Weir Group, Inc., 5.35%, 5/6/30<sup>(1)</sup> | 3217000 | 3261748 |
|  |  | 8005105 |
| **Media — 0.3%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30<sup>(1)</sup> | 4464000 | 4238587 |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 2529000 | 2508639 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 2155000 | 2041733 |
| Omnicom Group, Inc., 5.00%, 6/2/33 | 3454000 | 3374820 |
|  |  | 12163779 |
| **Metals and Mining — 0.2%** |  |  |
| Glencore Funding LLC, 4.90%, 7/1/31<sup>(1)(2)</sup> | 2415000 | 2414806 |
| Glencore Funding LLC, 5.51%, 4/1/36<sup>(1)(2)</sup> | 5030000 | 5043192 |
| Rio Tinto Finance USA PLC, 5.75%, 3/14/55 | 2035000 | 2031674 |
|  |  | 9489672 |
| **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> | 8180000 | 7933228 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 6260000 | 6475350 |
|  |  | 14408578 |
| **Multi-Utilities — 0.3%** |  |  |
| Sempra, 3.25%, 6/15/27 | 1508000 | 1487188 |
| Sempra, VRN, 4.125%, 4/1/52 | 9194000 | 8951229 |
|  |  | 10438417 |
| **Oil, Gas and Consumable Fuels — 1.9%** |  |  |
| Antero Resources Corp., 5.40%, 2/1/36 | 4379000 | 4309185 |
| Cenovus Energy, Inc., 5.40%, 3/20/36 | 2583000 | 2571061 |
| Cheniere Energy, Inc., 5.20%, 7/30/36<sup>(1)</sup> | 2044000 | 2023919 |
| Cheniere Energy, Inc., 6.00%, 7/30/56<sup>(1)</sup> | 2807000 | 2798990 |
| Columbia Pipelines Holding Co. LLC, 5.00%, 11/17/32<sup>(1)</sup> | 4001000 | 3976223 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 10230000 | 10239473 |
| Energy Transfer LP, 6.125%, 12/15/45 | 3610000 | 3530859 |
| Energy Transfer LP, 5.95%, 5/15/54 | 4150000 | 3894907 |
| Expand Energy Corp., 5.375%, 3/15/30 | 5830000 | 5881126 |
| Occidental Petroleum Corp., 6.20%, 3/15/40 | 2150000 | 2197427 |
| Occidental Petroleum Corp., 4.20%, 3/15/48 | 2125000 | 1598796 |
| Ovintiv, Inc., 7.10%, 7/15/53 | 3785000 | 4108666 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 11639000 | 11136754 |
| Plains All American Pipeline LP/PAA Finance Corp., 5.60%, 1/15/36 | 2699000 | 2708876 |
| Shell Finance U.S., Inc., 4.375%, 5/11/45 | 750000 | 638256 |
| SM Energy Co., 6.75%, 9/15/26 | 3630000 | 3634211 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 1805000 | 1786343 |
| Valero Energy Corp., 5.15%, 3/10/36 | 4167000 | 4109290 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 3435000 | 3640420 |
|  |  | 74784782 |
| **Passenger Airlines — 0.1%** |  |  |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 2865000 | 2812797 |
| **Personal Care Products — 0.1%** |  |  |
| Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 5.60%, 1/15/31<sup>(1)</sup> | 4925000 | 4770555 |
| **Pharmaceuticals — 0.3%** |  |  |
| Bristol-Myers Squibb Co., 5.55%, 2/22/54 | 3865000 | 3724210 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Merck & Co., Inc., 5.70%, 9/15/55 | $2617000 | $2600758 |
| Novartis Capital Corp., 4.60%, 3/18/33 | 3170000 | 3157460 |
| Novartis Capital Corp., 5.70%, 3/18/56 | 1585000 | 1597445 |
|  |  | 11079873 |
| **Semiconductors and Semiconductor Equipment — 0.8%** |  |  |
| Foundry JV Holdco LLC, 6.25%, 1/25/35<sup>(1)</sup> | 5160000 | 5409879 |
| Foundry JV Holdco LLC, 6.10%, 1/25/36<sup>(1)</sup> | 2972000 | 3064845 |
| Foundry JV Holdco LLC, 6.30%, 1/25/39<sup>(1)</sup> | 6037000 | 6296357 |
| Intel Corp., 5.15%, 2/21/34 | 3470000 | 3461761 |
| Intel Corp., 4.90%, 8/5/52 | 1900000 | 1553421 |
| Micron Technology, Inc., 5.30%, 1/15/31 | 10960000 | 11475754 |
|  |  | 31262017 |
| **Software — 1.4%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 478000 | 480883 |
| AppLovin Corp., 5.375%, 12/1/31 | 4176000 | 4218486 |
| AppLovin Corp., 5.50%, 12/1/34 | 4015000 | 3983361 |
| Oracle Corp., 4.80%, 9/26/32 | 9147000 | 8713843 |
| Oracle Corp., 5.35%, 5/4/33 | 5035000 | 4903263 |
| Oracle Corp., 5.20%, 9/26/35 | 5080000 | 4767576 |
| Oracle Corp., 5.70%, 2/4/36 | 2334000 | 2245125 |
| Salesforce, Inc., 4.90%, 9/15/31 | 6110000 | 6102792 |
| Salesforce, Inc., 5.20%, 3/15/33 | 4490000 | 4483626 |
| Salesforce, Inc., 6.55%, 3/15/56 | 3275000 | 3288564 |
| Synopsys, Inc., 5.00%, 4/1/32 | 8306000 | 8380865 |
| Workday, Inc., 3.80%, 4/1/32 | 4615000 | 4285823 |
|  |  | 55854207 |
| **Specialized REITs — 0.0%** |  |  |
| EPR Properties, 4.95%, 4/15/28 | 1004000 | 1002853 |
| **Specialty Retail — 0.3%** |  |  |
| Lowe's Cos., Inc., 4.50%, 10/15/32 | 4365000 | 4291420 |
| Lowe's Cos., Inc., 4.85%, 10/15/35 | 6970000 | 6790179 |
| O'Reilly Automotive, Inc., 5.10%, 3/12/36 | 2185000 | 2157230 |
|  |  | 13238829 |
| **Technology Hardware, Storage and Peripherals — 0.1%** |  |  |
| Dell International LLC/EMC Corp., 5.30%, 4/1/32 | 2082000 | 2115114 |
| **Textiles, Apparel and Luxury Goods — 0.2%** |  |  |
| Gildan Activewear, Inc., 4.70%, 10/7/30<sup>(1)</sup> | 3105000 | 3073335 |
| Gildan Activewear, Inc., 5.40%, 10/7/35<sup>(1)</sup> | 4765000 | 4650267 |
|  |  | 7723602 |
| **TOTAL CORPORATE BONDS**<br>(Cost $929,563,961) |  | **919002789** |
| **U.S. TREASURY SECURITIES — 15.4%** |  |  |
| U.S. Treasury Notes, 3.375%, 2/29/28<sup>(3)</sup> | 42000000 | 41671875 |
| U.S. Treasury Notes, 3.875%, 3/31/28 | 31100000 | 31147379 |
| U.S. Treasury Notes, 3.875%, 6/15/28<sup>(3)</sup> | 8000000 | 8011875 |
| U.S. Treasury Notes, 3.50%, 3/15/29 | 33300000 | 33007324 |
| U.S. Treasury Notes, 4.125%, 3/31/29<sup>(3)</sup> | 11000000 | 11093242 |
| U.S. Treasury Notes, 4.375%, 12/31/29 | 22000000 | 22375117 |
| U.S. Treasury Notes, 3.625%, 8/31/30 | 20000000 | 19756641 |
| U.S. Treasury Notes, 4.125%, 8/31/30 | 20000000 | 20157031 |
| U.S. Treasury Notes, 3.50%, 11/30/30 | 56500000 | 55464903 |
| U.S. Treasury Notes, 4.375%, 11/30/30 | 106000000 | 107933672 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| U.S. Treasury Notes, 3.50%, 2/28/31 | $45000000 | $44129883 |
| U.S. Treasury Notes, 4.25%, 2/28/31 | 51000000 | 51668379 |
| U.S. Treasury Notes, 4.125%, 10/31/31 | 20500000 | 20610107 |
| U.S. Treasury Notes, 3.875%, 8/31/32 | 12500000 | 12344971 |
| U.S. Treasury Notes, 4.125%, 11/15/32 | 30000000 | 30016406 |
| U.S. Treasury Notes, 3.75%, 11/30/32 | 58000000 | 56773164 |
| U.S. Treasury Notes, 4.00%, 1/31/33 | 24800000 | 24614000 |
| U.S. Treasury Notes, 3.75%, 2/28/33 | 6500000 | 6352227 |
| U.S. Treasury Notes, 3.875%, 8/15/33 | 6500000 | 6382061 |
| **TOTAL U.S. TREASURY SECURITIES**<br>(Cost $605,224,538) |  | **603510257** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 12.5%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 12.0%** |  |  |
| Barclays Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 12/25/65<sup>(1)</sup> | 21140123 | 20874512 |
| BRAVO Residential Funding Trust, Series 2024-RPL1, Class A1, SEQ, VRN, 3.25%, 10/25/63<sup>(1)</sup> | 15585381 | 14472461 |
| Chase Home Lending Mortgage Trust, Series 2024-10, Class A4, VRN, 6.00%, 10/25/55<sup>(1)</sup> | 7787913 | 7823940 |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 4629721 | 4650357 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 2764009 | 2760583 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 7128421 | 7138106 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 1276015 | 1273896 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(1)</sup> | 12808242 | 12810903 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, SEQ, VRN, 6.00%, 6/25/56<sup>(1)</sup> | 17321211 | 17421352 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, SEQ, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 20872710 | 20903693 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 9906 | 9736 |
| Citigroup Mortgage Loan Trust, Series 2025-3, Class A11, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 8032194 | 8039337 |
| Citigroup Mortgage Loan Trust, Inc., Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 10165920 | 10218706 |
| Credit Suisse Mortgage Trust, Series 2020-AFC1, Class A3, VRN, 3.51%, 2/25/50<sup>(1)</sup> | 754778 | 722503 |
| Ellington Financial Mortgage Trust, Series 2024-NQM1, Class A1B, 5.81%, 11/25/69<sup>(1)</sup> | 6103321 | 6146740 |
| GCAT Trust, Series 2024-INV2, Class A6, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 5316319 | 5339429 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, SEQ, VRN, 6.00%, 1/25/54<sup>(1)</sup> | 4853145 | 4877046 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A15, SEQ, VRN, 6.00%, 4/25/54<sup>(1)</sup> | 4340345 | 4357846 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ1, Class A15, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 6911405 | 6927262 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, SEQ, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 13335124 | 13350217 |
| HOMES Trust, Series 2025-AFC3, Class A1, VRN, 4.93%, 8/25/60<sup>(1)</sup> | 11309232 | 11278272 |
| JP Morgan Mortgage Trust, Series 2020-3, Class A15, VRN, 3.50%, 8/25/50<sup>(1)</sup> | 1598758 | 1439442 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> | 12522836 | 12544583 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A2, VRN, 6.00%, 2/25/54<sup>(1)</sup> | 3682727 | 3710808 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 8553060 | 8567837 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 4569977 | 4570643 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 3780471 | 3779446 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 8788139 | 8826112 |
| JP Morgan Mortgage Trust, Series 2025-2, Class A4, VRN, 6.00%, 7/25/55<sup>(1)</sup> | 11235180 | 11283611 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A1, VRN, 4.89%, 4/25/66<sup>(1)</sup> | 20421533 | 20319492 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A1, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 8466281 | 8530837 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A3, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 6017928 | 6048484 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.73%, 1/26/71<sup>(1)</sup> | 11551173 | 11448684 |
| OBX Trust, Series 2024-HYB2, Class A1, SEQ, VRN, 3.70%, 4/25/53<sup>(1)</sup> | 5396196 | 5375089 |
| OBX Trust, Series 2025-J1, Class A4, SEQ, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 6097094 | 6129173 |
| OBX Trust, Series 2025-NQM21, Class A1B, 4.99%, 10/25/65<sup>(1)</sup> | 3225970 | 3209330 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 20093413 | 20099670 |
| PRKCM Trust, Series 2026-AFC1, Class A1, VRN, 4.68%, 2/25/61<sup>(1)</sup> | 16145441 | 15987780 |
| Provident Funding Mortgage Trust, Series 2025-1, Class A3, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 18700354 | 18726609 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount/Shares** | **Value** |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | $13341393 | $13359927 |
| Provident Funding Mortgage Trust, Series 2025-4, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 9164364 | 9180618 |
| Radian Mortgage Capital Trust, Series 2025-J3, Class A15, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 6500278 | 6508736 |
| Rate Mortgage Trust, Series 2024-J1, Class A7, SEQ, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 850633 | 848840 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 1851324 | 1851070 |
| Rate Mortgage Trust, Series 2025-J1, Class A5, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 4076379 | 4096303 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 1/25/66<sup>(1)</sup> | 12123111 | 11999453 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM3, Class A1, VRN, 5.18%, 3/25/66<sup>(1)</sup> | 12228357 | 12210567 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 2122996 | 2122022 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 4511064 | 4518527 |
| Sequoia Mortgage Trust, Series 2024-6, Class A11, SEQ, VRN, 6.00%, 7/27/54<sup>(1)</sup> | 4979175 | 4982297 |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 3120289 | 3124511 |
| Sequoia Mortgage Trust, Series 2025-7, Class A5, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 16250726 | 16272491 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 11725619 | 11742314 |
| SoFi Mortgage Trust, Series 2016-1A, Class 1A4, SEQ, VRN, 3.00%, 11/25/46<sup>(1)</sup> | 843776 | 760251 |
| Towd Point Mortgage Trust, Series 2024-1, Class A1, SEQ, VRN, 4.90%, 3/25/64<sup>(1)</sup> | 14637056 | 14887080 |
| Verus Securitization Trust, Series 2021-R2, Class A3, VRN, 1.23%, 2/25/64<sup>(1)</sup> | 1297137 | 1238793 |
|  |  | 471698327 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.5%** |  |  |
| FHLMC, Series 3397, Class GF, VRN, 4.29%, (30-day average SOFR plus 0.61%), 12/15/37 | 528165 | 526390 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 125367045 | 15776891 |
| GNMA, Series 2007-5, Class FA, VRN, 3.93%, (1-month SOFR plus 0.25%), 2/20/37 | 482922 | 482772 |
|  |  | 16786053 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br>(Cost $485,594,857) |  | **488484380** |
| **ASSET-BACKED SECURITIES — 9.8%** |  |  |
| Barclays Mortgage Loan Trust, Series 2026-CES1, Class A1A, 4.85%, 1/25/56<sup>(1)</sup> | 19441759 | 19266473 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class A, SEQ, 2.44%, 7/15/46<sup>(1)</sup> | 7953652 | 7548511 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> | 11800000 | 11484273 |
| DI Issuer LLC, Series 2021-1A, Class A2, SEQ, 3.72%, 9/15/51<sup>(1)</sup> | 28969852 | 27702505 |
| FIP Master Funding LLC, Series 2026-1A, Class A1, SEQ, 4.90%, 3/15/56<sup>(1)</sup> | 14863000 | 14861913 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(1)</sup> | 11086000 | 11035152 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> | 7857808 | 6294229 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A1A, 4.91%, 6/25/56<sup>(1)</sup> | 22658220 | 22493889 |
| M&T Bank RV Trust, Series 2026-1A, Class A, SEQ, 4.35%, 1/15/46<sup>(1)</sup> | 24000116 | 23775014 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> | 15912325 | 15225628 |
| MP LLC, Series 2025-1A, Class A, SEQ, 5.55%, 11/15/65<sup>(1)</sup> | 15601965 | 15502335 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 22715000 | 14637101 |
| Purchasing Power Funding LLC, Series 2026-A, Class A, SEQ, 4.37%, 8/15/30<sup>(1)</sup> | 15112000 | 15034489 |
| RCKT Mortgage Trust, Series 2024-CES2, Class A1A, VRN, 6.14%, 4/25/44<sup>(1)</sup> | 4424518 | 4454515 |
| RCKT Mortgage Trust, Series 2024-CES6, Class A1A, 5.34%, 9/25/44<sup>(1)</sup> | 3518458 | 3523362 |
| RCKT Mortgage Trust, Series 2026-CES2, Class A1A, 4.76%, 2/25/56<sup>(1)</sup> | 18674977 | 18483874 |
| RCKT Mortgage Trust, Series 2026-CES3, Class A1A, 5.14%, 3/25/56<sup>(1)</sup> | 17125000 | 17072037 |
| RKTL Trust, Series 2026-1A, Class A, SEQ, 4.07%, 2/26/35<sup>(1)</sup> | 12663076 | 12651695 |
| RNL PH Owner LLC, Series 2026-1A, Class A, SEQ, 4.91%, 3/20/56<sup>(1)</sup> | 8213490 | 8096541 |
| Santander Mortgage Asset Receivable Trust, Series 2025-CES1, Class A1A, 5.04%, 9/25/55<sup>(1)</sup> | 15518712 | 15459629 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A, SEQ, 4.88%, 1/25/56<sup>(1)</sup> | 16774075 | 16658634 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class B, 5.56%, 4/20/32<sup>(1)</sup> | 5425000 | 5580792 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class C, 5.82%, 9/20/32<sup>(1)</sup> | 3150000 | 3253446 |
| Stack Infrastructure Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.00%, 3/27/56<sup>(1)</sup> | 14950741 | 14416544 |
| Subway Funding LLC, Series 2024-1A, Class A2I, SEQ, 6.03%, 7/30/54<sup>(1)</sup> | 8621863 | 8683736 |
| SVC ABS LLC, Series 2026-1A, Class A, SEQ, 5.16%, 3/20/56<sup>(1)</sup> | 9818098 | 9817920 |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal**<br>**Amount/Shares** | **Value** |
| Switch ABS Issuer LLC, Series 2024-2A, Class A2, SEQ, 5.44%, 6/25/54<sup>(1)</sup> |  | $9075000 | $8910611 |
| Trackside Rail LLC, Series 2026-1A, Class A, SEQ, 4.89%, 3/20/56<sup>(1)</sup> |  | 15566000 | 15405244 |
| Vertical Bridge CC LLC, Series 2025-1A, Class A, SEQ, 5.16%, 8/16/55<sup>(1)</sup> |  | 16729221 | 16673488 |
| **TOTAL ASSET-BACKED SECURITIES**<br>(Cost $393,412,403) |  |  | **384003580** |
| **CONVERTIBLE PREFERRED SECURITIES — 3.9%** |  |  |  |
| **Banks — 3.7%** |  |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% |  | 5000000 | 4992001 |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% |  | 2537000 | 2742855 |
| Banco Santander SA, 4.75% |  | 4200000 | 4156510 |
| Banco Santander SA, 9.625% |  | 4400000 | 4741839 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> |  | 12936000 | 13487035 |
| Credit Agricole SA, VRN, 4.75%<sup>(1)</sup> |  | 3198000 | 3046768 |
| HSBC Holdings PLC, 6.50% |  | 8387000 | 8384720 |
| HSBC Holdings PLC, 6.875% |  | 2160000 | 2175980 |
| HSBC Holdings PLC, VRN, 6.75% |  | 3562000 | 3524958 |
| ING Groep NV, 4.875% |  | 11480000 | 10828143 |
| ING Groep NV, 7.50% |  | 12706000 | 12999817 |
| Lloyds Banking Group PLC, 8.00% |  | 10678000 | 11217773 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> |  | 11704000 | 11784758 |
| Skandinaviska Enskilda Banken AB, 6.875% |  | 12600000 | 12679398 |
| Societe Generale SA, 6.75%<sup>(1)</sup> |  | 2220000 | 2212878 |
| Societe Generale SA, 9.375%<sup>(1)</sup> |  | 7650000 | 8002887 |
| Societe Generale SA, 10.00%<sup>(1)</sup> |  | 1860000 | 2010019 |
| Svenska Handelsbanken AB, 4.375% |  | 12800000 | 12590064 |
| Swedbank AB, 7.625% |  | 14600000 | 15020432 |
|  |  |  | 146598835 |
| **Capital Markets — 0.2%** |  |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> |  | 6415000 | 6841310 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES**<br>(Cost $154,821,527) |  |  | **153440145** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 2.4%** |  |  |  |
| **Mexico — 0.3%** |  |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> |  | $13401000 | 13488106 |
| **New Zealand — 1.5%** |  |  |  |
| New Zealand Government Bonds, 4.50%, 5/15/35 | NZD | 51970000 | 29594614 |
| New Zealand Government Bonds, 4.25%, 5/15/36 | NZD | 53400000 | 29557126 |
|  |  |  | 59151740 |
| **Romania — 0.3%** |  |  |  |
| Romania Government International Bonds, 5.75%, 7/4/36<sup>(1)</sup> |  | $11000000 | 10228432 |
| **Saudi Arabia — 0.3%** |  |  |  |
| Saudi Government International Bonds, 4.875%, 1/12/36<sup>(1)</sup> |  | 11250000 | 10978499 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES**<br>(Cost $95,972,440) |  |  | **93846777** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.1%** |  |  |  |
| ARZ Trust, Series 2024-BILT, Class A, SEQ, 5.77%, 6/11/39<sup>(1)</sup> |  | 8788000 | 8900937 |
| Bank5 Trust, Series 2024-5YR6, Class A3, SEQ, 6.23%, 5/15/57 |  | 11969000 | 12457668 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class A3, SEQ, 6.01%, 7/15/57 |  | 5852000 | 6074425 |
| DBSG Mortgage Trust, Series 2024-ALTA, Class A, SEQ, VRN, 5.95%, 6/10/37<sup>(1)</sup> |  | 9714000 | 9808910 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class A, SEQ, 7.07%, 11/10/39<sup>(1)</sup> |  | 13050000 | 13178615 |
| MIRA Trust, Series 2023-MILE, Class A, SEQ, 6.75%, 6/10/38<sup>(1)</sup> |  | 13305000 | 13668836 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, VRN, 5.12%, (1-month SOFR plus 1.44%), 2/15/42<sup>(1)</sup> |  | 18520000 | 18317158 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES**<br>(Cost $82,126,612) |  |  | **82406549** |

---

------

Schedule of Investments - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
|<br>**MUNICIPAL SECURITIES — 1.2%** | **Principal**<br>**Amount/Shares**<br> | **Value** |
| California State University Rev., 2.98%, 11/1/51 | $4000000 | $2622396 |
| Foothill-Eastern Transportation Corridor Agency Rev., 4.09%, 1/15/49 | 6048000 | 4911854 |
| Golden State Tobacco Securitization Corp. Rev., 2.75%, 6/1/34 | 7005000 | 6203511 |
| Houston GO, 3.96%, 3/1/47 | 2500000 | 2113643 |
| Los Angeles Community College District GO, 6.75%, 8/1/49 | 2400000 | 2675241 |
| Los Angeles Department of Airports Rev., 6.58%, 5/15/39 | 1225000 | 1312065 |
| Michigan Strategic Fund Rev., (Flint Water Advocacy Fund), 3.23%, 9/1/47 | 5000000 | 3796060 |
| Missouri Highway & Transportation Commission Rev., 5.45%, 5/1/33 | 100000 | 102798 |
| New Jersey Turnpike Authority Rev., 7.10%, 1/1/41 | 970000 | 1120093 |
| New York City GO, 6.27%, 12/1/37 | 335000 | 355051 |
| Ohio Turnpike & Infrastructure Commission Rev., 3.22%, 2/15/48 | 4000000 | 2941919 |
| Port Authority of New York & New Jersey Rev., 4.93%, 10/1/51 | 2300000 | 2141791 |
| Regents of the University of California Medical Center Pooled Rev., 3.26%, 5/15/60 | 4120000 | 2620082 |
| State of California GO, 7.60%, 11/1/40 | 455000 | 546333 |
| Sumter Landing Community Development District Rev., 5.57%, 10/1/40 (AG) | 885000 | 906219 |
| Sumter Landing Community Development District Rev., 5.74%, 10/1/45 (AG) | 1330000 | 1342763 |
| Sumter Landing Community Development District Rev., 5.82%, 10/1/54 (AG) | 2410000 | 2441564 |
| Texas Natural Gas Securitization Finance Corp. Rev., SEQ, 5.17%, 4/1/41 | 3865000 | 3918160 |
| United Nations Development Corp. Rev., (City of New York), Series A, 6.54%, 8/1/55 | 840000 | 887201 |
| University of California Rev., 3.07%, 5/15/51 | 3480000 | 2327767 |
| University of California College of the Law San Francisco Rev., 5.99%, 8/1/50 (BAM) | 835000 | 838908 |
| University of California College of the Law San Francisco Rev., 6.09%, 8/1/55 (BAM) | 955000 | 963264 |
| **TOTAL MUNICIPAL SECURITIES**<br>(Cost $56,472,612) |  | **47088683** |
| **PREFERRED SECURITIES — 1.1%** |  |  |
| **Banks — 0.5%** |  |  |
| Citigroup, Inc., 7.625% | 18914000 | 19570486 |
| **Capital Markets — 0.4%** |  |  |
| Charles Schwab Corp., 4.00% | 17579000 | 17470837 |
| **Multi-Utilities — 0.2%** |  |  |
| Dominion Energy, Inc., 4.35% | 5989000 | 5899314 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $42,924,288) |  | **42940637** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.4%** |  |  |
| MF1 Ltd., Series 2021-FL7, Class AS, VRN, 5.24%, (1-month SOFR plus 1.56%), 10/16/36<sup>(1)</sup><br>(Cost $17,817,000) | $17817000 | 17797522 |
| **SHORT-TERM INVESTMENTS — 4.4%** |  |  |
| **Commercial Paper**<sup>(4)</sup> **— 2.7%** |  |  |
| Regatta Funding Co. LLC, 3.77%, 4/1/26<sup>(1)</sup> | 88350000 | 88340891 |
| St. Lawrence Funding LLC, 3.76%, 4/1/26<sup>(1)</sup> | 17750000 | 17748184 |
|  |  | 106089075 |
| **Money Market Funds — 0.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 538751 | 538751 |
| **Repurchase Agreements — 1.7%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.25%, 4/30/28, valued at $66,001,215), at 3.66%, dated 3/31/26, due 4/1/26 (Delivery value $64,713,579) |  | 64707000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $171,345,751) |  | **171334826** |
| **TOTAL INVESTMENT SECURITIES — 102.2%**<br>(Cost $4,054,012,456) |  | **4008735721** |
| **OTHER ASSETS AND LIABILITIES — (2.2)%** |  | **(86385472)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**3922350249** |

---

------

Schedule of Investments - Diversified 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** | **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 | 9903132 | NZD | 16975672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | $121991 |
| USD | 9904834 | NZD | 16973643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | 124862 |
| USD | 21936699 | NZD | 37587041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley & Co. LLC | 6/17/26 | 279582 |
| USD | 19411128 | NZD | 32915615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UBS AG | 6/17/26 | 445620 |
|  |  |  |  |  |  | $972055 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 1761 | June 2026 | $365311194 | $609293 |
| U.S. Treasury 5-Year Notes | 178 | June 2026 | 19255985 | (3128) |
| U.S. Treasury 10-Year Notes | 59 | June 2026 | 6551766 | (115) |
| U.S. Treasury Long Bonds | 1284 | June 2026 | 146215500 | (2944177) |
| U.S. Treasury Ultra Bonds | 1932 | June 2026 | 225198750 | (7260254) |
|  |  |  | $762533195 | $(9598381) |

---

^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 | 402 | June 2026 | $45633281 | $(236298) |

---

^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**<sup>‡</sup> | **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 45 | Sell | 5.00% | 12/20/30 | $18810000 | $1054533 | $(32619) | $1021914 |

---

‡The maximum potential amount the fund could be required to deliver as a seller of credit protection if a credit event occurs as defined under the terms of the agreement is the notional amount. The maximum potential amount may be partially offset by any recovery values of the reference entities and upfront payments received upon entering into the agreement.

^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 - Diversified Bond Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AG | – | Assured Guaranty, Inc. |
| BAM | – | Build America Mutual Assurance Corp. |
| CDX | – | Credit Derivatives Indexes |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| GNMA | – | Government National Mortgage Association |
| GO | – | General Obligation |
| IO | – | Interest Only |
| 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 $1,380,524,631, which represented 35.2% 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 $18,016,832.

(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.

------

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 |  | $1004879576 |  |
| Corporate Bonds |  | 919002789 |  |
| U.S. Treasury Securities |  | 603510257 |  |
| Collateralized Mortgage Obligations |  | 488484380 |  |
| Asset-Backed Securities |  | 384003580 |  |
| Convertible Preferred Securities |  | 153440145 |  |
| Sovereign Governments and Agencies |  | 93846777 |  |
| Commercial Mortgage-Backed Securities |  | 82406549 |  |
| Municipal Securities |  | 47088683 |  |
| Preferred Securities |  | 42940637 |  |
| Collateralized Loan Obligations |  | 17797522 |  |
| Short-Term Investments | $538751 | 170796075 |  |
|  | $538751 | $4008196970 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $609293 |  |  |
| Swap Agreements |  | $1021914 |  |
| Forward Foreign Currency Exchange Contracts |  | 972055 |  |
|  | $609293 | $1993969 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $10443972 |  |  |

---

**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\* |  |  | $872081 | $872081 |
| &nbsp;&nbsp;Receivable for variation margin on swap agreements\* | $169898 |  |  | 169898 |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts |  | $972055 |  | 972055 |
|  |  |  |  | $2014034 |

---

\*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 March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **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 |  | $1248318 |  | $1248318 |
| &nbsp;&nbsp;Futures contract transactions |  |  | $(2678273) | (2678273) |
| &nbsp;&nbsp;Swap agreement transactions | $(2410275) |  |  | (2410275) |
|  |  |  |  | $(3840230) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $972055 |  | $972055 |
| &nbsp;&nbsp;Futures contracts |  |  | $(10004479) | (10004479) |
| &nbsp;&nbsp;Swap agreements | $(32619) |  |  | (32619) |
|  |  |  |  | $(9065043) |

---

See Notes to Financial Statements.

------

Schedule of Investments - High Income Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 95.8%** | **Principal<br>Amount/Shares** | **Value** |
| **Aerospace and Defense — 2.5%** | | |
| ATI, Inc., 5.875%, 12/1/27 | $325000 | $325156 |
| ATI, Inc., 4.875%, 10/1/29 | 625000 | 617142 |
| ATI, Inc., 7.25%, 8/15/30 | 850000 | 882006 |
| ATI, Inc., 5.125%, 10/1/31 | 1550000 | 1532872 |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> | 2192000 | 2233749 |
| Axon Enterprise, Inc., 6.25%, 3/15/33<sup>(1)</sup> | 2350000 | 2400739 |
| Boeing Co., 6.86%, 5/1/54 | 1625000 | 1789897 |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | 1100000 | 1142996 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 675000 | 718735 |
| Bombardier, Inc., 7.25%, 7/1/31<sup>(1)</sup> | 1325000 | 1390146 |
| Bombardier, Inc., 6.75%, 6/15/33<sup>(1)</sup> | 825000 | 853015 |
| Carpenter Technology Corp., 5.625%, 3/1/34<sup>(1)</sup> | 1150000 | 1140845 |
| Efesto Bidco SpA Efesto U.S. LLC, 7.50%, 2/15/32<sup>(1)</sup> | 2600000 | 2590396 |
| Goat Holdco LLC, 6.75%, 2/1/32<sup>(1)</sup> | 725000 | 730071 |
| Moog, Inc., 5.50%, 10/15/34<sup>(1)</sup> | 550000 | 553103 |
| OneSky Flight LLC, 8.875%, 12/15/29<sup>(1)</sup> | 1000000 | 1032975 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 1600000 | 1601573 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(1)</sup> | 1400000 | 1418746 |
| TransDigm, Inc., 6.375%, 3/1/29<sup>(1)</sup> | 825000 | 841428 |
| TransDigm, Inc., 4.875%, 5/1/29 | 1725000 | 1700710 |
| TransDigm, Inc., 6.875%, 12/15/30<sup>(1)</sup> | 1875000 | 1922424 |
| TransDigm, Inc., 7.125%, 12/1/31<sup>(1)</sup> | 225000 | 232516 |
| TransDigm, Inc., 6.625%, 3/1/32<sup>(1)</sup> | 2975000 | 3037832 |
| TransDigm, Inc., 6.375%, 5/31/33<sup>(1)</sup> | 9221000 | 9179121 |
| TransDigm, Inc., 6.25%, 1/31/34<sup>(1)</sup> | 700000 | 708296 |
| TransDigm, Inc., 6.75%, 1/31/34<sup>(1)</sup> | 1675000 | 1698207 |
| TransDigm, Inc., 6.125%, 7/31/34<sup>(1)</sup> | 3375000 | 3323674 |
|  |  | 45598370 |
| **Air Freight and Logistics — 0.1%** |  |  |
| Rand Parent LLC, 8.50%, 2/15/30<sup>(1)</sup> | 1025000 | 1052988 |
| **Automobile Components — 1.5%** |  |  |
| Adient Global Holdings Ltd., 8.25%, 4/15/31<sup>(1)</sup> | 725000 | 752484 |
| Adient Global Holdings Ltd., 7.50%, 2/15/33<sup>(1)</sup> | 350000 | 354130 |
| American Axle & Manufacturing, Inc., 5.00%, 10/1/29 | 2961000 | 2826583 |
| American Axle & Manufacturing, Inc., 6.375%, 10/15/32<sup>(1)</sup> | 550000 | 544802 |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)</sup> | 700000 | 681879 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, 2/15/30<sup>(1)</sup> | 1625000 | 1662708 |
| Clarios Global LP/Clarios U.S. Finance Co., 6.75%, 9/15/32<sup>(1)</sup> | 1250000 | 1260788 |
| Cyprium Corp./Cyprium Holdings Luxembourg SARL, 6.125%, 4/15/31<sup>(1)</sup> | 500000 | 494159 |
| Dana, Inc., 4.25%, 9/1/30 | 202000 | 191588 |
| Dana, Inc., 4.50%, 2/15/32 | 795000 | 742576 |
| Dealer Tire LLC/DT Issuer LLC, 8.00%, 2/1/28<sup>(1)</sup> | 1050000 | 1027303 |
| Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/29<sup>(1)</sup> | 2200000 | 1966201 |
| Garrett Motion Holdings, Inc./Garrett LX I SARL, 7.75%, 5/31/32<sup>(1)</sup> | 625000 | 647553 |
| Goodyear Tire & Rubber Co., 5.00%, 7/15/29 | 1400000 | 1325725 |
| Goodyear Tire & Rubber Co., 5.25%, 7/15/31 | 2704000 | 2421608 |
| Goodyear Tire & Rubber Co., 5.625%, 4/30/33 | 775000 | 680202 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Patrick Industries, Inc., 4.75%, 5/1/29<sup>(1)</sup> | $1850000 | $1800933 |
| Patrick Industries, Inc., 6.375%, 11/1/32<sup>(1)</sup> | 200000 | 200262 |
| Phinia, Inc., 6.625%, 10/15/32<sup>(1)</sup> | 1050000 | 1069473 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(1)</sup> | 3500000 | 3489687 |
| ZF North America Capital, Inc., 6.75%, 4/23/30<sup>(1)</sup> | 700000 | 677658 |
| ZF North America Capital, Inc., 7.50%, 3/24/31<sup>(1)</sup> | 1875000 | 1843294 |
| ZF North America Capital, Inc., 6.875%, 4/23/32<sup>(1)</sup> | 1000000 | 951033 |
|  |  | 27612629 |
| **Automobiles — 0.6%** |  |  |
| Nissan Motor Acceptance Co. LLC, 5.625%, 9/29/28<sup>(1)</sup> | 1300000 | 1276669 |
| Nissan Motor Acceptance Co. LLC, 5.55%, 9/13/29<sup>(1)</sup> | 325000 | 313524 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 1575000 | 1515002 |
| Nissan Motor Co. Ltd., 7.50%, 7/17/30<sup>(1)</sup> | 200000 | 201709 |
| Nissan Motor Co. Ltd., 4.81%, 9/17/30<sup>(1)</sup> | 2200000 | 1999662 |
| Nissan Motor Co. Ltd., 7.75%, 7/17/32<sup>(1)</sup> | 1250000 | 1267018 |
| Nissan Motor Co. Ltd., 8.125%, 7/17/35<sup>(1)</sup> | 2250000 | 2316918 |
| Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, 10.00%, 1/15/31<sup>(1)</sup> | 400000 | 388990 |
| Thor Industries, Inc., 4.00%, 10/15/29<sup>(1)</sup> | 575000 | 543224 |
| Winnebago Industries, Inc., 6.25%, 7/15/28<sup>(1)</sup> | 442000 | 442409 |
|  |  | 10265125 |
| **Banks — 1.1%** |  |  |
| CrossCountry Intermediate HoldCo LLC, 6.50%, 10/1/30<sup>(1)</sup> | 1225000 | 1169126 |
| CrossCountry Intermediate HoldCo LLC, 6.75%, 12/1/32<sup>(1)</sup> | 1275000 | 1200974 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 2875000 | 2873027 |
| Freedom Mortgage Corp., 12.25%, 10/1/30<sup>(1)</sup> | 250000 | 269929 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 1500000 | 1521442 |
| Freedom Mortgage Holdings LLC, 7.875%, 4/1/33<sup>(1)</sup> | 825000 | 774348 |
| LD Holdings Group LLC, 8.75%, 11/1/27<sup>(1)</sup> | 1002000 | 944029 |
| LD Holdings Group LLC, 6.125%, 4/1/28<sup>(1)</sup> | 875000 | 734809 |
| PHH Escrow Issuer LLC/PHH Corp., 9.875%, 11/1/29<sup>(1)</sup> | 1773000 | 1712508 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.625%, 3/1/29<sup>(1)</sup> | 300000 | 284270 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/1/31<sup>(1)</sup> | 900000 | 830937 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 4.00%, 10/15/33<sup>(1)</sup> | 3750000 | 3364226 |
| UniCredit SpA, VRN, 5.46%, 6/30/35<sup>(1)</sup> | 1000000 | 998584 |
| United Wholesale Mortgage LLC, 5.75%, 6/15/27<sup>(1)</sup> | 500000 | 492580 |
| United Wholesale Mortgage LLC, 5.50%, 4/15/29<sup>(1)</sup> | 1950000 | 1827016 |
| UWM Holdings LLC, 6.625%, 2/1/30<sup>(1)</sup> | 425000 | 401228 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 825000 | 752009 |
|  |  | 20151042 |
| **Beverages — 0.2%** |  |  |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1250000 | 1252933 |
| Primo Water Holdings, Inc./Triton Water Holdings, Inc., 4.375%, 4/30/29<sup>(1)</sup> | 2550000 | 2479560 |
|  |  | 3732493 |
| **Biotechnology — 0.3%** |  |  |
| AbbVie, Inc., 5.60%, 3/15/55 | 303000 | 298757 |
| BioMarin Pharmaceutical, Inc., 5.50%, 2/15/34<sup>(1)</sup> | 800000 | 788209 |
| Genmab AS/Genmab Finance LLC, 6.25%, 12/15/32<sup>(1)</sup> | 1400000 | 1436340 |
| Genmab AS/Genmab Finance LLC, 7.25%, 12/15/33<sup>(1)</sup> | 2400000 | 2514350 |
|  |  | 5037656 |
| **Broadline Retail — 0.5%** |  |  |
| Amazon.com, Inc., 5.80%, 3/13/56 | 200000 | 199980 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Amazon.com, Inc., 5.95%, 3/13/66 | $200000 | $200808 |
| Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, 12/1/27<sup>(1)</sup> | 825000 | 822244 |
| Macy's Retail Holdings LLC, 4.50%, 12/15/34 | 250000 | 213397 |
| Macy's Retail Holdings LLC, 6.375%, 3/15/37 | 700000 | 619226 |
| Macy's Retail Holdings LLC, 5.125%, 1/15/42 | 2175000 | 1620585 |
| Macy's Retail Holdings LLC, 4.30%, 2/15/43 | 75000 | 50341 |
| Millennium Escrow Corp., 6.625%, 8/1/26<sup>(1)</sup> | 1350000 | 1263808 |
| QVC, Inc., 6.875%, 4/15/29<sup>(1)(2)</sup> | 341000 | 151745 |
| Rakuten Group, Inc., 11.25%, 2/15/27<sup>(1)</sup> | 600000 | 621707 |
| Rakuten Group, Inc., 9.75%, 4/15/29<sup>(1)</sup> | 2375000 | 2533390 |
| Saks Global Enterprises LLC, 11.00%, 12/15/29<sup>(1)(2)(3)</sup> | 2100900 | 39392 |
| SGUS LLC, 11.00%, 12/15/29<sup>(1)(2)(3)</sup> | 921632 | 101380 |
|  |  | 8438003 |
| **Building Products — 2.2%** |  |  |
| Advanced Drainage Systems, Inc., 5.375%, 3/1/34<sup>(1)</sup> | 275000 | 268296 |
| APi Group DE, Inc., 4.125%, 7/15/29<sup>(1)</sup> | 1975000 | 1882395 |
| APi Group DE, Inc., 4.75%, 10/15/29<sup>(1)</sup> | 750000 | 726535 |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> | 1950000 | 1900541 |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 5350000 | 4931910 |
| Builders FirstSource, Inc., 6.375%, 6/15/32<sup>(1)</sup> | 3400000 | 3399699 |
| Builders FirstSource, Inc., 6.375%, 3/1/34<sup>(1)</sup> | 5350000 | 5288298 |
| Builders FirstSource, Inc., 6.75%, 5/15/35<sup>(1)</sup> | 2000000 | 2000584 |
| Camelot Return Merger Sub, Inc., 8.75%, 8/1/28<sup>(1)</sup> | 825000 | 490415 |
| Cornerstone Building Brands, Inc., 6.125%, 1/15/29<sup>(1)</sup> | 725000 | 148625 |
| Cornerstone Building Brands, Inc., 9.50%, 8/15/29<sup>(1)</sup> | 700000 | 417482 |
| CP Atlas Buyer, Inc., 9.75%, 7/15/30<sup>(1)</sup> | 850000 | 797944 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.625%, 12/15/30<sup>(1)</sup> | 1375000 | 1400175 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.75%, 7/15/31<sup>(1)</sup> | 325000 | 334497 |
| Griffon Corp., 5.75%, 3/1/28 | 2950000 | 2946017 |
| JELD-WEN Holding, Inc., 7.00%, 9/1/32<sup>(1)</sup> | 475000 | 223826 |
| JELD-WEN, Inc., 4.875%, 12/15/27<sup>(1)</sup> | 250000 | 169848 |
| JH North America Holdings, Inc., 5.875%, 1/31/31<sup>(1)</sup> | 700000 | 694670 |
| JH North America Holdings, Inc., 6.125%, 7/31/32<sup>(1)</sup> | 1050000 | 1047506 |
| Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC, 6.75%, 4/1/32<sup>(1)</sup> | 1050000 | 1006297 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 2050000 | 2052874 |
| Standard Building Solutions, Inc., 6.25%, 8/1/33<sup>(1)</sup> | 1675000 | 1657773 |
| Standard Building Solutions, Inc., 5.875%, 3/15/34<sup>(1)</sup> | 2350000 | 2268312 |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 300000 | 296774 |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | 2050000 | 1933509 |
| Standard Industries, Inc., 3.375%, 1/15/31<sup>(1)</sup> | 650000 | 583054 |
| Wilsonart LLC, 11.00%, 8/15/32<sup>(1)</sup> | 1000000 | 726462 |
|  |  | 39594318 |
| **Capital Markets — 1.9%** |  |  |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 6450000 | 6042802 |
| Coinbase Global, Inc., 3.625%, 10/1/31<sup>(1)</sup> | 5649000 | 4780081 |
| Compass Group Diversified Holdings LLC, 5.25%, 4/15/29<sup>(1)</sup> | 1109510 | 1033063 |
| Compass Group Diversified Holdings LLC, 5.00%, 1/15/32<sup>(1)</sup> | 849230 | 738921 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.25%, 5/15/27 | 4592000 | 4503431 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.75%, 1/15/29 | 1917000 | 1886074 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/1/29 | 525000 | 448566 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 10.00%, 11/15/29<sup>(1)</sup> | 2750000 | 2712595 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.00%, 6/15/30 | $1300000 | $1220272 |
| Iliad Holding SAS, 7.00%, 10/15/28<sup>(1)</sup> | 400000 | 402885 |
| Iliad Holding SAS, 8.50%, 4/15/31<sup>(1)</sup> | 750000 | 785365 |
| Iliad Holding SAS, 7.00%, 4/15/32<sup>(1)</sup> | 600000 | 601469 |
| Jane Street Group/JSG Finance, Inc., 4.50%, 11/15/29<sup>(1)</sup> | 1550000 | 1503326 |
| Jane Street Group/JSG Finance, Inc., 7.125%, 4/30/31<sup>(1)</sup> | 225000 | 231427 |
| Jane Street Group/JSG Finance, Inc., 6.125%, 11/1/32<sup>(1)</sup> | 1125000 | 1113473 |
| Jane Street Group/JSG Finance, Inc., 6.75%, 5/1/33<sup>(1)</sup> | 1500000 | 1522917 |
| LCM Investments Holdings II LLC, 4.875%, 5/1/29<sup>(1)</sup> | 1850000 | 1801366 |
| LCM Investments Holdings II LLC, 8.25%, 8/1/31<sup>(1)</sup> | 800000 | 833412 |
| Osaic Holdings, Inc., 6.75%, 8/1/32<sup>(1)</sup> | 1375000 | 1376189 |
| Osaic Holdings, Inc., 8.00%, 8/1/33<sup>(1)</sup> | 1450000 | 1432625 |
|  |  | 34970259 |
| **Chemicals — 3.2%** |  |  |
| Avient Corp., 7.125%, 8/1/30<sup>(1)</sup> | 1500000 | 1525248 |
| Avient Corp., 6.25%, 11/1/31<sup>(1)</sup> | 800000 | 806259 |
| Celanese U.S. Holdings LLC, 7.33%, 7/15/29 | 800000 | 835604 |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30 | 250000 | 255292 |
| Celanese U.S. Holdings LLC, 7.05%, 11/15/30 | 1193000 | 1261953 |
| Celanese U.S. Holdings LLC, 7.00%, 2/15/31 | 975000 | 1001870 |
| Celanese U.S. Holdings LLC, 7.38%, 7/15/32 | 4096000 | 4279026 |
| Celanese U.S. Holdings LLC, 7.20%, 11/15/33 | 5375000 | 5738785 |
| Celanese U.S. Holdings LLC, 7.375%, 2/15/34 | 700000 | 717772 |
| Chemours Co., 5.75%, 11/15/28<sup>(1)</sup> | 2101000 | 2081911 |
| Chemours Co., 4.625%, 11/15/29<sup>(1)</sup> | 1800000 | 1689579 |
| Chemours Co., 8.00%, 1/15/33<sup>(1)</sup> | 1425000 | 1433851 |
| Chemours Co., 7.875%, 3/15/34<sup>(1)</sup> | 2025000 | 2026416 |
| CompoSecure Holdings LLC, 5.625%, 2/1/33<sup>(1)</sup> | 1275000 | 1246529 |
| Consolidated Energy Finance SA, 5.625%, 10/15/28<sup>(1)</sup> | 625000 | 582813 |
| FMC Corp., 3.45%, 10/1/29 | 975000 | 871845 |
| FMC Corp., 5.65%, 5/18/33 | 975000 | 863744 |
| FMC Corp., 6.375%, 5/18/53 | 700000 | 528293 |
| FMC Corp., VRN, 8.45%, 11/1/55 | 900000 | 580284 |
| FXI Holdings, Inc., 11.00%, 11/15/30<sup>(1)</sup> | 2663168 | 2370220 |
| FXI Holdings, Inc., 16.00% PIK, 11/15/29<sup>(1)</sup> | 1711864 | 898729 |
| Herens Holdco SARL, 4.75%, 5/15/28<sup>(1)</sup> | 1000000 | 841515 |
| Innophos Holdings, Inc., 11.50%, 6/15/29<sup>(1)</sup> | 2075000 | 1719096 |
| Mativ Holdings, Inc., 8.00%, 10/1/29<sup>(1)</sup> | 600000 | 559579 |
| Methanex Corp., 5.125%, 10/15/27 | 750000 | 745770 |
| Methanex U.S. Operations, Inc., 6.25%, 3/15/32<sup>(1)</sup> | 350000 | 358267 |
| NOVA Chemicals Corp., 5.25%, 6/1/27<sup>(1)</sup> | 800000 | 799212 |
| NOVA Chemicals Corp., 8.50%, 11/15/28<sup>(1)</sup> | 2025000 | 2107148 |
| NOVA Chemicals Corp., 4.25%, 5/15/29<sup>(1)</sup> | 675000 | 657113 |
| NOVA Chemicals Corp., 9.00%, 2/15/30<sup>(1)</sup> | 1800000 | 1902461 |
| NOVA Chemicals Corp., 7.00%, 12/1/31<sup>(1)</sup> | 1200000 | 1271116 |
| Olin Corp., 5.625%, 8/1/29 | 1775000 | 1754779 |
| Olin Corp., 6.625%, 4/1/33<sup>(1)</sup> | 1425000 | 1395753 |
| Olympus Water U.S. Holding Corp., 4.25%, 10/1/28<sup>(1)</sup> | 500000 | 477931 |
| Olympus Water U.S. Holding Corp., 6.25%, 10/1/29<sup>(1)</sup> | 2850000 | 2696391 |
| SCIH Salt Holdings, Inc., 4.875%, 5/1/28<sup>(1)</sup> | 650000 | 642969 |
| SCIH Salt Holdings, Inc., 6.625%, 5/1/29<sup>(1)</sup> | 1850000 | 1842304 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Scotts Miracle-Gro Co., 4.00%, 4/1/31 | $1950000 | $1803413 |
| Solstice Advanced Materials, Inc., 5.625%, 9/30/33<sup>(1)</sup> | 700000 | 690923 |
| Trinseo Luxco Finance SPV SARL/Trinseo NA Finance SPV LLC, 5.13% Cash plus 2.50% PIK, 5/3/29<sup>(1)(2)(3)</sup> | 1810307 | 63361 |
| Tronox, Inc., 4.625%, 3/15/29<sup>(1)</sup> | 2175000 | 1744002 |
| Tronox, Inc., 9.125%, 9/30/30<sup>(1)</sup> | 200000 | 199942 |
| WR Grace Holdings LLC, 5.625%, 8/15/29<sup>(1)</sup> | 2350000 | 2163608 |
| WR Grace Holdings LLC, 7.375%, 3/1/31<sup>(1)</sup> | 600000 | 602010 |
| WR Grace Holdings LLC, 6.625%, 8/15/32<sup>(1)</sup> | 375000 | 365732 |
| WR Grace Holdings LLC, 7.00%, 8/1/33<sup>(1)</sup> | 500000 | 486015 |
|  |  | 59486433 |
| **Commercial Services and Supplies — 3.0%** |  |  |
| ADT Security Corp., 4.125%, 8/1/29<sup>(1)</sup> | 2175000 | 2079298 |
| ADT Security Corp., 4.875%, 7/15/32<sup>(1)</sup> | 850000 | 794889 |
| ADT Security Corp., 5.875%, 10/15/33<sup>(1)</sup> | 1575000 | 1526962 |
| Allied Universal Holdco LLC, 7.875%, 2/15/31<sup>(1)</sup> | 4075000 | 4204931 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29<sup>(1)</sup> | 8272000 | 8001272 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.875%, 6/15/30<sup>(1)</sup> | 350000 | 355058 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.625%, 6/1/28<sup>(1)</sup> | 1400000 | 1368711 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 4.625%, 6/1/28<sup>(1)</sup> | 1100000 | 1074901 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(1)</sup> | 1300000 | 1309054 |
| Brink's Co., 6.50%, 6/15/29<sup>(1)</sup> | 1550000 | 1575050 |
| Brink's Co., 6.75%, 6/15/32<sup>(1)</sup> | 750000 | 759863 |
| Champions Financing, Inc., 8.75%, 2/15/29<sup>(1)</sup> | 275000 | 246863 |
| Clean Harbors, Inc., 6.375%, 2/1/31<sup>(1)</sup> | 350000 | 355695 |
| Clean Harbors, Inc., 5.75%, 10/15/33<sup>(1)</sup> | 775000 | 773900 |
| Garda World Security Corp., 7.75%, 2/15/28<sup>(1)</sup> | 550000 | 559854 |
| Garda World Security Corp., 6.00%, 6/1/29<sup>(1)</sup> | 3525000 | 3358706 |
| Garda World Security Corp., 6.50%, 1/15/31<sup>(1)</sup> | 500000 | 507291 |
| Garda World Security Corp., 8.25%, 8/1/32<sup>(1)</sup> | 700000 | 693640 |
| Garda World Security Corp., 8.375%, 11/15/32<sup>(1)</sup> | 400000 | 400624 |
| GEO Group, Inc., 8.625%, 4/15/29 | 900000 | 935300 |
| GEO Group, Inc., 10.25%, 4/15/31 | 1950000 | 2081652 |
| GFL Environmental Holdings U.S., Inc., 5.50%, 2/1/34<sup>(1)</sup> | 925000 | 908392 |
| GFL Environmental, Inc., 6.75%, 1/15/31<sup>(1)</sup> | 800000 | 828862 |
| GrafTech Global Enterprises, Inc., 9.875%, 12/23/29<sup>(1)</sup> | 1225000 | 788528 |
| Hightower Holding LLC, 9.125%, 1/31/30<sup>(1)</sup> | 700000 | 717299 |
| Mavis Tire Express Services Topco Corp., 6.50%, 5/15/29<sup>(1)</sup> | 724000 | 718844 |
| Neptune Bidco U.S., Inc., 9.29%, 4/15/29<sup>(1)</sup> | 4750000 | 4767090 |
| Neptune Bidco U.S., Inc., 9.50%, 2/15/33<sup>(1)</sup> | 1340000 | 1301795 |
| Raven Acquisition Holdings LLC, 6.875%, 11/15/31<sup>(1)</sup> | 3800000 | 3666647 |
| Reworld Holding Corp., 5.00%, 9/1/30 | 950000 | 845077 |
| RR Donnelley & Sons Co., 9.50%, 8/1/29<sup>(1)</sup> | 1625000 | 1646148 |
| RR Donnelley & Sons Co., 10.875%, 8/1/29<sup>(1)</sup> | 1000000 | 1009478 |
| RRD Intermediate Holdings, Inc., 11.00% Cash or 12.00% PIK, 12/1/30<sup>(1)</sup> | 1460396 | 1509648 |
| Waste Pro USA, Inc., 7.00%, 2/1/33<sup>(1)</sup> | 1175000 | 1191157 |
| Williams Scotsman, Inc., 4.625%, 8/15/28<sup>(1)</sup> | 1050000 | 1033663 |
| Williams Scotsman, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 1350000 | 1366226 |
| Williams Scotsman, Inc., 6.625%, 4/15/30<sup>(1)</sup> | 575000 | 584539 |
|  |  | 55846907 |
| **Communications Equipment — 0.2%** |  |  |
| Nokia of America Corp., 6.45%, 3/15/29 | 883000 | 896245 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Nokia OYJ, 6.625%, 5/15/39 | $1375000 | $1440809 |
| Viasat, Inc., 6.50%, 7/15/28<sup>(1)</sup> | 575000 | 568678 |
| Viasat, Inc., 7.50%, 5/30/31<sup>(1)</sup> | 675000 | 667884 |
|  |  | 3573616 |
| **Construction and Engineering — 0.6%** |  |  |
| Brand Industrial Services, Inc., 10.375%, 8/1/30<sup>(1)</sup> | 1750000 | 1601535 |
| Brundage-Bone Concrete Pumping Holdings, Inc., 7.50%, 2/1/32<sup>(1)</sup> | 775000 | 783794 |
| Howard Midstream Energy Partners LLC, 7.375%, 7/15/32<sup>(1)</sup> | 2150000 | 2231264 |
| Howard Midstream Energy Partners LLC, 6.625%, 1/15/34<sup>(1)</sup> | 1505000 | 1511798 |
| New Enterprise Stone & Lime Co., Inc., 5.25%, 7/15/28<sup>(1)</sup> | 1075000 | 1059928 |
| New Enterprise Stone & Lime Co., Inc., 9.75%, 7/15/28<sup>(1)</sup> | 2100000 | 2103890 |
| Weekley Homes LLC/Weekley Finance Corp., 4.875%, 9/15/28<sup>(1)</sup> | 1675000 | 1623535 |
|  |  | 10915744 |
| **Construction Materials — 0.5%** |  |  |
| Knife River Corp., 7.75%, 5/1/31<sup>(1)</sup> | 600000 | 621524 |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(1)</sup> | 2950000 | 2993521 |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 1425000 | 1448391 |
| Smyrna Ready Mix Concrete LLC, 6.00%, 11/1/28<sup>(1)</sup> | 3225000 | 3202694 |
| Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/31<sup>(1)</sup> | 600000 | 619185 |
|  |  | 8885315 |
| **Consumer Finance — 3.3%** |  |  |
| Ally Financial, Inc., 6.70%, 2/14/33 | 1075000 | 1083316 |
| Avation Group S Pte. Ltd., 8.50%, 5/15/31<sup>(1)</sup> | 1600000 | 1486263 |
| Azorra Finance Ltd., 7.75%, 4/15/30<sup>(1)</sup> | 1575000 | 1623535 |
| Azorra Finance Ltd., 7.25%, 1/15/31<sup>(1)</sup> | 1275000 | 1288483 |
| Azorra Finance Ltd., 6.25%, 2/15/34<sup>(1)</sup> | 825000 | 767737 |
| Bread Financial Holdings, Inc., VRN, 8.375%, 6/15/35<sup>(1)</sup> | 600000 | 607084 |
| Encore Capital Group, Inc., 9.25%, 4/1/29<sup>(1)</sup> | 400000 | 419000 |
| Encore Capital Group, Inc., 8.50%, 5/15/30<sup>(1)</sup> | 200000 | 211590 |
| FirstCash, Inc., 4.625%, 9/1/28<sup>(1)</sup> | 875000 | 860268 |
| FirstCash, Inc., 5.625%, 1/1/30<sup>(1)</sup> | 575000 | 573291 |
| FirstCash, Inc., 6.875%, 3/1/32<sup>(1)</sup> | 950000 | 969445 |
| GGAM Finance Ltd., 6.875%, 4/15/29<sup>(1)</sup> | 575000 | 589228 |
| GGAM Finance Ltd., 5.875%, 3/15/30<sup>(1)</sup> | 1125000 | 1123701 |
| goeasy Ltd., 9.25%, 12/1/28<sup>(1)</sup> | 400000 | 372400 |
| goeasy Ltd., 7.625%, 7/1/29<sup>(1)</sup> | 1225000 | 1076124 |
| goeasy Ltd., 6.875%, 5/15/30<sup>(1)</sup> | 1300000 | 1078709 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)</sup> | 700000 | 563745 |
| LFS Topco LLC, 8.75%, 7/15/30<sup>(1)</sup> | 2700000 | 2582471 |
| Navient Corp., 4.875%, 3/15/28 | 275000 | 259766 |
| Navient Corp., 5.50%, 3/15/29 | 2775000 | 2546235 |
| Navient Corp., 9.375%, 7/25/30 | 1725000 | 1683123 |
| Navient Corp., 11.50%, 3/15/31 | 1175000 | 1195437 |
| OneMain Finance Corp., 6.625%, 1/15/28 | 2290000 | 2307299 |
| OneMain Finance Corp., 3.875%, 9/15/28 | 400000 | 380437 |
| OneMain Finance Corp., 5.375%, 11/15/29 | 750000 | 723793 |
| OneMain Finance Corp., 7.875%, 3/15/30 | 3550000 | 3665880 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 1650000 | 1614568 |
| OneMain Finance Corp., 4.00%, 9/15/30 | 825000 | 745650 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 1925000 | 1936502 |
| OneMain Finance Corp., 7.125%, 11/15/31 | 1963000 | 1946652 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| OneMain Finance Corp., 6.75%, 3/15/32 | $3075000 | $2987323 |
| OneMain Finance Corp., 7.125%, 9/15/32 | 1000000 | 986106 |
| OneMain Finance Corp., 6.50%, 3/15/33 | 1625000 | 1554867 |
| OneMain Finance Corp., 6.75%, 9/15/33 | 2050000 | 1968210 |
| Phoenix Aviation Capital Ltd., 9.25%, 7/15/30<sup>(1)</sup> | 325000 | 327390 |
| PRA Group, Inc., 8.375%, 2/1/28<sup>(1)</sup> | 1500000 | 1511455 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 975000 | 985108 |
| Rfna LP, 7.875%, 2/15/30<sup>(1)</sup> | 2700000 | 2582666 |
| SLM Corp., 3.125%, 11/2/26 | 2225000 | 2205780 |
| SLM Corp., 6.50%, 1/31/30 | 325000 | 319266 |
| Synchrony Financial, 7.25%, 2/2/33 | 1125000 | 1149863 |
| TrueNoord Capital DAC, 8.75%, 3/1/30<sup>(1)</sup> | 1325000 | 1353880 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 7.875%, 5/1/27<sup>(1)</sup> | 3275000 | 3235606 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 9.50%, 6/1/28<sup>(1)</sup> | 975000 | 953343 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 6.375%, 2/1/30<sup>(1)</sup> | 1875000 | 1621337 |
|  |  | 60023932 |
| **Consumer Staples Distribution & Retail — 0.9%** |  |  |
| Albertsons Cos., Inc., 5.625%, 3/31/32<sup>(1)</sup> | 2500000 | 2463328 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.50%, 2/15/28<sup>(1)</sup> | 2225000 | 2254199 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 3.50%, 3/15/29<sup>(1)</sup> | 325000 | 310199 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 4.875%, 2/15/30<sup>(1)</sup> | 2525000 | 2473153 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.50%, 3/31/31<sup>(1)</sup> | 775000 | 767190 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 6.25%, 3/15/33<sup>(1)</sup> | 550000 | 554128 |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.75%, 3/31/34<sup>(1)</sup> | 2550000 | 2497971 |
| Ingles Markets, Inc., 4.00%, 6/15/31<sup>(1)</sup> | 1950000 | 1819697 |
| Kroger Co., 5.00%, 9/15/34 | 900000 | 888929 |
| Kroger Co., 5.50%, 9/15/54 | 900000 | 836415 |
| Kroger Co., 5.65%, 9/15/64 | 1175000 | 1090261 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(1)</sup> | 539000 | 539923 |
|  |  | 16495393 |
| **Containers and Packaging — 1.5%** |  |  |
| Ardagh Group SA, 9.50%, 12/1/30<sup>(1)</sup> | 705000 | 739766 |
| Ardagh Group SA, 5.50% Cash plus 6.50% PIK, 12/1/30<sup>(1)</sup> | 2000000 | 1688200 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.25%, 9/1/28<sup>(1)</sup> | 900000 | 856683 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 9/1/29<sup>(1)</sup> | 1800000 | 1649505 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 6.25%, 1/30/31<sup>(1)</sup> | 600000 | 595331 |
| Ball Corp., 3.125%, 9/15/31 | 550000 | 495783 |
| Ball Corp., 5.50%, 9/15/33 | 475000 | 475726 |
| Clydesdale Acquisition Holdings, Inc., 6.875%, 1/15/30<sup>(1)</sup> | 500000 | 486611 |
| Clydesdale Acquisition Holdings, Inc., 8.75%, 4/15/30<sup>(1)</sup> | 675000 | 630419 |
| Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/32<sup>(1)</sup> | 2650000 | 2510434 |
| Crown Americas LLC, 5.875%, 6/1/33 | 450000 | 450208 |
| Mauser Packaging Solutions Holding Co., 7.875%, 4/15/30<sup>(1)</sup> | 400000 | 400286 |
| Mauser Packaging Solutions Holding Co., 9.25%, 4/15/30<sup>(1)</sup> | 325000 | 302243 |
| OI European Group BV, 4.75%, 2/15/30<sup>(1)</sup> | 2550000 | 2381413 |
| Owens-Brockway Glass Container, Inc., 6.625%, 5/13/27<sup>(1)</sup> | 2906000 | 2913887 |
| Owens-Brockway Glass Container, Inc., 7.25%, 5/15/31<sup>(1)</sup> | 1775000 | 1701964 |
| Owens-Brockway Glass Container, Inc., 7.375%, 6/1/32<sup>(1)</sup> | 1100000 | 1042499 |
| Sealed Air Corp., 4.00%, 12/1/27<sup>(1)</sup> | 689000 | 687707 |
| Sealed Air Corp., 5.00%, 4/15/29<sup>(1)</sup> | 1900000 | 1915438 |
| Sealed Air Corp., 6.50%, 7/15/32<sup>(1)</sup> | 475000 | 498553 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Sealed Air Corp./Sealed Air Corp. U.S., 7.25%, 2/15/31<sup>(1)</sup> | $725000 | $760707 |
| TriMas Corp., 4.125%, 4/15/29<sup>(1)</sup> | 1275000 | 1214226 |
| Trivium Packaging Finance BV, 8.25%, 7/15/30<sup>(1)</sup> | 1518000 | 1589426 |
| Trivium Packaging Finance BV, 12.25%, 1/15/31<sup>(1)</sup> | 2250000 | 2437850 |
|  |  | 28424865 |
| **Distributors — 0.2%** |  |  |
| Performance Food Group, Inc., 4.25%, 8/1/29<sup>(1)</sup> | 1475000 | 1418035 |
| Performance Food Group, Inc., 6.125%, 9/15/32<sup>(1)</sup> | 1200000 | 1203716 |
| Performance Food Group, Inc., 5.625%, 3/1/34<sup>(1)</sup> | 300000 | 289679 |
| RB Global Holdings, Inc., 7.75%, 3/15/31<sup>(1)</sup> | 775000 | 803715 |
|  |  | 3715145 |
| **Diversified Consumer Services — 0.3%** |  |  |
| Carriage Services, Inc., 4.25%, 5/15/29<sup>(1)</sup> | 1250000 | 1188561 |
| Service Corp. International, 5.125%, 6/1/29 | 75000 | 74565 |
| Service Corp. International, 4.00%, 5/15/31 | 2825000 | 2635246 |
| Service Corp. International, 5.75%, 10/15/32 | 1600000 | 1598922 |
|  |  | 5497294 |
| **Diversified REITs — 2.2%** |  |  |
| Brandywine Operating Partnership LP, 6.125%, 1/15/31 | 650000 | 580373 |
| Iron Mountain Information Management Services, Inc., 5.00%, 7/15/32<sup>(1)</sup> | 5950000 | 5621209 |
| MPT Operating Partnership LP/MPT Finance Corp., 5.00%, 10/15/27 | 3875000 | 3610338 |
| MPT Operating Partnership LP/MPT Finance Corp., 4.625%, 8/1/29 | 1550000 | 1207062 |
| MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 | 1045000 | 683952 |
| MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32<sup>(1)</sup> | 2100000 | 2130664 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 5.875%, 10/1/28<sup>(1)</sup> | 950000 | 946478 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.875%, 5/15/29<sup>(1)</sup> | 1450000 | 1392886 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 7.00%, 2/1/30<sup>(1)</sup> | 1125000 | 1139511 |
| Pebblebrook Hotel LP/PEB Finance Corp., 6.375%, 10/15/29<sup>(1)</sup> | 750000 | 751968 |
| Prologis LP, 5.25%, 6/15/53 | 663000 | 618409 |
| Prologis LP, 5.25%, 3/15/54 | 475000 | 443358 |
| RHP Hotel Properties LP/RHP Finance Corp., 7.25%, 7/15/28<sup>(1)</sup> | 375000 | 383104 |
| RHP Hotel Properties LP/RHP Finance Corp., 4.50%, 2/15/29<sup>(1)</sup> | 950000 | 921463 |
| RHP Hotel Properties LP/RHP Finance Corp., 6.50%, 4/1/32<sup>(1)</sup> | 2000000 | 2037682 |
| RHP Hotel Properties LP/RHP Finance Corp., 6.50%, 6/15/33<sup>(1)</sup> | 725000 | 738765 |
| RHP Hotel Properties LP/RHP Finance Corp., 5.75%, 3/15/34<sup>(1)</sup> | 775000 | 765424 |
| RLJ Lodging Trust LP, 3.75%, 7/1/26<sup>(1)</sup> | 600000 | 597463 |
| RLJ Lodging Trust LP, 4.00%, 9/15/29<sup>(1)</sup> | 2675000 | 2507321 |
| Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, 6.00%, 1/15/30<sup>(1)</sup> | 3169000 | 2984062 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 4.75%, 4/15/28<sup>(1)</sup> | 1250000 | 1244299 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 6.50%, 2/15/29<sup>(1)</sup> | 2750000 | 2673285 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 8.625%, 6/15/32<sup>(1)</sup> | 4175000 | 4255163 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC, 8.625%, 6/15/32<sup>(1)</sup> | 350000 | 356720 |
| XHR LP, 4.875%, 6/1/29<sup>(1)</sup> | 1075000 | 1042064 |
| XHR LP, 6.625%, 5/15/30<sup>(1)</sup> | 650000 | 657056 |
|  |  | 40290079 |
| **Diversified Telecommunication Services — 4.0%** |  |  |
| Altice France SA, 9.50%, 11/1/29<sup>(1)</sup> | 3145208 | 3180469 |
| Altice France SA, 6.875%, 10/15/30<sup>(1)</sup> | 1365921 | 1307792 |
| Altice France SA, 6.50%, 10/15/31<sup>(1)</sup> | 1308819 | 1242667 |
| Altice France SA, 6.50%, 4/15/32<sup>(1)</sup> | 3425063 | 3248309 |
| Altice France SA, 6.875%, 7/15/32<sup>(1)</sup> | 3734759 | 3542170 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| APLD ComputeCo LLC, 9.25%, 12/15/30<sup>(1)</sup> | $5350000 | $5516931 |
| AT&T, Inc., 3.55%, 9/15/55 | 1025000 | 667128 |
| AT&T, Inc., 6.00%, 4/30/56 | 2570000 | 2516235 |
| Black Pearl Compute LLC, 6.125%, 2/15/31<sup>(1)</sup> | 1700000 | 1732380 |
| Cipher Compute LLC, 7.125%, 11/15/30<sup>(1)</sup> | 2000000 | 2074558 |
| Cogent Communications Group LLC/Cogent Finance, Inc., 7.00%, 6/15/27<sup>(1)</sup> | 875000 | 866121 |
| Cogent Communications Group LLC/Cogent Finance, Inc., 7.00%, 6/15/27<sup>(1)</sup> | 475000 | 469358 |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29<sup>(1)</sup> | 2000000 | 2103580 |
| Embarq LLC, 8.00%, 6/1/36 | 1740000 | 557984 |
| Fibercop SpA, 6.375%, 11/15/33<sup>(1)</sup> | 1262000 | 1250162 |
| Fibercop SpA, 6.00%, 9/30/34<sup>(1)</sup> | 1509000 | 1439263 |
| Flash Compute LLC, 7.25%, 12/31/30<sup>(1)</sup> | 1100000 | 1108845 |
| Frontier Communications Holdings LLC, 5.00%, 5/1/28<sup>(1)</sup> | 2150000 | 2150824 |
| Frontier Communications Holdings LLC, 6.75%, 5/1/29<sup>(1)</sup> | 2900000 | 2905498 |
| Frontier Communications Holdings LLC, 5.875%, 11/1/29 | 1735398 | 1747015 |
| Frontier Communications Holdings LLC, 6.00%, 1/15/30<sup>(1)</sup> | 1950000 | 1962913 |
| Frontier Communications Holdings LLC, 8.75%, 5/15/30<sup>(1)</sup> | 525000 | 539092 |
| Frontier North, Inc., 6.73%, 2/15/28 | 700000 | 725988 |
| Hughes Satellite Systems Corp., 6.625%, 8/1/26 | 775000 | 583877 |
| Level 3 Financing, Inc., 4.25%, 7/1/28<sup>(1)</sup> | 1650000 | 1600309 |
| Level 3 Financing, Inc., 3.625%, 1/15/29<sup>(1)</sup> | 50000 | 47000 |
| Level 3 Financing, Inc., 3.75%, 7/15/29<sup>(1)</sup> | 1200000 | 1117500 |
| Level 3 Financing, Inc., 6.875%, 6/30/33<sup>(1)</sup> | 575000 | 585989 |
| Level 3 Financing, Inc., 7.00%, 3/31/34<sup>(1)</sup> | 2125000 | 2176714 |
| Level 3 Financing, Inc., 8.50%, 1/15/36<sup>(1)</sup> | 1150000 | 1201016 |
| Lumen Technologies, Inc., 6.875%, 1/15/28 | 425000 | 425355 |
| Lumen Technologies, Inc., 4.50%, 1/15/29<sup>(1)</sup> | 1800000 | 1695473 |
| Lumen Technologies, Inc., 5.375%, 6/15/29<sup>(1)</sup> | 650000 | 616355 |
| Sable International Finance Ltd., 7.125%, 10/15/32<sup>(1)</sup> | 1200000 | 1186517 |
| SV RNO Property Owner 1 LLC, 5.875%, 3/1/31<sup>(1)</sup> | 4400000 | 4351985 |
| Telesat Canada/Telesat LLC, 5.625%, 12/6/26<sup>(1)</sup> | 1550000 | 1240000 |
| Telesat Canada/Telesat LLC, 4.875%, 6/1/27<sup>(1)</sup> | 500000 | 389981 |
| Telesat Canada/Telesat LLC, 6.50%, 10/15/27<sup>(1)</sup> | 800000 | 375473 |
| Windstream Services LLC/Windstream Escrow Finance Corp., 8.25%, 10/1/31<sup>(1)</sup> | 4425000 | 4627829 |
| WULF Compute LLC, 7.75%, 10/15/30<sup>(1)</sup> | 3725000 | 3938498 |
| Zayo Group Holdings, Inc., 5.75% Cash plus 0.50% PIK, 3/9/30<sup>(1)</sup> | 2960250 | 2944620 |
| Zayo Group Holdings, Inc., 7.125% Cash plus 1.875% PIK, 9/9/30<sup>(1)</sup> | 960798 | 898567 |
|  |  | 72858340 |
| **Electric Utilities — 3.3%** |  |  |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(1)</sup> | 2625000 | 2665327 |
| Alpha Generation LLC, 6.25%, 1/15/34<sup>(1)</sup> | 575000 | 565261 |
| American Electric Power Co., Inc., VRN, 6.95%, 12/15/54 | 600000 | 636940 |
| American Electric Power Co., Inc., VRN, 7.05%, 12/15/54 | 875000 | 903865 |
| California Buyer Ltd./Atlantica Sustainable Infrastructure PLC, 6.375%, 2/15/32<sup>(1)</sup> | 1350000 | 1319860 |
| Constellation Energy Generation LLC, 4.625%, 2/1/29<sup>(1)</sup> | 575000 | 568214 |
| Constellation Energy Generation LLC, 5.00%, 2/1/31<sup>(1)</sup> | 3275000 | 3284990 |
| ContourGlobal Power Holdings SA, 6.75%, 2/28/30<sup>(1)</sup> | 1400000 | 1417486 |
| Edison International, VRN, 7.875%, 6/15/54 | 1025000 | 1050695 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 575000 | 574653 |
| NRG Energy, Inc., 5.75%, 1/15/28 | 175000 | 175421 |
| NRG Energy, Inc., 5.25%, 6/15/29<sup>(1)</sup> | 1767000 | 1750395 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| NRG Energy, Inc., 5.75%, 7/15/29<sup>(1)</sup> | $3420000 | $3416546 |
| NRG Energy, Inc., 3.625%, 2/15/31<sup>(1)</sup> | 1060000 | 976659 |
| NRG Energy, Inc., 3.875%, 2/15/32<sup>(1)</sup> | 650000 | 598487 |
| NRG Energy, Inc., 6.00%, 2/1/33<sup>(1)</sup> | 3425000 | 3428065 |
| NRG Energy, Inc., 7.00%, 3/15/33<sup>(1)</sup> | 850000 | 920648 |
| NRG Energy, Inc., 5.75%, 1/15/34<sup>(1)</sup> | 3350000 | 3306733 |
| NRG Energy, Inc., 6.25%, 11/1/34<sup>(1)</sup> | 1650000 | 1664499 |
| NRG Energy, Inc., 6.00%, 1/15/36<sup>(1)</sup> | 5100000 | 5056661 |
| PG&E Corp., 5.00%, 7/1/28 | 2250000 | 2233704 |
| PG&E Corp., VRN, 7.375%, 3/15/55 | 3250000 | 3273544 |
| PG&E Corp., VRN, 6.85%, 9/15/56 | 525000 | 518996 |
| Talen Energy Supply LLC, 8.625%, 6/1/30<sup>(1)</sup> | 2175000 | 2282743 |
| Talen Energy Supply LLC, 6.25%, 2/1/34<sup>(1)</sup> | 4175000 | 4131427 |
| Talen Energy Supply LLC, 6.50%, 2/1/36<sup>(1)</sup> | 1625000 | 1637156 |
| Vistra Operations Co. LLC, 5.625%, 2/15/27<sup>(1)</sup> | 3083000 | 3084385 |
| Vistra Operations Co. LLC, 5.00%, 7/31/27<sup>(1)</sup> | 850000 | 847400 |
| Vistra Operations Co. LLC, 4.375%, 5/1/29<sup>(1)</sup> | 750000 | 732621 |
| Vistra Operations Co. LLC, 7.75%, 10/15/31<sup>(1)</sup> | 2925000 | 3065288 |
| Vistra Operations Co. LLC, 6.875%, 4/15/32<sup>(1)</sup> | 4125000 | 4271592 |
| VoltaGrid LLC, 7.375%, 11/1/30<sup>(1)</sup> | 285000 | 294482 |
| XPLR Infrastructure Operating Partners LP, 8.625%, 3/15/33<sup>(1)</sup> | 425000 | 449265 |
|  |  | 61104008 |
| **Electrical Equipment — 0.1%** |  |  |
| Atkore, Inc., 4.25%, 6/1/31<sup>(1)</sup> | 625000 | 586789 |
| WESCO Distribution, Inc., 5.25%, 4/15/31<sup>(1)</sup> | 500000 | 498265 |
| WESCO Distribution, Inc., 5.50%, 4/15/34<sup>(1)</sup> | 775000 | 765196 |
|  |  | 1850250 |
| **Electronic Equipment, Instruments and Components — 1.0%** |  |  |
| Coherent Corp., 5.00%, 12/15/29<sup>(1)</sup> | 3700000 | 3632411 |
| Imola Merger Corp., 4.75%, 5/15/29<sup>(1)</sup> | 6990000 | 6798465 |
| Insight Enterprises, Inc., 6.625%, 5/15/32<sup>(1)</sup> | 650000 | 627916 |
| Sensata Technologies BV, 4.00%, 4/15/29<sup>(1)</sup> | 1808000 | 1745994 |
| Sensata Technologies BV, 5.875%, 9/1/30<sup>(1)</sup> | 1000000 | 1002433 |
| Sensata Technologies, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 375000 | 348098 |
| Sensata Technologies, Inc., 6.625%, 7/15/32<sup>(1)</sup> | 600000 | 612423 |
| TTM Technologies, Inc., 4.00%, 3/1/29<sup>(1)</sup> | 1675000 | 1610025 |
| Zebra Technologies Corp., 6.50%, 6/1/32<sup>(1)</sup> | 1825000 | 1838899 |
|  |  | 18216664 |
| **Energy Equipment and Services — 2.4%** |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp., 6.625%, 9/1/32<sup>(1)</sup> | 100000 | 102022 |
| Archrock Services LP/Archrock Partners Finance Corp., 6.00%, 2/1/34<sup>(1)</sup> | 625000 | 619255 |
| Borr IHC Ltd./Borr Finance LLC, 10.00%, 11/15/28<sup>(1)</sup> | 3542683 | 3635878 |
| Borr IHC Ltd./Borr Finance LLC, 10.375%, 11/15/30<sup>(1)</sup> | 1083495 | 1100711 |
| Bristow Group, Inc., 6.75%, 2/1/33<sup>(1)</sup> | 1450000 | 1466605 |
| Enerflex, Inc., 6.875%, 1/15/31<sup>(1)</sup> | 1000000 | 1021675 |
| Global Marine, Inc., 7.00%, 6/1/28 | 2625000 | 2651762 |
| Helix Energy Solutions Group, Inc., 9.75%, 3/1/29<sup>(1)</sup> | 1300000 | 1367412 |
| Kodiak Gas Services LLC, 5.875%, 4/1/31<sup>(1)</sup> | 1315000 | 1322328 |
| Kodiak Gas Services LLC, 6.50%, 10/1/33<sup>(1)</sup> | 400000 | 404597 |
| Nabors Industries, Inc., 9.125%, 1/31/30<sup>(1)</sup> | 221000 | 232174 |
| Nabors Industries, Inc., 8.875%, 8/15/31<sup>(1)</sup> | 1899000 | 1979540 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Nabors Industries, Inc., 7.625%, 11/15/32<sup>(1)</sup> | $650000 | $665787 |
| Noble Finance II LLC, 8.00%, 4/15/30<sup>(1)</sup> | 2425000 | 2498021 |
| Precision Drilling Corp., 6.875%, 1/15/29<sup>(1)</sup> | 1500000 | 1511979 |
| SESI LLC, 7.875%, 9/30/30<sup>(1)</sup> | 875000 | 892865 |
| Star Holding LLC, 8.75%, 8/1/31<sup>(1)</sup> | 800000 | 812628 |
| Transocean Aquila Ltd., 8.00%, 9/30/28<sup>(1)</sup> | 553846 | 569518 |
| Transocean International Ltd., 8.25%, 5/15/29<sup>(1)</sup> | 2500000 | 2584698 |
| Transocean International Ltd., 8.75%, 2/15/30<sup>(1)</sup> | 419125 | 437195 |
| Transocean International Ltd., 7.50%, 4/15/31 | 2475000 | 2531410 |
| Transocean International Ltd., 8.50%, 5/15/31<sup>(1)</sup> | 1950000 | 2046355 |
| Transocean International Ltd., 7.875%, 10/15/32<sup>(1)</sup> | 100000 | 106919 |
| Transocean International Ltd., 6.80%, 3/15/38 | 5125000 | 4927139 |
| USA Compression Partners LP/USA Compression Finance Corp., 7.125%, 3/15/29<sup>(1)</sup> | 2000000 | 2047532 |
| USA Compression Partners LP/USA Compression Finance Corp., 6.25%, 10/1/33<sup>(1)</sup> | 1875000 | 1872159 |
| Valaris Ltd., 8.375%, 4/30/30<sup>(1)</sup> | 2275000 | 2358506 |
| Weatherford International Ltd., 6.75%, 10/15/33<sup>(1)</sup> | 1700000 | 1738112 |
|  |  | 43504782 |
| **Entertainment — 1.1%** |  |  |
| Allen Media LLC/Allen Media Co-Issuer, Inc., 10.50%, 2/15/28<sup>(1)</sup> | 400000 | 164004 |
| AMC Entertainment Holdings, Inc., 7.50%, 2/15/29<sup>(1)</sup> | 2769000 | 1972779 |
| Cinemark USA, Inc., 5.25%, 7/15/28<sup>(1)</sup> | 1725000 | 1711477 |
| Cinemark USA, Inc., 7.00%, 8/1/32<sup>(1)</sup> | 875000 | 899856 |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 | 200000 | 197550 |
| Discovery Global Holdings, Inc., 4.05%, 3/15/29 | 1475000 | 1427984 |
| Discovery Global Holdings, Inc., 4.05%, 3/15/29 | 521000 | 494950 |
| Discovery Global Holdings, Inc., 5.05%, 3/15/42 | 5275000 | 3488388 |
| Discovery Global Holdings, Inc., 5.14%, 3/15/52 | 264000 | 160710 |
| Live Nation Entertainment, Inc., 4.75%, 10/15/27<sup>(1)</sup> | 2275000 | 2262463 |
| Live Nation Entertainment, Inc., 3.75%, 1/15/28<sup>(1)</sup> | 925000 | 902853 |
| Muvico LLC, 9.00% Cash plus 6.00% PIK, 2/19/29<sup>(1)</sup> | 4069675 | 3862287 |
| OAK-Eagle Acquireco, Inc., 7.25%, 7/1/33<sup>(1)(4)</sup> | 1075000 | 1114500 |
| OAK-Eagle Acquireco, Inc., 8.75%, 7/1/34<sup>(1)(4)</sup> | 900000 | 942792 |
| Playtika Holding Corp., 4.25%, 3/15/29<sup>(1)</sup> | 1200000 | 937680 |
| Starz Capital Holdings LLC, 5.50%, 4/15/29<sup>(1)</sup> | 250000 | 205000 |
|  |  | 20745273 |
| **Financial Services — 2.4%** |  |  |
| Block, Inc., 5.625%, 8/15/30<sup>(1)</sup> | 1400000 | 1393055 |
| Block, Inc., 6.50%, 5/15/32 | 200000 | 201951 |
| Block, Inc., 6.00%, 8/15/33<sup>(1)</sup> | 1325000 | 1304480 |
| Burford Capital Global Finance LLC, 6.25%, 4/15/28<sup>(1)</sup> | 200000 | 188344 |
| Burford Capital Global Finance LLC, 7.50%, 7/15/33<sup>(1)</sup> | 675000 | 562808 |
| Burford Capital Global Finance LLC, 8.50%, 1/15/34<sup>(1)</sup> | 200000 | 172000 |
| HA Sustainable Infrastructure Capital, Inc., VRN, 7.125%, 11/15/56 | 525000 | 522674 |
| ION Platform Finance U.S., Inc./ION Platform Finance SARL, 8.75%, 5/1/29<sup>(1)</sup> | 885000 | 823957 |
| ION Platform Finance U.S., Inc./ION Platform Finance SARL, 9.50%, 5/30/29<sup>(1)</sup> | 400000 | 376971 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 8/15/28<sup>(1)</sup> | 2350000 | 2192107 |
| Jefferson Capital Holdings LLC, 6.00%, 8/15/26<sup>(1)</sup> | 1479000 | 1480952 |
| Jefferson Capital Holdings LLC, 9.50%, 2/15/29<sup>(1)</sup> | 1775000 | 1863695 |
| Jefferson Capital Holdings LLC, 8.25%, 5/15/30<sup>(1)</sup> | 2525000 | 2634191 |
| Kinetik Holdings LP, 6.625%, 12/15/28<sup>(1)</sup> | 575000 | 585024 |
| Kinetik Holdings LP, 5.875%, 6/15/30<sup>(1)</sup> | 900000 | 903838 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Midcap Financial Issuer Trust, 6.50%, 5/1/28<sup>(1)</sup> | $1200000 | $1165553 |
| Midcap Financial Issuer Trust, 5.625%, 1/15/30<sup>(1)</sup> | 600000 | 559683 |
| Mobius Merger Sub, Inc., 9.00%, 6/1/30<sup>(1)</sup> | 250000 | 176507 |
| MPH Acquisition Holdings LLC, 5.75%, 12/31/30<sup>(1)</sup> | 1401284 | 1073531 |
| MPH Acquisition Holdings LLC, 6.00% Cash plus 0.75% PIK, 3/31/31<sup>(1)</sup> | 1034649 | 694229 |
| MPH Acquisition Holdings LLC, 6.50% Cash plus 5.00% PIK, 12/31/30<sup>(1)</sup> | 1616238 | 1462587 |
| NCR Atleos Corp., 9.50%, 4/1/29<sup>(1)</sup> | 2550000 | 2731056 |
| Paysafe Finance PLC/Paysafe Holdings U.S. Corp., 4.00%, 6/15/29<sup>(1)</sup> | 475000 | 391252 |
| PennyMac Financial Services, Inc., 4.25%, 2/15/29<sup>(1)</sup> | 2200000 | 2086508 |
| PennyMac Financial Services, Inc., 7.875%, 12/15/29<sup>(1)</sup> | 1775000 | 1816830 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 800000 | 795620 |
| PennyMac Financial Services, Inc., 5.75%, 9/15/31<sup>(1)</sup> | 1275000 | 1181253 |
| PennyMac Financial Services, Inc., 6.875%, 5/15/32<sup>(1)</sup> | 1325000 | 1279973 |
| PennyMac Financial Services, Inc., 6.875%, 2/15/33<sup>(1)</sup> | 1802000 | 1725680 |
| PennyMac Financial Services, Inc., 6.75%, 2/15/34<sup>(1)</sup> | 1850000 | 1733216 |
| Rocket Cos., Inc., 6.50%, 8/1/29<sup>(1)</sup> | 950000 | 961880 |
| Rocket Cos., Inc., 7.125%, 2/1/32<sup>(1)</sup> | 775000 | 799465 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 4594000 | 4649100 |
| Sabre GLBL, Inc., 11.125%, 7/15/30<sup>(1)</sup> | 675000 | 573757 |
| Stonebriar ABF Issuer LLC, 8.125%, 12/15/30<sup>(1)</sup> | 1225000 | 1267026 |
| Walker & Dunlop, Inc., 6.625%, 4/1/33<sup>(1)</sup> | 550000 | 538170 |
| WEX, Inc., 6.50%, 3/15/33<sup>(1)</sup> | 1500000 | 1470535 |
|  |  | 44339458 |
| **Food Products — 1.3%** |  |  |
| B&G Foods, Inc., 8.00%, 9/15/28<sup>(1)</sup> | 1100000 | 1084552 |
| C&S Group Enterprises LLC, 5.00%, 12/15/28<sup>(1)</sup> | 550000 | 513375 |
| Chobani Holdco II LLC, 9.50% PIK, 10/1/29<sup>(1)</sup> | 491152 | 523762 |
| Chobani LLC/Chobani Finance Corp., Inc., 7.625%, 7/1/29<sup>(1)</sup> | 600000 | 613864 |
| Darling Ingredients, Inc., 5.25%, 4/15/27<sup>(1)</sup> | 700000 | 700564 |
| Darling Ingredients, Inc., 6.00%, 6/15/30<sup>(1)</sup> | 1450000 | 1461300 |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)</sup> | 1175000 | 1199641 |
| HLF Financing SARL LLC/Herbalife International, Inc., 12.25%, 4/15/29<sup>(1)</sup> | 819000 | 873868 |
| HLF Financing SARL LLC/Herbalife International, Inc., 4.875%, 6/1/29<sup>(1)</sup> | 825000 | 772678 |
| Industrial F&B Investments III, Inc., 7.75%, 2/11/33<sup>(1)</sup> | 225000 | 227532 |
| KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc., 9.00%, 2/15/29<sup>(1)</sup> | 2750000 | 2866325 |
| Lamb Weston Holdings, Inc., 4.125%, 1/31/30<sup>(1)</sup> | 1375000 | 1309992 |
| Lamb Weston Holdings, Inc., 4.375%, 1/31/32<sup>(1)</sup> | 1450000 | 1348525 |
| Post Holdings, Inc., 4.625%, 4/15/30<sup>(1)</sup> | 350000 | 336247 |
| Post Holdings, Inc., 4.50%, 9/15/31<sup>(1)</sup> | 475000 | 442204 |
| Post Holdings, Inc., 6.25%, 2/15/32<sup>(1)</sup> | 600000 | 606953 |
| Post Holdings, Inc., 6.375%, 3/1/33<sup>(1)</sup> | 875000 | 862792 |
| Post Holdings, Inc., 6.25%, 10/15/34<sup>(1)</sup> | 500000 | 490073 |
| Post Holdings, Inc., 6.50%, 3/15/36<sup>(1)</sup> | 2075000 | 2034176 |
| Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed, 4.625%, 3/1/29<sup>(1)</sup> | 1575000 | 1516853 |
| U.S. Foods, Inc., 6.875%, 9/15/28<sup>(1)</sup> | 1025000 | 1048889 |
| U.S. Foods, Inc., 7.25%, 1/15/32<sup>(1)</sup> | 850000 | 880615 |
| U.S. Foods, Inc., 5.75%, 4/15/33<sup>(1)</sup> | 825000 | 822136 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31<sup>(1)</sup> | 1275000 | 1264818 |
|  |  | 23801734 |
| **Gas Utilities — 0.2%** |  |  |
| AltaGas Ltd., VRN, 7.20%, 10/15/54<sup>(1)</sup> | 150000 | 152498 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| AmeriGas Partners LP/AmeriGas Finance Corp., 5.75%, 5/20/27 | $2226000 | $2242386 |
| AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, 6/1/30<sup>(1)</sup> | 175000 | 186103 |
| Excelerate Energy LP, 8.00%, 5/15/30<sup>(1)</sup> | 1900000 | 1989815 |
|  |  | 4570802 |
| **Ground Transportation — 1.4%** |  |  |
| Albion Financing 1 SARL/Aggreko Holdings, Inc., 7.00%, 5/21/30<sup>(1)</sup> | 2900000 | 2966053 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.75%, 7/15/27<sup>(1)</sup> | 650000 | 647963 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 4.75%, 4/1/28<sup>(1)</sup> | 1425000 | 1391395 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.375%, 3/1/29<sup>(1)</sup> | 850000 | 813796 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.375%, 6/15/32<sup>(1)</sup> | 1600000 | 1592651 |
| Genesee & Wyoming, Inc., 6.25%, 4/15/32<sup>(1)</sup> | 1650000 | 1671780 |
| Hertz Corp., 4.625%, 12/1/26<sup>(1)</sup> | 450000 | 408191 |
| Hertz Corp., 12.625%, 7/15/29<sup>(1)</sup> | 1100000 | 966101 |
| Hertz Corp., 5.00%, 12/1/29<sup>(1)</sup> | 525000 | 222322 |
| NESCO Holdings II, Inc., 5.50%, 4/15/29<sup>(1)</sup> | 1550000 | 1517300 |
| RXO, Inc., 6.375%, 5/15/31<sup>(1)</sup> | 325000 | 312653 |
| Synergy Infrastructure Holdings LLC, 7.875%, 12/1/30<sup>(1)</sup> | 500000 | 510912 |
| United Rentals North America, Inc., 4.875%, 1/15/28 | 325000 | 323805 |
| United Rentals North America, Inc., 4.00%, 7/15/30 | 2825000 | 2685432 |
| United Rentals North America, Inc., 3.875%, 2/15/31 | 800000 | 752568 |
| United Rentals North America, Inc., 3.75%, 1/15/32 | 1150000 | 1055439 |
| United Rentals North America, Inc., 5.375%, 11/15/33<sup>(1)</sup> | 725000 | 705736 |
| United Rentals North America, Inc., 6.125%, 3/15/34<sup>(1)</sup> | 1500000 | 1520756 |
| Vortex Opco LLC, 8.00%, 4/30/30<sup>(1)(2)(3)</sup> | 1219158 | 3487 |
| Watco Cos. LLC/Watco Finance Corp., 7.125%, 8/1/32<sup>(1)</sup> | 2125000 | 2184489 |
| XPO, Inc., 6.25%, 6/1/28<sup>(1)</sup> | 725000 | 735326 |
| XPO, Inc., 7.125%, 6/1/31<sup>(1)</sup> | 375000 | 386520 |
| XPO, Inc., 7.125%, 2/1/32<sup>(1)</sup> | 1500000 | 1548166 |
|  |  | 24922841 |
| **Health Care Equipment and Supplies — 0.8%** |  |  |
| Avantor Funding, Inc., 4.625%, 7/15/28<sup>(1)</sup> | 2850000 | 2783348 |
| Avantor Funding, Inc., 3.875%, 11/1/29<sup>(1)</sup> | 2825000 | 2652472 |
| Bausch & Lomb Corp., 8.375%, 10/1/28<sup>(1)</sup> | 2200000 | 2274250 |
| Insulet Corp., 6.50%, 4/1/33<sup>(1)</sup> | 1200000 | 1225724 |
| Medline Borrower LP, 5.25%, 10/1/29<sup>(1)</sup> | 3052000 | 3026969 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1150000 | 1173268 |
| Sotera Health Holdings LLC, 7.375%, 6/1/31<sup>(1)</sup> | 1425000 | 1473768 |
|  |  | 14609799 |
| **Health Care Providers and Services — 3.4%** |  |  |
| Acadia Healthcare Co., Inc., 5.50%, 7/1/28<sup>(1)</sup> | 1300000 | 1295316 |
| Accendra Health, Inc., 4.50%, 3/31/29<sup>(1)</sup> | 625000 | 377910 |
| Accendra Health, Inc., 6.625%, 4/1/30<sup>(1)</sup> | 820000 | 390841 |
| AHP Health Partners, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 750000 | 742285 |
| CHS/Community Health Systems, Inc., 6.875%, 4/1/28<sup>(1)</sup> | 350000 | 341430 |
| CHS/Community Health Systems, Inc., 6.00%, 1/15/29<sup>(1)</sup> | 1225000 | 1212266 |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29<sup>(1)</sup> | 3423000 | 3295212 |
| CHS/Community Health Systems, Inc., 6.125%, 4/1/30<sup>(1)</sup> | 2275000 | 1980557 |
| CHS/Community Health Systems, Inc., 5.25%, 5/15/30<sup>(1)</sup> | 2250000 | 2122025 |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 1728000 | 1594035 |
| CHS/Community Health Systems, Inc., 10.875%, 1/15/32<sup>(1)</sup> | 1920000 | 2062293 |
| CHS/Community Health Systems, Inc., 9.75%, 1/15/34<sup>(1)</sup> | 2500000 | 2597795 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| CVS Health Corp., VRN, 6.75%, 12/10/54 | $600000 | $607769 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 2100000 | 2165663 |
| DaVita, Inc., 4.625%, 6/1/30<sup>(1)</sup> | 3200000 | 3078721 |
| DaVita, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 125000 | 114691 |
| DaVita, Inc., 6.875%, 9/1/32<sup>(1)</sup> | 150000 | 153795 |
| DaVita, Inc., 6.75%, 7/15/33<sup>(1)</sup> | 875000 | 890853 |
| Encompass Health Corp., 4.75%, 2/1/30 | 1890000 | 1850269 |
| Global Medical Response, Inc., 7.375%, 10/1/32<sup>(1)</sup> | 400000 | 415718 |
| IQVIA, Inc., 6.50%, 5/15/30<sup>(1)</sup> | 775000 | 791735 |
| IQVIA, Inc., 6.25%, 6/1/32<sup>(1)</sup> | 1125000 | 1143834 |
| LifePoint Health, Inc., 5.375%, 1/15/29<sup>(1)</sup> | 1175000 | 1134049 |
| LifePoint Health, Inc., 11.00%, 10/15/30<sup>(1)</sup> | 1175000 | 1265146 |
| LifePoint Health, Inc., 8.375%, 2/15/32<sup>(1)</sup> | 850000 | 908346 |
| LifePoint Health, Inc., 10.00%, 6/1/32<sup>(1)</sup> | 1575000 | 1610406 |
| Molina Healthcare, Inc., 4.375%, 6/15/28<sup>(1)</sup> | 1478000 | 1430103 |
| Molina Healthcare, Inc., 3.875%, 11/15/30<sup>(1)</sup> | 925000 | 827630 |
| Molina Healthcare, Inc., 6.50%, 2/15/31<sup>(1)</sup> | 800000 | 787484 |
| Molina Healthcare, Inc., 3.875%, 5/15/32<sup>(1)</sup> | 325000 | 282539 |
| Molina Healthcare, Inc., 6.25%, 1/15/33<sup>(1)</sup> | 450000 | 436595 |
| Radiology Partners, Inc., 8.50%, 7/15/32<sup>(1)</sup> | 600000 | 609072 |
| Select Medical Corp., 6.25%, 12/1/32<sup>(1)</sup> | 900000 | 858625 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> | 1775000 | 1745576 |
| Team Health Holdings, Inc., 8.375%, 6/30/28<sup>(1)</sup> | 450000 | 444551 |
| TEAM Services Holding, Inc., 9.00%, 2/15/33<sup>(1)</sup> | 500000 | 490647 |
| Tenet Healthcare Corp., 5.125%, 11/1/27 | 3550000 | 3548691 |
| Tenet Healthcare Corp., 4.625%, 6/15/28 | 504000 | 499816 |
| Tenet Healthcare Corp., 6.125%, 10/1/28 | 3203000 | 3212287 |
| Tenet Healthcare Corp., 4.25%, 6/1/29 | 2150000 | 2086094 |
| Tenet Healthcare Corp., 4.375%, 1/15/30 | 425000 | 411896 |
| Tenet Healthcare Corp., 6.125%, 6/15/30 | 3600000 | 3627907 |
| Tenet Healthcare Corp., 6.75%, 5/15/31 | 1775000 | 1815342 |
| Tenet Healthcare Corp., 5.50%, 11/15/32<sup>(1)</sup> | 2335000 | 2315075 |
| Tenet Healthcare Corp., 6.00%, 11/15/33<sup>(1)</sup> | 600000 | 607582 |
| U.S. Acute Care Solutions LLC, 9.75%, 5/15/29<sup>(1)</sup> | 1550000 | 1499312 |
|  |  | 61679784 |
| **Health Care REITs — 0.0%** |  |  |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(1)</sup> | 350000 | 353445 |
| **Health Care Technology — 0.4%** |  |  |
| AthenaHealth Group, Inc., 6.50%, 2/15/30<sup>(1)</sup> | 7157000 | 6725388 |
| **Hotel & Resort REITs — 0.1%** |  |  |
| Service Properties Trust, 4.95%, 2/15/27 | 119000 | 119507 |
| Service Properties Trust, 5.50%, 12/15/27 | 550000 | 551275 |
| Service Properties Trust, 0.00%, 9/30/28<sup>(1)(5)</sup> | 225000 | 204985 |
| Service Properties Trust, 4.95%, 10/1/29 | 1250000 | 1133482 |
| Service Properties Trust, 4.375%, 2/15/30 | 600000 | 533454 |
|  |  | 2542703 |
| **Hotels, Restaurants and Leisure — 7.0%** |  |  |
| 1011778 BC ULC/New Red Finance, Inc., 4.375%, 1/15/28<sup>(1)</sup> | 675000 | 666007 |
| 1011778 BC ULC/New Red Finance, Inc., 6.125%, 6/15/29<sup>(1)</sup> | 1250000 | 1270912 |
| 1011778 BC ULC/New Red Finance, Inc., 4.00%, 10/15/30<sup>(1)</sup> | 6350000 | 5971859 |
| Affinity Interactive, 6.875%, 12/15/27<sup>(1)</sup> | 1850000 | 1120200 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| BCPE Flavor Debt Merger Sub LLC & BCPE Flavor Issuer, Inc., 9.50%, 7/1/32<sup>(1)</sup> | $1425000 | $1293903 |
| Boyd Gaming Corp., 4.75%, 12/1/27 | 575000 | 569341 |
| Boyd Gaming Corp., 4.75%, 6/15/31<sup>(1)</sup> | 3271000 | 3112909 |
| Boyne USA, Inc., 4.75%, 5/15/29<sup>(1)</sup> | 575000 | 558038 |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 2151000 | 2069972 |
| Carnival Corp., 6.65%, 1/15/28 | 775000 | 794427 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)</sup> | 1075000 | 1067697 |
| Carnival Corp., 7.00%, 8/15/29<sup>(1)</sup> | 725000 | 752464 |
| Carnival Corp., 5.875%, 6/15/31<sup>(1)</sup> | 1850000 | 1873904 |
| Carnival Corp., 5.75%, 8/1/32<sup>(1)</sup> | 3700000 | 3703422 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 3825000 | 3865277 |
| Churchill Downs, Inc., 5.50%, 4/1/27<sup>(1)</sup> | 1725000 | 1723741 |
| Churchill Downs, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 350000 | 345474 |
| Churchill Downs, Inc., 5.75%, 4/1/30<sup>(1)</sup> | 1260000 | 1246717 |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 1/15/30<sup>(1)</sup> | 2500000 | 2337043 |
| Full House Resorts, Inc., 8.25%, 2/15/28<sup>(1)</sup> | 2225000 | 2030312 |
| GPS Hospitality Holding Co. LLC/GPS Finco, Inc., 7.00%, 8/15/28<sup>(1)(2)(3)</sup> | 2650000 | 1298500 |
| Hilton Domestic Operating Co., Inc., 3.75%, 5/1/29<sup>(1)</sup> | 525000 | 502808 |
| Hilton Domestic Operating Co., Inc., 4.00%, 5/1/31<sup>(1)</sup> | 4775000 | 4485294 |
| Hilton Domestic Operating Co., Inc., 5.875%, 3/15/33<sup>(1)</sup> | 1875000 | 1887516 |
| Hilton Domestic Operating Co., Inc., 5.75%, 9/15/33<sup>(1)</sup> | 1450000 | 1444599 |
| Hilton Domestic Operating Co., Inc., 5.50%, 3/31/34<sup>(1)</sup> | 1025000 | 1002206 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 5.00%, 6/1/29<sup>(1)</sup> | 2250000 | 2137747 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 4.875%, 7/1/31<sup>(1)</sup> | 2650000 | 2393546 |
| Jacobs Entertainment, Inc., 6.75%, 2/15/29<sup>(1)</sup> | 2325000 | 2175874 |
| Life Time, Inc., 6.00%, 11/15/31<sup>(1)</sup> | 2175000 | 2193396 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 625000 | 637422 |
| Light & Wonder International, Inc., 6.25%, 10/1/33<sup>(1)</sup> | 350000 | 343164 |
| Lindblad Expeditions LLC, 7.00%, 9/15/30<sup>(1)</sup> | 750000 | 766197 |
| Marriott Ownership Resorts, Inc., 4.50%, 6/15/29<sup>(1)</sup> | 450000 | 427004 |
| Marriott Ownership Resorts, Inc., 6.50%, 10/1/33<sup>(1)</sup> | 1475000 | 1403858 |
| Melco Resorts Finance Ltd., 5.375%, 12/4/29<sup>(1)</sup> | 1000000 | 961328 |
| Melco Resorts Finance Ltd., 7.625%, 4/17/32<sup>(1)</sup> | 1400000 | 1421876 |
| Melco Resorts Finance Ltd., 6.50%, 9/24/33<sup>(1)</sup> | 1200000 | 1152817 |
| Merlin Entertainments Group U.S. Holdings, Inc., 7.375%, 2/15/31<sup>(1)</sup> | 550000 | 459432 |
| MGM China Holdings Ltd., 5.875%, 5/15/26<sup>(1)</sup> | 500000 | 498007 |
| MGM China Holdings Ltd., 4.75%, 2/1/27<sup>(1)</sup> | 1225000 | 1211531 |
| MGM Resorts International, 5.50%, 4/15/27 | 389000 | 389994 |
| MGM Resorts International, 6.50%, 4/15/32 | 2250000 | 2269867 |
| Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., 4.875%, 5/1/29<sup>(1)</sup> | 975000 | 946110 |
| Motion Bondco DAC, 6.625%, 11/15/27<sup>(1)</sup> | 975000 | 937680 |
| Motion Finco SARL, 8.375%, 2/15/32<sup>(1)</sup> | 1400000 | 1158353 |
| NCL Corp. Ltd., 7.75%, 2/15/29<sup>(1)</sup> | 2175000 | 2265748 |
| NCL Corp. Ltd., 5.875%, 1/15/31<sup>(1)</sup> | 325000 | 315954 |
| NCL Corp. Ltd., 6.75%, 2/1/32<sup>(1)</sup> | 1625000 | 1613857 |
| NCL Corp. Ltd., 6.25%, 9/15/33<sup>(1)</sup> | 250000 | 242758 |
| NCL Finance Ltd., 6.125%, 3/15/28<sup>(1)</sup> | 1825000 | 1841584 |
| Penn Entertainment, Inc., 4.125%, 7/1/29<sup>(1)</sup> | 3175000 | 2971112 |
| Penn Entertainment, Inc., 6.75%, 4/1/31<sup>(1)</sup> | 875000 | 850797 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.625%, 9/1/29<sup>(1)</sup> | 1735000 | 1060519 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.875%, 9/1/31<sup>(1)</sup> | 1825000 | 1006031 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Royal Caribbean Cruises Ltd., 5.375%, 7/15/27<sup>(1)</sup> | $2450000 | $2459525 |
| Royal Caribbean Cruises Ltd., 5.625%, 9/30/31<sup>(1)</sup> | 2300000 | 2323238 |
| Royal Caribbean Cruises Ltd., 6.25%, 3/15/32<sup>(1)</sup> | 1500000 | 1533857 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 2320000 | 2343750 |
| SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29<sup>(1)</sup> | 1825000 | 1744224 |
| Six Flags Entertainment Corp., 7.25%, 5/15/31<sup>(1)</sup> | 300000 | 289175 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., 6.50%, 10/1/28 | 1500000 | 1498468 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp., 5.25%, 7/15/29 | 800000 | 765667 |
| Six Flags Entertainment Corp./Canada's Wonderland Co./Millennium Operations LLC, 8.625%, 1/15/32<sup>(1)</sup> | 3048000 | 3055005 |
| Station Casinos LLC, 4.50%, 2/15/28<sup>(1)</sup> | 475000 | 465822 |
| Station Casinos LLC, 4.625%, 12/1/31<sup>(1)</sup> | 700000 | 654283 |
| Studio City Finance Ltd., 5.00%, 1/15/29<sup>(1)</sup> | 1275000 | 1196681 |
| TKC Holdings, Inc., 8.50%, 8/15/30<sup>(1)</sup> | 1525000 | 1538794 |
| TKC Holdings, Inc., 12.00%, 2/15/31<sup>(1)</sup> | 1475000 | 1522564 |
| Travel & Leisure Co., 6.625%, 7/31/26<sup>(1)</sup> | 1025000 | 1026474 |
| Travel & Leisure Co., 4.625%, 3/1/30<sup>(1)</sup> | 600000 | 572808 |
| Travel & Leisure Co., 6.125%, 9/1/33<sup>(1)</sup> | 1100000 | 1086525 |
| Viking Cruises Ltd., 7.00%, 2/15/29<sup>(1)</sup> | 1500000 | 1503516 |
| Viking Cruises Ltd., 9.125%, 7/15/31<sup>(1)</sup> | 1700000 | 1794316 |
| Viking Cruises Ltd., 5.875%, 10/15/33<sup>(1)</sup> | 567000 | 560211 |
| Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29<sup>(1)</sup> | 1375000 | 1373665 |
| VOC Escrow Ltd., 5.00%, 2/15/28<sup>(1)</sup> | 1600000 | 1594172 |
| Wyndham Hotels & Resorts, Inc., 5.625%, 3/1/33<sup>(1)</sup> | 775000 | 763334 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 1375000 | 1370796 |
| Wynn Macau Ltd., 5.625%, 8/26/28<sup>(1)</sup> | 1000000 | 983039 |
| Wynn Macau Ltd., 5.125%, 12/15/29<sup>(1)</sup> | 1800000 | 1727408 |
| Wynn Macau Ltd., 6.75%, 2/15/34<sup>(1)</sup> | 2550000 | 2490900 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 5.125%, 10/1/29<sup>(1)</sup> | 2503000 | 2471928 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.125%, 2/15/31<sup>(1)</sup> | 400000 | 419518 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 6.25%, 3/15/33<sup>(1)</sup> | 1325000 | 1312564 |
| Yum! Brands, Inc., 5.375%, 4/1/32 | 3300000 | 3276633 |
|  |  | 128766965 |
| **Household Durables — 2.5%** |  |  |
| Adams Homes, Inc., 9.25%, 10/15/28<sup>(1)</sup> | 4875000 | 5038478 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 4.625%, 8/1/29<sup>(1)</sup> | 700000 | 661943 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 4.625%, 4/1/30<sup>(1)</sup> | 1850000 | 1718659 |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 1225000 | 1183614 |
| Beazer Homes USA, Inc., 5.875%, 10/15/27 | 425000 | 423344 |
| Beazer Homes USA, Inc., 7.25%, 10/15/29 | 2425000 | 2425001 |
| Beazer Homes USA, Inc., 7.50%, 3/15/31<sup>(1)</sup> | 875000 | 860643 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 5.00%, 6/15/29<sup>(1)</sup> | 1425000 | 1353373 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.875%, 2/15/30<sup>(1)</sup> | 400000 | 367751 |
| Century Communities, Inc., 3.875%, 8/15/29<sup>(1)</sup> | 1325000 | 1244610 |
| Century Communities, Inc., 6.625%, 9/15/33<sup>(1)</sup> | 1150000 | 1128059 |
| Dream Finders Homes, Inc., 8.25%, 8/15/28<sup>(1)</sup> | 1450000 | 1474699 |
| Dream Finders Homes, Inc., 6.875%, 9/15/30<sup>(1)</sup> | 775000 | 742369 |
| Empire Communities Corp., 9.75%, 5/1/29<sup>(1)</sup> | 1150000 | 1156146 |
| Installed Building Products, Inc., 5.625%, 2/1/34<sup>(1)</sup> | 500000 | 489148 |
| K Hovnanian Enterprises, Inc., 8.00%, 4/1/31<sup>(1)</sup> | 475000 | 470288 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 700000 | 693040 |
| K Hovnanian Enterprises, Inc., 5.00%, 2/1/40<sup>(1)</sup> | 26000 | 16921 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| KB Home, 7.25%, 7/15/30 | $800000 | $815886 |
| KB Home, 4.00%, 6/15/31 | 1775000 | 1638988 |
| LGI Homes, Inc., 8.75%, 12/15/28<sup>(1)</sup> | 1250000 | 1279696 |
| LGI Homes, Inc., 4.00%, 7/15/29<sup>(1)</sup> | 700000 | 624241 |
| LGI Homes, Inc., 7.00%, 11/15/32<sup>(1)</sup> | 775000 | 719791 |
| Mattamy Group Corp., 4.625%, 3/1/30<sup>(1)</sup> | 1325000 | 1260831 |
| Newell Brands, Inc., 6.375%, 9/15/27 | 800000 | 806411 |
| Newell Brands, Inc., 8.50%, 6/1/28<sup>(1)</sup> | 425000 | 438919 |
| Newell Brands, Inc., 6.625%, 9/15/29 | 900000 | 879349 |
| Newell Brands, Inc., 6.375%, 5/15/30 | 750000 | 720532 |
| Newell Brands, Inc., 6.625%, 5/15/32 | 575000 | 550867 |
| Newell Brands, Inc., 7.375%, 4/1/36 | 2175000 | 2004538 |
| Newell Brands, Inc., 7.50%, 4/1/46 | 625000 | 502238 |
| Risewell Homes, Inc., 9.25%, 10/1/29<sup>(1)</sup> | 650000 | 657408 |
| Shea Homes LP/Shea Homes Funding Corp., 4.75%, 2/15/28 | 1025000 | 1008258 |
| Shea Homes LP/Shea Homes Funding Corp., 4.75%, 4/1/29 | 1775000 | 1720304 |
| Somnigroup International, Inc., 4.00%, 4/15/29<sup>(1)</sup> | 425000 | 409002 |
| Somnigroup International, Inc., 3.875%, 10/15/31<sup>(1)</sup> | 725000 | 659756 |
| STL Holding Co. LLC, 8.75%, 2/15/29<sup>(1)</sup> | 1125000 | 1163194 |
| SWF Holdings I Corp., 6.50%, 10/1/29<sup>(1)</sup> | 950000 | 180500 |
| TopBuild Corp., 4.125%, 2/15/32<sup>(1)</sup> | 750000 | 692172 |
| Tri Pointe Homes, Inc., 5.25%, 6/1/27 | 500000 | 499793 |
| Whirlpool Corp., 4.75%, 2/26/29 | 250000 | 239806 |
| Whirlpool Corp., 6.125%, 6/15/30 | 875000 | 855038 |
| Whirlpool Corp., 4.70%, 5/14/32 | 225000 | 195556 |
| Whirlpool Corp., 5.50%, 3/1/33 | 522000 | 468778 |
| Whirlpool Corp., 6.50%, 6/15/33 | 1025000 | 972349 |
| Whirlpool Corp., 5.15%, 3/1/43 | 1300000 | 979660 |
| Whirlpool Corp., 4.50%, 6/1/46 | 743000 | 490597 |
| Whirlpool Corp., 4.60%, 5/15/50 | 300000 | 199910 |
|  |  | 45082454 |
| **Household Products — 0.1%** |  |  |
| Central Garden & Pet Co., 4.125%, 10/15/30 | 200000 | 188290 |
| Central Garden & Pet Co., 4.125%, 4/30/31<sup>(1)</sup> | 900000 | 839355 |
|  |  | 1027645 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |
| AES Corp., VRN, 7.60%, 1/15/55 | 1315000 | 1305063 |
| AES Corp., VRN, 6.95%, 7/15/55 | 500000 | 466990 |
| Clearway Energy Operating LLC, 5.75%, 1/15/34<sup>(1)</sup> | 900000 | 885056 |
| Lightning Power LLC, 7.25%, 8/15/32<sup>(1)</sup> | 2425000 | 2522601 |
| TerraForm Power Operating LLC, 5.00%, 1/31/28<sup>(1)</sup> | 280000 | 277058 |
| TerraForm Power Operating LLC, 4.75%, 1/15/30<sup>(1)</sup> | 1129000 | 1081920 |
| TransAlta Corp., 5.875%, 2/1/34 | 1275000 | 1270275 |
|  |  | 7808963 |
| **Insurance — 1.3%** |  |  |
| Acrisure LLC/Acrisure Finance, Inc., 8.25%, 2/1/29<sup>(1)</sup> | 1700000 | 1681830 |
| Acrisure LLC/Acrisure Finance, Inc., 4.25%, 2/15/29<sup>(1)</sup> | 1575000 | 1487847 |
| Acrisure LLC/Acrisure Finance, Inc., 8.50%, 6/15/29<sup>(1)</sup> | 1500000 | 1487152 |
| Acrisure LLC/Acrisure Finance, Inc., 6.00%, 8/1/29<sup>(1)</sup> | 565000 | 531100 |
| Acrisure LLC/Acrisure Finance, Inc., 7.50%, 11/6/30<sup>(1)</sup> | 2250000 | 2261990 |
| Acrisure LLC/Acrisure Finance, Inc., 6.75%, 7/1/32<sup>(1)</sup> | 200000 | 192919 |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.50%, 10/1/31<sup>(1)</sup> | 300000 | 294959 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 7.375%, 10/1/32<sup>(1)</sup> | $1244000 | $1233676 |
| Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, Inc., 7.50%, 7/15/33<sup>(1)</sup> | 375000 | 356030 |
| APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC, 7.875%, 11/1/29<sup>(1)</sup> | 1675000 | 1516168 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.00%, 12/31/32<sup>(1)</sup> | 1150000 | 1194031 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.375%, 2/1/34<sup>(1)</sup> | 2475000 | 2404642 |
| Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance, 7.125%, 5/15/31<sup>(1)</sup> | 1850000 | 1860581 |
| Genworth Holdings, Inc., VRN, 5.92%, (3-month SOFR plus 2.26%), 11/15/66 | 250000 | 203333 |
| Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC, 8.125%, 2/15/32<sup>(1)</sup> | 800000 | 750292 |
| HUB International Ltd., 5.625%, 12/1/29<sup>(1)</sup> | 975000 | 946618 |
| HUB International Ltd., 7.25%, 6/15/30<sup>(1)</sup> | 1000000 | 1024979 |
| MBIA Insurance Corp., 15.19%, 1/15/33<sup>(1)(2)(3)</sup> | 125000 | 406 |
| Nassau Cos., of New York, 7.875%, 7/15/30<sup>(1)</sup> | 1400000 | 1280109 |
| Panther Escrow Issuer LLC, 7.125%, 6/1/31<sup>(1)</sup> | 1675000 | 1681472 |
| Ryan Specialty LLC, 5.875%, 8/1/32<sup>(1)</sup> | 1425000 | 1409567 |
|  |  | 23799701 |
| **Interactive Media and Services — 0.3%** |  |  |
| Alphabet, Inc., 5.65%, 2/15/56 | 400000 | 398999 |
| Arches Buyer, Inc., 4.25%, 6/1/28<sup>(1)</sup> | 1400000 | 1353595 |
| Snap, Inc., 6.875%, 3/1/33<sup>(1)</sup> | 4300000 | 4063888 |
|  |  | 5816482 |
| **IT Services — 0.2%** |  |  |
| ASGN, Inc., 4.625%, 5/15/28<sup>(1)</sup> | 2133000 | 2066852 |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 275000 | 267469 |
| CoreWeave, Inc., 9.00%, 2/1/31<sup>(1)</sup> | 1450000 | 1381515 |
|  |  | 3715836 |
| **Leisure Products — 0.2%** |  |  |
| Acushnet Co., 5.625%, 12/1/33<sup>(1)</sup> | 750000 | 746071 |
| MajorDrive Holdings IV LLC, 6.375%, 6/1/29<sup>(1)</sup> | 2375000 | 1765611 |
| Mattel, Inc., 5.45%, 11/1/41 | 525000 | 476302 |
|  |  | 2987984 |
| **Life Sciences Tools and Services — 0.1%** |  |  |
| Charles River Laboratories International, Inc., 4.25%, 5/1/28<sup>(1)</sup> | 550000 | 537962 |
| Charles River Laboratories International, Inc., 4.00%, 3/15/31<sup>(1)</sup> | 758000 | 705711 |
|  |  | 1243673 |
| **Machinery — 0.6%** |  |  |
| Allison Transmission, Inc., 4.75%, 10/1/27<sup>(1)</sup> | 225000 | 223735 |
| Allison Transmission, Inc., 3.75%, 1/30/31<sup>(1)</sup> | 1200000 | 1117813 |
| Allison Transmission, Inc., 5.875%, 12/1/33<sup>(1)</sup> | 1125000 | 1118716 |
| Columbus McKinnon Corp., 7.125%, 2/1/33<sup>(1)</sup> | 850000 | 850404 |
| Esab Corp., 5.625%, 4/1/31<sup>(1)</sup> | 1025000 | 1034748 |
| JB Poindexter & Co., Inc., 8.75%, 12/15/31<sup>(1)</sup> | 2034000 | 2064144 |
| Manitowoc Co., Inc., 9.25%, 10/1/31<sup>(1)</sup> | 875000 | 914837 |
| Terex Corp., 5.00%, 5/15/29<sup>(1)</sup> | 2150000 | 2119611 |
| Trinity Industries, Inc., 7.75%, 7/15/28<sup>(1)</sup> | 2075000 | 2128242 |
|  |  | 11572250 |
| **Media — 9.2%** |  |  |
| Advantage Sales & Marketing, Inc., 9.00%, 11/15/30<sup>(1)</sup> | 378708 | 282137 |
| Altice Financing SA, 9.625%, 7/15/27<sup>(1)</sup> | 1400000 | 1040798 |
| Altice Financing SA, 5.00%, 1/15/28<sup>(1)</sup> | 2500000 | 1758205 |
| AMC Networks, Inc., 4.25%, 2/15/29 | 534000 | 450473 |
| AMC Networks, Inc., 10.50%, 7/15/32<sup>(1)</sup> | 1092000 | 1078829 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 412000 | 411806 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.375%, 6/1/29<sup>(1)</sup> | $2125000 | $2097104 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 6.375%, 9/1/29<sup>(1)</sup> | 4225000 | 4240671 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 2/1/31<sup>(1)</sup> | 1008000 | 919381 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 2/1/32<sup>(1)</sup> | 8875000 | 8031538 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 5/1/32 | 4525000 | 4046189 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.00%, 2/1/33<sup>(1)</sup> | 2875000 | 2885779 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 6/1/33<sup>(1)</sup> | 4875000 | 4247751 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.25%, 1/15/34<sup>(1)</sup> | 4650000 | 3982370 |
| Charter Communications Operating LLC/Charter Communications Operating Capital, 6.48%, 10/23/45 | 150000 | 138427 |
| Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28<sup>(1)</sup> | 3930000 | 3951340 |
| Clear Channel Outdoor Holdings, Inc., 7.50%, 6/1/29<sup>(1)</sup> | 1550000 | 1557432 |
| Clear Channel Outdoor Holdings, Inc., 7.875%, 4/1/30<sup>(1)</sup> | 1700000 | 1780254 |
| Clear Channel Outdoor Holdings, Inc., 7.125%, 2/15/31<sup>(1)</sup> | 425000 | 445532 |
| CSC Holdings LLC, 5.50%, 4/15/27<sup>(1)</sup> | 3100000 | 2692332 |
| CSC Holdings LLC, 5.375%, 2/1/28<sup>(1)</sup> | 1450000 | 1073944 |
| CSC Holdings LLC, 7.50%, 4/1/28<sup>(1)</sup> | 1200000 | 661727 |
| CSC Holdings LLC, 11.25%, 5/15/28<sup>(1)</sup> | 1000000 | 818104 |
| CSC Holdings LLC, 11.75%, 1/31/29<sup>(1)</sup> | 3025000 | 2189404 |
| CSC Holdings LLC, 6.50%, 2/1/29<sup>(1)</sup> | 2775000 | 1771879 |
| CSC Holdings LLC, 5.75%, 1/15/30<sup>(1)</sup> | 2048000 | 779635 |
| CSC Holdings LLC, 4.125%, 12/1/30<sup>(1)</sup> | 1100000 | 661318 |
| CSC Holdings LLC, 4.625%, 12/1/30<sup>(1)</sup> | 2865000 | 1014188 |
| CSC Holdings LLC, 3.375%, 2/15/31<sup>(1)</sup> | 1000000 | 588558 |
| CSC Holdings LLC, 4.50%, 11/15/31<sup>(1)</sup> | 2175000 | 1292817 |
| CSC Holdings LLC, 5.00%, 11/15/31<sup>(1)</sup> | 2175000 | 791621 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 1875000 | 1873172 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 744000 | 741132 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27<sup>(1)</sup> | 769000 | 768663 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 10.00%, 2/15/31<sup>(1)</sup> | 7034000 | 7186070 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 575000 | 563644 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 3450000 | 3334169 |
| Discovery Communications LLC, 3.625%, 5/15/30 | 2575000 | 2397262 |
| Discovery Communications LLC, 5.00%, 9/20/37 | 475000 | 344026 |
| Discovery Communications LLC, 6.35%, 6/1/40 | 250000 | 184455 |
| DISH DBS Corp., 7.75%, 7/1/26 | 2320000 | 2314924 |
| DISH DBS Corp., 5.25%, 12/1/26<sup>(1)</sup> | 2950000 | 2926395 |
| DISH DBS Corp., 7.375%, 7/1/28 | 1225000 | 1189716 |
| DISH DBS Corp., 5.75%, 12/1/28<sup>(1)</sup> | 3200000 | 3096952 |
| DISH DBS Corp., 5.125%, 6/1/29 | 2150000 | 1923727 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(1)</sup> | 4450000 | 4587015 |
| EchoStar Corp., 10.75%, 11/30/29 | 5750000 | 6214978 |
| EchoStar Corp., 6.75%, 11/30/30 | 3884578 | 3927339 |
| EW Scripps Co., 9.875%, 8/15/30<sup>(1)</sup> | 650000 | 631633 |
| Gray Media, Inc., 4.75%, 10/15/30<sup>(1)</sup> | 1577000 | 1218527 |
| Gray Media, Inc., 5.375%, 11/15/31<sup>(1)</sup> | 3867000 | 2874515 |
| Gray Media, Inc., 9.625%, 7/15/32<sup>(1)</sup> | 1225000 | 1226061 |
| Gray Media, Inc., 7.25%, 8/15/33<sup>(1)</sup> | 850000 | 857171 |
| iHeartCommunications, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 1825000 | 1643520 |
| iHeartCommunications, Inc., 9.125%, 5/1/29<sup>(1)</sup> | 2748813 | 2498960 |
| iHeartCommunications, Inc., 10.875%, 5/1/30<sup>(1)</sup> | 2970000 | 1906369 |
| iHeartCommunications, Inc., 7.75%, 8/15/30<sup>(1)</sup> | 2089000 | 1665187 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| iHeartCommunications, Inc., 7.00%, 1/15/31<sup>(1)</sup> | $549200 | $421511 |
| Lamar Media Corp., 4.00%, 2/15/30 | 775000 | 740120 |
| Lamar Media Corp., 5.375%, 11/1/33<sup>(1)</sup> | 775000 | 759197 |
| LCPR Senior Secured Financing DAC, 6.75%, 10/15/27<sup>(1)</sup> | 200000 | 135437 |
| LCPR Senior Secured Financing DAC, 5.125%, 7/15/29<sup>(1)</sup> | 550000 | 358204 |
| Liberty Interactive LLC, 8.25%, 2/1/30<sup>(2)</sup> | 750000 | 29783 |
| McGraw-Hill Education, Inc., 8.00%, 8/1/29<sup>(1)</sup> | 1275000 | 1274014 |
| McGraw-Hill Education, Inc., 7.375%, 9/1/31<sup>(1)</sup> | 650000 | 663980 |
| Midcontinent Communications, 8.00%, 8/15/32<sup>(1)</sup> | 950000 | 886003 |
| News Corp., 5.125%, 2/15/32<sup>(1)</sup> | 1100000 | 1075978 |
| Nexstar Media, Inc., 6.50%, 9/15/33<sup>(1)</sup> | 3725000 | 3755634 |
| Nexstar Media, Inc., 7.25%, 4/15/34<sup>(1)(4)</sup> | 629000 | 631539 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 5.00%, 8/15/27<sup>(1)</sup> | 3125000 | 3119633 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 4.25%, 1/15/29<sup>(1)</sup> | 1733000 | 1671964 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 4.625%, 3/15/30<sup>(1)</sup> | 1875000 | 1810174 |
| Paramount Global, 2.90%, 1/15/27 | 38000 | 37363 |
| Paramount Global, 3.375%, 2/15/28 | 670000 | 649506 |
| Paramount Global, 4.20%, 6/1/29 | 843000 | 805267 |
| Paramount Global, 7.875%, 7/30/30 | 350000 | 365522 |
| Paramount Global, 4.95%, 1/15/31 | 3315000 | 3072038 |
| Paramount Global, 4.20%, 5/19/32 | 379000 | 325073 |
| Paramount Global, 6.875%, 4/30/36 | 400000 | 351087 |
| Scripps Escrow II, Inc., 5.375%, 1/15/31<sup>(1)</sup> | 625000 | 461245 |
| Sinclair Television Group, Inc., 5.50%, 3/1/30<sup>(1)</sup> | 275000 | 238563 |
| Sinclair Television Group, Inc., 4.375%, 12/31/32<sup>(1)</sup> | 750000 | 584531 |
| Sinclair Television Group, Inc., 8.125%, 2/15/33<sup>(1)</sup> | 1150000 | 1170125 |
| Sirius XM Radio LLC, 3.125%, 9/1/26<sup>(1)</sup> | 825000 | 820306 |
| Sirius XM Radio LLC, 5.00%, 8/1/27<sup>(1)</sup> | 1271000 | 1269995 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 2125000 | 2052444 |
| Sirius XM Radio LLC, 5.50%, 7/1/29<sup>(1)</sup> | 1150000 | 1146898 |
| Sirius XM Radio LLC, 4.125%, 7/1/30<sup>(1)</sup> | 475000 | 445067 |
| Sirius XM Radio LLC, 3.875%, 9/1/31<sup>(1)</sup> | 2875000 | 2612882 |
| Sirius XM Radio LLC, 5.875%, 4/15/32<sup>(1)</sup> | 2300000 | 2287029 |
| Sunrise FinCo I BV, 4.875%, 7/15/31<sup>(1)</sup> | 3150000 | 3002312 |
| Univision Communications, Inc., 8.00%, 8/15/28<sup>(1)</sup> | 825000 | 837830 |
| Univision Communications, Inc., 4.50%, 5/1/29<sup>(1)</sup> | 2900000 | 2726599 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(1)</sup> | 825000 | 808991 |
| Univision Communications, Inc., 8.50%, 7/31/31<sup>(1)</sup> | 1850000 | 1860462 |
| Univision Communications, Inc., 9.375%, 8/1/32<sup>(1)</sup> | 2025000 | 2088504 |
| Virgin Media Finance PLC, 5.00%, 7/15/30<sup>(1)</sup> | 2450000 | 2010361 |
| Virgin Media O2 Vendor Financing Notes VI DAC, 8.50%, 3/15/33<sup>(1)</sup> | 2200000 | 1925235 |
| VZ Secured Financing BV, 5.00%, 1/15/32<sup>(1)</sup> | 750000 | 643628 |
| VZ Secured Financing BV, 7.50%, 1/15/33<sup>(1)</sup> | 900000 | 849149 |
| Ziggo Bond Co. BV, 5.125%, 2/28/30<sup>(1)</sup> | 400000 | 343608 |
|  |  | 168901916 |
| **Metals and Mining — 2.8%** |  |  |
| Alcoa Nederland Holding BV, 4.125%, 3/31/29<sup>(1)</sup> | 278000 | 270473 |
| Alcoa Nederland Holding BV, 7.125%, 3/15/31<sup>(1)</sup> | 2550000 | 2668083 |
| Algoma Steel, Inc., 9.125%, 4/15/29<sup>(1)</sup> | 1193000 | 1065019 |
| Alumina Pty. Ltd., 6.125%, 3/15/30<sup>(1)</sup> | 225000 | 229754 |
| Alumina Pty. Ltd., 6.375%, 9/15/32<sup>(1)</sup> | 275000 | 282691 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Arsenal AIC Parent LLC, 8.00%, 10/1/30<sup>(1)</sup> | $1525000 | $1589686 |
| Arsenal AIC Parent LLC, 11.50%, 10/1/31<sup>(1)</sup> | 1420000 | 1536088 |
| Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 7/15/26<sup>(1)</sup> | 1325000 | 1179626 |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29<sup>(1)</sup> | 1545000 | 1542691 |
| Capstone Copper Corp., 6.75%, 3/31/33<sup>(1)</sup> | 400000 | 397738 |
| Century Aluminum Co., 6.875%, 8/1/32<sup>(1)</sup> | 1950000 | 2013816 |
| Champion Iron Canada, Inc., 7.875%, 7/15/32<sup>(1)</sup> | 625000 | 649674 |
| Cleveland-Cliffs, Inc., 6.875%, 11/1/29<sup>(1)</sup> | 1975000 | 1976157 |
| Cleveland-Cliffs, Inc., 6.75%, 4/15/30<sup>(1)</sup> | 1350000 | 1317929 |
| Cleveland-Cliffs, Inc., 4.875%, 3/1/31<sup>(1)</sup> | 1000000 | 899183 |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 600000 | 599029 |
| Cleveland-Cliffs, Inc., 7.00%, 3/15/32<sup>(1)</sup> | 1815000 | 1758376 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 1450000 | 1419681 |
| Commercial Metals Co., 4.125%, 1/15/30 | 775000 | 738938 |
| Commercial Metals Co., 4.375%, 3/15/32 | 1400000 | 1295884 |
| Commercial Metals Co., 5.75%, 11/15/33<sup>(1)</sup> | 1075000 | 1064703 |
| Commercial Metals Co., 6.00%, 12/15/35<sup>(1)</sup> | 775000 | 764828 |
| Compass Minerals International, Inc., 8.00%, 7/1/30<sup>(1)</sup> | 825000 | 854342 |
| Constellium SE, 6.375%, 8/15/32<sup>(1)</sup> | 750000 | 758700 |
| First Quantum Minerals Ltd., 8.00%, 3/1/33<sup>(1)</sup> | 1475000 | 1539314 |
| First Quantum Minerals Ltd., 7.25%, 2/15/34<sup>(1)</sup> | 1125000 | 1146208 |
| First Quantum Minerals Ltd., 6.375%, 2/15/36<sup>(1)</sup> | 1400000 | 1347902 |
| Fortescue Treasury Pty. Ltd., 5.875%, 4/15/30<sup>(1)</sup> | 363000 | 367682 |
| Fortescue Treasury Pty. Ltd., 4.375%, 4/1/31<sup>(1)</sup> | 1763000 | 1667348 |
| Fortescue Treasury Pty. Ltd., 6.125%, 4/15/32<sup>(1)</sup> | 3075000 | 3144887 |
| Hudbay Minerals, Inc., 4.50%, 4/1/26<sup>(1)</sup> | 950000 | 950000 |
| IAMGOLD Corp., 5.75%, 10/15/28<sup>(1)</sup> | 475000 | 473066 |
| Infrabuild Australia Pty. Ltd., 14.50%, 11/15/28<sup>(1)</sup> | 400000 | 427710 |
| Kaiser Aluminum Corp., 4.50%, 6/1/31<sup>(1)</sup> | 1803000 | 1705064 |
| Kaiser Aluminum Corp., 5.875%, 3/1/34<sup>(1)</sup> | 1000000 | 983118 |
| Mineral Resources Ltd., 8.00%, 11/1/27<sup>(1)</sup> | 875000 | 886961 |
| Mineral Resources Ltd., 9.25%, 10/1/28<sup>(1)</sup> | 300000 | 311107 |
| Mineral Resources Ltd., 8.50%, 5/1/30<sup>(1)</sup> | 1392000 | 1432168 |
| Mineral Resources Ltd., 7.00%, 4/1/31<sup>(1)</sup> | 700000 | 715974 |
| Novelis Corp., 4.75%, 1/30/30<sup>(1)</sup> | 1650000 | 1562159 |
| Novelis Corp., 6.875%, 1/30/30<sup>(1)</sup> | 825000 | 832797 |
| Novelis Corp., 3.875%, 8/15/31<sup>(1)</sup> | 525000 | 468126 |
| Novelis Corp., 6.375%, 8/15/33<sup>(1)</sup> | 400000 | 392679 |
| Roller Bearing Co. of America, Inc., 4.375%, 10/15/29<sup>(1)</sup> | 2175000 | 2115917 |
| Taseko Mines Ltd., 8.25%, 5/1/30<sup>(1)</sup> | 1108000 | 1156541 |
| TMS International Corp., 6.25%, 4/15/29<sup>(1)</sup> | 725000 | 700415 |
|  |  | 51200232 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.5%** |  |  |
| Blackstone Mortgage Trust, Inc., 3.75%, 1/15/27<sup>(1)</sup> | 1875000 | 1844260 |
| Blackstone Mortgage Trust, Inc., 7.75%, 12/1/29<sup>(1)</sup> | 525000 | 551979 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 4.25%, 2/1/27<sup>(1)</sup> | 850000 | 840256 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 650000 | 672361 |
| Rithm Capital Corp., 8.00%, 4/1/29<sup>(1)</sup> | 2075000 | 2040411 |
| Rithm Capital Corp., 8.00%, 7/15/30<sup>(1)</sup> | 1075000 | 1038397 |
| Starwood Property Trust, Inc., 6.00%, 4/15/30<sup>(1)</sup> | 1888000 | 1885367 |
| Starwood Property Trust, Inc., 6.50%, 7/1/30<sup>(1)</sup> | 950000 | 970737 |
| Starwood Property Trust, Inc., 6.50%, 10/15/30<sup>(1)</sup> | 222000 | 225298 |
|  |  | 10069066 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 10.5%** | | |
| Aethon United BR LP/Aethon United Finance Corp., 7.50%, 10/1/29<sup>(1)</sup> | $1100000 | $1147905 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.375%, 6/15/29<sup>(1)</sup> | 750000 | 748023 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 6.625%, 2/1/32<sup>(1)</sup> | 646000 | 662527 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.75%, 10/15/33<sup>(1)</sup> | 1325000 | 1311215 |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.75%, 7/1/34<sup>(1)</sup> | 1400000 | 1380542 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 9.00%, 11/1/27<sup>(1)</sup> | 2350000 | 2751862 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 6.625%, 10/15/32<sup>(1)</sup> | 525000 | 532917 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., 6.625%, 7/15/33<sup>(1)</sup> | 800000 | 814266 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 1175000 | 1214509 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.25%, 7/15/32<sup>(1)</sup> | 400000 | 415779 |
| Breakwater Energy Holdings SARL, 9.25%, 11/15/30<sup>(1)</sup> | 2500000 | 2627797 |
| Buckeye Partners LP, 6.875%, 7/1/29<sup>(1)</sup> | 1550000 | 1596159 |
| Buckeye Partners LP, 6.75%, 2/1/30<sup>(1)</sup> | 550000 | 567917 |
| Buckeye Partners LP, 5.85%, 11/15/43 | 825000 | 747366 |
| California Resources Corp., 8.25%, 6/15/29<sup>(1)</sup> | 626000 | 655267 |
| California Resources Corp., 7.00%, 1/15/34<sup>(1)</sup> | 894000 | 901851 |
| Calumet Specialty Products Partners LP/Calumet Finance Corp., 9.75%, 2/15/31<sup>(1)</sup> | 225000 | 239166 |
| Chord Energy Corp., 6.00%, 10/1/30<sup>(1)</sup> | 475000 | 481584 |
| CITGO Petroleum Corp., 8.375%, 1/15/29<sup>(1)</sup> | 2100000 | 2169865 |
| CNX Resources Corp., 7.375%, 1/15/31<sup>(1)</sup> | 800000 | 822508 |
| CNX Resources Corp., 7.25%, 3/1/32<sup>(1)</sup> | 425000 | 438209 |
| CNX Resources Corp., 5.875%, 3/1/34<sup>(1)</sup> | 1075000 | 1047681 |
| Comstock Resources, Inc., 6.75%, 3/1/29<sup>(1)</sup> | 1633000 | 1613123 |
| Comstock Resources, Inc., 6.75%, 3/1/29<sup>(1)</sup> | 100000 | 98905 |
| Comstock Resources, Inc., 5.875%, 1/15/30<sup>(1)</sup> | 2690000 | 2606232 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 6/15/31<sup>(1)</sup> | 4350000 | 4244306 |
| Crescent Energy Finance LLC, 7.75%, 7/31/29<sup>(1)</sup> | 1100000 | 1108976 |
| Crescent Energy Finance LLC, 9.75%, 10/15/30<sup>(1)</sup> | 775000 | 833590 |
| Crescent Energy Finance LLC, 7.625%, 4/1/32<sup>(1)</sup> | 875000 | 888457 |
| Crescent Energy Finance LLC, 7.875%, 4/15/32<sup>(1)</sup> | 4488000 | 4588518 |
| Crescent Energy Finance LLC, 7.375%, 1/15/33<sup>(1)</sup> | 1725000 | 1725853 |
| Crescent Energy Finance LLC, 8.375%, 1/15/34<sup>(1)</sup> | 940000 | 983494 |
| CVR Energy, Inc., 7.50%, 2/15/31<sup>(1)</sup> | 1525000 | 1537683 |
| CVR Energy, Inc., 7.875%, 2/15/34<sup>(1)</sup> | 100000 | 100418 |
| DBR Land Holdings LLC, 6.25%, 12/1/30<sup>(1)</sup> | 200000 | 202624 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.125%, 6/1/28<sup>(1)</sup> | 1375000 | 1379173 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 8.625%, 3/15/29<sup>(1)</sup> | 3375000 | 3493999 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.375%, 6/30/33<sup>(1)</sup> | 1600000 | 1614355 |
| Energy Transfer LP, VRN, 7.125%, 10/1/54 | 1025000 | 1041757 |
| Energy Transfer LP, VRN, 6.50%, 2/15/56 | 1775000 | 1754790 |
| Energy Transfer LP, VRN, 6.75%, 2/15/56 | 1200000 | 1198184 |
| Expand Energy Corp., 5.875%, 2/1/29<sup>(1)</sup> | 1100000 | 1100742 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.875%, 4/15/30 | 1125000 | 1175440 |
| Genesis Energy LP/Genesis Energy Finance Corp., 7.875%, 5/15/32 | 2050000 | 2109593 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 5/15/33 | 2300000 | 2378113 |
| Genesis Energy LP/Genesis Energy Finance Corp., 6.75%, 3/15/34 | 450000 | 448182 |
| Global Partners LP/GLP Finance Corp., 7.125%, 7/1/33<sup>(1)</sup> | 1350000 | 1361871 |
| Golar LNG Ltd., 7.50%, 10/2/30<sup>(1)</sup> | 750000 | 759238 |
| Gulfport Energy Operating Corp., 6.75%, 9/1/29<sup>(1)</sup> | 625000 | 639981 |
| Harvest Midstream I LP, 7.50%, 9/1/28<sup>(1)</sup> | 1925000 | 1944733 |
| Harvest Midstream I LP, 7.50%, 5/15/32<sup>(1)</sup> | 1575000 | 1608555 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Hess Midstream Operations LP, 5.875%, 3/1/28<sup>(1)</sup> | $25000 | $25175 |
| Hess Midstream Operations LP, 5.125%, 6/15/28<sup>(1)</sup> | 370000 | 369098 |
| Hess Midstream Operations LP, 6.50%, 6/1/29<sup>(1)</sup> | 825000 | 843195 |
| Hess Midstream Operations LP, 5.50%, 10/15/30<sup>(1)</sup> | 848000 | 841700 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 11/1/28<sup>(1)</sup> | 600000 | 603251 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 4/15/30<sup>(1)</sup> | 900000 | 876603 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, 2/1/31<sup>(1)</sup> | 1650000 | 1604834 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 6.25%, 4/15/32<sup>(1)</sup> | 950000 | 920112 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 8.375%, 11/1/33<sup>(1)</sup> | 1650000 | 1722727 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 7.25%, 2/15/35<sup>(1)</sup> | 850000 | 848066 |
| Infinity Natural Resources LLC, 7.625%, 4/1/31<sup>(1)</sup> | 625000 | 628691 |
| ITT Holdings LLC, 6.50%, 8/1/29<sup>(1)</sup> | 526000 | 511842 |
| Kraken Oil & Gas Partners LLC, 7.625%, 8/15/29<sup>(1)</sup> | 3395000 | 3468851 |
| Long Ridge Energy LLC, 8.75%, 2/15/32<sup>(1)</sup> | 675000 | 708661 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.875%, 12/1/32<sup>(1)</sup> | 1700000 | 1750519 |
| Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 2/15/28<sup>(1)</sup> | 2825000 | 2894761 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 1625000 | 1643883 |
| Matador Resources Co., 6.25%, 4/15/33<sup>(1)</sup> | 2225000 | 2228504 |
| Matador Resources Co., 6.00%, 4/15/34<sup>(1)</sup> | 850000 | 845144 |
| Moss Creek Resources Holdings, Inc., 8.25%, 9/1/31<sup>(1)</sup> | 2125000 | 2125158 |
| Murphy Oil Corp., 6.00%, 10/1/32 | 1030000 | 1023759 |
| Murphy Oil Corp., 6.50%, 2/15/34 | 725000 | 716523 |
| New Fortress Energy, Inc., 6.50%, 9/30/26<sup>(1)(2)(3)</sup> | 1000000 | 135782 |
| NFE Financing LLC, 12.00%, 11/15/29<sup>(1)(2)(3)</sup> | 3675000 | 1665161 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.125%, 2/15/29<sup>(1)</sup> | 3010000 | 3102717 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.375%, 2/15/32<sup>(1)</sup> | 1875000 | 1933639 |
| Northern Oil & Gas, Inc., 8.75%, 6/15/31<sup>(1)</sup> | 1625000 | 1690682 |
| Northern Oil & Gas, Inc., 7.875%, 10/15/33<sup>(1)</sup> | 2050000 | 2122381 |
| Northriver Midstream Finance LP, 6.75%, 7/15/32<sup>(1)</sup> | 1575000 | 1580742 |
| NuStar Logistics LP, 6.375%, 10/1/30 | 1850000 | 1913819 |
| ONEOK, Inc., 5.60%, 4/1/44 | 1200000 | 1107100 |
| ONEOK, Inc., 5.05%, 4/1/45 | 300000 | 257579 |
| ONEOK, Inc., 5.45%, 6/1/47 | 1325000 | 1196243 |
| PBF Holding Co. LLC/PBF Finance Corp., 6.00%, 2/15/28 | 3724000 | 3709336 |
| PBF Holding Co. LLC/PBF Finance Corp., 9.875%, 3/15/30<sup>(1)</sup> | 550000 | 589894 |
| PBF Holding Co. LLC/PBF Finance Corp., 7.875%, 9/15/30<sup>(1)</sup> | 1225000 | 1258782 |
| Prairie Acquiror LP, 9.00%, 8/1/29<sup>(1)</sup> | 1275000 | 1321634 |
| Rockies Express Pipeline LLC, 4.95%, 7/15/29<sup>(1)</sup> | 700000 | 683035 |
| Rockies Express Pipeline LLC, 4.80%, 5/15/30<sup>(1)</sup> | 645000 | 618994 |
| Rockies Express Pipeline LLC, 6.875%, 4/15/40<sup>(1)</sup> | 1400000 | 1394731 |
| SM Energy Co., 8.375%, 7/1/28<sup>(1)</sup> | 975000 | 1002376 |
| SM Energy Co., 6.50%, 7/15/28 | 1300000 | 1304036 |
| SM Energy Co., 6.75%, 8/1/29<sup>(1)</sup> | 1250000 | 1269734 |
| SM Energy Co., 8.625%, 11/1/30<sup>(1)</sup> | 2925000 | 3087867 |
| SM Energy Co., 8.75%, 7/1/31<sup>(1)</sup> | 1662000 | 1738140 |
| SM Energy Co., 7.00%, 8/1/32<sup>(1)</sup> | 870000 | 889009 |
| SM Energy Co., 9.625%, 6/15/33<sup>(1)</sup> | 3029000 | 3348184 |
| SM Energy Co., 6.625%, 4/15/34<sup>(1)</sup> | 750000 | 748481 |
| South Bow Canadian Infrastructure Holdings Ltd., VRN, 7.50%, 3/1/55 | 1250000 | 1302292 |
| South Bow Canadian Infrastructure Holdings Ltd., VRN, 7.625%, 3/1/55 | 1075000 | 1107433 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 350000 | 359663 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Sunoco LP, 4.50%, 10/1/29<sup>(1)</sup> | $4425000 | $4278786 |
| Sunoco LP, 4.625%, 5/1/30<sup>(1)</sup> | 1325000 | 1276027 |
| Sunoco LP, 5.625%, 3/15/31<sup>(1)</sup> | 1050000 | 1045924 |
| Sunoco LP, 5.375%, 7/15/31<sup>(1)</sup> | 400000 | 397076 |
| Sunoco LP, 6.25%, 7/1/33<sup>(1)</sup> | 1550000 | 1557986 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 950000 | 940181 |
| Sunoco LP, 5.625%, 7/15/34<sup>(1)</sup> | 400000 | 394158 |
| Sunoco LP/Sunoco Finance Corp., 7.00%, 9/15/28<sup>(1)</sup> | 975000 | 997977 |
| Sunoco LP/Sunoco Finance Corp., 4.50%, 4/30/30 | 1675000 | 1615736 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 7.375%, 2/15/29<sup>(1)</sup> | 1100000 | 1132276 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 12/31/30<sup>(1)</sup> | 850000 | 846193 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 9/1/31<sup>(1)</sup> | 1175000 | 1160418 |
| Talos Production, Inc., 9.00%, 2/1/29<sup>(1)</sup> | 750000 | 781240 |
| Talos Production, Inc., 9.375%, 2/1/31<sup>(1)</sup> | 2335000 | 2475875 |
| Targa Resources Corp., 4.95%, 4/15/52 | 600000 | 502896 |
| Targa Resources Corp., 6.50%, 2/15/53 | 600000 | 616114 |
| Targa Resources Corp., 6.125%, 5/15/55 | 800000 | 784001 |
| Teine Energy Ltd., 6.875%, 4/15/29<sup>(1)</sup> | 1150000 | 1150399 |
| TransMontaigne Partners LLC, 8.50%, 6/15/30<sup>(1)</sup> | 875000 | 885243 |
| Venture Global Calcasieu Pass LLC, 6.25%, 1/15/30<sup>(1)</sup> | 750000 | 767521 |
| Venture Global Calcasieu Pass LLC, 4.125%, 8/15/31<sup>(1)</sup> | 1450000 | 1345746 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 3399000 | 3477911 |
| Venture Global LNG, Inc., 9.50%, 2/1/29<sup>(1)</sup> | 4325000 | 4678782 |
| Venture Global LNG, Inc., 7.00%, 1/15/30<sup>(1)</sup> | 225000 | 229851 |
| Venture Global LNG, Inc., 8.375%, 6/1/31<sup>(1)</sup> | 1325000 | 1378656 |
| Venture Global LNG, Inc., 9.875%, 2/1/32<sup>(1)</sup> | 2450000 | 2632471 |
| Venture Global Plaquemines LNG LLC, 6.125%, 12/15/30<sup>(1)</sup> | 2215000 | 2279182 |
| Venture Global Plaquemines LNG LLC, 7.50%, 5/1/33<sup>(1)</sup> | 950000 | 1044800 |
| Venture Global Plaquemines LNG LLC, 6.50%, 1/15/34<sup>(1)</sup> | 5625000 | 5867321 |
| Venture Global Plaquemines LNG LLC, 6.50%, 6/15/34<sup>(1)</sup> | 2675000 | 2786232 |
| Venture Global Plaquemines LNG LLC, 7.75%, 5/1/35<sup>(1)</sup> | 500000 | 560702 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 2450000 | 2596515 |
| Vermilion Energy, Inc., 6.875%, 5/1/30<sup>(1)</sup> | 1225000 | 1240113 |
| Vermilion Energy, Inc., 7.25%, 2/15/33<sup>(1)</sup> | 350000 | 353292 |
| Western Midstream Operating LP, 7.25%, 4/1/30<sup>(1)</sup> | 1000000 | 1053542 |
| Western Midstream Operating LP, 5.45%, 4/1/44 | 300000 | 267359 |
| Western Midstream Operating LP, 5.30%, 3/1/48 | 270000 | 228430 |
| Western Midstream Operating LP, 5.50%, 8/15/48 | 300000 | 259463 |
|  |  | 193342718 |
| **Paper and Forest Products — 0.1%** |  |  |
| Domtar Corp., 6.75%, 10/1/28<sup>(1)</sup> | 1138000 | 740969 |
| Magnera Corp., 4.75%, 11/15/29<sup>(1)</sup> | 421000 | 380511 |
| Magnera Corp., 7.25%, 11/15/31<sup>(1)</sup> | 275000 | 254844 |
| Mercer International, Inc., 12.875%, 10/1/28<sup>(1)</sup> | 225000 | 142327 |
| Mercer International, Inc., 5.125%, 2/1/29 | 525000 | 273585 |
|  |  | 1792236 |
| **Passenger Airlines — 0.9%** |  |  |
| Allegiant Travel Co., 7.25%, 8/15/27<sup>(1)</sup> | 598000 | 599081 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 1550000 | 1560018 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 252084 | 252431 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 4/20/29<sup>(1)</sup> | 5023000 | 4998740 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Avianca Midco 2 PLC, 9.50%, 1/28/31<sup>(1)</sup> | $400000 | $368000 |
| CHC Group LLC, 11.75%, 9/1/30<sup>(1)</sup> | 1800000 | 1753802 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 4221000 | 3994832 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 1075000 | 1087094 |
| United Airlines Holdings, Inc., 5.375%, 3/1/31 | 1636000 | 1604207 |
|  |  | 16218205 |
| **Personal Care Products — 0.2%** |  |  |
| BellRing Brands, Inc., 7.00%, 3/15/30<sup>(1)</sup> | 2950000 | 2952935 |
| **Pharmaceuticals — 1.7%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 10243000 | 10495889 |
| Amneal Pharmaceuticals LLC, 6.875%, 8/1/32<sup>(1)</sup> | 825000 | 850326 |
| Bausch Health Americas, Inc., 8.50%, 1/31/27<sup>(1)</sup> | 2485000 | 2463778 |
| Bausch Health Cos., Inc., 7.00%, 1/15/28<sup>(1)</sup> | 1488000 | 1301926 |
| Bausch Health Cos., Inc., 5.00%, 1/30/28<sup>(1)</sup> | 1350000 | 1142228 |
| Bausch Health Cos., Inc., 4.875%, 6/1/28<sup>(1)</sup> | 208000 | 190653 |
| Bausch Health Cos., Inc., 11.00%, 9/30/28<sup>(1)</sup> | 1492000 | 1523315 |
| Bausch Health Cos., Inc., 6.25%, 2/15/29<sup>(1)</sup> | 500000 | 375625 |
| Bausch Health Cos., Inc., 7.25%, 5/30/29<sup>(1)</sup> | 1075000 | 800966 |
| Bausch Health Cos., Inc., 5.25%, 1/30/30<sup>(1)</sup> | 1225000 | 792771 |
| Bausch Health Cos., Inc., 14.00%, 10/15/30<sup>(1)</sup> | 300000 | 288068 |
| Bausch Health Cos., Inc., 5.25%, 2/15/31<sup>(1)</sup> | 550000 | 335500 |
| Endo Finance Holdings LP, 8.50%, 4/15/31<sup>(1)</sup> | 400000 | 419140 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 4.125%, 4/30/28<sup>(1)</sup> | 2475000 | 2403060 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 5.125%, 4/30/31<sup>(1)</sup> | 3875000 | 3161941 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 6.75%, 5/15/34<sup>(1)</sup> | 1000000 | 892075 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, 7.875%, 5/15/34<sup>(1)</sup> | 600000 | 494732 |
| P&L Development LLC/PLD Finance Corp., 9.00% Cash plus 3.50% PIK, 5/15/29<sup>(1)</sup> | 784163 | 780415 |
| Paradigm Parent LLC & Paradigm Parent Co-Issuer, Inc., 8.75%, 4/17/32<sup>(1)</sup> | 225000 | 200112 |
| Perrigo Finance Unlimited Co., 6.125%, 9/30/32 | 750000 | 684961 |
| Prestige Brands, Inc., 5.125%, 1/15/28<sup>(1)</sup> | 800000 | 798802 |
| Prestige Brands, Inc., 3.75%, 4/1/31<sup>(1)</sup> | 925000 | 848474 |
|  |  | 31244757 |
| **Professional Services — 0.3%** |  |  |
| Amentum Holdings, Inc., 7.25%, 8/1/32<sup>(1)</sup> | 1025000 | 1061659 |
| AMN Healthcare, Inc., 4.00%, 4/15/29<sup>(1)</sup> | 2325000 | 2192569 |
| AMN Healthcare, Inc., 6.50%, 1/15/31<sup>(1)</sup> | 550000 | 539397 |
| CACI International, Inc., 6.375%, 6/15/33<sup>(1)</sup> | 1050000 | 1069547 |
| Concentra Health Services, Inc., 6.875%, 7/15/32<sup>(1)</sup> | 1500000 | 1552671 |
|  |  | 6415843 |
| **Real Estate Management and Development — 1.1%** |  |  |
| Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp., 7.00%, 4/15/30<sup>(1)</sup> | 4293600 | 4303050 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 5.75%, 1/15/29<sup>(1)</sup> | 2218000 | 2139751 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 5.25%, 4/15/30<sup>(1)</sup> | 1075000 | 1016545 |
| Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp., 9.75%, 4/15/30<sup>(1)</sup> | 1000000 | 1062409 |
| Arbor Realty SR, Inc., 8.50%, 12/15/28<sup>(1)</sup> | 650000 | 639066 |
| Arbor Realty SR, Inc., 7.875%, 7/15/30<sup>(1)</sup> | 1250000 | 1156646 |
| Cushman & Wakefield U.S. Borrower LLC, 6.75%, 5/15/28<sup>(1)</sup> | 800000 | 801699 |
| Cushman & Wakefield U.S. Borrower LLC, 8.875%, 9/1/31<sup>(1)</sup> | 600000 | 635928 |
| Five Point Operating Co. LP, 8.00%, 10/1/30<sup>(1)</sup> | 1250000 | 1247846 |
| Forestar Group, Inc., 5.00%, 3/1/28<sup>(1)</sup> | 1350000 | 1340158 |
| Howard Hughes Corp., 4.125%, 2/1/29<sup>(1)</sup> | 1625000 | 1538353 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Howard Hughes Corp., 5.875%, 3/1/32<sup>(1)</sup> | $525000 | $505738 |
| Howard Hughes Corp., 6.125%, 3/1/34<sup>(1)</sup> | 525000 | 504633 |
| Kennedy-Wilson, Inc., 4.75%, 2/1/30 | 2025000 | 2027116 |
| Velocity Commercial Capital LLC, 9.375%, 2/15/31<sup>(1)</sup> | 625000 | 625326 |
|  |  | 19544264 |
| **Semiconductors and Semiconductor Equipment — 0.5%** |  |  |
| Amkor Technology, Inc., 5.875%, 10/1/33<sup>(1)</sup> | 825000 | 822656 |
| ams-OSRAM AG, 12.25%, 3/30/29<sup>(1)</sup> | 450000 | 479010 |
| Kioxia Holdings Corp., 6.25%, 7/24/30<sup>(1)</sup> | 2000000 | 2034058 |
| Kioxia Holdings Corp., 6.625%, 7/24/33<sup>(1)</sup> | 875000 | 900134 |
| ON Semiconductor Corp., 3.875%, 9/1/28<sup>(1)</sup> | 1850000 | 1786227 |
| Qnity Electronics, Inc., 5.75%, 8/15/32<sup>(1)</sup> | 1225000 | 1227990 |
| Qnity Electronics, Inc., 6.25%, 8/15/33<sup>(1)</sup> | 1250000 | 1265484 |
| Synaptics, Inc., 4.00%, 6/15/29<sup>(1)</sup> | 1138000 | 1078553 |
|  |  | 9594112 |
| **Software — 0.9%** |  |  |
| Castle U.S. Holding Corp., 10.00%, 6/30/31<sup>(1)</sup> | 186000 | 40920 |
| Central Parent, Inc./CDK Global, Inc., 7.25%, 6/15/29<sup>(1)</sup> | 190000 | 136948 |
| Cloud Software Group, Inc., 6.50%, 3/31/29<sup>(1)</sup> | 7054000 | 6888621 |
| Cloud Software Group, Inc., 9.00%, 9/30/29<sup>(1)</sup> | 1927000 | 1860766 |
| Cloud Software Group, Inc., 8.25%, 6/30/32<sup>(1)</sup> | 200000 | 189847 |
| Gen Digital, Inc., 6.75%, 9/30/27<sup>(1)</sup> | 950000 | 951740 |
| Gen Digital, Inc., 7.125%, 9/30/30<sup>(1)</sup> | 1650000 | 1667140 |
| McAfee Corp., 7.375%, 2/15/30<sup>(1)</sup> | 375000 | 310232 |
| Open Text Corp., 3.875%, 2/15/28<sup>(1)</sup> | 1225000 | 1180599 |
| Open Text Corp., 3.875%, 12/1/29<sup>(1)</sup> | 700000 | 626342 |
| Open Text Holdings, Inc., 4.125%, 2/15/30<sup>(1)</sup> | 900000 | 804954 |
| Open Text Holdings, Inc., 4.125%, 12/1/31<sup>(1)</sup> | 630000 | 538115 |
| Rocket Software, Inc., 9.00%, 11/28/28<sup>(1)</sup> | 450000 | 449795 |
| SS&C Technologies, Inc., 6.50%, 6/1/32<sup>(1)</sup> | 860000 | 860575 |
| UKG, Inc., 6.875%, 2/1/31<sup>(1)</sup> | 925000 | 904808 |
|  |  | 17411402 |
| **Specialized REITs — 0.8%** |  |  |
| Iron Mountain, Inc., 5.25%, 3/15/28<sup>(1)</sup> | 2350000 | 2340858 |
| Iron Mountain, Inc., 5.00%, 7/15/28<sup>(1)</sup> | 1050000 | 1039401 |
| Iron Mountain, Inc., 5.25%, 7/15/30<sup>(1)</sup> | 4650000 | 4520414 |
| Iron Mountain, Inc., 4.50%, 2/15/31<sup>(1)</sup> | 2650000 | 2489789 |
| Iron Mountain, Inc., 6.25%, 1/15/33<sup>(1)</sup> | 1850000 | 1845564 |
| Millrose Properties, Inc., 6.375%, 8/1/30<sup>(1)</sup> | 2350000 | 2350855 |
| Millrose Properties, Inc., 6.25%, 9/15/32<sup>(1)</sup> | 1025000 | 1007506 |
|  |  | 15594387 |
| **Specialty Retail — 2.2%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 800000 | 810970 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> | 1474000 | 1494142 |
| Asbury Automotive Group, Inc., 4.50%, 3/1/28 | 645000 | 633838 |
| Asbury Automotive Group, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 825000 | 798072 |
| Asbury Automotive Group, Inc., 5.00%, 2/15/32<sup>(1)</sup> | 350000 | 331768 |
| Bath & Body Works, Inc., 6.625%, 10/1/30<sup>(1)</sup> | 1425000 | 1439324 |
| Bath & Body Works, Inc., 6.75%, 7/1/36 | 1750000 | 1680142 |
| Carvana Co., 9.00%, 6/1/30<sup>(1)</sup> | 871500 | 907199 |
| Carvana Co., 9.00%, 6/1/31<sup>(1)</sup> | 730526 | 790428 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Ferrellgas LP/Ferrellgas Finance Corp., 5.875%, 4/1/29<sup>(1)</sup> | $4861000 | $4650678 |
| Ferrellgas LP/Ferrellgas Finance Corp., 9.25%, 1/15/31<sup>(1)</sup> | 1925000 | 2006918 |
| Gap, Inc., 3.625%, 10/1/29<sup>(1)</sup> | 925000 | 864727 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.375%, 1/15/29<sup>(1)</sup> | 1675000 | 1531595 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 11.50%, 8/15/29<sup>(1)</sup> | 800000 | 796614 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.75%, 1/15/32<sup>(1)</sup> | 1066000 | 913705 |
| LBM Acquisition LLC, 6.25%, 1/15/29<sup>(1)</sup> | 2300000 | 1683535 |
| Lithia Motors, Inc., 4.625%, 12/15/27<sup>(1)</sup> | 1525000 | 1509473 |
| Lithia Motors, Inc., 3.875%, 6/1/29<sup>(1)</sup> | 2725000 | 2589837 |
| Lithia Motors, Inc., 5.50%, 10/1/30<sup>(1)</sup> | 400000 | 392184 |
| Men's Wearhouse LLC, 9.00%, 2/1/31<sup>(1)</sup> | 325000 | 333767 |
| Michaels Cos., Inc., 8.50%, 3/15/33<sup>(1)</sup> | 1473000 | 1435511 |
| Michaels Cos., Inc., 11.00%, 3/15/34<sup>(1)</sup> | 275000 | 256391 |
| Murphy Oil USA, Inc., 4.75%, 9/15/29 | 1025000 | 1011645 |
| Murphy Oil USA, Inc., 3.75%, 2/15/31<sup>(1)</sup> | 425000 | 395167 |
| Park River Holdings, Inc., 8.75%, 12/31/30<sup>(1)</sup> | 715811 | 662865 |
| Park River Holdings, Inc., 8.00%, 3/15/31<sup>(1)</sup> | 550000 | 547878 |
| PetSmart LLC/PetSmart Finance Corp., 7.50%, 9/15/32<sup>(1)</sup> | 1075000 | 1081036 |
| PetSmart LLC/PetSmart Finance Corp., 10.00%, 9/15/33<sup>(1)</sup> | 2900000 | 2896602 |
| Sonic Automotive, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 920000 | 892408 |
| Sonic Automotive, Inc., 4.875%, 11/15/31<sup>(1)</sup> | 475000 | 451271 |
| Staples, Inc., 10.75%, 9/1/29<sup>(1)</sup> | 1750000 | 1619781 |
| Staples, Inc., 12.75%, 1/15/30<sup>(1)</sup> | 1537296 | 1040350 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 6/1/31<sup>(1)</sup> | 875000 | 824174 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp., 6.50%, 12/15/35<sup>(1)</sup> | 50000 | 48650 |
| Superior Plus LP/Superior General Partner, Inc., 4.50%, 3/15/29<sup>(1)</sup> | 975000 | 932739 |
|  |  | 40255384 |
| **Technology Hardware, Storage and Peripherals — 0.6%** |  |  |
| Diebold Nixdorf, Inc., 7.75%, 3/31/30<sup>(1)</sup> | 1225000 | 1276864 |
| NCR Voyix Corp., 5.00%, 10/1/28<sup>(1)</sup> | 1350000 | 1301848 |
| NCR Voyix Corp., 5.125%, 4/15/29<sup>(1)</sup> | 754000 | 721908 |
| Seagate Data Storage Technology Pte. Ltd., 4.09%, 6/1/29<sup>(1)</sup> | 725000 | 702277 |
| Seagate Data Storage Technology Pte. Ltd., 5.875%, 7/15/30<sup>(1)</sup> | 2300000 | 2339353 |
| Seagate Data Storage Technology Pte. Ltd., 4.125%, 1/15/31<sup>(1)</sup> | 1760000 | 1652751 |
| Seagate Data Storage Technology Pte. Ltd., 9.625%, 12/1/32<sup>(1)</sup> | 2145000 | 2385847 |
| Xerox Holdings Corp., 5.50%, 8/15/28<sup>(1)</sup> | 725000 | 302687 |
| Xerox Issuer Corp., 13.50%, 4/15/31<sup>(1)</sup> | 550000 | 273625 |
|  |  | 10957160 |
| **Textiles, Apparel and Luxury Goods — 0.3%** |  |  |
| Beach Acquisition Bidco LLC, 10.00% Cash or 10.75% PIK, 7/15/33<sup>(1)</sup> | 3214848 | 3426200 |
| Crocs, Inc., 4.25%, 3/15/29<sup>(1)</sup> | 925000 | 888519 |
| Crocs, Inc., 4.125%, 8/15/31<sup>(1)</sup> | 1325000 | 1193558 |
| Eagle Intermediate Global Holding BV/Eagle U.S. Finance LLC, 7.50%, 3/31/26<sup>(1)(3)(9)</sup> | 968765 | 43594 |
| S&S Holdings LLC, 8.375%, 10/1/31<sup>(1)</sup> | 775000 | 684455 |
|  |  | 6236326 |
| **Trading Companies and Distributors — 1.0%** |  |  |
| Alta Equipment Group, Inc., 9.00%, 6/1/29<sup>(1)</sup> | 975000 | 868929 |
| EquipmentShare.com, Inc., 9.00%, 5/15/28<sup>(1)</sup> | 300000 | 310254 |
| EquipmentShare.com, Inc., 8.625%, 5/15/32<sup>(1)</sup> | 2000000 | 2090018 |
| EquipmentShare.com, Inc., 8.00%, 3/15/33<sup>(1)</sup> | 1471000 | 1520272 |
| FTAI Aviation Investors LLC, 5.50%, 5/1/28<sup>(1)</sup> | 3275000 | 3276627 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| FTAI Aviation Investors LLC, 7.875%, 12/1/30<sup>(1)</sup> | $350000 | $365745 |
| FTAI Aviation Investors LLC, 7.00%, 5/1/31<sup>(1)</sup> | 2000000 | 2051710 |
| FTAI Aviation Investors LLC, 7.00%, 6/15/32<sup>(1)</sup> | 3075000 | 3154738 |
| FTAI Aviation Investors LLC, 5.875%, 4/15/33<sup>(1)</sup> | 1900000 | 1861237 |
| Herc Holdings, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 375000 | 381378 |
| Herc Holdings, Inc., 5.75%, 3/15/31<sup>(1)</sup> | 625000 | 616104 |
| Herc Holdings, Inc., 6.00%, 3/15/34<sup>(1)</sup> | 775000 | 750032 |
| QXO Building Products, Inc., 6.75%, 4/30/32<sup>(1)</sup> | 1125000 | 1148474 |
|  |  | 18395518 |
| **Transportation Infrastructure — 0.1%** |  |  |
| Beacon Mobility Corp., 7.25%, 8/1/30<sup>(1)</sup> | 675000 | 697806 |
| Seaspan Corp., 5.50%, 8/1/29<sup>(1)</sup> | 1175000 | 1102042 |
| Star Leasing Co. LLC, 7.625%, 2/15/30<sup>(1)</sup> | 775000 | 718013 |
|  |  | 2517861 |
| **Wireless Telecommunication Services — 0.7%** |  |  |
| Altice France Lux 3/Altice Holdings 1, 10.00%, 1/15/33<sup>(1)</sup> | 1820000 | 1656178 |
| C&W Senior Finance Ltd., 9.00%, 1/15/33<sup>(1)</sup> | 1000000 | 1011410 |
| 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> | 1800000 | 1832897 |
| Rogers Communications, Inc., VRN, 7.00%, 4/15/55 | 225000 | 226027 |
| Rogers Communications, Inc., VRN, 7.125%, 4/15/55 | 550000 | 563161 |
| Uniti Services LLC, 7.50%, 10/15/33<sup>(1)</sup> | 200000 | 208073 |
| Vmed O2 U.K. Financing I PLC, 4.75%, 7/15/31<sup>(1)</sup> | 3300000 | 2842723 |
| Vmed O2 U.K. Financing I PLC, 7.75%, 4/15/32<sup>(1)</sup> | 800000 | 767837 |
| Vmed O2 U.K. Financing I PLC, 6.75%, 1/15/33<sup>(1)</sup> | 1400000 | 1252707 |
| Vodafone Group PLC, VRN, 7.00%, 4/4/79 | 1575000 | 1621000 |
| Zegona Finance PLC, 8.625%, 7/15/29<sup>(1)</sup> | 1439000 | 1511796 |
|  |  | 13550231 |
| **TOTAL CORPORATE BONDS**<br>(Cost $1,784,423,454) |  | **1759449383** |
| **BANK LOAN OBLIGATIONS**<sup>(6)</sup> **— 0.9%** |  |  |
| **Construction Materials — 0.1%** |  |  |
| Quikrete Holdings, Inc., 2025 Term Loan B, 5.92%, (1-month SOFR plus 2.25%), 2/10/32 | 1485000 | 1484072 |
| **Entertainment — 0.0%** |  |  |
| Allen Media LLC, 2021 Term Loan B, 9.35%, (3-month SOFR plus 5.50%), 2/10/27 | 815068 | 519606 |
| **Food Products — 0.1%** |  |  |
| Northeast Grocery, Inc., Term Loan B, 11.15%, (3-month SOFR plus 7.50%), 12/13/28 | 2685114 | 2701896 |
| **Independent Power and Renewable Electricity Producers — 0.1%** |  |  |
| Lightning Power LLC, Term Loan B, 5.92%, (1-month SOFR plus 2.25%), 8/18/31 | 1108125 | 1111848 |
| **IT Services — 0.1%** |  |  |
| Amentum Government Services Holdings LLC, 2024 Term Loan B, 5.67%, (1-month SOFR plus 2.00%), 9/29/31 | 1529428 | 1531662 |
| Vericast Corp., 2024 Extended Term Loan, 11.50%, (6-month SOFR plus 7.75%), 6/15/30 | 3078 | 2990 |
|  |  | 1534652 |
| **Media — 0.1%** |  |  |
| iHeartCommunications, Inc., 2024 Term Loan, 9.56%, (1-month SOFR plus 5.78%), 5/1/29 | 2830018 | 2489085 |
| Univision Communications, Inc., 2022 First Lien Term Loan B, 7.95%, (3-month SOFR plus 4.25%), 6/24/29 | 72187 | 72052 |
|  |  | 2561137 |
| **Paper and Forest Products — 0.1%** |  |  |
| Glatfelter Corp., Term Loan B, 7.92%, (3-month SOFR plus 4.25%), 11/4/31 | 1394161 | 1341880 |
| **Passenger Airlines — 0.1%** |  |  |
| WestJet Loyalty LP, Term Loan B, 6.45%, (3-month SOFR plus 2.75%), 2/14/31 | 2104667 | 2050177 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Pharmaceuticals — 0.1%** | | |
| Bausch Health Cos., Inc., 2025 Term Loan B, 9.92%, (1-month SOFR plus 6.25%), 10/8/30 | $794000 | $768413 |
| Paradigm Parent LLC, 1st Lien Term Loan, 8.20%, (3-month SOFR plus 4.50%), 4/16/32 | 1990000 | 1651700 |
|  |  | 2420113 |
| **Textiles, Apparel and Luxury Goods — 0.1%** |  |  |
| Beach Acquisition Bidco LLC, USD Term Loan B, 6.95%, (3-month SOFR plus 3.25%), 9/12/32 | 972562 | 976209 |
| **TOTAL BANK LOAN OBLIGATIONS**<br>(Cost $17,179,855) |  | **16701590** |
| **PREFERRED SECURITIES — 0.9%** |  |  |
| **Banks — 0.0%** |  |  |
| Citigroup, Inc., 6.875% | 325000 | 327505 |
| **Consumer Finance — 0.1%** |  |  |
| Ally Financial, Inc., 4.70% | 1700000 | 1685611 |
| **Electric Utilities — 0.1%** |  |  |
| Electricite de France SA, 9.125%<sup>(1)</sup> | 400000 | 463319 |
| NRG Energy, Inc., 10.25%<sup>(1)</sup> | 2025000 | 2185635 |
|  |  | 2648954 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |
| Vistra Corp., 7.00%<sup>(1)</sup> | 3435000 | 3441808 |
| Vistra Corp., 8.00%<sup>(1)</sup> | 3034000 | 3068026 |
|  |  | 6509834 |
| **Oil, Gas and Consumable Fuels — 0.3%** |  |  |
| Plains All American Pipeline LP, 8.02% | 1125000 | 1122941 |
| Sunoco LP, 7.875%<sup>(1)</sup> | 2950000 | 3014269 |
| Venture Global LNG, Inc., 9.00%<sup>(1)</sup> | 875000 | 872227 |
|  |  | 5009437 |
| **TOTAL PREFERRED SECURITIES**<br>(Cost $15,178,574) |  | **16181341** |
| **COMMON STOCKS — 0.5%** |  |  |
| **Building Products — 0.0%** |  |  |
| Hardwood Holdings LLC (Acquired 4/27/21, Cost $12,630)<sup>(3)(7)</sup> | 1684 | 2526 |
| **Capital Markets — 0.1%** |  |  |
| Ardagh Holdings SA<sup>(3)</sup> | 160413 | 1497455 |
| **Chemicals — 0.0%** |  |  |
| Cornerstone Chemical Co. (Acquired 1/11/24, Cost $54,814)<sup>(3)(7)</sup> | 15661 | 157 |
| SK Mohawk Holdings SCS (Acquired 2/2/26, Cost $83,138)<sup>(3)(7)</sup> | 7558 | 71801 |
|  |  | 71958 |
| **Consumer Finance — 0.0%** |  |  |
| Curo Group Holdings LLC<sup>(3)</sup> | 14289 | 164324 |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| SES SA<sup>(3)</sup> | 32375 | 485625 |
| **Energy Equipment and Services — 0.1%** |  |  |
| Nine Energy Service, Inc.<sup>(3)</sup> | 80212 | 581537 |
| **Gas Utilities — 0.0%** |  |  |
| Ferrellgas Partners LP<sup>(3)</sup> | 1820 | 49140 |
| **Health Care Equipment and Supplies — 0.0%** |  |  |
| Par Health Inc. (Acquired 12/23/25, Cost $160,219)<sup>(3)(7)</sup> | 23048 | 188705 |
| **Health Care Providers and Services — 0.0%** |  |  |
| Air Methods Corp. (Acquired 2/20/24, Cost $26,325)<sup>(3)(7)</sup> | 1080 | 140400 |
| **IT Services — 0.1%** |  |  |
| Carnelian Point Holdings LP (Acquired 2/3/15 - 4/27/21, Cost $5,024,155)<sup>(3)(7)</sup> | 2222 | 7133 |
| Carnelian Point Holdings LP (Acquired 6/3/24, Cost $3,259,445)<sup>(3)(7)</sup> | 235339 | 755438 |
| Carnelian Point Holdings LP (Acquired 6/3/24, Cost $2,079,979)<sup>(3)(7)</sup> | 150179 | 482074 |
|  |  | 1244645 |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Media — 0.1%** | | |
| Altice Luxembourg SA (Acquired 10/1/25, Cost $2,248,718)<sup>(3)(7)</sup> | 129093 | $2237287 |
| Audacy, Inc. (Acquired 10/1/24, Cost $15,056)<sup>(3)(7)</sup> | 941 | 8939 |
| TPC Holdings, Inc., A Shares (Acquired 11/16/22, Cost $97,580)<sup>(7)</sup> | 7517 | 163495 |
|  |  | 2409721 |
| **Passenger Airlines — 0.0%** |  |  |
| Spirit Aviation Holdings, Inc.<sup>(3)</sup> | 27834 | 6959 |
| **Pharmaceuticals — 0.1%** |  |  |
| Keenova Therapeutics (Acquired 1/12/24, Cost $297,805)<sup>(3)(7)</sup> | 8683 | 790153 |
| Keenova Therapeutics PLC (Acquired 4/29/24, Cost $1,186,328)<sup>(3)(7)</sup> | 14365 | 1307215 |
|  |  | 2097368 |
| **TOTAL COMMON STOCKS**<br>(Cost $20,728,508) |  | **8940363** |
| **CONVERTIBLE PREFERRED SECURITIES — 0.1%** |  |  |
| **Banks — 0.1%** |  |  |
| Barclays PLC, 9.625%<br>(Cost $1,000,000) | 1000000 | **1091305** |
| **CONVERTIBLE BONDS — 0.0%** |  |  |
| **Diversified Telecommunication Services — 0.0%** |  |  |
| Uniti Group, Inc., 7.50%, 12/1/27 | $475000 | 567578 |
| **Media — 0.0%** |  |  |
| Liberty Interactive LLC, 3.75%, 2/15/30<sup>(2)</sup> | 100000 | 4000 |
| **TOTAL CONVERTIBLE BONDS**<br>(Cost $583,844) |  | **571578** |
| **WARRANTS — 0.0%** |  |  |
| **Consumer Finance — 0.0%** |  |  |
| Curo Group Holdings LLC<sup>(3)</sup> | 24966 | 26526 |
| **Health Care Providers and Services — 0.0%** |  |  |
| Air Methods Corp.<sup>(3)</sup> | 6000 | 224071 |
| Air Methods Corp.<sup>(3)</sup> | 2842 | 63502 |
|  |  | 287573 |
| **Media — 0.0%** |  |  |
| Audacy Capital Corp.<sup>(3)</sup> | 190 |  |
| Audacy Capital Corp.<sup>(3)</sup> | 1140 | 1 |
|  |  | 1 |
| **TOTAL WARRANTS**<br>(Cost $—) |  | **314100** |
| **ESCROW INTERESTS**<sup>(8)</sup> **— 0.0%** |  |  |
| **Banks — 0.0%** |  |  |
| Washington Mutual, Inc.<sup>(3)</sup> | 250000 | 875 |
| **Consumer Staples Distribution & Retail — 0.0%** |  |  |
| Rite Aid Corp.<sup>(3)</sup> | 70050 | 7 |
| **Ground Transportation — 0.0%** |  |  |
| Hertz Corp.<sup>(3)</sup> | 1075000 | 5429 |
| **Media — 0.0%** |  |  |
| Altice Luxembourg SA<sup>(3)</sup> | 6042 | 956 |
| **Oil, Gas and Consumable Fuels — 0.0%** |  |  |
| Sanchez Energy Corp.<sup>(3)</sup> | 3990000 | 20150 |
| Sanchez Energy Corp.<sup>(3)</sup> | 2225000 | 11236 |
|  |  | 31386 |
| **Pharmaceuticals — 0.0%** |  |  |
| Endo GUC Trust<sup>(3)</sup> | 421757 | 4217 |
| **TOTAL ESCROW INTERESTS**<br>(Cost $4,867,289) |  | **42870** |

---

------

Schedule of Investments - High Income Fund

---

| | | |
|:---|:---|:---|
|<br>**SHORT-TERM INVESTMENTS — 0.7%** | **Principal<br>Amount/Shares** | **Value** |
| **Money Market Funds — 0.7%** | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class<br>(Cost $13,224,844) | 13224844 | $**13224844** |
| **TOTAL INVESTMENT SECURITIES — 98.9%**<br>(Cost $1,857,186,368) |  | **1816517374** |
| **OTHER ASSETS AND LIABILITIES — 1.1%** |  | **20751894** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1837269268** |

---

---

| | | |
|:---|:---|:---|
| **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 $1,498,616,107, which represented 81.6% of total net assets.

(2)Security is in default.

(3)Non-income producing.

(4)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.

(5)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(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)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 $6,155,323, which represented 0.3% of total net assets.

(8)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.

(9)Maturity is in default.

**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 |  | $1759449383 |  |
| Bank Loan Obligations |  | 16701590 |  |
| Preferred Securities |  | 16181341 |  |
| Common Stocks | $6959 | 8933404 |  |
| Convertible Preferred Securities |  | 1091305 |  |
| Convertible Bonds |  | 571578 |  |
| Warrants |  | 314100 |  |
| Escrow Interests |  | 42870 |  |
| Short-Term Investments | 13224844 |  |  |
|  | $13231803 | $1803285571 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - High-Yield Fund

**MARCH 31, 2026** 

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 94.3%** | **Principal<br>Amount/Shares** | **Value** |
| **Aerospace and Defense — 3.3%** | | |
| AAR Escrow Issuer LLC, 6.75%, 3/15/29<sup>(1)</sup> | $79000 | $80461 |
| ATI, Inc., 4.875%, 10/1/29 | 318000 | 314002 |
| Axon Enterprise, Inc., 6.125%, 3/15/30<sup>(1)</sup> | 30000 | 30571 |
| Bombardier, Inc., 7.50%, 2/1/29<sup>(1)</sup> | 175000 | 181840 |
| Bombardier, Inc., 8.75%, 11/15/30<sup>(1)</sup> | 319000 | 339669 |
| Carpenter Technology Corp., 5.625%, 3/1/34<sup>(1)</sup> | 75000 | 74403 |
| Spirit AeroSystems, Inc., 4.60%, 6/15/28 | 343000 | 343337 |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(1)</sup> | 368000 | 372928 |
| TransDigm, Inc., 4.625%, 1/15/29 | 382000 | 375567 |
| TransDigm, Inc., 6.375%, 3/1/29<sup>(1)</sup> | 215000 | 219281 |
| TransDigm, Inc., 4.875%, 5/1/29 | 214000 | 210987 |
| TransDigm, Inc., 6.375%, 5/31/33<sup>(1)</sup> | 317000 | 315560 |
|  |  | 2858606 |
| **Air Freight and Logistics — 0.4%** |  |  |
| Rand Parent LLC, 8.50%, 2/15/30<sup>(1)</sup> | 348000 | 357502 |
| **Automobile Components — 3.4%** |  |  |
| American Axle & Manufacturing, Inc., 5.00%, 10/1/29 | 362000 | 345567 |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)</sup> | 65000 | 63317 |
| Aptiv Swiss Holdings Ltd., VRN, 6.875%, 12/15/54 | 324000 | 327268 |
| Cooper-Standard Automotive, Inc., 9.25%, 3/1/31<sup>(1)</sup> | 320000 | 300960 |
| Forvia SE, 8.00%, 6/15/30<sup>(1)</sup> | 319000 | 329771 |
| Goodyear Tire & Rubber Co., 5.00%, 7/15/29 | 376000 | 356052 |
| IHO Verwaltungs GmbH, 7.75% Cash or 8.50% PIK, 11/15/30<sup>(1)</sup> | 312000 | 317389 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(1)</sup> | 405000 | 403807 |
| ZF North America Capital, Inc., 7.125%, 4/14/30<sup>(1)</sup> | 471000 | 464748 |
|  |  | 2908879 |
| **Automobiles — 1.6%** |  |  |
| Jaguar Land Rover Automotive PLC, 4.50%, 10/1/27<sup>(1)</sup> | 338000 | 331774 |
| Nissan Motor Acceptance Co. LLC, 2.75%, 3/9/28<sup>(1)</sup> | 360000 | 336806 |
| Nissan Motor Acceptance Co. LLC, 7.05%, 9/15/28<sup>(1)</sup> | 325000 | 330263 |
| Nissan Motor Acceptance Co. LLC, 5.625%, 9/29/28<sup>(1)</sup> | 180000 | 176770 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 180000 | 173143 |
|  |  | 1348756 |
| **Banks — 0.7%** |  |  |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 51000 | 50965 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 12000 | 12171 |
| Freedom Mortgage Holdings LLC, 6.875%, 5/1/31<sup>(1)</sup> | 310000 | 290124 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 310000 | 282573 |
|  |  | 635833 |
| **Biotechnology — 0.4%** |  |  |
| Grifols SA, 4.75%, 10/15/28<sup>(1)</sup> | 349000 | 342051 |
| **Broadline Retail — 0.7%** |  |  |
| Kohl's Corp., 5.125%, 5/1/31 | 404000 | 304615 |
| Nordstrom, Inc., 5.00%, 1/15/44 | 244000 | 163114 |
| Wayfair LLC, 7.25%, 10/31/29<sup>(1)</sup> | 137000 | 139939 |
|  |  | 607668 |
| **Building Products — 0.8%** |  |  |
| Advanced Drainage Systems, Inc., 5.375%, 3/1/34<sup>(1)</sup> | 310000 | 302443 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | $419000 | $395190 |
|  |  | 697633 |
| **Capital Markets — 0.6%** |  |  |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 9.75%, 1/15/29 | 325000 | 319757 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 4.375%, 2/1/29 | 281000 | 240089 |
|  |  | 559846 |
| **Chemicals — 3.5%** |  |  |
| Celanese U.S. Holdings LLC, 6.50%, 4/15/30<sup>(2)</sup> | 230000 | 234869 |
| Celanese U.S. Holdings LLC, 7.05%, 11/15/30 | 319000 | 337438 |
| Chemours Co., 8.00%, 1/15/33<sup>(1)</sup> | 98000 | 98609 |
| Chemours Co., 7.875%, 3/15/34<sup>(1)</sup> | 350000 | 350245 |
| FMC Corp., 4.50%, 10/1/49 | 155000 | 96121 |
| FMC Corp., 6.375%, 5/18/53<sup>(2)</sup> | 451000 | 340372 |
| INEOS Finance PLC, 6.75%, 5/15/28<sup>(1)</sup> | 320000 | 309575 |
| NOVA Chemicals Corp., 5.25%, 6/1/27<sup>(1)</sup> | 353000 | 352652 |
| Olympus Water U.S. Holding Corp., 6.75%, 8/1/32<sup>(1)</sup> | 210000 | 200201 |
| Tronox, Inc., 9.125%, 9/30/30<sup>(1)(2)</sup> | 328000 | 327905 |
| WR Grace Holdings LLC, 7.00%, 8/1/33<sup>(1)</sup> | 350000 | 340210 |
|  |  | 2988197 |
| **Commercial Services and Supplies — 1.4%** |  |  |
| Allied Universal Holdco LLC, 7.875%, 2/15/31<sup>(1)</sup> | 94000 | 96997 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.00%, 6/1/29<sup>(1)</sup> | 225000 | 217636 |
| Clarivate Science Holdings Corp., 4.875%, 7/1/29<sup>(1)</sup> | 370000 | 321497 |
| Neptune Bidco U.S., Inc., 9.29%, 4/15/29<sup>(1)</sup> | 171000 | 171615 |
| Neptune Bidco U.S., Inc., 10.375%, 5/15/31<sup>(1)</sup> | 150000 | 151487 |
| Neptune Bidco U.S., Inc., 9.50%, 2/15/33<sup>(1)</sup> | 220000 | 213728 |
|  |  | 1172960 |
| **Communications Equipment — 0.4%** |  |  |
| Viasat, Inc., 7.50%, 5/30/31<sup>(1)</sup> | 384000 | 379952 |
| **Construction and Engineering — 0.8%** |  |  |
| ATP Tower Holdings/Andean Telecom Partners Chile SpA/Andean Tower Partners C, 7.875%, 2/3/30<sup>(1)</sup> | 315000 | 319636 |
| Global Infrastructure Solutions, Inc., 5.625%, 6/1/29<sup>(1)</sup> | 339000 | 332951 |
|  |  | 652587 |
| **Consumer Finance — 4.2%** |  |  |
| Atlanticus Holdings Corp., 9.75%, 9/1/30<sup>(1)</sup> | 173000 | 155685 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 9/1/27<sup>(1)</sup> | 352000 | 357558 |
| goeasy Ltd., 7.375%, 10/1/30<sup>(1)</sup> | 311000 | 257850 |
| goeasy Ltd., 6.875%, 2/15/31<sup>(1)(2)</sup> | 63000 | 50737 |
| LFS Topco LLC, 8.75%, 7/15/30<sup>(1)(2)</sup> | 324000 | 309897 |
| Navient Corp., 4.875%, 3/15/28 | 332000 | 313609 |
| Navient Corp., 7.875%, 6/15/32<sup>(2)</sup> | 191000 | 170524 |
| OneMain Finance Corp., 5.375%, 11/15/29 | 346000 | 333910 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 65000 | 63604 |
| OneMain Finance Corp., 7.50%, 5/15/31 | 127000 | 127759 |
| OneMain Finance Corp., 7.125%, 9/15/32 | 351000 | 346123 |
| PRA Group, Inc., 8.875%, 1/31/30<sup>(1)</sup> | 329000 | 332411 |
| PROG Holdings, Inc., 6.00%, 11/15/29<sup>(1)</sup> | 334000 | 317571 |
| Synchrony Financial, 7.25%, 2/2/33 | 172000 | 175801 |
| VistaJet Malta Finance PLC/Vista Management Holding, Inc., 6.375%, 2/1/30<sup>(1)(2)</sup> | 395000 | 341562 |
|  |  | 3654601 |
| **Consumer Staples Distribution & Retail — 0.1%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.50%, 3/31/31<sup>(1)</sup> | 82000 | 81173 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.75%, 3/31/34<sup>(1)</sup> | $50000 | $48980 |
|  |  | 130153 |
| **Containers and Packaging — 1.5%** |  |  |
| Cascades, Inc./Cascades USA, Inc., 6.75%, 7/15/30<sup>(1)</sup> | 313000 | 316002 |
| Clydesdale Acquisition Holdings, Inc., 6.875%, 1/15/30<sup>(1)</sup> | 173000 | 168368 |
| Clydesdale Acquisition Holdings, Inc., 8.75%, 4/15/30<sup>(1)</sup> | 347000 | 324082 |
| Mauser Packaging Solutions Holding Co., 7.875%, 4/15/30<sup>(1)</sup> | 472000 | 472337 |
|  |  | 1280789 |
| **Diversified Consumer Services — 0.2%** |  |  |
| Sotheby's, 7.375%, 10/15/27<sup>(1)</sup> | 215000 | 214104 |
| **Diversified REITs — 2.0%** |  |  |
| Brandywine Operating Partnership LP, 8.875%, 4/12/29 | 320000 | 325164 |
| Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 4.50%, 4/1/27<sup>(1)</sup> | 335000 | 328902 |
| Global Net Lease, Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27<sup>(1)</sup> | 335000 | 324840 |
| MPT Operating Partnership LP/MPT Finance Corp., 5.00%, 10/15/27<sup>(2)</sup> | 180000 | 167706 |
| MPT Operating Partnership LP/MPT Finance Corp., 3.50%, 3/15/31 | 231000 | 151189 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 4.875%, 5/15/29<sup>(1)</sup> | 350000 | 336214 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 7.00%, 2/1/30<sup>(1)</sup> | 83000 | 84071 |
|  |  | 1718086 |
| **Diversified Telecommunication Services — 2.3%** |  |  |
| APLD ComputeCo 2 LLC, 6.75%, 3/15/31<sup>(1)</sup> | 150000 | 149001 |
| APLD ComputeCo LLC, 9.25%, 12/15/30<sup>(1)</sup> | 431000 | 444448 |
| Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29<sup>(1)</sup> | 405000 | 425975 |
| Flash Compute LLC, 7.25%, 12/31/30<sup>(1)</sup> | 389000 | 392128 |
| Level 3 Financing, Inc., 3.75%, 7/15/29<sup>(1)</sup> | 165000 | 153656 |
| Level 3 Financing, Inc., 8.50%, 1/15/36<sup>(1)</sup> | 418000 | 436543 |
|  |  | 2001751 |
| **Electric Utilities — 4.2%** |  |  |
| Edison International, VRN, 8.125%, 6/15/53 | 209000 | 212915 |
| Emera U.S. Finance LLC, VRN, 6.65%, 10/1/56 | 117000 | 117045 |
| EUSHI Finance, Inc., VRN, 6.25%, 4/1/56 | 310000 | 304403 |
| NRG Energy, Inc., 3.375%, 2/15/29<sup>(1)</sup> | 331000 | 313955 |
| NRG Energy, Inc., 5.75%, 7/15/29<sup>(1)</sup> | 336000 | 335661 |
| PacifiCorp, VRN, 7.375%, 9/15/55 | 365000 | 349055 |
| PacifiCorp, VRN, 7.125%, 8/15/56 | 59000 | 55754 |
| PG&E Corp., 5.00%, 7/1/28 | 366000 | 363349 |
| PG&E Corp., VRN, 7.375%, 3/15/55 | 160000 | 161159 |
| PG&E Corp., VRN, 6.85%, 9/15/56 | 320000 | 316340 |
| Vistra Operations Co. LLC, 5.00%, 7/31/27<sup>(1)</sup> | 376000 | 374850 |
| Vistra Operations Co. LLC, 4.375%, 5/1/29<sup>(1)</sup> | 381000 | 372172 |
| XPLR Infrastructure Operating Partners LP, 7.25%, 1/15/29<sup>(1)(2)</sup> | 344000 | 354986 |
|  |  | 3631644 |
| **Electronic Equipment, Instruments and Components — 0.4%** |  |  |
| Sensata Technologies BV, 4.00%, 4/15/29<sup>(1)</sup> | 229000 | 221146 |
| Sensata Technologies BV, 5.875%, 9/1/30<sup>(1)</sup> | 108000 | 108263 |
|  |  | 329409 |
| **Energy Equipment and Services — 3.6%** |  |  |
| Borr IHC Ltd./Borr Finance LLC, 10.00%, 11/15/28<sup>(1)</sup> | 357683 | 367092 |
| Bristow Group, Inc., 6.75%, 2/1/33<sup>(1)</sup> | 65000 | 65744 |
| Enerflex, Inc., 6.875%, 1/15/31<sup>(1)</sup> | 101000 | 103189 |
| Kodiak Gas Services LLC, 5.875%, 4/1/31<sup>(1)</sup> | 350000 | 351950 |
| Nabors Industries, Inc., 8.875%, 8/15/31<sup>(1)(2)</sup> | 153000 | 159489 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Nabors Industries, Inc., 7.625%, 11/15/32<sup>(1)</sup> | $150000 | $153643 |
| Noble Finance II LLC, 8.00%, 4/15/30<sup>(1)</sup> | 375000 | 386292 |
| TGS ASA, 8.50%, 1/15/30<sup>(1)</sup> | 329000 | 344913 |
| Transocean International Ltd., 8.25%, 5/15/29<sup>(1)</sup> | 176000 | 181963 |
| Transocean International Ltd., 7.50%, 4/15/31 | 190000 | 194330 |
| Transocean International Ltd., 7.875%, 10/15/32<sup>(1)</sup> | 150000 | 160379 |
| Valaris Ltd., 8.375%, 4/30/30<sup>(1)</sup> | 344000 | 356627 |
| Viridien, 10.00%, 10/15/30<sup>(1)</sup> | 255000 | 271569 |
|  |  | 3097180 |
| **Entertainment — 1.1%** |  |  |
| Discovery Global Holdings, Inc., 4.28%, 3/15/32 | 145000 | 117895 |
| Discovery Global Holdings, Inc., 5.05%, 3/15/42 | 325000 | 214924 |
| Discovery Global Holdings, Inc., 5.14%, 3/15/52 | 448000 | 272720 |
| Live Nation Entertainment, Inc., 3.75%, 1/15/28<sup>(1)</sup> | 343000 | 334788 |
|  |  | 940327 |
| **Financial Services — 2.7%** |  |  |
| Burford Capital Global Finance LLC, 6.25%, 4/15/28<sup>(1)</sup> | 317000 | 298525 |
| Burford Capital Global Finance LLC, 8.50%, 1/15/34<sup>(1)</sup> | 200000 | 172000 |
| HA Sustainable Infrastructure Capital, Inc., VRN, 7.125%, 11/15/56 | 320000 | 318582 |
| ION Platform Finance U.S., Inc./ION Platform Finance SARL, 8.75%, 5/1/29<sup>(1)</sup> | 276000 | 256963 |
| ION Platform Finance U.S., Inc./ION Platform Finance SARL, 9.00%, 8/1/29<sup>(1)</sup> | 319000 | 296085 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 8/15/28<sup>(1)</sup> | 362000 | 337678 |
| Jefferson Capital Holdings LLC, 9.50%, 2/15/29<sup>(1)</sup> | 292000 | 306591 |
| Midcap Financial Issuer Trust, 5.625%, 1/15/30<sup>(1)</sup> | 336000 | 313423 |
|  |  | 2299847 |
| **Food Products — 1.7%** |  |  |
| B&G Foods, Inc., 8.00%, 9/15/28<sup>(1)</sup> | 368000 | 362832 |
| Fiesta Purchaser, Inc., 9.625%, 9/15/32<sup>(1)(2)</sup> | 250000 | 255243 |
| HLF Financing SARL LLC/Herbalife International, Inc., 4.875%, 6/1/29<sup>(1)</sup> | 383000 | 358710 |
| Industrial F&B Investments III, Inc., 7.75%, 2/11/33<sup>(1)</sup> | 145000 | 146631 |
| Viking Baked Goods Acquisition Corp., 8.625%, 11/1/31<sup>(1)</sup> | 362000 | 359109 |
|  |  | 1482525 |
| **Gas Utilities — 0.4%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 9.50%, 6/1/30<sup>(1)</sup> | 308000 | 327542 |
| **Ground Transportation — 1.8%** |  |  |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.25%, 1/15/30<sup>(1)(2)</sup> | 312000 | 314097 |
| Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.00%, 2/15/31<sup>(1)</sup> | 190000 | 187949 |
| Dcli Bidco LLC, 7.75%, 11/15/29<sup>(1)</sup> | 324000 | 327902 |
| RXO, Inc., 6.375%, 5/15/31<sup>(1)</sup> | 350000 | 336703 |
| United Rentals North America, Inc., 4.875%, 1/15/28 | 368000 | 366647 |
|  |  | 1533298 |
| **Health Care Equipment and Supplies — 1.2%** |  |  |
| Avantor Funding, Inc., 4.625%, 7/15/28<sup>(1)</sup> | 186000 | 181650 |
| Avantor Funding, Inc., 3.875%, 11/1/29<sup>(1)</sup> | 269000 | 252572 |
| DENTSPLY SIRONA, Inc., VRN, 8.375%, 9/12/55 | 334000 | 326422 |
| Embecta Corp., 5.00%, 2/15/30<sup>(1)(2)</sup> | 347000 | 321336 |
|  |  | 1081980 |
| **Health Care Providers and Services — 2.3%** |  |  |
| CHS/Community Health Systems, Inc., 6.875%, 4/15/29<sup>(1)</sup> | 250000 | 240667 |
| CHS/Community Health Systems, Inc., 4.75%, 2/15/31<sup>(1)</sup> | 342000 | 315486 |
| CHS/Community Health Systems, Inc., 9.75%, 1/15/34<sup>(1)</sup> | 301000 | 312775 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | $413000 | $425914 |
| DaVita, Inc., 4.625%, 6/1/30<sup>(1)</sup> | 313000 | 301137 |
| Prime Healthcare Services, Inc., 9.375%, 9/1/29<sup>(1)</sup> | 163000 | 169144 |
| Star Parent, Inc., 9.00%, 10/1/30<sup>(1)</sup> | 259000 | 268648 |
|  |  | 2033771 |
| **Health Care REITs — 0.4%** |  |  |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(1)</sup> | 310000 | 313051 |
| **Hotels, Restaurants and Leisure — 4.4%** |  |  |
| Brightstar Lottery PLC/Brightstar Global Solutions Corp., 5.75%, 1/15/33<sup>(1)</sup> | 310000 | 301690 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)</sup> | 25000 | 24830 |
| Carnival Corp., 5.75%, 3/15/30<sup>(1)</sup> | 352000 | 354984 |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., 4.625%, 1/15/29<sup>(1)</sup> | 376000 | 359573 |
| Hilton Domestic Operating Co., Inc., 3.75%, 5/1/29<sup>(1)</sup> | 353000 | 338079 |
| Hilton Domestic Operating Co., Inc., 4.00%, 5/1/31<sup>(1)</sup> | 388000 | 364459 |
| Hilton Domestic Operating Co., Inc., 5.50%, 3/31/34<sup>(1)</sup> | 100000 | 97776 |
| Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 5.00%, 6/1/29<sup>(1)</sup> | 360000 | 342040 |
| MGM Resorts International, 4.625%, 9/1/26 | 215000 | 214836 |
| NCL Corp. Ltd., 5.875%, 1/15/31<sup>(1)</sup> | 150000 | 145825 |
| Resorts World Las Vegas LLC/RWLV Capital, Inc., 4.625%, 4/16/29<sup>(1)</sup> | 300000 | 258095 |
| Resorts World Las Vegas LLC/RWLV Capital, Inc., 8.45%, 7/27/30<sup>(1)</sup> | 200000 | 189884 |
| Travel & Leisure Co., 6.125%, 9/1/33<sup>(1)</sup> | 200000 | 197550 |
| Wyndham Hotels & Resorts, Inc., 5.625%, 3/1/33<sup>(1)</sup> | 320000 | 315183 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27<sup>(1)</sup> | 325000 | 324006 |
|  |  | 3828810 |
| **Household Durables — 3.3%** |  |  |
| Adams Homes, Inc., 9.25%, 10/15/28<sup>(1)</sup> | 301000 | 311094 |
| Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC, 4.875%, 2/15/30<sup>(1)</sup> | 350000 | 321782 |
| Dream Finders Homes, Inc., 6.875%, 9/15/30<sup>(1)</sup> | 290000 | 277789 |
| Installed Building Products, Inc., 5.625%, 2/1/34<sup>(1)</sup> | 330000 | 322838 |
| K Hovnanian Enterprises, Inc., 8.00%, 4/1/31<sup>(1)</sup> | 38000 | 37623 |
| K Hovnanian Enterprises, Inc., 8.375%, 10/1/33<sup>(1)</sup> | 38000 | 37622 |
| M/I Homes, Inc., 4.95%, 2/1/28 | 335000 | 330934 |
| Newell Brands, Inc., 8.50%, 6/1/28<sup>(1)</sup> | 360000 | 371790 |
| Newell Brands, Inc., 7.50%, 4/1/46 | 247000 | 198484 |
| Somnigroup International, Inc., 3.875%, 10/15/31<sup>(1)</sup> | 355000 | 323053 |
| Whirlpool Corp., 6.125%, 6/15/30 | 347000 | 339084 |
|  |  | 2872093 |
| **Independent Power and Renewable Electricity Producers — 0.6%** |  |  |
| AES Corp., VRN, 6.95%, 7/15/55 | 178000 | 166248 |
| TerraForm Power Operating LLC, 5.00%, 1/31/28<sup>(1)</sup> | 338000 | 334450 |
|  |  | 500698 |
| **Industrial Conglomerates — 0.4%** |  |  |
| Stena International SA, 7.25%, 1/15/31<sup>(1)</sup> | 340000 | 343818 |
| **Insurance — 1.9%** |  |  |
| Acrisure LLC/Acrisure Finance, Inc., 8.50%, 6/15/29<sup>(1)</sup> | 315000 | 312302 |
| APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC, 7.875%, 11/1/29<sup>(1)</sup> | 324000 | 293277 |
| Ardonagh Finco Ltd., 7.75%, 2/15/31<sup>(1)</sup> | 200000 | 202491 |
| Ardonagh Group Finance Ltd., 8.875%, 2/15/32<sup>(1)</sup> | 283000 | 277554 |
| Global Atlantic Fin Co., VRN, 7.95%, 10/15/54<sup>(1)</sup> | 317000 | 305508 |
| Nassau Cos., of New York, 7.875%, 7/15/30<sup>(1)</sup> | 312000 | 285282 |
|  |  | 1676414 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **IT Services — 0.5%** | | |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | $270000 | $262606 |
| Unisys Corp., 10.625%, 1/15/31<sup>(1)(2)</sup> | 162000 | 139513 |
|  |  | 402119 |
| **Life Sciences Tools and Services — 0.4%** |  |  |
| Charles River Laboratories International, Inc., 4.25%, 5/1/28<sup>(1)</sup> | 339000 | 331580 |
| **Machinery — 1.1%** |  |  |
| Chart Industries, Inc., 9.50%, 1/1/31<sup>(1)</sup> | 311000 | 326917 |
| Lsf12 Helix Parent LLC, 7.125%, 2/1/33<sup>(1)</sup> | 360000 | 347366 |
| Wabash National Corp., 4.50%, 10/15/28<sup>(1)(2)</sup> | 360000 | 315849 |
|  |  | 990132 |
| **Media — 6.9%** |  |  |
| AMC Networks, Inc., 10.50%, 7/15/32<sup>(1)</sup> | 397000 | 392212 |
| Directv Financing LLC, 8.875%, 2/1/30<sup>(1)</sup> | 333000 | 331716 |
| Directv Financing LLC/Directv Financing Co-Obligor, Inc., 10.00%, 2/15/31<sup>(1)</sup> | 335000 | 342243 |
| Discovery Communications LLC, 6.35%, 6/1/40 | 398000 | 293652 |
| DISH DBS Corp., 5.75%, 12/1/28<sup>(1)</sup> | 312000 | 301953 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(1)</sup> | 495000 | 510241 |
| EchoStar Corp., 10.75%, 11/30/29 | 428920 | 463605 |
| EchoStar Corp., 6.75%, 11/30/30 | 347001 | 350821 |
| EW Scripps Co., 9.875%, 8/15/30<sup>(1)</sup> | 85000 | 82598 |
| Gray Media, Inc., 10.50%, 7/15/29<sup>(1)(2)</sup> | 181000 | 192447 |
| Gray Media, Inc., 5.375%, 11/15/31<sup>(1)</sup> | 461000 | 342682 |
| iHeartCommunications, Inc., 9.125%, 5/1/29<sup>(1)</sup> | 365000 | 331823 |
| iHeartCommunications, Inc., 10.875%, 5/1/30<sup>(1)</sup> | 106000 | 68039 |
| Nexstar Media, Inc., 5.625%, 7/15/27<sup>(1)</sup> | 374000 | 374164 |
| Nexstar Media, Inc., 7.25%, 4/15/34<sup>(1)(3)</sup> | 346000 | 347397 |
| Paramount Global, VRN, 6.375%, 3/30/62 | 356000 | 261215 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 426000 | 411455 |
| Virgin Media Secured Finance PLC, 4.50%, 8/15/30<sup>(1)</sup> | 269000 | 238772 |
| Ziggo BV, 4.875%, 1/15/30<sup>(1)</sup> | 352000 | 329051 |
|  |  | 5966086 |
| **Metals and Mining — 4.0%** |  |  |
| Alumina Pty. Ltd., 6.125%, 3/15/30<sup>(1)</sup> | 321000 | 327783 |
| Big River Steel LLC/BRS Finance Corp., 6.625%, 1/31/29<sup>(1)</sup> | 330000 | 329507 |
| Cleveland-Cliffs, Inc., 4.625%, 3/1/29<sup>(1)</sup> | 120000 | 114606 |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 43000 | 42930 |
| Cleveland-Cliffs, Inc., 7.00%, 3/15/32<sup>(1)</sup> | 359000 | 347800 |
| Cleveland-Cliffs, Inc., 7.625%, 1/15/34<sup>(1)</sup> | 200000 | 195584 |
| Fortescue Treasury Pty. Ltd., 4.50%, 9/15/27<sup>(1)</sup> | 334000 | 331035 |
| Fortescue Treasury Pty. Ltd., 5.875%, 4/15/30<sup>(1)</sup> | 87000 | 88122 |
| Mineral Resources Ltd., 9.25%, 10/1/28<sup>(1)</sup> | 346000 | 358810 |
| Mineral Resources Ltd., 7.00%, 4/1/31<sup>(1)</sup> | 120000 | 122738 |
| Novelis Corp., 4.75%, 1/30/30<sup>(1)</sup> | 322000 | 304858 |
| Novelis Corp., 3.875%, 8/15/31<sup>(1)</sup> | 251000 | 223809 |
| Park-Ohio Industries, Inc., 8.50%, 8/1/30<sup>(1)</sup> | 319000 | 327232 |
| SunCoke Energy, Inc., 4.875%, 6/30/29<sup>(1)</sup> | 345000 | 311660 |
|  |  | 3426474 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.4%** |  |  |
| Starwood Property Trust, Inc., 5.25%, 10/15/28<sup>(1)</sup> | 310000 | 306666 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 9.9%** | | |
| Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 8.625%, 6/15/29<sup>(1)</sup> | $314000 | $326395 |
| Calumet Specialty Products Partners LP/Calumet Finance Corp., 9.75%, 2/15/31<sup>(1)</sup> | 310000 | 329518 |
| CNX Resources Corp., 5.875%, 3/1/34<sup>(1)</sup> | 320000 | 311868 |
| Coronado Finance Pty. Ltd., 9.25%, 10/1/29<sup>(1)(2)</sup> | 350000 | 316570 |
| Crescent Energy Finance LLC, 8.375%, 1/15/34<sup>(1)</sup> | 335000 | 350501 |
| CVR Energy, Inc., 7.50%, 2/15/31<sup>(1)</sup> | 340000 | 342828 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., 8.625%, 3/15/29<sup>(1)</sup> | 341000 | 353023 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 5.75%, 2/1/29<sup>(1)</sup> | 345000 | 340393 |
| Hilcorp Energy I LP/Hilcorp Finance Co., 7.25%, 2/15/35<sup>(1)</sup> | 136000 | 135691 |
| Moss Creek Resources Holdings, Inc., 8.25%, 9/1/31<sup>(1)</sup> | 342000 | 342025 |
| NGL Energy Operating LLC/NGL Energy Finance Corp., 8.125%, 2/15/29<sup>(1)</sup> | 355000 | 365935 |
| Northern Oil & Gas, Inc., 7.875%, 10/15/33<sup>(1)</sup> | 136000 | 140802 |
| PBF Holding Co. LLC/PBF Finance Corp., 6.00%, 2/15/28 | 354000 | 352606 |
| Saturn Oil & Gas, Inc., 9.625%, 6/15/29<sup>(1)</sup> | 321000 | 336207 |
| SM Energy Co., 6.75%, 9/15/26 | 350000 | 350406 |
| SM Energy Co., 6.75%, 8/1/29<sup>(1)</sup> | 71000 | 72121 |
| SM Energy Co., 6.625%, 4/15/34<sup>(1)</sup> | 350000 | 349291 |
| South Bow Canadian Infrastructure Holdings Ltd., VRN, 7.625%, 3/1/55 | 320000 | 329654 |
| Sunoco LP, 5.375%, 7/15/31<sup>(1)</sup> | 350000 | 347442 |
| Sunoco LP/Sunoco Finance Corp., 5.875%, 3/15/28 | 316000 | 316056 |
| Sunoco LP/Sunoco Finance Corp., 7.00%, 9/15/28<sup>(1)</sup> | 315000 | 322423 |
| Talos Production, Inc., 9.00%, 2/1/29<sup>(1)</sup> | 333000 | 346871 |
| Teine Energy Ltd., 6.875%, 4/15/29<sup>(1)</sup> | 335000 | 335116 |
| Venture Global Calcasieu Pass LLC, 6.25%, 1/15/30<sup>(1)</sup> | 363000 | 371480 |
| Venture Global LNG, Inc., 9.50%, 2/1/29<sup>(1)</sup> | 339000 | 366730 |
| Venture Global LNG, Inc., 7.00%, 1/15/30<sup>(1)(2)</sup> | 350000 | 357545 |
| Vermilion Energy, Inc., 7.25%, 2/15/33<sup>(1)(2)</sup> | 356000 | 359348 |
|  |  | 8568845 |
| **Passenger Airlines — 1.0%** |  |  |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 4/20/29<sup>(1)</sup> | 322000 | 320445 |
| CHC Group LLC, 11.75%, 9/1/30<sup>(1)</sup> | 177000 | 172457 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)(2)</sup> | 426000 | 403174 |
|  |  | 896076 |
| **Personal Care Products — 0.2%** |  |  |
| Edgewell Personal Care Co., 4.125%, 4/1/29<sup>(1)</sup> | 222000 | 209865 |
| **Pharmaceuticals — 1.9%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 167000 | 171123 |
| AdaptHealth LLC, 4.625%, 8/1/29<sup>(1)(2)</sup> | 375000 | 357594 |
| Bausch Health Cos., Inc., 5.00%, 1/30/28<sup>(1)(2)</sup> | 374000 | 316440 |
| Bausch Health Cos., Inc., 4.875%, 6/1/28<sup>(1)</sup> | 150000 | 137490 |
| Endo Finance Holdings LP, 8.50%, 4/15/31<sup>(1)</sup> | 315000 | 330072 |
| Perrigo Finance Unlimited Co., 5.15%, 6/15/30 | 250000 | 225964 |
| Teva Pharmaceutical Finance Netherlands III BV, 3.15%, 10/1/26 | 118000 | 116898 |
|  |  | 1655581 |
| **Professional Services — 0.7%** |  |  |
| AMN Healthcare, Inc., 6.50%, 1/15/31<sup>(1)</sup> | 310000 | 304024 |
| TriNet Group, Inc., 3.50%, 3/1/29<sup>(1)</sup> | 381000 | 345838 |
|  |  | 649862 |
| **Real Estate Management and Development — 1.8%** |  |  |
| Arbor Realty SR, Inc., 7.875%, 7/15/30<sup>(1)(2)</sup> | 370000 | 342367 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Howard Hughes Corp., 4.125%, 2/1/29<sup>(1)</sup> | $347000 | $328498 |
| Howard Hughes Corp., 4.375%, 2/1/31<sup>(1)</sup> | 82000 | 75346 |
| Howard Hughes Corp., 5.875%, 3/1/32<sup>(1)</sup> | 120000 | 115597 |
| Kennedy-Wilson, Inc., 4.75%, 3/1/29 | 347000 | 342231 |
| Newmark Group, Inc., 7.50%, 1/12/29 | 311000 | 326225 |
|  |  | 1530264 |
| **Semiconductors and Semiconductor Equipment — 1.2%** |  |  |
| ams-OSRAM AG, 12.25%, 3/30/29<sup>(1)</sup> | 291000 | 309760 |
| Entegris, Inc., 4.75%, 4/15/29<sup>(1)</sup> | 325000 | 321489 |
| Kioxia Holdings Corp., 6.25%, 7/24/30<sup>(1)</sup> | 360000 | 366130 |
|  |  | 997379 |
| **Software — 1.0%** |  |  |
| Cloud Software Group, Inc., 6.50%, 3/31/29<sup>(1)</sup> | 313000 | 305662 |
| Cloud Software Group, Inc., 9.00%, 9/30/29<sup>(1)</sup> | 349000 | 337004 |
| Pagaya U.S. Holdings Co. LLC, 8.875%, 8/1/30<sup>(1)(2)</sup> | 329000 | 235924 |
|  |  | 878590 |
| **Specialized REITs — 0.8%** |  |  |
| Iron Mountain, Inc., 4.875%, 9/15/29<sup>(1)</sup> | 359000 | 349508 |
| Millrose Properties, Inc., 6.25%, 9/15/32<sup>(1)</sup> | 310000 | 304709 |
|  |  | 654217 |
| **Specialty Retail — 1.5%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 359000 | 363923 |
| Ferrellgas LP/Ferrellgas Finance Corp., 9.25%, 1/15/31<sup>(1)</sup> | 200000 | 208511 |
| Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.375%, 1/15/29<sup>(1)</sup> | 338000 | 309062 |
| Petco Health & Wellness Co., Inc., 8.25%, 2/1/31<sup>(1)</sup> | 310000 | 309787 |
| Sonic Automotive, Inc., 4.625%, 11/15/29<sup>(1)</sup> | 100000 | 97001 |
|  |  | 1288284 |
| **Technology Hardware, Storage and Peripherals — 0.3%** |  |  |
| Seagate Data Storage Technology Pte. Ltd., 9.625%, 12/1/32<sup>(1)</sup> | 262000 | 291418 |
| Seagate HDD Cayman, 9.625%, 12/1/32 | 800 | 887 |
|  |  | 292305 |
| **Textiles, Apparel and Luxury Goods — 0.7%** |  |  |
| Under Armour, Inc., 7.25%, 7/15/30<sup>(1)</sup> | 330000 | 334191 |
| William Carter Co., 7.375%, 2/15/31<sup>(1)(2)</sup> | 310000 | 316574 |
|  |  | 650765 |
| **Wireless Telecommunication Services — 1.3%** |  |  |
| Millicom International Cellular SA, 6.25%, 3/25/29<sup>(1)</sup> | 336600 | 335569 |
| Rogers Communications, Inc., VRN, 7.00%, 4/15/55 | 121000 | 121552 |
| Rogers Communications, Inc., VRN, 6.875%, 7/31/56 | 90000 | 90371 |
| Rogers Communications, Inc., VRN, 5.25%, 3/15/82<sup>(1)</sup> | 339000 | 335121 |
| Vmed O2 U.K. Financing I PLC, 4.75%, 7/15/31<sup>(1)</sup> | 265000 | 228279 |
|  |  | 1110892 |
| **TOTAL CORPORATE BONDS**<br>(Cost $82,448,486) |  | **81608343** |
| **PREFERRED SECURITIES — 0.4%** |  |  |
| **Broadline Retail — 0.4%** |  |  |
| Rakuten Group, Inc., 8.125%<sup>(1)</sup><br>(Cost $329,440) | 335000 | **332527** |
| **SHORT-TERM INVESTMENTS — 11.0%** |  |  |
| **Money Market Funds — 11.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 3475791 | 3475791 |

---

------

Schedule of Investments - High-Yield Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(4)</sup> | 5989155 | $5989155 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $9,464,946) |  | **9464946** |
| **TOTAL INVESTMENT SECURITIES — 105.7%**<br>(Cost $92,242,872) |  | **91405816** |
| **OTHER ASSETS AND LIABILITIES — (5.7)%** |  | **(4892934)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**86512882** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 37 | June 2026 | $4108734 | $(80642) |

---

^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 $66,147,143, which represented 76.5% 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 $5,864,662. 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 $6,065,392, which includes securities collateral of $76,237.

**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 |  | $81608343 |  |
| Preferred Securities |  | 332527 |  |
| Short-Term Investments | $9464946 |  |  |
|  | $9464946 | $81940870 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $80642 |  |  |

---

------

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** |
| **Asset Derivatives:** | |
| &nbsp;&nbsp;Receivable for variation margin on futures contracts\* | $8672 |

---

\*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 March 31, 2026.

---

| | |
|:---|:---|
| | **Type of Risk Exposure** |
| | **Interest Rate** |
| **Net realized gain (loss) on:** | |
| &nbsp;&nbsp;Futures contract transactions | $65028 |
| **Change in net unrealized appreciation (depreciation) on:** |  |
| &nbsp;&nbsp;Futures contracts | $(80642) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Multisector Income Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 51.0%** | **Principal<br>Amount/Shares** | **Value** |
| **Aerospace and Defense — 0.9%** | | |
| Boeing Co., 5.71%, 5/1/40 | $110000 | $110225 |
| Carpenter Technology Corp., 5.625%, 3/1/34<sup>(1)</sup> | 100000 | 99204 |
| Honeywell Aerospace, Inc., 4.60%, 3/16/33<sup>(1)</sup> | 44000 | 43508 |
| Honeywell Aerospace, Inc., 4.95%, 3/16/36<sup>(1)</sup> | 124000 | 123081 |
| TransDigm, Inc., 4.625%, 1/15/29 | 530000 | 521074 |
|  |  | 897092 |
| **Automobile Components — 0.5%** |  |  |
| American Axle & Manufacturing, Inc., 7.75%, 10/15/33<sup>(1)</sup> | 390000 | 379904 |
| Cooper-Standard Automotive, Inc., 9.25%, 3/1/31<sup>(1)</sup> | 170000 | 159885 |
|  |  | 539789 |
| **Automobiles — 0.6%** |  |  |
| Ford Motor Credit Co. LLC, 7.20%, 6/10/30 | 200000 | 210801 |
| Nissan Motor Acceptance Co. LLC, 6.125%, 9/30/30<sup>(1)</sup> | 385000 | 370334 |
|  |  | 581135 |
| **Banks — 5.8%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 400000 | 357194 |
| Bank of America Corp., VRN, 4.33%, 3/15/50 | 100000 | 81133 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 900000 | 924890 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 415000 | 434812 |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, VRN, 5.125%, 1/18/33<sup>(1)</sup> | 415000 | 403615 |
| Dresdner Funding Trust I, 8.15%, 6/30/31<sup>(1)</sup> | 388000 | 415984 |
| Fifth Third Bank NA, VRN, 5.33%, 8/25/33 | 385000 | 386337 |
| FNB Corp., VRN, 5.72%, 12/11/30 | 277000 | 278803 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 465000 | 464681 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 242000 | 245459 |
| Freedom Mortgage Holdings LLC, 6.875%, 5/1/31<sup>(1)</sup> | 220000 | 205894 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 83000 | 77676 |
| JPMorgan Chase & Co., VRN, 4.26%, 2/22/48 | 105000 | 85915 |
| Sumitomo Mitsui Financial Group, Inc., VRN, 5.33%, 3/3/41 | 127000 | 123219 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 545000 | 562588 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 91000 | 82949 |
| Western Alliance Bancorp, VRN, 3.00%, 6/15/31 | 350000 | 336256 |
| Zions Bancorp NA, 3.25%, 10/29/29 | 595000 | 551940 |
|  |  | 6019345 |
| **Beverages — 0.3%** |  |  |
| Maple Parent Holdings Corp., 4.75%, 3/26/29<sup>(1)</sup> | 80000 | 80005 |
| Maple Parent Holdings Corp., 5.05%, 3/26/31<sup>(1)</sup> | 200000 | 199236 |
|  |  | 279241 |
| **Biotechnology — 0.2%** |  |  |
| Genmab AS/Genmab Finance LLC, 7.25%, 12/15/33<sup>(1)</sup> | 200000 | 209529 |
| **Broadline Retail — 0.9%** |  |  |
| Amazon.com, Inc., 4.55%, 3/13/33 | 500000 | 495333 |
| Wayfair LLC, 6.75%, 11/15/32<sup>(1)</sup> | 400000 | 403357 |
|  |  | 898690 |
| **Building Products — 0.8%** |  |  |
| Builders FirstSource, Inc., 5.00%, 3/1/30<sup>(1)</sup> | 211000 | 205648 |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 455000 | 419443 |
| Standard Building Solutions, Inc., 6.50%, 8/15/32<sup>(1)</sup> | 51000 | 51071 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Standard Industries, Inc., 4.375%, 7/15/30<sup>(1)</sup> | $119000 | $112238 |
|  |  | 788400 |
| **Capital Markets — 4.8%** |  |  |
| Apollo Debt Solutions BDC, 5.20%, 12/8/28<sup>(1)</sup> | 235000 | 232175 |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 106000 | 105880 |
| Blackstone Private Credit Fund, 3.25%, 3/15/27 | 520000 | 507147 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 259000 | 255289 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 350000 | 347282 |
| Blue Owl Credit Income Corp., 7.75%, 9/16/27 | 160000 | 162312 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29<sup>(2)</sup> | 420000 | 430175 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28<sup>(2)</sup> | 421000 | 416309 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 253000 | 254350 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 271000 | 253891 |
| Goldman Sachs BDC, Inc., 5.10%, 1/28/29 | 110000 | 106886 |
| Goldman Sachs Private Credit Corp., 5.05%, 2/23/28<sup>(1)</sup> | 225000 | 221672 |
| Golub Capital BDC, Inc., 2.05%, 2/15/27 | 181000 | 175381 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 293000 | 299921 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 231000 | 227892 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 140000 | 136475 |
| HPS Corporate Lending Fund, 5.15%, 4/2/29<sup>(1)</sup> | 110000 | 106932 |
| HPS Corporate Lending Fund, 6.25%, 9/30/29 | 96000 | 95888 |
| Jefferies Financial Group, Inc., 5.50%, 2/15/36 | 236000 | 226650 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 398000 | 387726 |
|  |  | 4950233 |
| **Chemicals — 0.7%** |  |  |
| Celanese U.S. Holdings LLC, 7.00%, 2/15/31 | 385000 | 395610 |
| CompoSecure Holdings LLC, 5.625%, 2/1/33<sup>(1)</sup> | 365000 | 356850 |
|  |  | 752460 |
| **Commercial Services and Supplies — 0.2%** |  |  |
| Williams Scotsman, Inc., 6.625%, 6/15/29<sup>(1)</sup> | 260000 | 263125 |
| **Construction and Engineering — 0.3%** |  |  |
| Brand Industrial Services, Inc., 10.375%, 8/1/30<sup>(1)</sup> | 315000 | 288276 |
| **Construction Materials — 0.3%** |  |  |
| Quikrete Holdings, Inc., 6.75%, 3/1/33<sup>(1)</sup> | 270000 | 274432 |
| **Consumer Finance — 0.9%** |  |  |
| Ally Financial, Inc., 8.00%, 11/1/31 | 173000 | 192132 |
| Stellantis Financial Services U.S. Corp., 4.95%, 9/15/28<sup>(1)</sup> | 490000 | 487421 |
| Takeoff Merger Sub, Inc., 4.85%, 3/24/31<sup>(1)</sup> | 225000 | 222273 |
|  |  | 901826 |
| **Consumer Staples Distribution & Retail — 0.1%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.50%, 3/31/31<sup>(1)</sup> | 140000 | 138589 |
| **Containers and Packaging — 0.1%** |  |  |
| Amcor Flexibles North America, Inc., 5.125%, 3/12/36 | 125000 | 121584 |
| **Diversified REITs — 3.2%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 480000 | 432915 |
| Brandywine Operating Partnership LP, 8.30%, 3/15/28 | 130000 | 132408 |
| Brandywine Operating Partnership LP, 8.875%, 4/12/29 | 298000 | 302809 |
| Global Net Lease, Inc., 4.50%, 9/30/28<sup>(1)</sup> | 475000 | 460526 |
| GLP Capital LP/GLP Financing II, Inc., 5.625%, 3/1/36 | 155000 | 150896 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 320000 | 309576 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 65000 | 59283 |
| Kilroy Realty LP, 2.50%, 11/15/32 | 65000 | 52959 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | $32000 | $33537 |
| Piedmont Operating Partnership LP, 5.625%, 1/15/33 | 385000 | 374339 |
| Trust 2401, 7.70%, 1/23/32<sup>(1)</sup> | 416000 | 445407 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> | 283000 | 271688 |
| Vornado Realty LP, 5.75%, 2/1/33 | 270000 | 264930 |
|  |  | 3291273 |
| **Diversified Telecommunication Services — 0.4%** |  |  |
| Level 3 Financing, Inc., 7.00%, 3/31/34<sup>(1)</sup> | 385594 | 394978 |
| **Electric Utilities — 3.3%** |  |  |
| Comision Federal de Electricidad, 6.05%, 1/28/34<sup>(1)</sup> | 200000 | 194070 |
| DTE Electric Co., 5.55%, 3/1/56 | 40000 | 38705 |
| Emera U.S. Finance LLC, 5.20%, 4/1/33 | 64000 | 63668 |
| Emera U.S. Finance LLC, VRN, 6.65%, 10/1/56 | 272000 | 272106 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 651000 | 652344 |
| Empresas Publicas de Medellin ESP, 4.25%, 7/18/29<sup>(1)</sup> | 200000 | 186133 |
| Entergy Louisiana LLC, 4.90%, 4/15/36 | 40000 | 39037 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> | 338000 | 337796 |
| ITC Holdings Corp., 5.50%, 4/15/36<sup>(1)(3)</sup> | 64000 | 64213 |
| Palomino Funding Trust I, 7.23%, 5/17/28<sup>(1)</sup> | 250000 | 261300 |
| Puget Energy, Inc., VRN, 7.00%, 9/15/56<sup>(1)</sup> | 141000 | 139970 |
| Puget Energy, Inc., VRN, 7.25%, 9/15/56<sup>(1)</sup> | 141000 | 140470 |
| Sierra Pacific Power Co., VRN, 6.375%, 9/15/56 | 144000 | 142866 |
| Southern Co., VRN, 6.00%, 4/1/58 | 391000 | 393095 |
| VoltaGrid LLC, 7.375%, 11/1/30<sup>(1)</sup> | 225000 | 232486 |
| Xcel Energy, Inc., VRN, 5.75%, 12/3/56 | 276000 | 269508 |
|  |  | 3427767 |
| **Electrical Equipment — 0.0%** |  |  |
| WESCO Distribution, Inc., 5.50%, 4/15/34<sup>(1)</sup> | 40000 | 39494 |
| **Entertainment — 0.7%** |  |  |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 | 294000 | 290399 |
| Discovery Global Holdings, Inc., 5.05%, 3/15/42 | 481000 | 318088 |
| OAK-Eagle Acquireco, Inc., 7.25%, 7/1/33<sup>(1)(3)</sup> | 49000 | 50800 |
| OAK-Eagle Acquireco, Inc., 8.75%, 7/1/34<sup>(1)(3)</sup> | 33000 | 34569 |
|  |  | 693856 |
| **Financial Services — 1.6%** |  |  |
| Antares Holdings LP, 7.95%, 8/11/28<sup>(1)</sup> | 255000 | 264488 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> | 120000 | 121696 |
| Atlas Warehouse Lending Co. LP, 4.625%, 11/15/28<sup>(1)</sup> | 250000 | 246300 |
| Essent Group Ltd., 6.25%, 7/1/29 | 305000 | 315674 |
| NMI Holdings, Inc., 6.00%, 8/15/29 | 305000 | 312174 |
| PennyMac Financial Services, Inc., 7.125%, 11/15/30<sup>(1)</sup> | 241000 | 239680 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> | 105000 | 106034 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> | 90000 | 91079 |
|  |  | 1697125 |
| **Gas Utilities — 0.2%** |  |  |
| Grupo Energia Bogota SA ESP, 5.75%, 10/22/35<sup>(1)</sup> | 200000 | 191647 |
| **Ground Transportation — 0.5%** |  |  |
| Fedex Freight Holding Co., Inc., 4.65%, 3/15/31<sup>(1)</sup> | 239000 | 235011 |
| RXO, Inc., 6.375%, 5/15/31<sup>(1)</sup> | 330000 | 317463 |
|  |  | 552474 |
| **Health Care Equipment and Supplies — 0.6%** |  |  |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 590000 | 601937 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Health Care Providers and Services — 0.8%** | | |
| Acadia Healthcare Co., Inc., 5.00%, 4/15/29<sup>(1)</sup> | $395000 | $384892 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 152000 | 156753 |
| Humana, Inc., VRN, 6.625%, 9/15/56 | 113000 | 108632 |
| Surgery Center Holdings, Inc., 7.25%, 4/15/32<sup>(1)</sup> | 211000 | 207502 |
|  |  | 857779 |
| **Hotels, Restaurants and Leisure — 1.3%** |  |  |
| Caesars Entertainment, Inc., 4.625%, 10/15/29<sup>(1)</sup> | 469000 | 451333 |
| Caesars Entertainment, Inc., 7.00%, 2/15/30<sup>(1)</sup> | 108000 | 109386 |
| Carnival Corp., 6.125%, 2/15/33<sup>(1)</sup> | 458000 | 462823 |
| Light & Wonder International, Inc., 7.25%, 11/15/29<sup>(1)</sup> | 233000 | 237631 |
| Royal Caribbean Cruises Ltd., 6.00%, 2/1/33<sup>(1)</sup> | 100000 | 101023 |
|  |  | 1362196 |
| **Household Durables — 0.5%** |  |  |
| Ashton Woods USA LLC/Ashton Woods Finance Co., 6.875%, 8/1/33<sup>(1)</sup> | 160000 | 154594 |
| Taylor Morrison Communities, Inc., 5.75%, 11/15/32<sup>(1)</sup> | 54000 | 54112 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 285000 | 271645 |
|  |  | 480351 |
| **Independent Power and Renewable Electricity Producers — 0.2%** |  |  |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(1)</sup> | 258070 | 256418 |
| **Insurance — 1.2%** |  |  |
| Allianz SE, VRN, 6.35%, 9/6/53<sup>(1)</sup> | 200000 | 208317 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.00%, 12/31/32<sup>(1)</sup> | 140000 | 145360 |
| Asurion LLC/Asurion Co-Issuer, Inc., 8.375%, 2/1/34<sup>(1)</sup> | 85000 | 82584 |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 71000 | 71338 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 280000 | 270981 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 456000 | 445559 |
|  |  | 1224139 |
| **Interactive Media and Services — 1.0%** |  |  |
| Alphabet, Inc., 4.40%, 2/15/33 | 395000 | 390195 |
| Meta Platforms, Inc., 4.60%, 11/15/32 | 455000 | 450690 |
| Meta Platforms, Inc., 4.875%, 11/15/35 | 170000 | 166845 |
|  |  | 1007730 |
| **IT Services — 0.2%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 174000 | 169235 |
| **Machinery — 0.6%** |  |  |
| Allison Transmission, Inc., 5.875%, 12/1/33<sup>(1)</sup> | 380000 | 377877 |
| Chart Industries, Inc., 7.50%, 1/1/30<sup>(1)</sup> | 100000 | 104016 |
| Chart Industries, Inc., 9.50%, 1/1/31<sup>(1)</sup> | 184000 | 193417 |
|  |  | 675310 |
| **Media — 3.6%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 96000 | 95955 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30<sup>(1)</sup> | 290000 | 275356 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 3/1/31<sup>(1)(2)</sup> | 395000 | 402335 |
| Cox Communications, Inc., 5.70%, 6/15/33<sup>(1)</sup> | 177000 | 175575 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 262000 | 248229 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 285000 | 275431 |
| Gray Media, Inc., 7.25%, 8/15/33<sup>(1)</sup> | 265000 | 267236 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 445000 | 437887 |
| Nexstar Media, Inc., 6.50%, 9/15/33<sup>(1)</sup> | 278000 | 280286 |
| Nexstar Media, Inc., 7.25%, 4/15/34<sup>(1)(3)</sup> | 283000 | 284142 |
| Omnicom Group, Inc., 5.00%, 6/2/33 | 105000 | 102593 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Paramount Global, VRN, 6.25%, 2/28/57 | $273000 | $184275 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 345000 | 333220 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(1)</sup> | 379000 | 371646 |
|  |  | 3734166 |
| **Metals and Mining — 0.6%** |  |  |
| Cleveland-Cliffs, Inc., 7.50%, 9/15/31<sup>(1)</sup> | 109000 | 108824 |
| Cleveland-Cliffs, Inc., 7.375%, 5/1/33<sup>(1)</sup> | 236000 | 231065 |
| Commercial Metals Co., 5.75%, 11/15/33<sup>(1)</sup> | 330000 | 326839 |
|  |  | 666728 |
| **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 | 208514 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 7.00%, 7/15/31<sup>(1)</sup> | 613000 | 634088 |
|  |  | 842602 |
| **Multi-Utilities — 0.5%** |  |  |
| Sempra, VRN, 4.125%, 4/1/52 | 569000 | 553975 |
| **Oil, Gas and Consumable Fuels — 5.4%** |  |  |
| Antero Resources Corp., 5.40%, 2/1/36 | 159000 | 156465 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 260000 | 268742 |
| Cheniere Energy, Inc., 5.20%, 7/30/36<sup>(1)</sup> | 56000 | 55450 |
| Ecopetrol SA, 7.75%, 2/1/32 | 211000 | 213256 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 555000 | 555514 |
| Energy Transfer LP, 5.95%, 5/15/54 | 285000 | 267482 |
| Enterprise Products Operating LLC, VRN, 5.25%, 8/16/77 | 559000 | 554421 |
| Expand Energy Corp., 5.375%, 3/15/30 | 430000 | 433771 |
| Matador Resources Co., 6.50%, 4/15/32<sup>(1)</sup> | 428000 | 432973 |
| Occidental Petroleum Corp., 6.20%, 3/15/40 | 60000 | 61324 |
| Occidental Petroleum Corp., 4.10%, 2/15/47 | 65000 | 46710 |
| Occidental Petroleum Corp., 4.20%, 3/15/48 | 60000 | 45142 |
| Ovintiv, Inc., 7.20%, 11/1/31 | 139000 | 152809 |
| Ovintiv, Inc., 7.375%, 11/1/31 | 111000 | 122842 |
| Ovintiv, Inc., 7.10%, 7/15/53 | 105000 | 113979 |
| Permian Resources Operating LLC, 6.25%, 2/1/33<sup>(1)</sup> | 542000 | 552475 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 547000 | 523396 |
| PRIO Luxembourg Holding SARL, 6.75%, 10/15/30<sup>(1)</sup> | 200000 | 194800 |
| Sunoco LP, 7.00%, 5/1/29<sup>(1)</sup> | 258000 | 265123 |
| Valero Energy Corp., 5.15%, 3/10/36 | 114000 | 112421 |
| Venture Global Plaquemines LNG LLC, 6.125%, 12/15/30<sup>(1)</sup> | 335000 | 344707 |
| Venture Global Plaquemines LNG LLC, 6.75%, 1/15/36<sup>(1)</sup> | 161000 | 170628 |
|  |  | 5644430 |
| **Passenger Airlines — 1.4%** |  |  |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)(2)</sup> | 210000 | 211357 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 35 | 35 |
| Avianca Midco 2 PLC, 9.625%, 2/14/30<sup>(1)</sup> | 600000 | 561684 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 279000 | 264051 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 154000 | 155733 |
| United Airlines Holdings, Inc., 5.375%, 3/1/31 | 270000 | 264753 |
|  |  | 1457613 |
| **Personal Care Products — 0.5%** |  |  |
| Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 5.60%, 1/15/31<sup>(1)</sup> | 495000 | 479477 |
| **Pharmaceuticals — 0.2%** |  |  |
| 1261229 BC Ltd., 10.00%, 4/15/32<sup>(1)</sup> | 250000 | 256172 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal<br>Amount/Shares** | **Value** |
| **Real Estate Management and Development — 0.6%** | | | |
| Arbor Realty SR, Inc., 8.50%, 12/15/28<sup>(1)(2)</sup> |  | $190000 | $186804 |
| Forestar Group, Inc., 6.50%, 3/15/33<sup>(1)</sup> |  | 405000 | 400758 |
|  |  |  | 587562 |
| **Semiconductors and Semiconductor Equipment — 0.3%** |  |  |  |
| Micron Technology, Inc., 5.30%, 1/15/31 |  | 275000 | 287941 |
| **Software — 1.7%** |  |  |  |
| AppLovin Corp., 5.375%, 12/1/31 |  | 260000 | 262645 |
| Oracle Corp., 4.45%, 9/26/30 |  | 170000 | 163869 |
| Oracle Corp., 4.95%, 2/4/31 |  | 160000 | 156605 |
| Oracle Corp., 4.80%, 9/26/32 |  | 254000 | 241972 |
| Oracle Corp., 5.35%, 5/4/33 |  | 230000 | 223982 |
| Salesforce, Inc., 4.90%, 9/15/31 |  | 395000 | 394534 |
| SS&C Technologies, Inc., 6.50%, 6/1/32<sup>(1)</sup> |  | 343000 | 343230 |
|  |  |  | 1786837 |
| **Specialized REITs — 0.5%** |  |  |  |
| SBA Communications Corp., 3.125%, 2/1/29 |  | 593000 | 562268 |
| **Specialty Retail — 0.8%** |  |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> |  | 26000 | 26357 |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(1)</sup> |  | 370000 | 375056 |
| PetSmart LLC/PetSmart Finance Corp., 7.50%, 9/15/32<sup>(1)</sup> |  | 390000 | 392190 |
|  |  |  | 793603 |
| **Trading Companies and Distributors — 0.4%** |  |  |  |
| Herc Holdings, Inc., 7.25%, 6/15/33<sup>(1)</sup> |  | 456000 | 467670 |
| **TOTAL CORPORATE BONDS** <br>(Cost $53,363,090) |  |  | **52948499** |
| **ASSET-BACKED SECURITIES — 16.4%** |  |  |  |
| ACM Auto Trust, Series 2025-2A, Class A, SEQ, 5.55%, 6/20/28<sup>(1)</sup> |  | 248253 | 248609 |
| ACM Auto Trust, Series 2025-2A, Class B, 7.25%, 2/20/32<sup>(1)</sup> |  | 261000 | 262278 |
| ACM Auto Trust, Series 2025-3A, Class B, 6.08%, 7/20/32<sup>(1)</sup> |  | 366000 | 364208 |
| ACM Auto Trust, Series 2025-4A, Class A, SEQ, 5.87%, 5/20/30<sup>(1)</sup> |  | 205497 | 205993 |
| AMCR ABS Trust, Series 2026-A, Class A, SEQ, 5.52%, 5/18/33<sup>(1)(3)</sup> |  | 242621 | 242614 |
| Aqua Finance Issuer Trust, Series 2025-B, Class D, 6.16%, 5/17/51<sup>(1)</sup> |  | 235630 | 237335 |
| Avant Loans Funding Trust, Series 2026-REV1, Class D, 5.56%, 5/15/36<sup>(1)</sup> |  | 335000 | 332012 |
| Barclays Mortgage Loan Trust, Series 2026-CES1, Class A2, 5.15%, 1/25/56<sup>(1)</sup> |  | 477000 | 469581 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B, 3.45%, 7/15/46<sup>(1)</sup> |  | 155055 | 148118 |
| Bluepeak ABS Issuer LLC, Series 2025-1A, Class A2, SEQ, 5.86%, 12/20/55<sup>(1)</sup> |  | 242729 | 245984 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> |  | 57298 | 57027 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> |  | 479526 | 458515 |
| Cherry Securitization Trust, Series 2025-1A, Class B, 6.53%, 11/15/32<sup>(1)</sup> |  | 486000 | 490613 |
| CLI Funding VIII LLC, Series 2022-1A, Class B, 3.12%, 1/18/47<sup>(1)</sup> |  | 390273 | 355140 |
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52<sup>(1)</sup> | CAD | 200000 | 141763 |
| Compass Datacenters Issuer III LLC, Series 2026-1A, Class A23, SEQ, 5.44%, 2/25/56<sup>(1)</sup> |  | $436428 | 428371 |
| Concord Music Royalties LLC, Series 2025-1A, Class A2, SEQ, 5.51%, 7/20/75<sup>(1)</sup> |  | 343000 | 343980 |
| Continental Finance Credit Card ABS Master Trust, Series 2022-A, Class A, SEQ, 6.19%, 10/15/30<sup>(1)</sup> |  | 55187 | 55248 |
| CyrusOne Data Centers Issuer I LLC, Series 2024-2A, Class A2, SEQ, 4.50%, 5/20/49<sup>(1)</sup> |  | 200000 | 194649 |
| DataBank Issuer LLC, Series 2023-1A, Class A2, SEQ, 5.12%, 2/25/53<sup>(1)</sup> |  | 408000 | 405916 |
| DataBank Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.81%, 2/25/56<sup>(1)</sup> |  | 399000 | 397362 |
| EDI ABS Issuer 1 LLC, Series 2025-1A, Class B, 4.55%, 7/25/55<sup>(1)</sup> |  | 191000 | 176982 |
| FinBe USA Trust, Series 2025-1A, Class B, 6.60%, 12/16/30<sup>(1)</sup> |  | 393000 | 392464 |
| FIP Master Funding LLC, Series 2026-1A, Class A5, SEQ, 5.39%, 3/15/56<sup>(1)</sup> |  | 391066 | 390998 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(1)</sup> |  | 313000 | 311564 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> | $159547 | $127800 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.26%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(1)</sup> | 183832 | 184275 |
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(1)</sup> | 101371 | 103579 |
| JP Morgan Mortgage Trust, Series 2025-CES7, Class A1A, 5.06%, 4/25/56<sup>(1)</sup> | 570513 | 568272 |
| Kobalt Music Assets LP, Series 2024-1A, Class A2, SEQ, 6.625%, 4/7/64<sup>(1)</sup> | 220000 | 222604 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> | 383000 | 382927 |
| Luxury Lease Partners Auto Lease Trust, Series 2025-A, Class A, SEQ, 5.51%, 3/15/32<sup>(1)</sup> | 206898 | 206824 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> | 366235 | 368558 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> | 187085 | 188382 |
| M&T Bank RV Trust, Series 2026-1A, Class A, SEQ, 4.35%, 1/15/46<sup>(1)</sup> | 603927 | 598263 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41%, 9/15/31<sup>(1)</sup> | 326000 | 327192 |
| Mosaic Solar Loan Trust, Series 2021-3A, Class B, 1.92%, 6/20/52<sup>(1)</sup> | 403936 | 292500 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> | 133717 | 127946 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 400000 | 257752 |
| NP SPE IX LP, Series 2019-1A, Class A1, SEQ, 2.57%, 9/20/49<sup>(1)</sup> | 12702 | 12594 |
| Oportun Issuance Trust, Series 2026-A, Class D, 6.28%, 1/9/34<sup>(1)</sup> | 442000 | 440998 |
| Pawneee Equipment Receivables LLC, Series 2022-1, Class D, 7.23%, 7/17/28<sup>(1)</sup> | 252000 | 252589 |
| Purchasing Power Funding LLC, Series 2026-A, Class D, 5.40%, 8/15/30<sup>(1)</sup> | 430000 | 427088 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A3, SEQ, 6.67%, 6/25/44<sup>(1)</sup> | 475000 | 480085 |
| RCKT Trust, Series 2025-1A, Class D, 5.42%, 7/25/34<sup>(1)</sup> | 179000 | 178712 |
| Regional Management Issuance Trust, Series 2025-1, Class B, 5.53%, 4/17/34<sup>(1)</sup> | 200000 | 201441 |
| Research-Driven Pagaya Motor Asset Trust, Series 2026-1A, Class C, 5.69%, 1/25/35<sup>(1)</sup> | 252000 | 250470 |
| RNL PH Owner LLC, Series 2026-1A, Class C, 5.59%, 3/20/56<sup>(1)</sup> | 391558 | 386282 |
| Scalelogix ABS U.S. Issuer LLC, Series 2025-1A, Class B, 6.16%, 7/25/55<sup>(1)</sup> | 340000 | 334920 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 307000 | 312736 |
| Stack Infrastructure Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.00%, 3/27/56<sup>(1)</sup> | 381348 | 367722 |
| Subway Funding LLC, Series 2024-1A, Class A2I, SEQ, 6.03%, 7/30/54<sup>(1)</sup> | 235025 | 236712 |
| United Auto Credit Securitization Trust, Series 2026-1, Class D, 5.65%, 7/10/31<sup>(1)</sup> | 346000 | 344191 |
| Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55<sup>(1)</sup> | 374037 | 380657 |
| VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.87%, 5/15/54<sup>(1)</sup> | 275000 | 282344 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 334416 | 339306 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(1)</sup> | 193920 | 196086 |
| Westgate Resorts LLC, Series 2026-1A, Class C, 6.08%, 10/20/39<sup>(1)</sup> | 250000 | 249976 |
| **TOTAL ASSET-BACKED SECURITIES** <br>(Cost $17,115,445) |  | **16989107** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 9.0%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 8.2%** |  |  |
| Barclays Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 12/25/65<sup>(1)</sup> | 535558 | 528829 |
| BRAVO Residential Funding Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> | 273309 | 263538 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A9A, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 130723 | 131223 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 251422 | 252514 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 129346 | 129522 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 21859 | 21823 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 213109 | 213421 |
| Citigroup Mortgage Loan Trust, Inc., Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 392968 | 395009 |
| COLT Mortgage Loan Trust, Series 2024-4, Class A2, 6.20%, 7/25/69<sup>(1)</sup> | 221278 | 223231 |
| Ellington Financial Mortgage Trust, Series 2024-CES1, Class A2, 5.80%, 1/26/60<sup>(1)</sup> | 228000 | 229623 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 128145 | 128381 |
| HOMES Trust, Series 2025-NQM3, Class A1, VRN, 5.63%, 2/25/70<sup>(1)</sup> | 604819 | 608247 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(1)</sup> | 185978 | 186899 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> | 451487 | 452271 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(1)</sup> | $332463 | $334115 |
| JP Morgan Mortgage Trust, Series 2024-1, Class A4, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 147381 | 147810 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 149231 | 149489 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 113188 | 113205 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 14685 | 14657 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 147813 | 148451 |
| JP Morgan Mortgage Trust, Series 2025-11, Class A4, SEQ, VRN, 5.50%, 5/25/56<sup>(1)</sup> | 383419 | 384088 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 275234 | 275920 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A2, VRN, 5.16%, 4/25/66<sup>(1)</sup> | 491000 | 486427 |
| OBX Trust, Series 2025-NQM21, Class A1B, 4.99%, 10/25/65<sup>(1)</sup> | 71161 | 70794 |
| PMT Loan Trust, Series 2025-J3, Class A8, VRN, 5.50%, 11/27/56<sup>(1)</sup> | 432958 | 433660 |
| PMT Loan Trust, Series 2025-J5, Class A5, VRN, 5.50%, 1/25/57<sup>(1)</sup> | 408677 | 409399 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 384925 | 385444 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 31167 | 31163 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 39524 | 39506 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 85653 | 85795 |
| Sequoia Mortgage Trust, Series 2025-12, Class A4, SEQ, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 571479 | 572489 |
| Sequoia Mortgage Trust, Series 2025-6, Class A5, SEQ, VRN, 5.50%, 7/25/55<sup>(1)</sup> | 248085 | 248407 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.06%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(1)</sup> | 84185 | 84756 |
| Verus Securitization Trust, Series 2021-R3, Class M1, SEQ, VRN, 2.41%, 4/25/64<sup>(1)</sup> | 315000 | 283909 |
|  |  | 8464015 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.8%** |  |  |
| FHLMC, Series 2022-DNA5, Class M1A, VRN, 6.61%, (30-day average SOFR plus 2.95%), 6/25/42<sup>(1)</sup> | 70675 | 71741 |
| FHLMC, Series 377, Class C4, IO, 2.00%, 1/25/51 | 2357706 | 310013 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 | 238350 | 40280 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 | 157825 | 26202 |
| FNMA, Series 2023-39, Class AI, IO, 2.00%, 7/25/52 | 2198529 | 276675 |
| FNMA, Series 2023-R05, Class 1M1, VRN, 5.56%, (30-day average SOFR plus 1.90%), 6/25/43<sup>(1)</sup> | 112156 | 112675 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 | 163528 | 22255 |
|  |  | 859841 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** <br>(Cost $9,275,041) |  | **9323856** |
| **CONVERTIBLE PREFERRED SECURITIES — 7.8%** |  |  |
| **Banks — 7.0%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% | 200000 | 216228 |
| Banco Davivienda SA, 6.65%<sup>(1)</sup> | 160000 | 141447 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> | 275000 | 271819 |
| Banco Santander SA, 4.75% | 400000 | 395858 |
| Banco Santander SA, 9.625% | 200000 | 215538 |
| Barclays PLC, 8.00% | 523000 | 541456 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 705000 | 735031 |
| Commerzbank AG, 7.50% | 200000 | 202886 |
| Credit Agricole SA, VRN, 4.75%<sup>(1)</sup> | 234000 | 222934 |
| HSBC Holdings PLC, 6.50% | 377000 | 376898 |
| HSBC Holdings PLC, 6.875% | 200000 | 201480 |
| HSBC Holdings PLC, VRN, 6.75%<sup>(2)</sup> | 200000 | 197920 |
| ING Groep NV, 4.875% | 568000 | 535748 |
| Lloyds Banking Group PLC, 8.00% | 458000 | 481152 |
| Skandinaviska Enskilda Banken AB, 6.875% | 600000 | 603781 |
| Societe Generale SA, 6.75%<sup>(1)</sup> | 200000 | 199358 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 500000 | 523064 |
| Standard Chartered PLC, 7.75%<sup>(1)</sup> | 202000 | 206738 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| Svenska Handelsbanken AB, 4.375% | 400000 | $393440 |
| Swedbank AB, 7.625% | 600000 | 617278 |
|  |  | 7280054 |
| **Capital Markets — 0.8%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 735000 | 783844 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES** <br>(Cost $8,131,282) |  | **8063898** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 4.2%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | $82000 | 67836 |
| Bank, Series 2020-BN26, Class D, 2.50%, 3/15/63<sup>(1)</sup> | 509000 | 378106 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 5.95%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(4)(5)</sup> | 172000 | 2266 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class E, VRN, 6.64%, (1-month SOFR plus 2.96%), 11/15/34<sup>(1)(4)(5)</sup> | 183000 | 1200 |
| BBCMS Mortgage Trust, Series 2019-C4, Class D, 3.25%, 8/15/52<sup>(1)</sup> | 109000 | 71165 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.09%, 7/15/51<sup>(1)</sup> | 128000 | 102013 |
| Benchmark Mortgage Trust, Series 2021-B31, Class D, 2.25%, 12/15/54<sup>(1)</sup> | 88000 | 58625 |
| Benchmark Mortgage Trust, Series 2024-V8, Class D, 4.00%, 7/15/57<sup>(1)</sup> | 440000 | 392078 |
| BPR Commercial Mortgage Trust, Series 2025-STAR, Class B, VRN, 5.02%, 11/5/42<sup>(1)</sup> | 394000 | 392139 |
| BX Commercial Mortgage Trust, Series 2020-VIVA, Class D, VRN, 3.55%, 3/11/44<sup>(1)</sup> | 350000 | 324439 |
| BX Trust, Series 2025-ARIA, Class B, VRN, 5.18%, 12/13/42<sup>(1)</sup> | 505000 | 506054 |
| BXP Trust, Series 2017-CC, Class D, VRN, 3.55%, 8/13/37<sup>(1)</sup> | 180000 | 150549 |
| Citigroup Commercial Mortgage Trust, Series 2020-555, Class E, VRN, 3.50%, 12/10/41<sup>(1)</sup> | 437000 | 392161 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.29%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 235000 | 232871 |
| CSAIL Commercial Mortgage Trust, Series 2019-C15, Class D, 3.00%, 3/15/52<sup>(1)</sup> | 169000 | 139729 |
| LQR Trust, Series 2025-CALI, Class C, VRN, 5.92%, (1-month SOFR plus 2.25%), 1/15/43 | 432000 | 429389 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 78000 | 64621 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.67%, 12/10/34<sup>(1)</sup> | 120000 | 120885 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.14%, 12/15/51<sup>(1)</sup> | 66000 | 60248 |
| Velocity Commercial Capital Loan Trust, Series 2025-5, Class M1, VRN, 5.94%, 12/25/55<sup>(1)</sup> | 241260 | 241062 |
| Velocity Commercial Capital Loan Trust, Series 2026-1, Class M2, VRN, 5.89%, 2/25/56<sup>(1)</sup> | 184043 | 181867 |
| Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class D, 2.50%, 2/15/53<sup>(1)</sup> | 72000 | 50149 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** <br>(Cost $4,660,622) |  | **4359452** |
| **PREFERRED SECURITIES — 3.5%** |  |  |
| **Banks — 1.2%** |  |  |
| Bank of America Corp., 4.375% | 245000 | 242165 |
| Citigroup, Inc., 7.625% | 508000 | 525632 |
| JPMorgan Chase & Co., 3.65% | 172000 | 171310 |
| KeyCorp, 5.00% | 275000 | 272876 |
|  |  | 1211983 |
| **Capital Markets — 0.5%** |  |  |
| Charles Schwab Corp., 4.00% | 484000 | 481022 |
| **Electric Utilities — 0.3%** |  |  |
| NRG Energy, Inc., 10.25%<sup>(1)</sup> | 297000 | 320560 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |
| Vistra Corp., 8.00%<sup>(1)</sup> | 400000 | 404486 |
| **Multi-Utilities — 0.4%** |  |  |
| Dominion Energy, Inc., 4.35% | 446000 | 439321 |
| **Oil, Gas and Consumable Fuels — 0.5%** |  |  |
| Energy Transfer LP, 6.50% | 317000 | 316627 |
| Energy Transfer LP, 6.625% | 163000 | 163146 |
|  |  | 479773 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Trading Companies and Distributors — 0.2%** | | |
| Air Lease Corp., 4.65% | 270000 | $269509 |
| **TOTAL PREFERRED SECURITIES** <br>(Cost $3,607,526) |  | **3606654** |
| **U.S. TREASURY SECURITIES — 2.4%** |  |  |
| U.S. Treasury Bonds, 4.625%, 11/15/55 | $400000 | 382250 |
| U.S. Treasury Notes, 4.625%, 9/15/26<sup>(6)</sup> | 300000 | 301199 |
| U.S. Treasury Notes, 3.875%, 6/15/28<sup>(6)</sup> | 1400000 | 1402078 |
| U.S. Treasury Notes, 4.875%, 10/31/30<sup>(6)</sup> | 400000 | 415633 |
| **TOTAL U.S. TREASURY SECURITIES** <br>(Cost $2,495,690) |  | **2501160** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 2.3%** |  |  |
| **Argentina — 0.4%** |  |  |
| Ciudad Autonoma De Buenos Aires/Government Bonds, 7.80%, 11/26/33<sup>(1)</sup> | 400000 | 405916 |
| **Colombia — 0.7%** |  |  |
| Colombia Government International Bonds, 6.125%, 1/21/31 | 500000 | 492500 |
| Colombia Government International Bonds, 7.75%, 11/7/36 | 200000 | 204790 |
|  |  | 697290 |
| **Romania — 0.4%** |  |  |
| Romania Government International Bonds, 5.75%, 7/4/36<sup>(1)</sup> | 500000 | 464929 |
| **Saudi Arabia — 0.5%** |  |  |
| Saudi Government International Bonds, 4.875%, 1/12/36<sup>(1)</sup> | 550000 | 536726 |
| **Trinidad — 0.3%** |  |  |
| Trinidad & Tobago Government International Bonds, 6.50%, 1/28/36<sup>(1)</sup> | 280000 | 278880 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES** <br>(Cost $2,414,571) |  | **2383741** |
| **MUNICIPAL SECURITIES — 1.3%** |  |  |
| Build NYC Resource Corp. Rev., (RiverSpring Health Senior Living, Inc. Obligated Group), 7.00%, 12/15/30 <sup>(1)</sup> | 855000 | 848734 |
| Florida Local Government Finance Commission Rev., (Ponte Vedra Pine Co. LLC Obligated Group), 6.75%, 11/15/30 <sup>(1)</sup> | 445000 | 445707 |
| University of California College of the Law San Francisco Rev., 5.99%, 8/1/50 (BAM) | 20000 | 20094 |
| University of California College of the Law San Francisco Rev., 6.09%, 8/1/55 (BAM) | 25000 | 25216 |
| **TOTAL MUNICIPAL SECURITIES** <br>(Cost $1,345,000) |  | **1339751** |
| **EXCHANGE-TRADED FUNDS — 0.4%** |  |  |
| State Street SPDR Bloomberg Convertible Securities ETF<sup>(2)</sup> <br>(Cost $405,196) | 4552 | **416599** |
| **BANK LOAN OBLIGATIONS**<sup>(7)</sup> **— 0.4%** |  |  |
| **Passenger Airlines — 0.4%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.00%, (6-month SOFR plus 2.25%), 2/15/28 <br>(Cost $392,975) | $397700 | **388752** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.3%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.14%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | 77667 | 77669 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 5.93%, (1-month SOFR plus 2.26%), 9/15/35<sup>(1)</sup> | 148068 | 148096 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 5.61%, (3-month SOFR plus 1.96%), 11/15/28<sup>(1)</sup> | 159475 | 159485 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** <br>(Cost $380,310) |  | **385250** |
| **SHORT-TERM INVESTMENTS — 1.9%** |  |  |
| **Money Market Funds — 1.2%** |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(8)</sup> | 1228363 | 1228363 |

---

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount/Shares** | **Value** |
| **Repurchase Agreements — 0.7%** | | |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.375%, 8/15/50, valued at $717,102), at 3.66%, dated 3/31/26, due 4/1/26 (Delivery value $703,071) |  | $703000 |
| **TOTAL SHORT-TERM INVESTMENTS** <br>(Cost $1,931,363) |  | **1931363** |
| **TOTAL INVESTMENT SECURITIES — 100.9%** <br>(Cost $105,518,111) |  | **104638082** |
| **OTHER ASSETS AND LIABILITIES — (0.9)%** |  | **(951991)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**103686091** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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 | 145939 | CAD | 197751 | Citibank NA | 6/17/26 | $3311 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 14 | June 2026 | $2904234 | $5590 |
| U.S. Treasury 5-Year Notes | 24 | June 2026 | 2596313 | 11344 |
| U.S. Treasury 10-Year Notes | 61 | June 2026 | 6773859 | (113432) |
| U.S. Treasury 10-Year Ultra Notes | 114 | June 2026 | 12940781 | (289524) |
| U.S. Treasury Long Bonds | 6 | June 2026 | 683250 | (19066) |
| U.S. Treasury Ultra Bonds | 15 | June 2026 | 1748438 | (55345) |
|  |  |  | $27646875 | $(460433) |

---

^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**<sup>‡</sup> | **Fixed Rate <br>Received <br>(Paid)<br>Quarterly** | **Termination <br>Date** | **Notional <br>Amount** | **Premiums Paid (Received)** | **Unrealized <br>Appreciation <br>(Depreciation)** | **Value^** |
| Markit CDX North America High Yield Index Series 45 | Sell | 5.00% | 12/20/30 | $4158000 | $233493 | $(7596) | $225897 |

---

‡The maximum potential amount the fund could be required to deliver as a seller of credit protection if a credit event occurs as defined under the terms of the agreement is the notional amount. The maximum potential amount may be partially offset by any recovery values of the reference entities and upfront payments received upon entering into the agreement.

^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.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** | **INTEREST RATE SWAP AGREEMENTS** |
| **Counterparty** | **Floating <br>Rate Index** | **Pay/Receive Floating Rate Index at Termination** | **Fixed Rate** | **Termination <br>Date** | **Notional <br>Amount** | **Notional <br>Amount** | **Value^** |
| Morgan Stanley | BZDIOVRA | Pay | 12.98% | 1/2/31 | BRL | 7000000 | $(42503) |

---

^Amount represents value and unrealized appreciation (depreciation).

------

Schedule of Investments - Multisector Income Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| BAM | – | Build America Mutual Assurance Corp. |
| BRL | – | Brazilian Real |
| BZDIOVRA | – | Brazil Interbank Deposit Rate |
| CAD | – | Canadian Dollar |
| 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 |
| 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 $66,901,378, which represented 64.5% 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 $1,384,838. 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)Security is in default.

(5)Non-income producing.

(6)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 $1,130,238.

(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.

(8)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $1,424,329, which includes securities collateral of $195,966.

------

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 |  | $52948499 |  |
| Asset-Backed Securities |  | 16989107 |  |
| Collateralized Mortgage Obligations |  | 9323856 |  |
| Convertible Preferred Securities |  | 8063898 |  |
| Commercial Mortgage-Backed Securities |  | 4359452 |  |
| Preferred Securities |  | 3606654 |  |
| U.S. Treasury Securities |  | 2501160 |  |
| Sovereign Governments and Agencies |  | 2383741 |  |
| Municipal Securities |  | 1339751 |  |
| Exchange-Traded Funds | $416599 |  |  |
| Bank Loan Obligations |  | 388752 |  |
| Collateralized Loan Obligations |  | 385250 |  |
| Short-Term Investments | 1228363 | 703000 |  |
|  | $1644962 | $102993120 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $16934 |  |  |
| Swap Agreements |  | $225897 |  |
| Forward Foreign Currency Exchange Contracts |  | 3311 |  |
|  | $16934 | $229208 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $477367 |  |  |
| Swap Agreements |  | $42503 |  |
|  | $477367 | $42503 |  |

---

**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\* |  |  | $58142 | $58142 |
| &nbsp;&nbsp;Receivable for variation margin on swap agreements\* | $37556 |  |  | 37556 |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts |  | $3311 |  | 3311 |
|  |  |  |  | $99009 |
| **Liability Derivatives:** |  |  |  |  |
| &nbsp;&nbsp;Swap agreements  |  |  | $42503 | $42503 |

---

\*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 - Multisector Income Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **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 |  | $(5536) |  | $(5536) |
| &nbsp;&nbsp;Futures contract transactions |  |  | $827610 | 827610 |
| &nbsp;&nbsp;Swap agreement transactions | $(22451) |  |  | (22451) |
|  |  |  |  | $799623 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $3335 |  | $3335 |
| &nbsp;&nbsp;Futures contracts |  |  | $(583459) | (583459) |
| &nbsp;&nbsp;Swap agreements | $(51256) |  | (42503) | (93759) |
|  |  |  |  | $(673883) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Prime Money Market Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**COMMERCIAL PAPER**<sup>(1)</sup> **— 47.4%** | **Principal Amount** | **Value** |
| Bank of Montreal, 1.25%, 9/15/26 | $8000000 | $7900806 |
| Bank of Montreal, 3.95%, 12/9/26<sup>(2)</sup> | 20000000 | 20000000 |
| Brigantine Funding Co. LLC, 4.06%, 5/1/26<sup>(2)</sup> | 15000000 | 14950000 |
| Cabot Trail Funding LLC, 3.87%, 5/13/26<sup>(2)</sup> | 1670000 | 1662557 |
| Chariot Funding LLC, 3.96%, 7/27/26<sup>(2)</sup> | 25000000 | 25000000 |
| Collateralized Commercial Paper V Co. LLC, 3.91%, 10/13/26<sup>(2)</sup> | 25000000 | 25000000 |
| Collateralized Commercial Paper V Co. LLC, VRN, 3.93%, (SOFR plus 0.30%), 7/14/26<sup>(2)</sup> | 25000000 | 25000000 |
| Collateralized Commercial Paper V Co. LLC, VRN, 3.98%, (SOFR plus 0.35%), 8/28/26<sup>(2)</sup> | 25000000 | 25000000 |
| Concord Minutemen Capital Co. LLC, 3.93%, 9/4/26<sup>(2)</sup> | 19750000 | 19750000 |
| Concord Minutemen Capital Co. LLC, VRN, 3.93%, (SOFR plus 0.30%), 7/21/26<sup>(2)</sup> | 25000000 | 25000000 |
| Endeavour Funding Co. LLC, 3.70%, 4/7/26<sup>(2)</sup> | 30000000 | 30000000 |
| Endeavour Funding Co. LLC, 3.95%, 4/10/26 (LOC: HSBC Bank PLC)<sup>(2)</sup> | 40000000 | 39961000 |
| Endeavour Funding Co. LLC, 3.83%, 7/15/26<sup>(2)</sup> | 7000000 | 6922825 |
| Fairway Finance Co. LLC, VRN, 3.92%, (SOFR plus 0.29%), 7/8/26<sup>(2)</sup> | 20000000 | 20000000 |
| Glencove Funding LLC, 3.65%, 4/1/26<sup>(2)</sup> | 50000000 | 50000000 |
| HQLA Funding LLC, 3.73%, 4/1/26<sup>(2)</sup> | 35000000 | 35000000 |
| HQLA Funding LLC, 4.03%, 8/28/26<sup>(2)</sup> | 50000000 | 50000000 |
| HQLA Funding LLC, 4.03%, 9/8/26<sup>(2)</sup> | 50000000 | 50000000 |
| Ionic Funding LLC, 3.89%, 6/4/26<sup>(2)</sup> | 40000000 | 39726933 |
| Ionic Funding LLC, 3.90%, 6/5/26<sup>(2)</sup> | 30000000 | 29791901 |
| Ionic Funding LLC, Series IIA, 3.88%, 5/22/26<sup>(2)</sup> | 50374000 | 50101173 |
| LMA-Americas LLC, 3.88%, 5/29/26<sup>(2)</sup> | 19500000 | 19379831 |
| Memorial Health System, 3.87%, 4/8/26<sup>(2)</sup> | 15000000 | 14988858 |
| Memorial Health System, 4.06%, 5/27/26<sup>(2)</sup> | 15000000 | 14906667 |
| National Bank of Canada, VRN, 3.93%, (SOFR plus 0.30%), 10/15/26<sup>(2)</sup> | 50000000 | 50000000 |
| Paradelle Funding LLC, 3.93%, 12/18/26<sup>(2)</sup> | 15000000 | 14578050 |
| Regatta Funding Co. LLC, 3.77%, 4/1/26<sup>(2)</sup> | 25000000 | 25000000 |
| Regatta Funding Co. LLC, 3.88%, 4/8/26<sup>(2)</sup> | 15300000 | 15288621 |
| Regatta Funding Co. LLC, VRN, 4.03%, (SOFR plus 0.40%), 7/8/26<sup>(2)</sup> | 25000000 | 25000000 |
| Reliance Funding Co. LLC, 3.85%, 4/10/26<sup>(2)</sup> | 14956000 | 14941792 |
| St. Lawrence Funding LLC, 3.65%, 4/1/26<sup>(2)</sup> | 50000000 | 50000000 |
| Toyota Credit Canada, Inc., 4.16%, 4/6/26<sup>(2)</sup> | 25000000 | 24985764 |
| Toyota Credit de Puerto Rico Corp., 3.89%, 8/17/26<sup>(2)</sup> | 25000000 | 24632000 |
| Toyota Credit de Puerto Rico Corp., 3.88%, 8/31/26<sup>(2)</sup> | 25000000 | 24595722 |
| Toyota Credit de Puerto Rico Corp., 4.09%, 9/21/26<sup>(2)</sup> | 20000000 | 19612672 |
| Verto Capital Compartment B, 3.70%, 4/1/26<sup>(2)</sup> | 90000000 | 90000000 |
| Verto Capital I Compartment C, 3.80%, 5/5/26<sup>(2)</sup> | 25000000 | 25000000 |
| Verto Capital I Compartment D, VRN, 3.71%, (SOFR plus 0.08%), 4/1/26<sup>(2)</sup> | 50000000 | 50000000 |
| Verto Capital I-A LLC, 3.70%, 4/1/26<sup>(2)</sup> | 50000000 | 50000000 |
| Washington Morgan Capital Co. LLC, VRN, 3.93%, (SOFR plus 0.30%), 5/7/26<sup>(2)</sup> | 37500000 | 37500000 |
| Washington Morgan Capital Co. LLC, VRN, 3.94%, (SOFR plus 0.31%), 5/19/26<sup>(2)</sup> | 17500000 | 17500000 |
| Washington Morgan Capital Co. LLC, VRN, 3.95%, (SOFR plus 0.32%), 6/16/26<sup>(2)</sup> | 25000000 | 25000000 |
| **TOTAL COMMERCIAL PAPER** |  | **1223677172** |
| **CORPORATE BONDS — 21.8%** |  |  |
| 412 Madison LLC, VRDN, 3.75%, 4/7/26 (LOC: FNMA) | 21220000 | 21220000 |
| 500 Columbia Place LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 9890000 | 9890000 |
| AHI Fund II LLC, VRDN, 3.77%, 4/7/26 (LOC: PNC Bank N.A.) | 5550000 | 5550000 |
| Allen C Stonecipher Life Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 22885000 | 22885000 |
| Anton Santa Cruz LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 15245000 | 15245000 |
| Bank of America NA, 5.53%, 8/18/26 | 10000000 | 10042608 |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| Barbour Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | $11000000 | $11000000 |
| Bellevue 10 Apartments LLC, VRDN, 3.79%, 4/7/26 (LOC: Northern Trust Company) | 12370000 | 12370000 |
| Campos Charitable Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 6245000 | 6245000 |
| Capital Source 31 LLC, VRDN, 4.20%, 4/7/26 (LOC: FHLB) | 9800000 | 9800000 |
| Champion Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4320000 | 4320000 |
| CIG DS1 LLC, 5.00%, 8/1/26 (LOC: Natixis)<sup>(2)</sup> | 25000000 | 25000000 |
| Cypress Bend Real Estate Development Co. LLC, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 8300000 | 8300000 |
| Foothill Garden NV Investors LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 12950000 | 12950000 |
| General Secretariat of the Organization of American States, VRDN, 3.77%, 4/7/26 (LOC: Bank of America N.A.) | 9570000 | 9570000 |
| Gold River 659 LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 12000000 | 12000000 |
| Invesco Senior Income Trust, VRDN, 3.78%, 4/7/26 (LOC: Toronto-Dominion Bank)<sup>(2)</sup> | 50000000 | 50000000 |
| Jefferson Exchange at Riverside LLC, Series B, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 28210000 | 28210000 |
| Jefferson Monrovia South LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 39385000 | 39385000 |
| JoEllyn G Slott Family Trust, Series 2023, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 6035000 | 6035000 |
| KDF Glenview LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 8000000 | 8000000 |
| Krawitz Family Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4000000 | 4000000 |
| Labcon North America, VRDN, 4.00%, 4/7/26 (LOC: BMO Bank N.A.) | 5280000 | 5280000 |
| Labcon North America, VRDN, 4.00%, 4/7/26 (LOC: BMO Bank N.A.) | 1815000 | 1815000 |
| Leo@cartersville LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 2100000 | 2100000 |
| Ness Family Partners LP, VRDN, 4.00%, 4/7/26 (LOC: BMO Bank N.A.) | 2770000 | 2770000 |
| Nicholas David Nurse 2020 Irrevocable Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 9780000 | 9780000 |
| Nuveen Credit Strategies Income Fund, VRDN, 3.77%, 4/7/26 (LOC: Societe Generale SA)<sup>(2)</sup> | 16000000 | 16000000 |
| Nuveen Preferred & Income Opportunities Fund, VRDN, 3.79%, 4/7/26 (LOC: Sumitomo Mitsui Banking)<sup>(2)</sup> | 20000000 | 20000000 |
| Nuveen Variable Rate Preferred & Income Fund, VRDN, 3.78%, 4/7/26 (LOC: Toronto-Dominion Bank)<sup>(2)</sup> | 42500000 | 42500000 |
| Richard & Allison Leigh Insurance Trust, VRDN, 3.90%, 4/7/26 (LOC: Commerce Bank (Missouri)) | 5575000 | 5575000 |
| Shil Park Irrevocable Life Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 15000000 | 15000000 |
| SRM Culver City LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 23280000 | 23280000 |
| SRMHayward LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 11800000 | 11800000 |
| Steve Welch Family Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 6265000 | 6265000 |
| Stobro Co. LP, VRDN, 3.82%, 4/7/26 (LOC: FHLB) | 5800000 | 5800000 |
| Sundowner Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 6000000 | 6000000 |
| Supreme Satori Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 5000000 | 5000000 |
| Synergy Colgan Creek LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 14030000 | 14030000 |
| Trinity Mills Multifamily I Owner LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 11070000 | 11070000 |
| Uptown Newport Building Owner LP, VRDN, 3.80%, 4/7/26 (LOC: Landesbank Hessen-Thuringen Girozentrale) | 16085000 | 16085000 |
| Valencia Grove II LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7900000 | 7900000 |
| World Changers Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 3575000 | 3575000 |
| **TOTAL CORPORATE BONDS** |  | **563642608** |
| **MUNICIPAL SECURITIES — 15.9%** |  |  |
| City & County of San Francisco COP, VRDN, 3.83%, 4/7/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 18000000 | 18000000 |
| Deutsche Bank Spears/Lifers Trust Rev., VRDN, 4.19%, 7/6/26 (LIQ FAC: Deutsche Bank A.G.)(GA: Deutsche Bank A.G.)<sup>(2)</sup> | 53755000 | 53755000 |
| Deutsche Bank Spears/Lifers Trust Rev., VRDN, Series DBE-8909, 4.19%, 7/6/26 (LIQ FAC: Deutsche Bank A.G.)(GA: Deutsche Bank A.G.)<sup>(2)</sup> | 36955000 | 36955000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2020-MIZ9043, 3.76%, 4/1/26 (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, 4.08%, 5/5/26 (LIQ FAC: Mizuho Capital Markets LLC)(LOC: Mizuho Bank Ltd.)<sup>(2)</sup> | 15852000 | 15852000 |
| Mizuho Floater/Residual Trust Rev., VRDN, Series 2024-MIZ9164TX, 3.87%, 5/5/26 (LIQ FAC: Mizuho Capital Markets LLC)(LOC: Mizuho Bank Ltd.)<sup>(2)</sup> | 24366188 | 24366188 |
| New York City GO, 4.12%, 8/1/26<sup>(3)</sup> | 15000000 | 14998500 |
| New York City Municipal Water Finance Authority Rev., (New York City Water & Sewer System), VRDN, 3.83%, 4/7/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 16000000 | 16000000 |
| New York State Dormitory Authority Rev., VRDN, 3.83%, 4/7/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 725000 | 725000 |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| New York State Dormitory Authority Rev., (State of New York Personal Income Tax), VRDN, Series 2016-XFT910, 3.83%, 4/7/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | $540000 | $540000 |
| New York State Housing Finance Agency Rev., (160 Madison Ave LLC), VRDN, 3.64%, 4/1/26 (LOC: Landesbank Hessen-Thueringen) | 6430000 | 6430000 |
| Santa Clara County GO, 5.00%, 8/1/26 | 10000000 | 10042223 |
| Taxable Municipal Funding Trust Rev., VRDN, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)(LIQ FAC: Barclays Bank PLC)<sup>(2)</sup> | 6125000 | 6125000 |
| Taxable Municipal Funding Trust Rev., VRDN, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 13750000 | 13750000 |
| Taxable Municipal Funding Trust Rev., VRDN, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 20855000 | 20855000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2024, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 3048000 | 3048000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2024, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 35971000 | 35971000 |
| Taxable Municipal Funding Trust Rev., VRDN, Series BTMFT-2025-004, 3.97%, 5/5/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 16240000 | 16240000 |
| Tender Option Bond Trust Receipts/Certificates GO, VRN, 3.90%, 6/11/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 19475000 | 19475000 |
| Tender Option Bond Trust Receipts/Certificates GO, VRN, 3.90%, 6/11/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 20040000 | 20040000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.77%, 4/7/26 (LOC: Barclays Bank PLC)<sup>(2)</sup> | 498699 | 498699 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.82%, 4/7/26 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 3500000 | 3500000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.82%, 4/7/26 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 3900000 | 3900000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.82%, 4/7/26 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 5625000 | 5625000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.83%, 4/7/26 (LOC: Royal Bank of Canada)<sup>(2)</sup> | 5000000 | 5000000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.91%, 4/7/26 (LIQ FAC: Mizhuho Capital Markets LLC)(LOC: Mizhuho Capital Markets LLC)<sup>(2)</sup> | 16795000 | 16795000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, 3.90%, 4/23/26 (LIQ FAC: Morgan Stanley Bank N.A.)<sup>(2)</sup> | 20000000 | 20000000 |
| Tender Option Bond Trust Receipts/Certificates Rev., VRDN, Series 2016-XFT907, 3.82%, 4/7/26 (LIQ FAC: JP Morgan Chase Bank N.A)<sup>(2)</sup> | 16000000 | 16000000 |
| **TOTAL MUNICIPAL SECURITIES** |  | **411986610** |
| **U.S. TREASURY SECURITIES**<sup>(1)</sup> **— 14.0%** |  |  |
| U.S. Treasury Bills, 3.69%, 3/18/27 | 70000000 | 67514698 |
| U.S. Treasury Notes, 2.375%, 4/30/26 | 10000000 | 9985507 |
| U.S. Treasury Notes, 4.875%, 4/30/26 | 10000000 | 10005751 |
| U.S. Treasury Notes, 0.75%, 8/31/26 | 25000000 | 24703125 |
| U.S. Treasury Notes, 3.75%, 8/31/26 | 25000000 | 25008564 |
| U.S. Treasury Notes, 4.625%, 10/15/26 | 30000000 | 30149038 |
| U.S. Treasury Notes, 4.25%, 3/15/27 | 15000000 | 15080666 |
| U.S. Treasury Notes, 4.50%, 4/15/27 | 125000000 | 125984455 |
| U.S. Treasury Notes, VRN, 3.80%, (3-month USBMMY plus 0.15%), 4/30/26 | 52280000 | 52280008 |
| **TOTAL U.S. TREASURY SECURITIES** |  | **360711812** |
| **CERTIFICATES OF DEPOSIT — 1.7%** |  |  |
| BNP Paribas SA, 3.80%, 7/13/26 | 115000 | 114941 |
| Toronto-Dominion Bank, 3.95%, 12/16/26<sup>(2)</sup> | 20000000 | 20000000 |
| Toronto-Dominion Bank, VRN, 3.93%, (SOFR plus 0.30%), 7/22/26<sup>(2)</sup> | 25000000 | 25000000 |
| **TOTAL CERTIFICATES OF DEPOSIT** |  | **45114941** |
| **TOTAL INVESTMENT SECURITIES — 100.8%** |  | **2605133143** |
| **OTHER ASSETS AND LIABILITIES — (0.8)%** |  | **(21547761)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**2583585382** |

---

------

Schedule of Investments - Prime Money Market Fund

---

| | | |
|:---|:---|:---|
| **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 $1,794,792,253, which represented 69.5% of total net assets.

(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.

**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

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 30.7%** | **Principal Amount/Shares** | **Value** |
| **Aerospace and Defense — 0.2%** | | |
| Honeywell Aerospace, Inc., 4.30%, 3/16/31<sup>(1)</sup> | $2412000 | $2386719 |
| **Automobiles — 1.4%** |  |  |
| Ford Motor Credit Co. LLC, 5.125%, 11/5/26 | 2950000 | 2956647 |
| Ford Motor Credit Co. LLC, 5.80%, 3/5/27 | 2700000 | 2715534 |
| General Motors Financial Co., Inc., 5.40%, 4/6/26 | 2810000 | 2810274 |
| Hyundai Capital America, 5.95%, 9/21/26<sup>(1)</sup> | 2265000 | 2279180 |
| Hyundai Capital America, 4.875%, 11/1/27<sup>(1)</sup> | 3410000 | 3425527 |
|  |  | 14187162 |
| **Banks — 5.7%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 2200000 | 1964570 |
| Bank of America Corp., VRN, 4.98%, 1/24/29 | 3420000 | 3447718 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 2218000 | 2279339 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 3759000 | 3938455 |
| Banque Federative du Credit Mutuel SA, 4.54%, 1/15/31<sup>(1)</sup> | 556000 | 548559 |
| DNB Bank ASA, VRN, 4.83%, 3/30/32<sup>(1)</sup> | 2530000 | 2524709 |
| Fifth Third Financial Corp., VRN, 5.98%, 1/30/30 | 2675000 | 2760716 |
| FNB Corp., VRN, 5.72%, 12/11/30 | 2509000 | 2525334 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 1740000 | 1738806 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 1650000 | 1673587 |
| Freedom Mortgage Holdings LLC, 6.875%, 5/1/31<sup>(1)</sup> | 2145000 | 2007469 |
| Huntington Bancshares, Inc., VRN, 4.62%, 1/28/32 | 2200000 | 2168563 |
| Morgan Stanley Private Bank NA, VRN, 4.21%, 2/8/30 | 1950000 | 1930516 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 50000 | 49855 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 2213000 | 2015618 |
| Toronto-Dominion Bank, 4.11%, 10/13/28 | 2965000 | 2949927 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 4861000 | 5017869 |
| Truist Bank, VRN, 4.67%, 5/20/27 | 2030000 | 2030099 |
| Truist Bank, VRN, 4.63%, 9/17/29 | 1520000 | 1507867 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 2105000 | 2123479 |
| Wells Fargo & Co., VRN, 4.18%, 1/23/30 | 3162000 | 3134473 |
| Western Alliance Bancorp, VRN, 3.00%, 6/15/31 | 3155000 | 3031103 |
| Zions Bancorp NA, VRN, 4.70%, 8/18/28 | 2304000 | 2284137 |
| Zions Bancorp NA, VRN, 4.48%, 2/9/29 | 3615000 | 3589354 |
|  |  | 57242122 |
| **Broadline Retail — 0.3%** |  |  |
| Amazon.com, Inc., 4.00%, 3/13/29 | 1390000 | 1383227 |
| Amazon.com, Inc., 4.25%, 3/13/31 | 1720000 | 1707711 |
|  |  | 3090938 |
| **Building Products — 0.3%** |  |  |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 2670000 | 2641288 |
| **Capital Markets — 4.9%** |  |  |
| Apollo Debt Solutions BDC, 5.20%, 12/8/28<sup>(1)</sup> | 1530000 | 1511605 |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 2133000 | 2130582 |
| Blackstone Private Credit Fund, 2.625%, 12/15/26 | 651000 | 637047 |
| Blackstone Private Credit Fund, 3.25%, 3/15/27 | 3625000 | 3535399 |
| Blackstone Secured Lending Fund, 2.75%, 9/16/26 | 2580000 | 2545641 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 3895000 | 3864754 |
| Blue Owl Credit Income Corp., 7.75%, 9/16/27 | 1460000 | 1481098 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28 | $1990000 | $1967827 |
| Citadel Finance LLC, 4.75%, 2/14/29<sup>(1)</sup> | 1740000 | 1706110 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 1000000 | 1005334 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 1594000 | 1493368 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 4/25/30 | 1870000 | 1929604 |
| Goldman Sachs Group, Inc., VRN, 4.52%, 1/21/32 | 2145000 | 2112937 |
| Goldman Sachs Private Credit Corp., 5.05%, 2/23/28<sup>(1)</sup> | 1570000 | 1546780 |
| Golub Capital BDC, Inc., 2.05%, 2/15/27 | 1626000 | 1575523 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 1290000 | 1272644 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 2875000 | 2854732 |
| HPS Corporate Lending Fund, 5.15%, 4/2/29<sup>(1)</sup> | 865000 | 840873 |
| Morgan Stanley, VRN, 4.13%, 10/18/29 | 3810000 | 3766576 |
| Morgan Stanley, VRN, 6.41%, 11/1/29 | 2380000 | 2484359 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 3808000 | 3709698 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 1710000 | 1686671 |
| State Street Corp., VRN, 3.03%, 11/1/34 | 3750000 | 3531048 |
|  |  | 49190210 |
| **Consumer Finance — 0.5%** |  |  |
| Avilease Capital Ltd., 4.75%, 11/12/30<sup>(1)</sup> | 2140000 | 2084660 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 645000 | 631149 |
| Takeoff Merger Sub, Inc., 4.50%, 3/24/29<sup>(1)</sup> | 1890000 | 1878196 |
| Takeoff Merger Sub, Inc., 4.85%, 3/24/31<sup>(1)</sup> | 775000 | 765608 |
|  |  | 5359613 |
| **Diversified REITs — 2.0%** |  |  |
| Equinix Asia Financing Corp. Pte. Ltd., 4.40%, 3/15/31 | 1870000 | 1831331 |
| Global Net Lease, Inc., 4.50%, 9/30/28<sup>(1)</sup> | 2710000 | 2627421 |
| Kilroy Realty LP, 4.25%, 8/15/29 | 4540000 | 4392109 |
| Kilroy Realty LP, 3.05%, 2/15/30 | 605000 | 551791 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 | 2626000 | 2752093 |
| Store Capital LLC, 4.95%, 2/11/31<sup>(1)</sup> | 3530000 | 3500972 |
| Vornado Realty LP, 2.15%, 6/1/26 | 4382000 | 4357562 |
|  |  | 20013279 |
| **Diversified Telecommunication Services — 0.5%** |  |  |
| AT&T, Inc., 7.30%, 8/15/26 | 2015000 | 2030284 |
| Frontier Communications Holdings LLC, 6.00%, 1/15/30<sup>(1)</sup> | 2755000 | 2773243 |
|  |  | 4803527 |
| **Electric Utilities — 0.7%** |  |  |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 | 2305000 | 2309760 |
| Monongahela Power Co., 3.55%, 5/15/27<sup>(1)</sup> | 4522000 | 4478910 |
|  |  | 6788670 |
| **Electrical Equipment — 0.0%** |  |  |
| WESCO Distribution, Inc., 5.25%, 4/15/31<sup>(1)</sup> | 228000 | 227209 |
| **Entertainment — 0.2%** |  |  |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 | 2149000 | 2122675 |
| **Financial Services — 2.1%** |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> | 1090000 | 1079520 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> | 2169000 | 2199658 |
| Atlas Warehouse Lending Co. LP, 4.625%, 11/15/28<sup>(1)</sup> | 2931000 | 2887619 |
| Corebridge Global Funding, 4.45%, 10/2/30<sup>(1)</sup> | 3585000 | 3517976 |
| Corebridge Global Funding, 4.55%, 1/9/31<sup>(1)</sup> | 2780000 | 2746129 |
| Essent Group Ltd., 6.25%, 7/1/29 | 2200000 | 2276993 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> | 3626000 | 3580425 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| NMI Holdings, Inc., 6.00%, 8/15/29 | $2270000 | $2323391 |
|  |  | 20611711 |
| **Ground Transportation — 0.2%** |  |  |
| Fedex Freight Holding Co., Inc., 4.65%, 3/15/31<sup>(1)</sup> | 2090000 | 2055117 |
| **Health Care Equipment and Supplies — 0.5%** |  |  |
| Baxter International, Inc., 4.45%, 2/15/29 | 3110000 | 3071839 |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | 1649000 | 1682364 |
|  |  | 4754203 |
| **Health Care Providers and Services — 1.5%** |  |  |
| Cardinal Health, Inc., 4.70%, 11/15/26 | 4320000 | 4328241 |
| Centene Corp., 4.25%, 12/15/27 | 1761000 | 1730851 |
| HCA, Inc., 5.25%, 6/15/26 | 5000000 | 5003022 |
| Universal Health Services, Inc., 1.65%, 9/1/26 | 3822000 | 3776793 |
|  |  | 14838907 |
| **Hotels, Restaurants and Leisure — 0.6%** |  |  |
| Airbnb, Inc., 4.40%, 3/16/29 | 2460000 | 2457194 |
| Marriott International, Inc., 5.45%, 9/15/26 | 3845000 | 3860491 |
|  |  | 6317685 |
| **Household Durables — 0.2%** |  |  |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(1)</sup> | 1980000 | 1986609 |
| **Insurance — 1.3%** |  |  |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 3535000 | 3551848 |
| Fortitude Global Funding, 4.625%, 10/6/28<sup>(1)</sup> | 1697000 | 1680488 |
| GA Global Funding Trust, 5.20%, 12/9/31<sup>(1)</sup> | 2865000 | 2808670 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 1270000 | 1229091 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 4100000 | 4006123 |
|  |  | 13276220 |
| **Interactive Media and Services — 0.3%** |  |  |
| Alphabet, Inc., 4.10%, 2/15/31 | 2640000 | 2622228 |
| **IT Services — 0.1%** |  |  |
| Kyndryl Holdings, Inc., 2.70%, 10/15/28 | 1559000 | 1442414 |
| **Life Sciences Tools and Services — 0.3%** |  |  |
| Illumina, Inc., 4.65%, 9/9/26 | 2661000 | 2661636 |
| **Media — 0.9%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.00%, 2/1/28<sup>(1)</sup> | 1570000 | 1558061 |
| Lamar Media Corp., 3.75%, 2/15/28 | 2885000 | 2807728 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 2710000 | 2666682 |
| Omnicom Group, Inc., 4.20%, 3/2/29 | 1350000 | 1335922 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 960000 | 927222 |
|  |  | 9295615 |
| **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> | 2659000 | 2750472 |
| **Multi-Utilities — 0.2%** |  |  |
| Ameren Corp., 5.70%, 12/1/26 | 2175000 | 2191025 |
| **Oil, Gas and Consumable Fuels — 2.9%** |  |  |
| Cenovus Energy, Inc., 4.65%, 3/20/31 | 2301000 | 2285874 |
| Diamondback Energy, Inc., 5.20%, 4/18/27 | 3970000 | 4002152 |
| Enbridge, Inc., 5.90%, 11/15/26 | 2435000 | 2455796 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 4010000 | 4013713 |
| Enterprise Products Operating LLC, VRN, 5.25%, 8/16/77 | 3000000 | 2975426 |
| Expand Energy Corp., 5.375%, 3/15/30 | 2595000 | 2617757 |
| Ovintiv, Inc., 7.20%, 11/1/31 | 777000 | 854189 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Ovintiv, Inc., 7.375%, 11/1/31 | $578000 | $639663 |
| Permian Resources Operating LLC, 6.25%, 2/1/33<sup>(1)</sup> | 2460000 | 2507542 |
| Targa Resources Corp., 4.35%, 1/15/29 | 1490000 | 1484095 |
| Targa Resources Corp., 4.35%, 4/15/31 | 1115000 | 1091877 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 1485000 | 1519476 |
| Venture Global Plaquemines LNG LLC, 6.125%, 12/15/30<sup>(1)</sup> | 1600000 | 1646362 |
| Western Midstream Operating LP, 4.80%, 3/1/31 | 1045000 | 1035004 |
|  |  | 29128926 |
| **Passenger Airlines — 0.1%** |  |  |
| American Airlines Pass-Through Trust, Class A, 3.70%, 4/1/28 | 103196 | 102854 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 24 | 24 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 1335000 | 1310675 |
|  |  | 1413553 |
| **Professional Services — 0.2%** |  |  |
| Concentrix Corp., 6.60%, 8/2/28 | 2540000 | 2525233 |
| **Semiconductors and Semiconductor Equipment — 0.3%** |  |  |
| Micron Technology, Inc., 5.30%, 1/15/31 | 2485000 | 2601939 |
| **Software — 1.5%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 2203000 | 2216289 |
| AppLovin Corp., 5.375%, 12/1/31 | 2325000 | 2348654 |
| Oracle Corp., 4.45%, 9/26/30 | 5444000 | 5247667 |
| Oracle Corp., 4.95%, 2/4/31 | 1735000 | 1698184 |
| Salesforce, Inc., 4.50%, 3/15/28 | 1800000 | 1801084 |
| Salesforce, Inc., 4.65%, 3/15/29 | 1870000 | 1874167 |
|  |  | 15186045 |
| **Specialized REITs — 0.3%** |  |  |
| SBA Communications Corp., 3.125%, 2/1/29 | 3264000 | 3094846 |
| **Specialty Retail — 0.2%** |  |  |
| Lowe's Cos., Inc., 3.10%, 5/3/27 | 1955000 | 1932181 |
| **TOTAL CORPORATE BONDS** <br>(Cost $310,031,818) |  | **308739977** |
| **U.S. TREASURY SECURITIES — 26.1%** |  |  |
| U.S. Treasury Inflation-Indexed Notes, 2.125%, 4/15/29 | 2628875 | 2699666 |
| U.S. Treasury Notes, 0.75%, 4/30/26<sup>(2)</sup> | 3000000 | 2992922 |
| U.S. Treasury Notes, 0.875%, 9/30/26 | 1000000 | 985962 |
| U.S. Treasury Notes, 4.625%, 10/15/26 | 5000000 | 5022875 |
| U.S. Treasury Notes, 4.25%, 3/15/27 | 10500000 | 10551675 |
| U.S. Treasury Notes, 3.875%, 7/31/27 | 14000000 | 14007109 |
| U.S. Treasury Notes, 3.375%, 2/29/28 | 8000000 | 7937500 |
| U.S. Treasury Notes, 3.875%, 3/31/28 | 18000000 | 18027422 |
| U.S. Treasury Notes, 3.875%, 6/15/28 | 82200000 | 82322016 |
| U.S. Treasury Notes, 4.00%, 6/30/28<sup>(2)</sup> | 1000000 | 1004336 |
| U.S. Treasury Notes, 3.375%, 9/15/28 | 20000000 | 19795312 |
| U.S. Treasury Notes, 3.50%, 2/15/29 | 23500000 | 23297129 |
| U.S. Treasury Notes, 3.50%, 3/15/29 | 68100000 | 67501465 |
| U.S. Treasury Notes, 4.375%, 12/31/29 | 6000000 | 6102305 |
| **TOTAL U.S. TREASURY SECURITIES** <br>(Cost $262,980,421) |  | **262247694** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 16.2%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 14.1%** |  |  |
| Arroyo Mortgage Trust, Series 2021-1R, Class A2, VRN, 1.48%, 10/25/48<sup>(1)</sup> | 634169 | 580130 |
| Arroyo Mortgage Trust, Series 2021-1R, Class A3, VRN, 1.64%, 10/25/48<sup>(1)</sup> | 502050 | 460002 |
| Barclays Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 12/25/65<sup>(1)</sup> | 4887585 | 4826176 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Bunker Hill Loan Depositary Trust, Series 2019-2, Class A2, SEQ, 3.08%, 7/25/49<sup>(1)</sup> | $175751 | $172843 |
| Chase Home Lending Mortgage Trust, Series 2024-10, Class A4, VRN, 6.00%, 10/25/55<sup>(1)</sup> | 1645334 | 1652945 |
| Chase Home Lending Mortgage Trust, Series 2024-3, Class A4, SEQ, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 2582225 | 2598374 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 2531562 | 2542552 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 597307 | 596567 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 1537784 | 1539874 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 275969 | 275511 |
| Chase Home Lending Mortgage Trust, Series 2025-10, Class A4A, VRN, 5.50%, 7/25/56<sup>(1)</sup> | 3268389 | 3273562 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, SEQ, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 4393251 | 4399772 |
| CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A11, 5.50%, 9/25/35 | 483 | 475 |
| Citigroup Mortgage Loan Trust, Series 2025-3, Class A11, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 1727354 | 1728890 |
| COLT Mortgage Loan Trust, Series 2026-2, Class A2, 5.09%, 3/25/71<sup>(1)</sup> | 3900000 | 3867106 |
| Credit Suisse Mortgage Trust, Series 2020-AFC1, Class A3, VRN, 3.51%, 2/25/50<sup>(1)</sup> | 323476 | 309644 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ4, Class A15, SEQ, VRN, 6.00%, 1/25/54<sup>(1)</sup> | 4660941 | 4683896 |
| GS Mortgage-Backed Securities Trust, Series 2023-PJ6, Class A15, SEQ, VRN, 6.00%, 4/25/54<sup>(1)</sup> | 2927605 | 2939410 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ1, Class A15, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 3011974 | 3018885 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6, Class A4, SEQ, VRN, 6.00%, 11/25/55<sup>(1)</sup> | 1918205 | 1927077 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, SEQ, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 2845109 | 2848329 |
| HOMES Trust, Series 2025-AFC3, Class A1, VRN, 4.93%, 8/25/60<sup>(1)</sup> | 2400968 | 2394395 |
| HOMES Trust, Series 2025-NQM3, Class A1, VRN, 5.63%, 2/25/70<sup>(1)</sup> | 5839635 | 5872732 |
| JP Morgan Mortgage Trust, Series 2014-5, Class A1, VRN, 2.53%, 10/25/29<sup>(1)</sup> | 18049 | 17878 |
| JP Morgan Mortgage Trust, Series 2019-5, Class A15, VRN, 4.00%, 11/25/49<sup>(1)</sup> | 215869 | 203402 |
| JP Morgan Mortgage Trust, Series 2020-5, Class A15, VRN, 3.00%, 12/25/50<sup>(1)</sup> | 2481629 | 2151016 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(1)</sup> | 2697043 | 2701727 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 1865394 | 1868616 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 997472 | 997617 |
| JP Morgan Mortgage Trust, Series 2024-12, Class A9, VRN, 6.15%, 6/25/55<sup>(1)</sup> | 1934062 | 1949387 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 685423 | 685237 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 393815 | 393101 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 1894690 | 1902877 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A1D, 5.50%, 11/25/55<sup>(1)</sup> | 1993917 | 1992449 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 2948061 | 2955415 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4A, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 3497388 | 3502043 |
| JP Morgan Mortgage Trust, Series 2025-NQM2, Class A2, 5.77%, 9/25/65<sup>(1)</sup> | 3353569 | 3366608 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A1, VRN, 4.89%, 4/25/66<sup>(1)</sup> | 5058311 | 5033036 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-1, Class A3, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 1316833 | 1323520 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 4374642 | 4376004 |
| PMT Loan Trust, Series 2025-J3, Class A8, VRN, 5.50%, 11/27/56<sup>(1)</sup> | 4329578 | 4336595 |
| PMT Loan Trust, Series 2025-J5, Class A5, VRN, 5.50%, 1/25/57<sup>(1)</sup> | 3822337 | 3829087 |
| PRKCM Trust, Series 2024-HOME1, Class A1, 6.43%, 5/25/59<sup>(1)</sup> | 1642211 | 1658181 |
| PRKCM Trust, Series 2026-AFC1, Class A1, VRN, 4.68%, 2/25/61<sup>(1)</sup> | 3731612 | 3695172 |
| Provident Funding Mortgage Trust, Series 2025-1, Class A3, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 3889396 | 3894857 |
| Provident Funding Mortgage Trust, Series 2025-2, Class A4, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 2306753 | 2309419 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 2839667 | 2843612 |
| Provident Funding Mortgage Trust, Series 2025-4, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 2508568 | 2513017 |
| Radian Mortgage Capital Trust, Series 2025-J3, Class A15, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 3552064 | 3556686 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 405172 | 405116 |
| Rate Mortgage Trust, Series 2025-J1, Class A4, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 1592336 | 1600589 |
| Rate Mortgage Trust, Series 2025-J1, Class A5, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 875785 | 880065 |
| Rate Mortgage Trust, Series 2025-J2, Class A5, VRN, 5.50%, 7/25/55<sup>(1)</sup> | 3702216 | 3707326 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 1/25/66<sup>(1)</sup> | 2822182 | 2793395 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM3, Class A1, VRN, 5.18%, 3/25/66<sup>(1)</sup> | 3080548 | 3076066 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | $462994 | $462781 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 980252 | 981874 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 1200745 | 1202287 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 2472551 | 2476072 |
| Towd Point Mortgage Trust, Series 2024-1, Class A1, SEQ, VRN, 4.90%, 3/25/64<sup>(1)</sup> | 3180593 | 3234922 |
| Verus Securitization Trust, Series 2026-1, Class A2, 5.12%, 1/25/71<sup>(1)</sup> | 4086945 | 4063731 |
|  |  | 141449930 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 2.1%** |  |  |
| FHLMC, Series 2021-DNA7, Class M1, VRN, 4.51%, (30-day average SOFR plus 0.85%), 11/25/41<sup>(1)</sup> | 517585 | 517147 |
| FHLMC, Series 377, Class C4, IO, 2.00%, 1/25/51 | 22037548 | 2897702 |
| FHLMC, Series K736, Class A2, SEQ, 2.28%, 7/25/26 | 7784420 | 7747515 |
| FNMA, Series 2006-60, Class KF, VRN, 4.08%, (30-day average SOFR plus 0.41%), 7/25/36 | 182937 | 181662 |
| FNMA, Series 2009-33, Class FB, VRN, 4.60%, (30-day average SOFR plus 0.93%), 3/25/37 | 197261 | 198653 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 | 7010581 | 1184747 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 | 3978213 | 660455 |
| FNMA, Series 2021-R03, Class 1M2, VRN, 5.31%, (30-day average SOFR plus 1.65%), 12/25/41<sup>(1)</sup> | 4950067 | 4959416 |
| FNMA, Series 2022-R09, Class 2M1, VRN, 6.16%, (30-day average SOFR plus 2.50%), 9/25/42<sup>(1)</sup> | 692717 | 699425 |
| FNMA, Series 2024-R02, Class 1M1, VRN, 4.76%, (30-day average SOFR plus 1.10%), 2/25/44<sup>(1)</sup> | 803187 | 802852 |
| FNMA, Series 2024-R03, Class 2M1, VRN, 4.81%, (30-day average SOFR plus 1.15%), 3/25/44<sup>(1)</sup> | 751404 | 750871 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 | 2271551 | 309150 |
|  |  | 20909595 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** <br>(Cost $161,634,195) |  | **162359525** |
| **ASSET-BACKED SECURITIES — 9.1%** |  |  |
| ACM Auto Trust, Series 2025-2A, Class B, 7.25%, 2/20/32<sup>(1)</sup> | 2438000 | 2449936 |
| ACM Auto Trust, Series 2025-3A, Class B, 6.08%, 7/20/32<sup>(1)</sup> | 2227000 | 2216094 |
| ACM Auto Trust, Series 2025-4A, Class A, SEQ, 5.87%, 5/20/30<sup>(1)</sup> | 1986201 | 1990995 |
| Aqua Finance Issuer Trust, Series 2025-B, Class D, 6.16%, 5/17/51<sup>(1)</sup> | 2207069 | 2223037 |
| BasePoint MCA Securitization II LLC, Series 2025-1A, Class A, SEQ, 5.93%, 8/15/31<sup>(1)</sup> | 5500000 | 5498279 |
| BRAVO Residential Funding Trust, Series 2024-CES1, Class A1A, 6.38%, 4/25/54<sup>(1)</sup> | 88381 | 89211 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> | 5062733 | 4840904 |
| Chesapeake Funding II LLC, Series 2024-1A, Class A1, SEQ, 5.52%, 5/15/36<sup>(1)</sup> | 2245480 | 2268534 |
| DataBank Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.81%, 2/25/56<sup>(1)</sup> | 3728000 | 3712700 |
| FinBe USA Trust, Series 2025-1A, Class A, SEQ, 5.70%, 12/15/28<sup>(1)</sup> | 2014861 | 2015234 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(1)</sup> | 2620000 | 2607983 |
| JP Morgan Mortgage Trust, Series 2025-CES7, Class A1A, 5.06%, 4/25/56<sup>(1)</sup> | 1901711 | 1894238 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A1A, 4.91%, 6/25/56<sup>(1)</sup> | 5264275 | 5226096 |
| Kobalt Music Assets LP, Series 2024-1A, Class A2, SEQ, 6.625%, 4/7/64<sup>(1)</sup> | 1790000 | 1811185 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> | 4047000 | 4046232 |
| Luxury Lease Partners Auto Lease Trust, Series 2025-A, Class A, SEQ, 5.51%, 3/15/32<sup>(1)</sup> | 2004270 | 2003550 |
| M&T Bank RV Trust, Series 2026-1A, Class A, SEQ, 4.35%, 1/15/46<sup>(1)</sup> | 5552109 | 5500034 |
| MVW LLC, Series 2019-2A, Class B, 2.44%, 10/20/38<sup>(1)</sup> | 254530 | 254164 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> | 5000000 | 3221902 |
| NMEF Funding LLC, Series 2025-B, Class D, 5.47%, 1/18/33<sup>(1)</sup> | 3000000 | 2999823 |
| Pawneee Equipment Receivables LLC, Series 2022-1, Class D, 7.23%, 7/17/28<sup>(1)</sup> | 2362000 | 2367519 |
| Purchasing Power Funding LLC, Series 2026-A, Class A, SEQ, 4.37%, 8/15/30<sup>(1)</sup> | 3495000 | 3477074 |
| RCKT Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 6.03%, 2/25/44<sup>(1)</sup> | 2358786 | 2370300 |
| RCKT Mortgage Trust, Series 2024-CES2, Class A1A, VRN, 6.14%, 4/25/44<sup>(1)</sup> | 985898 | 992582 |
| RKTL Trust, Series 2026-1A, Class A, SEQ, 4.07%, 2/26/35<sup>(1)</sup> | 2927490 | 2924859 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A, SEQ, 4.88%, 1/25/56<sup>(1)</sup> | 3883115 | 3856391 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class A3, SEQ, 5.52%, 1/20/32<sup>(1)</sup> | 2675000 | 2720039 |
| Service Experts Issuer LLC, Series 2025-1A, Class A, SEQ, 5.38%, 1/20/37<sup>(1)</sup> | 4218347 | 4208495 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Towd Point Mortgage Trust, Series 2024-CES1, Class A1A, VRN, 5.85%, 1/25/64<sup>(1)</sup> | $2032948 | $2037827 |
| Trackside Rail LLC, Series 2026-1A, Class A, SEQ, 4.89%, 3/20/56<sup>(1)</sup> | 3599000 | 3561832 |
| Verdant Receivables LLC, Series 2024-1A, Class A2, SEQ, 5.68%, 12/12/31<sup>(1)</sup> | 2972702 | 3020268 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 3539352 | 3591111 |
| **TOTAL ASSET-BACKED SECURITIES** <br>(Cost $93,081,862) |  | **91998428** |
| **CONVERTIBLE PREFERRED SECURITIES — 4.8%** |  |  |
| **Banks — 4.3%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 1600000 | 1597440 |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% | 892000 | 964378 |
| Banco Santander SA, 4.75% | 3000000 | 2968936 |
| Banco Santander SA, 9.625% | 800000 | 862153 |
| Barclays PLC, 8.00% | 2073000 | 2146154 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 5049000 | 5264072 |
| HSBC Holdings PLC, 6.875% | 1963000 | 1977522 |
| ING Groep NV, 4.875% | 4253000 | 4011506 |
| ING Groep NV, 7.50% | 3312000 | 3388588 |
| Lloyds Banking Group PLC, 8.00% | 2733000 | 2871153 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 3037000 | 3057955 |
| Skandinaviska Enskilda Banken AB, 6.875% | 2200000 | 2213863 |
| Societe Generale SA, 6.75%<sup>(1)</sup> | 1025000 | 1021711 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 3920000 | 4100826 |
| Svenska Handelsbanken AB, 4.375% | 2400000 | 2360637 |
| Swedbank AB, 7.625% | 3800000 | 3909428 |
|  |  | 42716322 |
| **Capital Markets — 0.5%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 5035000 | 5369602 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES** <br>(Cost $48,316,045) |  | **48085924** |
| **PREFERRED SECURITIES — 3.3%** |  |  |
| **Banks — 1.0%** |  |  |
| Bank of America Corp., 4.375% | 2375000 | 2347519 |
| Citigroup, Inc., 7.625% | 3024000 | 3128960 |
| JPMorgan Chase & Co., 3.65% | 2192000 | 2183205 |
| KeyCorp, 5.00% | 2675000 | 2654340 |
|  |  | 10314024 |
| **Capital Markets — 1.0%** |  |  |
| Charles Schwab Corp., 4.00% | 4315000 | 4288450 |
| Goldman Sachs Group, Inc., 3.80% | 3320000 | 3314732 |
| Northern Trust Corp., 4.60% | 2760000 | 2740912 |
|  |  | 10344094 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| Energy Transfer LP, 6.50% | 2415000 | 2412159 |
| Energy Transfer LP, 6.625% | 1513000 | 1514351 |
|  |  | 3926510 |
| **Trading Companies and Distributors — 0.9%** |  |  |
| Air Lease Corp., 4.65% | 2800000 | 2794908 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 5556000 | 5548309 |
|  |  | 8343217 |
| **TOTAL PREFERRED SECURITIES** <br>(Cost $32,805,148) |  | **32927845** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 2.8%** |  |  |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 5.95%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(3)(4)</sup> | $4370000 | 57586 |

---

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| BPR Commercial Mortgage Trust, Series 2025-STAR, Class B, VRN, 5.02%, 11/5/42<sup>(1)</sup> | $2989000 | $2974883 |
| BX Trust, Class C, 3.86%, 12/9/41<sup>(1)</sup> | 5000000 | 4755850 |
| FREMF Mortgage Trust, Series 2016-K55, Class B, VRN, 4.40%, 4/25/49<sup>(1)</sup> | 831751 | 829157 |
| FREMF Mortgage Trust, Series 2017-K69, Class B, VRN, 3.73%, 10/25/49<sup>(1)</sup> | 4920000 | 4843663 |
| NCMF Trust, Series 2025-MFS, Class C, VRN, 6.04%, 6/10/33<sup>(1)</sup> | 4621000 | 4660503 |
| SCMS Mortgage Trust, Series 2025-BNC1, Class AS, SEQ, VRN, 5.31%, 12/15/57<sup>(1)</sup> | 4000000 | 4017895 |
| Velocity Commercial Capital Loan Trust, Series 2025-5, Class M1, VRN, 5.94%, 12/25/55<sup>(1)</sup> | 2338347 | 2336425 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 5.54%, 3/15/40<sup>(1)</sup> | 4000000 | 4009621 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** <br>(Cost $32,783,761) |  | **28485583** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.1%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.14%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> <br>(Cost $726,641) | 737152 | **737169** |
| **SHORT-TERM INVESTMENTS — 6.1%** |  |  |
| **Money Market Funds — 5.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 50203887 | 50203887 |
| **Treasury Bills**<sup>(5)</sup> **— 1.1%** |  |  |
| U.S. Treasury Bills, 3.82%, 3/18/27 | $11000000 | 10623011 |
| **TOTAL SHORT-TERM INVESTMENTS** <br>(Cost $60,811,030) |  | **60826898** |
| **TOTAL INVESTMENT SECURITIES — 99.2%** <br>(Cost $1,003,170,921) |  | **996409043** |
| **OTHER ASSETS AND LIABILITIES — 0.8%** |  | **8016611** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1004425654** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 678 | June 2026 | $140647922 | $169162 |
| U.S. Treasury 10-Year Notes | 152 | June 2026 | 16879125 | (153890) |
|  |  |  | $157527047 | $15272 |

---

^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 | 57 | June 2026 | $6470391 | $22311 |

---

^Amount represents value and unrealized appreciation (depreciation).

------

Schedule of Investments - Short Duration Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| 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 $393,722,171, which represented 39.2% of total net assets.

(2)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on futures contracts. At the period end, the aggregate value of securities pledged was $948,442.

(3)Security is in default.

(4)Non-income producing.

(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.

**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 |  | $308739977 |  |
| U.S. Treasury Securities |  | 262247694 |  |
| Collateralized Mortgage Obligations |  | 162359525 |  |
| Asset-Backed Securities |  | 91998428 |  |
| Convertible Preferred Securities |  | 48085924 |  |
| Preferred Securities |  | 32927845 |  |
| Commercial Mortgage-Backed Securities |  | 28485583 |  |
| Collateralized Loan Obligations |  | 737169 |  |
| Short-Term Investments | $50203887 | 10623011 |  |
|  | $50203887 | $946205156 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $191473 |  |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $153890 |  |  |

---

**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** |
| **Asset Derivatives:** | |
| &nbsp;&nbsp;Receivable for variation margin on futures contracts\* | $47170 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts as reported in the Schedule of Investments.

------

Schedule of Investments - Short Duration Fund

The following is a summary of the effect of derivative instruments on the Statement of Operations for the period ended March 31, 2026.

---

| | | | |
|:---|:---|:---|:---|
| | **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 |  | $582651 | $582651 |
| &nbsp;&nbsp;Swap agreement transactions | $(286383) |  | (286383) |
|  |  |  | $296268 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |
| &nbsp;&nbsp;Futures contracts |  | $(264336) | $(264336) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

**MARCH 31, 2026** 

---

| | | |
|:---|:---|:---|
|<br>**U.S. TREASURY SECURITIES — 80.0%** | **Principal <br>Amount/Shares** | **Value** |
| U.S. Treasury Inflation-Indexed Bonds, 2.50%, 1/15/29 | $14013010 | $14540215 |
| U.S. Treasury Inflation-Indexed Bonds, 3.875%, 4/15/29 | 17806500 | 19215003 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 4/15/27<sup>(1)</sup> | 175328312 | 174351723 |
| U.S. Treasury Inflation-Indexed Notes, 0.375%, 7/15/27 | 28852971 | 28852496 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 10/15/27 | 31621824 | 32122704 |
| U.S. Treasury Inflation-Indexed Notes, 0.50%, 1/15/28 | 7647822 | 7590600 |
| U.S. Treasury Inflation-Indexed Notes, 1.25%, 4/15/28 | 73248518 | 73554721 |
| U.S. Treasury Inflation-Indexed Notes, 0.75%, 7/15/28 | 56364690 | 56215563 |
| U.S. Treasury Inflation-Indexed Notes, 2.375%, 10/15/28 | 49696920 | 51464873 |
| U.S. Treasury Inflation-Indexed Notes, 0.875%, 1/15/29 | 23636818 | 23469441 |
| U.S. Treasury Inflation-Indexed Notes, 2.125%, 4/15/29 | 118614840 | 121808950 |
| U.S. Treasury Inflation-Indexed Notes, 0.25%, 7/15/29 | 89134954 | 86716724 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 10/15/29 | 31785660 | 32298402 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 1/15/30 | 8217170 | 7867170 |
| U.S. Treasury Inflation-Indexed Notes, 1.625%, 4/15/30 | 42913500 | 43357045 |
| U.S. Treasury Inflation-Indexed Notes, 0.125%, 7/15/30 | 118003312 | 112361974 |
| U.S. Treasury Inflation-Indexed Notes, 1.125%, 10/15/30 | 57314640 | 56819001 |
| **TOTAL U.S. TREASURY SECURITIES** <br>(Cost $931,801,465) |  | **942606605** |
| **CORPORATE BONDS — 4.4%** |  |  |
| **Aerospace and Defense — 0.2%** |  |  |
| TransDigm, Inc., 6.75%, 8/15/28<sup>(2)</sup> | 2457000 | 2489899 |
| **Banks — 0.6%** |  |  |
| JPMorgan Chase & Co., VRN, 5.00%, 7/22/30 | 4390000 | 4454925 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 3010000 | 3036423 |
|  |  | 7491348 |
| **Biotechnology — 0.3%** |  |  |
| BioMarin Pharmaceutical, Inc., 5.50%, 2/15/34<sup>(2)</sup> | 2200000 | 2167575 |
| Genmab AS/Genmab Finance LLC, 6.25%, 12/15/32<sup>(2)</sup> | 1175000 | 1205500 |
|  |  | 3373075 |
| **Building Products — 0.3%** |  |  |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(2)</sup> | 3020000 | 2783994 |
| **Capital Markets — 0.3%** |  |  |
| State Street Corp., VRN, 3.03%, 11/1/34 | 4155000 | 3912401 |
| **Construction Materials — 0.1%** |  |  |
| Quikrete Holdings, Inc., 6.375%, 3/1/32<sup>(2)</sup> | 1385000 | 1405433 |
| **Electric Utilities — 0.1%** |  |  |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(2)</sup> | 1415000 | 1414146 |
| **Electrical Equipment — 0.1%** |  |  |
| WESCO Distribution, Inc., 5.25%, 4/15/31<sup>(2)</sup> | 451000 | 449435 |
| **Health Care Providers and Services — 0.3%** |  |  |
| Centene Corp., 4.625%, 12/15/29 | 1265000 | 1201671 |
| CVS Health Corp., VRN, 7.00%, 3/10/55 | 2290000 | 2361604 |
|  |  | 3563275 |
| **Insurance — 0.4%** |  |  |
| GA Global Funding Trust, 5.20%, 12/9/31<sup>(2)</sup> | 4540000 | 4450737 |
| **Media — 1.0%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30<sup>(2)</sup> | 3735000 | 3546398 |
| Lamar Media Corp., 3.75%, 2/15/28 | 2930000 | 2851522 |
| Nexstar Media, Inc., 6.50%, 9/15/33<sup>(2)</sup> | 1815000 | 1829927 |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | |
|:---|:---|:---|
| | **Principal <br>Amount/Shares** | **Value** |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(2)</sup> | $2930000 | $2829958 |
|  |  | 11057805 |
| **Oil, Gas and Consumable Fuels — 0.6%** |  |  |
| Permian Resources Operating LLC, 6.25%, 2/1/33<sup>(2)</sup> | 2956000 | 3013127 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 1456000 | 1393171 |
| Sunoco LP, 7.00%, 5/1/29<sup>(2)</sup> | 1390000 | 1428375 |
| Venture Global Plaquemines LNG LLC, 6.125%, 12/15/30<sup>(2)</sup> | 1180000 | 1214192 |
|  |  | 7048865 |
| **Specialized REITs — 0.0%** |  |  |
| SBA Communications Corp., 3.125%, 2/1/29 | 375000 | 355566 |
| **Specialty Retail — 0.1%** |  |  |
| Advance Auto Parts, Inc., 7.375%, 8/1/33<sup>(2)</sup> | 1495000 | 1515429 |
| **TOTAL CORPORATE BONDS** <br>(Cost $51,624,237) |  | **51311408** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.8%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 2.8%** |  |  |
| Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A, SEQ, VRN, 6.00%, 2/25/55<sup>(2)</sup> | 1343271 | 1349259 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(2)</sup> | 3709318 | 3710088 |
| GCAT Trust, Series 2024-INV3, Class A6, SEQ, VRN, 5.50%, 9/25/54<sup>(2)</sup> | 2107272 | 2111156 |
| JP Morgan Mortgage Trust, Series 2006-A4, Class 3A1, VRN, 4.52%, 6/25/36 | 124775 | 81590 |
| JP Morgan Mortgage Trust, Series 2023-7, Class A4A, SEQ, VRN, 5.50%, 2/25/54<sup>(2)</sup> | 3611900 | 3618172 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(2)</sup> | 2481596 | 2493926 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(2)</sup> | 2409023 | 2413185 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(2)</sup> | 1287517 | 1287704 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(2)</sup> | 936603 | 936349 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(2)</sup> | 243120 | 242648 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(2)</sup> | 525873 | 524919 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A1, VRN, 4.89%, 4/25/66<sup>(2)</sup> | 6012506 | 5982464 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 542307 | 542233 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 1/25/66<sup>(2)</sup> | 3901973 | 3862172 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 598504 | 598230 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(2)</sup> | 1275280 | 1277390 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(2)</sup> | 1603159 | 1605218 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** <br>(Cost $32,698,197) |  | **32636703** |
| **ASSET-BACKED SECURITIES — 2.5%** |  |  |
| CARS-DB5 LP, Series 2021-1A, Class A3, SEQ, 1.92%, 8/15/51<sup>(2)</sup> | 3886635 | 3840892 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A1A, 4.91%, 6/25/56<sup>(2)</sup> | 7277800 | 7225017 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(2)</sup> | 7000000 | 4510663 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A, SEQ, 4.88%, 1/25/56<sup>(2)</sup> | 5406869 | 5369659 |
| SCF Equipment Leasing LLC, Series 2024-1A, Class A3, SEQ, 5.52%, 1/20/32<sup>(2)</sup> | 3650000 | 3711455 |
| Tesla Auto Lease Trust, Series 2024-A, Class A3, SEQ, 5.30%, 6/21/27<sup>(2)</sup> | 1050667 | 1052794 |
| Verdant Receivables LLC, Series 2024-1A, Class A2, SEQ, 5.68%, 12/12/31<sup>(2)</sup> | 4075974 | 4141192 |
| **TOTAL ASSET-BACKED SECURITIES** <br>(Cost $31,363,954) |  | **29851672** |
| **CONVERTIBLE PREFERRED SECURITIES — 2.4%** |  |  |
| **Banks — 2.1%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 1600000 | 1597440 |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% | 891000 | 963297 |
| Banco Santander SA, 4.75% | 1400000 | 1385503 |
| Banco Santander SA, 9.625% | 600000 | 646614 |
| Barclays PLC, 8.00% | 3987000 | 4127696 |
| BNP Paribas SA, 8.50%<sup>(2)</sup> | 2150000 | 2241584 |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal <br>Amount/Shares** | **Value** |
| Commerzbank AG, 7.50% |  | 2000000 | $2028856 |
| HSBC Holdings PLC, 6.50% |  | 2757000 | 2756251 |
| HSBC Holdings PLC, 6.875% |  | 1362000 | 1372076 |
| Lloyds Banking Group PLC, 8.00% |  | 3300000 | 3466815 |
| Macquarie Bank Ltd., 6.125%<sup>(2)</sup> |  | 1423000 | 1432819 |
| Societe Generale SA, 6.75%<sup>(2)</sup> |  | 710000 | 707722 |
| Societe Generale SA, 9.375%<sup>(2)</sup> |  | 725000 | 758444 |
| Societe Generale SA, 10.00%<sup>(2)</sup> |  | 1730000 | 1869534 |
|  |  |  | 25354651 |
| **Capital Markets — 0.3%** |  |  |  |
| UBS Group AG, 9.25%<sup>(2)</sup> |  | 2835000 | 3023400 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES** <br>(Cost $28,839,821) |  |  | **28378051** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 1.6%** |  |  |  |
| **New Zealand — 1.3%** |  |  |  |
| New Zealand Government Bonds, 1.50%, 5/15/31 | NZD | 31000000 | 15597319 |
| **Saudi Arabia — 0.3%** |  |  |  |
| Saudi Government International Bonds, 4.375%, 1/12/31<sup>(2)</sup> |  | $3600000 | 3532067 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES** <br>(Cost $19,930,610) |  |  | **19129386** |
| **EXCHANGE-TRADED FUNDS — 1.2%** |  |  |  |
| iShares 0-5 Year High Yield Corporate Bond ETF |  | 250700 | 10607117 |
| State Street SPDR Bloomberg Short Term High Yield Bond ETF |  | 142100 | 3549658 |
| **TOTAL EXCHANGE-TRADED FUNDS** <br>(Cost $14,339,122) |  |  | **14156775** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 1.0%** |  |  |  |
| Bank5 Trust, Series 2024-5YR6, Class A3, SEQ, 6.23%, 5/15/57 |  | $3477000 | 3618958 |
| BBCMS Mortgage Trust, Series 2024-5C27, Class A3, SEQ, 6.01%, 7/15/57 |  | 1700000 | 1764615 |
| Benchmark Mortgage Trust, Series 2024-V8, Class A3, SEQ, VRN, 6.19%, 7/15/57 |  | 6045000 | 6290324 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** <br>(Cost $11,577,957) |  |  | **11673897** |
| **PREFERRED SECURITIES — 0.2%** |  |  |  |
| **Banks — 0.2%** |  |  |  |
| Citigroup, Inc., 7.625% <br>(Cost $2,224,906) |  | 2130000 | **2203930** |
| **SHORT-TERM INVESTMENTS — 3.5%** |  |  |  |
| **Commercial Paper**<sup>(3)</sup> **— 3.5%** |  |  |  |
| HQLA Funding LLC, 3.77%, 4/1/26<sup>(2)</sup> |  | $20550000 | 20547875 |
| Regatta Funding Co. LLC, 3.77%, 4/1/26<sup>(2)</sup> |  | 20550000 | 20547882 |
|  |  |  | 41095757 |
| **Money Market Funds — 0.0%** |  |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class |  | 183748 | 183748 |
| **TOTAL SHORT-TERM INVESTMENTS** <br>(Cost $41,283,748) |  |  | **41279505** |
| **TOTAL INVESTMENT SECURITIES — 99.6%** <br>(Cost $1,165,684,017) |  |  | **1173227932** |
| **OTHER ASSETS AND LIABILITIES — 0.4%** |  |  | **4476847** |
| **TOTAL NET ASSETS — 100.0%** |  |  | $**1177704779** |

---

------

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)** |
| AUD | 4246150 | USD | 2952298 | Morgan Stanley & Co. LLC | 6/17/26 | $(25919) |
| USD | 3010347 | AUD | 4243326 | UBS AG | 6/17/26 | 85914 |
| GBP | 1438836 | USD | 1929694 | JPMorgan Chase Bank NA | 6/17/26 | (25679) |
| GBP | 2500000 | USD | 3344440 | Morgan Stanley & Co. LLC | 6/17/26 | (36183) |
| USD | 5267436 | GBP | 3938836 | Citibank NA | 6/17/26 | 55164 |
| USD | 16170707 | NZD | 27420806 | UBS AG | 6/17/26 | 371229 |
|  |  |  |  |  |  | $424526 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 458 | June 2026 | $95009953 | $242419 |
| U.S. Treasury 5-Year Notes | 577 | June 2026 | 62419680 | (907195) |
|  |  |  | $157429633 | $(664776) |

---

^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 | $50000000 | $220 | $1163032 | $1163252 |
| CPURNSA | Receive | 2.48% | 2/9/28 | $25000000 | 541 | 163724 | 164265 |
| CPURNSA | Receive | 2.64% | 8/2/28 | $78000000 | 529 | 580595 | 581124 |
| CPURNSA | Receive | 2.39% | 8/2/29 | $11300000 | 379 | 116124 | 116503 |
| CPURNSA | Receive | 2.52% | 11/4/29 | $17500000 | 435 | 104447 | 104882 |
| CPURNSA | Receive | 2.52% | 11/4/29 | $17500000 | 437 | 104445 | 104882 |
| CPURNSA | Receive | 2.46% | 12/10/29 | $7000000 | 401 | 58506 | 58907 |
| CPURNSA | Receive | 2.44% | 12/11/29 | $10000000 | 415 | 93369 | 93784 |
| CPURNSA | Receive | 2.56% | 2/4/30 | $5300000 | 409 | 13273 | 13682 |
| CPURNSA | Receive | 2.61% | 4/7/30 | $12000000 | 461 | (39467) | (39006) |
| CPURNSA | Receive | 2.43% | 4/8/30 | $12000000 | 461 | 61198 | 61659 |
| CPURNSA | Receive | 2.66% | 8/4/30 | $30500000 | 596 | (106126) | (105530) |
| CPURNSA | Receive | 2.53% | 11/4/30 | $6000000 | 493 | (2694) | (2201) |
| CPURNSA | Receive | 2.53% | 2/3/31 | $14000000 | 567 | 4760 | 5327 |
| CPURNSA | Receive | 2.45% | 2/10/31 | $10000000 | 564 | 36316 | 36880 |
| CPURNSA | Receive | 2.38% | 2/25/31 | $15000000 | 609 | 98592 | 99201 |
| CPURNSA | Receive | 2.35% | 2/26/31 | $15000000 | 609 | 120174 | 120783 |
|  |  |  |  |  | $8126 | $2570268 | $2578394 |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| AUD | – | Australian Dollar |
| CPURNSA | – | U.S. Consumer Price Index Urban Consumers Not Seasonally Adjusted Index |
| GBP | – | British Pound |
| NZD | – | New Zealand Dollar |
| SEQ | – | Sequential Payer |
| 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 foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $10,069,332.

(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 $148,812,237, which represented 12.6% of total net assets.

(3)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 |  | $942606605 |  |
| Corporate Bonds |  | 51311408 |  |
| Collateralized Mortgage Obligations |  | 32636703 |  |
| Asset-Backed Securities |  | 29851672 |  |
| Convertible Preferred Securities |  | 28378051 |  |
| Sovereign Governments and Agencies |  | 19129386 |  |
| Exchange-Traded Funds | $14156775 |  |  |
| Commercial Mortgage-Backed Securities |  | 11673897 |  |
| Preferred Securities |  | 2203930 |  |
| Short-Term Investments | 183748 | 41095757 |  |
|  | $14340523 | $1158887409 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $242419 |  |  |
| Swap Agreements |  | $2725131 |  |
| Forward Foreign Currency Exchange Contracts |  | 512307 |  |
|  | $242419 | $3237438 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $907195 |  |  |
| Swap Agreements |  | $146737 |  |
| Forward Foreign Currency Exchange Contracts |  | 87781 |  |
|  | $907195 | $234518 |  |

---

------

Schedule of Investments - Short Duration Inflation Protection Bond 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** | **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\* |  | $116922 |  | $116922 |
| &nbsp;&nbsp;Unrealized appreciation on forward foreign currency exchange contracts | $512307 |  |  | 512307 |
|  |  |  |  | $629229 |
| **Liability Derivatives:** |  |  |  |  |
| &nbsp;&nbsp;Payable for variation margin on swap agreements\* |  |  | $194377 | $194377 |
| &nbsp;&nbsp;Unrealized depreciation on forward foreign currency exchange contracts | $87781 |  |  | 87781 |
|  |  |  |  | $282158 |

---

\*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 March 31, 2026.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** | **Type of Risk Exposure** |
| | **Credit** | **Foreign Currency** | **Interest Rate** | **Other Contracts** | **Total** |
| **Net realized gain (loss) on:** | | | | | |
| &nbsp;&nbsp;Forward foreign currency exchange transactions |  | $168786 |  |  | $168786 |
| &nbsp;&nbsp;Futures contract transactions |  |  | $1769875 |  | 1769875 |
| &nbsp;&nbsp;Swap agreement transactions | $(49794) |  |  | $5963022 | 5913228 |
|  |  |  |  |  | $7851889 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $424526 |  |  | $424526 |
| &nbsp;&nbsp;Futures contracts |  |  | $(1187923) |  | (1187923) |
| &nbsp;&nbsp;Swap agreements |  |  |  | $(6635038) | (6635038) |
|  |  |  |  |  | $(7398435) |

---

See Notes to Financial Statements.

------

Schedule of Investments - Short Duration Strategic Income Fund

**MARCH 31, 2026** 

---

| | | |
|:---|:---|:---|
|<br>**CORPORATE BONDS — 42.5%** | **Principal Amount/Shares** | **Value** |
| **Aerospace and Defense — 1.0%** | | |
| Boeing Co., 6.30%, 5/1/29 | $2984000 | $3133550 |
| Honeywell Aerospace, Inc., 4.30%, 3/16/31<sup>(1)</sup> | 2863000 | 2832992 |
| TransDigm, Inc., 4.625%, 1/15/29 | 1545000 | 1518981 |
| TransDigm, Inc., 4.875%, 5/1/29 | 1545000 | 1523244 |
|  |  | 9008767 |
| **Air Freight and Logistics — 0.3%** |  |  |
| GXO Logistics, Inc., 1.65%, 7/15/26 | 3000000 | 2973427 |
| **Automobiles — 0.9%** |  |  |
| Ford Motor Credit Co. LLC, 5.125%, 11/5/26 | 3025000 | 3031816 |
| Ford Motor Credit Co. LLC, 5.80%, 3/5/27 | 1530000 | 1538803 |
| Nissan Motor Acceptance Co. LLC, 6.95%, 9/15/26<sup>(1)</sup> | 3650000 | 3670101 |
|  |  | 8240720 |
| **Banks — 8.5%** |  |  |
| ABN AMRO Bank NV, VRN, 3.32%, 3/13/37<sup>(1)</sup> | 4600000 | 4107736 |
| Bank of Montreal, VRN, 3.80%, 12/15/32 | 3125000 | 3076262 |
| Bank of Montreal, VRN, 7.70%, 5/26/84 | 3124000 | 3210394 |
| Bank of Nova Scotia, VRN, 8.00%, 1/27/84 | 2551000 | 2672785 |
| Banque Federative du Credit Mutuel SA, 4.54%, 1/15/31<sup>(1)</sup> | 2845000 | 2806923 |
| BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico, VRN, 5.125%, 1/18/33<sup>(1)</sup> | 2200000 | 2139643 |
| Credit Agricole SA, VRN, 4.66%, 1/12/32<sup>(1)</sup> | 3245000 | 3201569 |
| DNB Bank ASA, VRN, 4.83%, 3/30/32<sup>(1)</sup> | 3503000 | 3495673 |
| Dresdner Funding Trust I, 8.15%, 6/30/31<sup>(1)</sup> | 2386000 | 2558088 |
| Fifth Third Financial Corp., VRN, 5.98%, 1/30/30 | 1600000 | 1651269 |
| First Horizon Bank, 5.75%, 5/1/30 | 1800000 | 1829074 |
| FNB Corp., VRN, 5.72%, 12/11/30 | 2067000 | 2080457 |
| Freedom Mortgage Corp., 6.625%, 1/15/27<sup>(1)</sup> | 3305000 | 3302732 |
| Freedom Mortgage Holdings LLC, 9.25%, 2/1/29<sup>(1)</sup> | 346000 | 350946 |
| Freedom Mortgage Holdings LLC, 6.875%, 5/1/31<sup>(1)</sup> | 1575000 | 1474016 |
| Huntington Bancshares, Inc., VRN, 4.62%, 1/28/32 | 1760000 | 1734851 |
| Intesa Sanpaolo SpA, VRN, 4.20%, 6/1/32<sup>(1)</sup> | 2093000 | 1958736 |
| Morgan Stanley Private Bank NA, VRN, 4.21%, 2/8/30 | 2455000 | 2430470 |
| Morgan Stanley Private Bank NA, VRN, 4.73%, 7/18/31 | 485000 | 483591 |
| NatWest Group PLC, VRN, 3.03%, 11/28/35 | 2310000 | 2103967 |
| Toronto-Dominion Bank, 4.11%, 10/13/28 | 2310000 | 2298257 |
| Toronto-Dominion Bank, VRN, 8.125%, 10/31/82 | 4087000 | 4218891 |
| Truist Bank, VRN, 4.67%, 5/20/27 | 1470000 | 1470072 |
| Truist Bank, VRN, 4.14%, 1/27/29 | 2040000 | 2029758 |
| Truist Bank, VRN, 4.63%, 9/17/29 | 980000 | 972177 |
| Truist Bank, VRN, 4.14%, 10/23/29 | 3882000 | 3845787 |
| UWM Holdings LLC, 6.25%, 3/15/31<sup>(1)</sup> | 635000 | 578819 |
| Wells Fargo & Co., VRN, 4.97%, 4/23/29 | 1465000 | 1477860 |
| Wells Fargo & Co., VRN, 4.18%, 1/23/30 | 2523000 | 2501036 |
| Western Alliance Bancorp, VRN, 3.00%, 6/15/31 | 2590000 | 2488291 |
| Zions Bancorp NA, 3.25%, 10/29/29 | 4250000 | 3942429 |
| Zions Bancorp NA, VRN, 4.48%, 2/9/29 | 2925000 | 2904249 |
|  |  | 75396808 |
| **Beverages — 0.1%** |  |  |
| Maple Parent Holdings Corp., 4.75%, 3/26/29<sup>(1)</sup> | 620000 | 620039 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| **Biotechnology — 0.1%** | | |
| BioMarin Pharmaceutical, Inc., 5.50%, 2/15/34<sup>(1)</sup> | $585000 | $576378 |
| **Broadline Retail — 0.4%** |  |  |
| Amazon.com, Inc., 4.00%, 3/13/29 | 1880000 | 1870839 |
| Amazon.com, Inc., 4.25%, 3/13/31 | 1670000 | 1658069 |
|  |  | 3528908 |
| **Building Products — 0.5%** |  |  |
| Builders FirstSource, Inc., 4.25%, 2/1/32<sup>(1)</sup> | 2020000 | 1862142 |
| Standard Industries, Inc., 4.75%, 1/15/28<sup>(1)</sup> | 2660000 | 2631396 |
|  |  | 4493538 |
| **Capital Markets — 6.0%** |  |  |
| Apollo Debt Solutions BDC, 5.20%, 12/8/28<sup>(1)</sup> | 1815000 | 1793178 |
| Ares Strategic Income Fund, 5.70%, 3/15/28 | 1114000 | 1112737 |
| Bank of New York Mellon Corp., VRN, 4.03%, 1/22/30 | 2390000 | 2366504 |
| Blackstone Private Credit Fund, 3.25%, 3/15/27 | 3590000 | 3501265 |
| Blackstone Private Credit Fund, 5.95%, 7/16/29 | 1998000 | 1969373 |
| Blackstone Secured Lending Fund, 2.75%, 9/16/26 | 2184000 | 2154914 |
| Blue Owl Capital Corp., 3.40%, 7/15/26 | 3880000 | 3849871 |
| Blue Owl Credit Income Corp., 7.75%, 9/16/27 | 1185000 | 1202124 |
| Blue Owl Credit Income Corp., 7.75%, 1/15/29 | 3130000 | 3205829 |
| Blue Owl Technology Finance Corp., 6.10%, 3/15/28 | 1608000 | 1590083 |
| Citadel Finance LLC, 4.75%, 2/14/29<sup>(1)</sup> | 1650000 | 1617863 |
| Citadel Finance LLC, 5.90%, 2/10/30<sup>(1)</sup> | 1000000 | 1005334 |
| Coinbase Global, Inc., 3.375%, 10/1/28<sup>(1)</sup> | 2394000 | 2242863 |
| Goldman Sachs BDC, Inc., 6.375%, 3/11/27 | 2184000 | 2195587 |
| Goldman Sachs BDC, Inc., 5.10%, 1/28/29 | 823000 | 799699 |
| Goldman Sachs Group, Inc., VRN, 5.73%, 4/25/30 | 1540000 | 1589086 |
| Goldman Sachs Group, Inc., VRN, 4.52%, 1/21/32 | 1770000 | 1743542 |
| Goldman Sachs Private Credit Corp., 5.05%, 2/23/28<sup>(1)</sup> | 1285000 | 1265995 |
| Golub Capital BDC, Inc., 2.05%, 2/15/27 | 1381000 | 1338129 |
| Golub Capital BDC, Inc., 7.05%, 12/5/28 | 1559000 | 1595827 |
| Golub Capital Private Credit Fund, 5.45%, 8/15/28<sup>(1)</sup> | 1655000 | 1632733 |
| HPS Corporate Lending Fund, 5.45%, 1/14/28 | 1965000 | 1951147 |
| HPS Corporate Lending Fund, 4.90%, 9/11/28<sup>(1)</sup> | 605000 | 589767 |
| HPS Corporate Lending Fund, 5.15%, 4/2/29<sup>(1)</sup> | 810000 | 787407 |
| Morgan Stanley, VRN, 4.13%, 10/18/29 | 2740000 | 2708771 |
| North Haven Private Income Fund LLC, 5.125%, 9/25/28<sup>(1)</sup> | 2764000 | 2692649 |
| Northern Trust Corp., VRN, 3.375%, 5/8/32 | 2257000 | 2226209 |
| State Street Corp., VRN, 3.03%, 11/1/34 | 2480000 | 2335200 |
|  |  | 53063686 |
| **Consumer Finance — 0.9%** |  |  |
| Avilease Capital Ltd., 4.75%, 11/12/30<sup>(1)</sup> | 1545000 | 1505046 |
| OneMain Finance Corp., 6.125%, 5/15/30 | 555000 | 543082 |
| Stellantis Financial Services U.S. Corp., 4.95%, 9/15/28<sup>(1)</sup> | 3360000 | 3342311 |
| Takeoff Merger Sub, Inc., 4.50%, 3/24/29<sup>(1)</sup> | 1670000 | 1659570 |
| Takeoff Merger Sub, Inc., 4.85%, 3/24/31<sup>(1)</sup> | 760000 | 750789 |
|  |  | 7800798 |
| **Consumer Staples Distribution & Retail — 0.1%** |  |  |
| Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC, 5.50%, 3/31/31<sup>(1)</sup> | 988000 | 978043 |
| **Diversified REITs — 2.8%** |  |  |
| American Assets Trust LP, 3.375%, 2/1/31 | 3000000 | 2705722 |
| Brandywine Operating Partnership LP, 8.30%, 3/15/28 | 793000 | 807690 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal Amount/Shares** | **Value** |
| Brandywine Operating Partnership LP, 8.875%, 4/12/29 |  | $2115000 | $2149128 |
| Equinix Asia Financing Corp. Pte. Ltd., 4.40%, 3/15/31 |  | 1550000 | 1517948 |
| Global Net Lease, Inc., 4.50%, 9/30/28<sup>(1)</sup> |  | 2740000 | 2656507 |
| Kilroy Realty LP, 4.25%, 8/15/29 |  | 2705000 | 2616885 |
| Kilroy Realty LP, 3.05%, 2/15/30 |  | 455000 | 414983 |
| Piedmont Operating Partnership LP, 6.875%, 7/15/29 |  | 240000 | 251524 |
| Store Capital LLC, 4.95%, 2/11/31<sup>(1)</sup> |  | 2980000 | 2955495 |
| Trust 2401, 4.87%, 1/15/30<sup>(1)</sup> |  | 2352000 | 2266164 |
| Trust 2401, 7.70%, 1/23/32<sup>(1)</sup> |  | 886000 | 948631 |
| Trust Fibra Uno, 4.87%, 1/15/30<sup>(1)</sup> |  | 2019000 | 1938294 |
| Vornado Realty LP, 2.15%, 6/1/26 |  | 3260000 | 3241819 |
|  |  |  | 24470790 |
| **Diversified Telecommunication Services — 0.2%** |  |  |  |
| AT&T, Inc., 7.30%, 8/15/26 |  | 1725000 | 1738084 |
| **Electric Utilities — 2.1%** |  |  |  |
| Black Hills Corp., 4.55%, 1/31/31 |  | 2893000 | 2863407 |
| Emera U.S. Finance LLC, VRN, 6.65%, 10/1/56 |  | 841000 | 841326 |
| Emera, Inc., Series 16-A, VRN, 6.75%, 6/15/76 |  | 2947000 | 2953086 |
| Empresas Publicas de Medellin ESP, 4.25%, 7/18/29<sup>(1)</sup> |  | 972000 | 904606 |
| FirstEnergy Pennsylvania Electric Co., 4.55%, 3/15/31<sup>(1)</sup> |  | 3284000 | 3273646 |
| Hawaiian Electric Co., Inc., 6.00%, 10/1/33<sup>(1)</sup> |  | 1603000 | 1602032 |
| Puget Energy, Inc., VRN, 7.00%, 9/15/56<sup>(1)</sup> |  | 1109000 | 1100899 |
| Puget Energy, Inc., VRN, 7.25%, 9/15/56<sup>(1)</sup> |  | 1109000 | 1104835 |
| Sierra Pacific Power Co., VRN, 6.375%, 9/15/56 |  | 1093000 | 1084396 |
| VoltaGrid LLC, 7.375%, 11/1/30<sup>(1)</sup> |  | 780000 | 805950 |
| Xcel Energy, Inc., VRN, 5.75%, 12/3/56 |  | 1728000 | 1687354 |
|  |  |  | 18221537 |
| **Electrical Equipment — 0.0%** |  |  |  |
| WESCO Distribution, Inc., 5.25%, 4/15/31<sup>(1)</sup> |  | 268000 | 267070 |
| **Entertainment — 0.5%** |  |  |  |
| Discovery Global Holdings, Inc., 3.76%, 3/15/27 |  | 2103000 | 2077238 |
| Discovery Global Holdings, Inc., 4.30%, 1/17/30 | EUR | 1704000 | 1880155 |
|  |  |  | 3957393 |
| **Financial Services — 2.2%** |  |  |  |
| Antares Holdings LP, 6.35%, 10/23/29<sup>(1)</sup> |  | $2730000 | 2703751 |
| Atlas Warehouse Lending Co. LP, 6.05%, 1/15/28<sup>(1)</sup> |  | 965000 | 978640 |
| Atlas Warehouse Lending Co. LP, 4.625%, 11/15/28<sup>(1)</sup> |  | 2935000 | 2891560 |
| Corebridge Global Funding, 4.45%, 10/2/30<sup>(1)</sup> |  | 2505000 | 2458167 |
| Corebridge Global Funding, 4.55%, 1/9/31<sup>(1)</sup> |  | 2225000 | 2197891 |
| Essent Group Ltd., 6.25%, 7/1/29 |  | 2010000 | 2080344 |
| Nationwide Building Society, VRN, 4.125%, 10/18/32<sup>(1)</sup> |  | 2887000 | 2850714 |
| NMI Holdings, Inc., 6.00%, 8/15/29 |  | 1600000 | 1637632 |
| Rocket Cos., Inc., 6.125%, 8/1/30<sup>(1)</sup> |  | 755000 | 762434 |
| Rocket Cos., Inc., 6.375%, 8/1/33<sup>(1)</sup> |  | 635000 | 642616 |
|  |  |  | 19203749 |
| **Ground Transportation — 0.4%** |  |  |  |
| Ashtead Capital, Inc., 4.375%, 8/15/27<sup>(1)</sup> |  | 2200000 | 2188622 |
| Fedex Freight Holding Co., Inc., 4.65%, 3/15/31<sup>(1)</sup> |  | 1789000 | 1759141 |
|  |  |  | 3947763 |
| **Health Care Equipment and Supplies — 0.5%** |  |  |  |
| Baxter International, Inc., 4.45%, 2/15/29 |  | 2680000 | 2647115 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/1/29<sup>(1)</sup> | $1888000 | $1926200 |
|  |  | 4573315 |
| **Health Care Providers and Services — 0.7%** |  |  |
| Acadia Healthcare Co., Inc., 5.00%, 4/15/29<sup>(1)</sup> | 1665000 | 1622393 |
| Icon Investments Six DAC, 5.81%, 5/8/27 | 235000 | 236255 |
| IQVIA, Inc., 5.00%, 5/15/27<sup>(1)</sup> | 2250000 | 2242810 |
| Universal Health Services, Inc., 1.65%, 9/1/26 | 2163000 | 2137415 |
|  |  | 6238873 |
| **Hotels, Restaurants and Leisure — 0.3%** |  |  |
| Airbnb, Inc., 4.40%, 3/16/29 | 2075000 | 2072634 |
| Carnival Corp., 5.125%, 5/1/29<sup>(1)</sup> | 872000 | 866076 |
|  |  | 2938710 |
| **Household Durables — 0.3%** |  |  |
| Taylor Morrison Communities, Inc., 5.75%, 1/15/28<sup>(1)</sup> | 946000 | 949158 |
| TopBuild Corp., 3.625%, 3/15/29<sup>(1)</sup> | 1475000 | 1405882 |
|  |  | 2355040 |
| **Independent Power and Renewable Electricity Producers — 0.2%** |  |  |
| Greenko Wind Projects Mauritius Ltd., 7.25%, 9/27/28<sup>(1)</sup> | 1822250 | 1810588 |
| **Insurance — 1.2%** |  |  |
| F&G Annuities & Life, Inc., 6.50%, 6/4/29 | 2410000 | 2421487 |
| Fortitude Global Funding, 4.625%, 10/6/28<sup>(1)</sup> | 1268000 | 1255662 |
| GA Global Funding Trust, 5.20%, 12/9/31<sup>(1)</sup> | 1590000 | 1558738 |
| Global Atlantic Fin Co., 4.40%, 10/15/29<sup>(1)</sup> | 2000000 | 1935576 |
| Liberty Mutual Group, Inc., VRN, 4.125%, 12/15/51<sup>(1)</sup> | 3440000 | 3361235 |
|  |  | 10532698 |
| **Interactive Media and Services — 0.3%** |  |  |
| Alphabet, Inc., 4.10%, 2/15/31 | 2470000 | 2453372 |
| **IT Services — 0.2%** |  |  |
| CoreWeave, Inc., 9.25%, 6/1/30<sup>(1)</sup> | 865000 | 841311 |
| Kyndryl Holdings, Inc., 2.70%, 10/15/28 | 1250000 | 1156522 |
|  |  | 1997833 |
| **Leisure Products — 0.3%** |  |  |
| Mattel, Inc., 5.875%, 12/15/27<sup>(1)</sup> | 2270000 | 2269993 |
| **Life Sciences Tools and Services — 0.1%** |  |  |
| Illumina, Inc., 4.65%, 9/9/26 | 1291000 | 1291309 |
| **Media — 2.4%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.125%, 5/1/27<sup>(1)</sup> | 622000 | 621707 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.00%, 2/1/28<sup>(1)</sup> | 2110000 | 2093954 |
| CCO Holdings LLC/CCO Holdings Capital Corp., 4.75%, 3/1/30<sup>(1)</sup> | 2145000 | 2036687 |
| Discovery Communications LLC, 3.95%, 3/20/28 | 1404000 | 1330206 |
| Discovery Communications LLC, 4.125%, 5/15/29 | 2030000 | 1961844 |
| Lamar Media Corp., 3.75%, 2/15/28 | 1935000 | 1883173 |
| Nexstar Media, Inc., 4.75%, 11/1/28<sup>(1)</sup> | 3860000 | 3798300 |
| Nexstar Media, Inc., 6.50%, 9/15/33<sup>(1)</sup> | 1376000 | 1387316 |
| Omnicom Group, Inc., 4.20%, 3/2/29 | 2752000 | 2723303 |
| Sirius XM Radio LLC, 4.00%, 7/15/28<sup>(1)</sup> | 1185000 | 1144539 |
| Univision Communications, Inc., 7.375%, 6/30/30<sup>(1)</sup> | 2570000 | 2520129 |
|  |  | 21501158 |
| **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 | 2365675 |
| **Multi-Utilities — 0.3%** |  |  |
| Sempra, VRN, 4.125%, 4/1/52 | 2657000 | 2586841 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| **Oil, Gas and Consumable Fuels — 4.1%** | | |
| Azule Energy Finance PLC, 8.25%, 1/22/31<sup>(1)</sup> | $424000 | $428664 |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.00%, 7/15/29<sup>(1)</sup> | 1350000 | 1395394 |
| Cenovus Energy, Inc., 4.65%, 3/20/31 | 3925000 | 3899199 |
| Enbridge, Inc., VRN, 6.00%, 1/15/77 | 4250000 | 4253936 |
| Enterprise Products Operating LLC, VRN, 5.25%, 8/16/77 | 3327000 | 3299747 |
| Expand Energy Corp., 5.375%, 3/15/30 | 4005000 | 4040121 |
| Ovintiv, Inc., 7.20%, 11/1/31 | 990000 | 1088349 |
| Ovintiv, Inc., 7.375%, 11/1/31 | 790000 | 874280 |
| Permian Resources Operating LLC, 5.875%, 7/1/29<sup>(1)</sup> | 608000 | 609052 |
| Permian Resources Operating LLC, 6.25%, 2/1/33<sup>(1)</sup> | 2919000 | 2975413 |
| Petroleos Mexicanos, 5.95%, 1/28/31 | 3860000 | 3693433 |
| PRIO Luxembourg Holding SARL, 6.75%, 10/15/30<sup>(1)</sup> | 541000 | 526934 |
| Sunoco LP, 5.875%, 3/15/34<sup>(1)</sup> | 677000 | 670003 |
| Targa Resources Corp., 4.35%, 1/15/29 | 2720000 | 2709220 |
| Targa Resources Corp., 4.35%, 4/15/31 | 1715000 | 1679435 |
| Venture Global LNG, Inc., 8.125%, 6/1/28<sup>(1)</sup> | 1860000 | 1903182 |
| Venture Global Plaquemines LNG LLC, 6.125%, 12/15/30<sup>(1)</sup> | 1330000 | 1368538 |
| Western Midstream Operating LP, 4.80%, 3/1/31 | 822000 | 814137 |
|  |  | 36229037 |
| **Paper and Forest Products — 0.2%** |  |  |
| Louisiana-Pacific Corp., 3.625%, 3/15/29<sup>(1)</sup> | 1494000 | 1433997 |
| **Passenger Airlines — 1.0%** |  |  |
| American Airlines Pass-Through Trust, Class A, 3.70%, 4/1/28 | 65870 | 65651 |
| American Airlines, Inc., 7.25%, 2/15/28<sup>(1)</sup> | 1495000 | 1504663 |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26<sup>(1)</sup> | 63 | 64 |
| Avianca Midco 2 PLC, 9.625%, 2/14/30<sup>(1)</sup> | 1809000 | 1693477 |
| JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31<sup>(1)</sup> | 2206000 | 2087799 |
| Latam Airlines Group SA, 7.875%, 4/15/30<sup>(1)</sup> | 644000 | 651245 |
| United Airlines Holdings, Inc., 5.375%, 3/1/31 | 2020000 | 1980745 |
| United Airlines, Inc., 4.625%, 4/15/29<sup>(1)</sup> | 1170000 | 1148681 |
|  |  | 9132325 |
| **Professional Services — 0.2%** |  |  |
| Concentrix Corp., 6.60%, 8/2/28 | 1895000 | 1883983 |
| **Real Estate Management and Development — 0.2%** |  |  |
| Arbor Realty SR, Inc., 8.50%, 12/15/28<sup>(1)</sup> | 1370000 | 1346954 |
| **Semiconductors and Semiconductor Equipment — 0.2%** |  |  |
| Micron Technology, Inc., 5.30%, 1/15/31 | 2060000 | 2156939 |
| **Software — 1.3%** |  |  |
| AppLovin Corp., 5.125%, 12/1/29 | 2160000 | 2173029 |
| AppLovin Corp., 5.375%, 12/1/31 | 1938000 | 1957717 |
| Oracle Corp., 4.95%, 2/4/31 | 1400000 | 1370293 |
| Salesforce, Inc., 4.50%, 3/15/28 | 1670000 | 1671006 |
| Salesforce, Inc., 4.65%, 3/15/29 | 1670000 | 1673721 |
| SS&C Technologies, Inc., 6.50%, 6/1/32<sup>(1)</sup> | 2547000 | 2548704 |
|  |  | 11394470 |
| **Specialized REITs — 0.5%** |  |  |
| SBA Communications Corp., 3.125%, 2/1/29 | 4402000 | 4173870 |
| **Specialty Retail — 0.1%** |  |  |
| Advance Auto Parts, Inc., 7.00%, 8/1/30<sup>(1)</sup> | 1179000 | 1195166 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | | |
|:---|:---|:---|:---|
| | | **Principal Amount/Shares** | **Value** |
| **Trading Companies and Distributors — 0.6%** | | | |
| Aircastle Ltd., 6.50%, 7/18/28<sup>(1)</sup> |  | $2160000 | $2240585 |
| Herc Holdings, Inc., 7.00%, 6/15/30<sup>(1)</sup> |  | 2720000 | 2790948 |
|  |  |  | 5031533 |
| **TOTAL CORPORATE BONDS** <br>(Cost $377,251,936) |  |  | **375381177** |
| **ASSET-BACKED SECURITIES — 14.8%** |  |  |  |
| ACM Auto Trust, Series 2023-2A, Class B, 9.85%, 6/20/30<sup>(1)</sup> |  | 1305027 | 1315415 |
| ACM Auto Trust, Series 2025-2A, Class A, SEQ, 5.55%, 6/20/28<sup>(1)</sup> |  | 1751474 | 1753981 |
| ACM Auto Trust, Series 2025-2A, Class B, 7.25%, 2/20/32<sup>(1)</sup> |  | 1942000 | 1951508 |
| ACM Auto Trust, Series 2025-3A, Class B, 6.08%, 7/20/32<sup>(1)</sup> |  | 3833000 | 3814229 |
| ACM Auto Trust, Series 2025-4A, Class A, SEQ, 5.87%, 5/20/30<sup>(1)</sup> |  | 1480056 | 1483628 |
| AMCR ABS Trust, Series 2026-A, Class A, SEQ, 5.52%, 5/18/33<sup>(1)(2)</sup> |  | 1902594 | 1902538 |
| Aqua Finance Issuer Trust, Series 2025-B, Class D, 6.16%, 5/17/51<sup>(1)</sup> |  | 1728936 | 1741445 |
| Avant Loans Funding Trust, Series 2026-REV1, Class D, 5.56%, 5/15/36<sup>(1)</sup> |  | 2960000 | 2933594 |
| Barclays Mortgage Loan Trust, Series 2026-CES1, Class A2, 5.15%, 1/25/56<sup>(1)</sup> |  | 3569200 | 3513684 |
| Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B, 3.45%, 7/15/46<sup>(1)</sup> |  | 1085385 | 1036827 |
| Bluepeak ABS Issuer LLC, Series 2025-1A, Class A2, SEQ, 5.86%, 12/20/55<sup>(1)</sup> |  | 1902909 | 1928429 |
| Castlelake Aircraft Securitization Trust, Series 2018-1, Class A, SEQ, 4.125%, 6/15/43<sup>(1)</sup> |  | 503762 | 501379 |
| Centersquare Issuer LLC, Series 2025-3A, Class A2, SEQ, 5.00%, 8/25/55<sup>(1)</sup> |  | 3342769 | 3196302 |
| Cherry Securitization Trust, Series 2025-1A, Class B, 6.53%, 11/15/32<sup>(1)</sup> |  | 3349000 | 3380789 |
| College Avenue Student Loans LLC, Series 2019-A, Class C, 4.46%, 12/28/48<sup>(1)</sup> |  | 2563779 | 2512816 |
| Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52<sup>(1)</sup> | CAD | 1850000 | 1311311 |
| Compass Datacenters Issuer III LLC, Series 2026-1A, Class A23, SEQ, 5.44%, 2/25/56<sup>(1)</sup> |  | $3273787 | 3213351 |
| Concord Music Royalties LLC, Series 2024-1A, Class A, SEQ, 5.64%, 10/20/74<sup>(1)</sup> |  | 4087000 | 4105217 |
| Concord Music Royalties LLC, Series 2025-1A, Class A2, SEQ, 5.51%, 7/20/75<sup>(1)</sup> |  | 2362000 | 2368751 |
| DataBank Issuer LLC, Series 2023-1A, Class A2, SEQ, 5.12%, 2/25/53<sup>(1)</sup> |  | 2862000 | 2847379 |
| DataBank Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.81%, 2/25/56<sup>(1)</sup> |  | 2934000 | 2921958 |
| EDI ABS Issuer 1 LLC, Series 2025-1A, Class B, 4.55%, 7/25/55<sup>(1)</sup> |  | 1356000 | 1256482 |
| FinBe USA Trust, Series 2025-1A, Class B, 6.60%, 12/16/30<sup>(1)</sup> |  | 2878000 | 2874073 |
| FIP Master Funding LLC, Series 2026-1A, Class A5, SEQ, 5.39%, 3/15/56<sup>(1)</sup> |  | 2915009 | 2914499 |
| Flexential Issuer LLC, Series 2025-1A, Class A2, SEQ, 6.03%, 10/25/60<sup>(1)</sup> |  | 2300000 | 2289451 |
| GoodLeap Sustainable Home Solutions Trust, Series 2021-4GS, Class A, SEQ, 1.93%, 7/20/48<sup>(1)</sup> |  | 1110403 | 889450 |
| GS Mortgage-Backed Securities Trust, Series 2024-HE1, Class A1, VRN, 5.26%, (30-day average SOFR plus 1.60%), 8/25/54<sup>(1)</sup> |  | 873102 | 875210 |
| Hilton Grand Vacations Trust, Series 2024-2A, Class D, 6.91%, 3/25/38<sup>(1)</sup> |  | 557540 | 569682 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A1A, 4.91%, 6/25/56<sup>(1)</sup> |  | 4245383 | 4214593 |
| JP Morgan Mortgage Trust, Series 2026-CES1, Class A2, 5.18%, 6/25/56<sup>(1)</sup> |  | 3225000 | 3200123 |
| Kobalt Music Assets LP, Series 2024-1A, Class A2, SEQ, 6.625%, 4/7/64<sup>(1)</sup> |  | 1400000 | 1416569 |
| LMRK Issuer Co. 2 LLC, Series 2025-1A, Class A, SEQ, 5.52%, 9/15/55<sup>(1)</sup> |  | 2671000 | 2670493 |
| Lyra Music Assets Delaware LP, Series 2024-2A, Class A2, SEQ, 5.76%, 12/22/64<sup>(1)</sup> |  | 2300067 | 2314657 |
| Lyra Music Assets Delaware LP, Series 2025-1A, Class A2, SEQ, 5.60%, 9/20/65<sup>(1)</sup> |  | 1329044 | 1338259 |
| M&T Bank RV Trust, Series 2026-1A, Class A, SEQ, 4.35%, 1/15/46<sup>(1)</sup> |  | 4528974 | 4486496 |
| Mission Lane Credit Card Master Trust, Series 2024-B, Class B, 6.32%, 1/15/30<sup>(1)</sup> |  | 1644000 | 1649572 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 5.41%, 9/15/31<sup>(1)</sup> |  | 2293000 | 2301387 |
| Mosaic Solar Loan Trust, Series 2021-3A, Class B, 1.92%, 6/20/52<sup>(1)</sup> |  | 2812368 | 2036510 |
| Mosaic Solar Loan Trust, Series 2023-2A, Class A, SEQ, 5.36%, 9/22/53<sup>(1)</sup> |  | 917117 | 877539 |
| New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class B1, 2.41%, 10/20/61<sup>(1)</sup> |  | 2500000 | 1610951 |
| NP SPE IX LP, Series 2019-1A, Class A1, SEQ, 2.57%, 9/20/49<sup>(1)</sup> |  | 77167 | 76515 |
| OnDeck Asset Securitization Trust IV LLC, Series 2024-2A, Class B, 5.42%, 10/17/31<sup>(1)</sup> |  | 1357000 | 1346049 |
| Oportun Issuance Trust, Series 2026-A, Class D, 6.28%, 1/9/34<sup>(1)</sup> |  | 3310000 | 3302500 |
| Pagaya AI Debt Grantor Trust, Series 2026-2, Class B, 6.03%, 11/15/33<sup>(1)(2)</sup> |  | 2694586 | 2694586 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Pawneee Equipment Receivables LLC, Series 2022-1, Class D, 7.23%, 7/17/28<sup>(1)</sup> | $1847000 | $1851316 |
| Purchasing Power Funding LLC, Series 2026-A, Class D, 5.40%, 8/15/30<sup>(1)</sup> | 3201000 | 3179321 |
| RCKT Mortgage Trust, Series 2024-CES4, Class A3, SEQ, 6.67%, 6/25/44<sup>(1)</sup> | 2675000 | 2703637 |
| RCKT Trust, Series 2025-1A, Class D, 5.42%, 7/25/34<sup>(1)</sup> | 1265000 | 1262963 |
| Research-Driven Pagaya Motor Asset Trust, Series 2026-1A, Class C, 5.69%, 1/25/35<sup>(1)</sup> | 1910000 | 1898403 |
| RNL PH Owner LLC, Series 2026-1A, Class C, 5.59%, 3/20/56<sup>(1)</sup> | 2914371 | 2875098 |
| Santander Mortgage Asset Receivable Trust, Series 2026-CES1, Class A1A, SEQ, 4.88%, 1/25/56<sup>(1)</sup> | 3145815 | 3124165 |
| Scalelogix ABS U.S. Issuer LLC, Series 2025-1A, Class B, 6.16%, 7/25/55<sup>(1)</sup> | 2350000 | 2314891 |
| SEB Funding LLC, Series 2024-1A, Class A2, SEQ, 7.39%, 4/30/54<sup>(1)</sup> | 2166000 | 2206467 |
| Stack Infrastructure Issuer LLC, Series 2026-1A, Class A2, SEQ, 5.00%, 3/27/56<sup>(1)</sup> | 2838378 | 2736961 |
| United Auto Credit Securitization Trust, Series 2026-1, Class D, 5.65%, 7/10/31<sup>(1)</sup> | 2597000 | 2583424 |
| Uniti Fiber ABS Issuer LLC, Series 2025-1A, Class B, 6.37%, 4/20/55<sup>(1)</sup> | 1993738 | 2029023 |
| Vertical Bridge CC LLC, Series 2025-1A, Class C, 7.45%, 8/16/55<sup>(1)</sup> | 2339519 | 2373732 |
| Vista Point Securitization Trust, Series 2024-CES1, Class A1, 6.68%, 5/25/54<sup>(1)</sup> | 1138575 | 1151292 |
| Westgate Resorts LLC, Series 2026-1A, Class C, 6.08%, 10/20/39<sup>(1)</sup> | 1704000 | 1703837 |
| **TOTAL ASSET-BACKED SECURITIES** <br>(Cost $132,050,410) |  | **130934707** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 14.3%** |  |  |
| **Private Sponsor Collateralized Mortgage Obligations — 13.9%** |  |  |
| Angel Oak Mortgage Trust, Series 2019-5, Class A3, VRN, 2.92%, 10/25/49<sup>(1)</sup> | 328820 | 326406 |
| Barclays Mortgage Loan Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 12/25/65<sup>(1)</sup> | 3997307 | 3947084 |
| BRAVO Residential Funding Trust, Series 2025-NQM7, Class A1B, 5.46%, 7/25/65<sup>(1)</sup> | 2433880 | 2439662 |
| BRAVO Residential Funding Trust, Series 2025-SR1, Class A1, SEQ, 3.00%, 3/25/45<sup>(1)</sup> | 1861918 | 1795354 |
| Chase Home Lending Mortgage Trust, Series 2024-6, Class A9A, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 958638 | 962305 |
| Chase Home Lending Mortgage Trust, Series 2024-7, Class A4, VRN, 6.00%, 6/25/55<sup>(1)</sup> | 3832021 | 3848658 |
| Chase Home Lending Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 284990 | 284636 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 761706 | 762741 |
| Chase Home Lending Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 136618 | 136391 |
| Chase Home Lending Mortgage Trust, Series 2025-2, Class A4, VRN, 6.00%, 12/25/55<sup>(1)</sup> | 2298586 | 2311572 |
| Chase Home Lending Mortgage Trust, Series 2025-5, Class A4A, VRN, 5.50%, 4/25/56<sup>(1)</sup> | 1798045 | 1798419 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A4, SEQ, VRN, 6.00%, 6/25/56<sup>(1)</sup> | 2417303 | 2431278 |
| Chase Home Lending Mortgage Trust, Series 2025-8, Class A9, VRN, 6.25%, 6/25/56<sup>(1)</sup> | 2152069 | 2156873 |
| Chase Home Lending Mortgage Trust, Series 2025-9, Class A4A, SEQ, VRN, 5.50%, 6/25/56<sup>(1)</sup> | 2901362 | 2905668 |
| Citigroup Mortgage Loan Trust, Series 2024-CMI1, Class A11, VRN, 5.50%, 6/25/54<sup>(1)</sup> | 1278653 | 1280526 |
| Citigroup Mortgage Loan Trust, Inc., Series 2024-1, Class A7A, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 914289 | 918220 |
| Citigroup Mortgage Loan Trust, Inc., Series 2025-2, Class A10, VRN, 6.00%, 2/25/55<sup>(1)</sup> | 2784950 | 2799410 |
| COLT Mortgage Loan Trust, Series 2025-8, Class A3, 5.89%, 8/25/70<sup>(1)</sup> | 1736947 | 1744358 |
| Cross Mortgage Trust, Series 2024-H3, Class A2, 6.58%, 6/25/69<sup>(1)</sup> | 1457448 | 1469769 |
| Ellington Financial Mortgage Trust, Series 2025-NQM3, Class A1B, 5.49%, 8/25/70<sup>(1)</sup> | 3125371 | 3130968 |
| GS Mortgage-Backed Securities Trust, Series 2024-PJ7, Class A7, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 765304 | 764734 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ5, Class A5, VRN, 5.50%, 10/25/55<sup>(1)</sup> | 1257457 | 1258783 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ6, Class A4, SEQ, VRN, 6.00%, 11/25/55<sup>(1)</sup> | 2136906 | 2146790 |
| GS Mortgage-Backed Securities Trust, Series 2025-PJ7, Class A5, SEQ, VRN, 5.50%, 12/25/55<sup>(1)</sup> | 1864236 | 1866346 |
| HOMES Trust, Series 2025-AFC3, Class A1, VRN, 4.93%, 8/25/60<sup>(1)</sup> | 1862433 | 1857334 |
| JP Morgan Mortgage Trust, Series 2023-6, Class A4, SEQ, VRN, 6.00%, 12/26/53<sup>(1)</sup> | 1208854 | 1214841 |
| JP Morgan Mortgage Trust, Series 2023-8, Class A4, SEQ, VRN, 6.00%, 2/25/54<sup>(1)</sup> | 2374733 | 2386532 |
| JP Morgan Mortgage Trust, Series 2024-1, Class A4, SEQ, VRN, 6.00%, 6/25/54<sup>(1)</sup> | 1071345 | 1074463 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A4, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 895389 | 896936 |
| JP Morgan Mortgage Trust, Series 2024-10, Class A6, SEQ, VRN, 5.50%, 3/25/55<sup>(1)</sup> | 926729 | 926864 |
| JP Morgan Mortgage Trust, Series 2024-5, Class A6, SEQ, VRN, 6.00%, 11/25/54<sup>(1)</sup> | 319297 | 319210 |
| JP Morgan Mortgage Trust, Series 2024-6, Class A6, SEQ, VRN, 6.00%, 12/25/54<sup>(1)</sup> | 84847 | 84682 |
| JP Morgan Mortgage Trust, Series 2024-8, Class A3, VRN, 5.50%, 1/25/55<sup>(1)</sup> | 909151 | 905323 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| JP Morgan Mortgage Trust, Series 2024-8, Class A6A, SEQ, VRN, 5.50%, 1/25/55<sup>(1)</sup> | $185963 | $185562 |
| JP Morgan Mortgage Trust, Series 2024-9, Class A6, SEQ, VRN, 5.50%, 2/25/55<sup>(1)</sup> | 188654 | 188312 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, SEQ, VRN, 6.00%, 4/25/55<sup>(1)</sup> | 954064 | 958187 |
| JP Morgan Mortgage Trust, Series 2025-5MPR, Class A3, 6.16%, 11/25/55<sup>(1)</sup> | 1963335 | 1968233 |
| JP Morgan Mortgage Trust, Series 2025-CCM2, Class A4, SEQ, VRN, 6.00%, 9/25/55<sup>(1)</sup> | 2925700 | 2941527 |
| JP Morgan Mortgage Trust, Series 2025-NQM2, Class A1B, 5.57%, 9/25/65<sup>(1)</sup> | 1857497 | 1863465 |
| JP Morgan Mortgage Trust, Series 2026-ACES1, Class A2, VRN, 5.16%, 4/25/66<sup>(1)</sup> | 3714000 | 3679413 |
| JP Morgan Mortgage Trust, Series 2026-NQX1, Class A2, 5.81%, 7/25/66<sup>(1)</sup> | 3025000 | 3024966 |
| MFA Trust, Series 2023-NQM3, Class A1, SEQ, 6.62%, 7/25/68<sup>(1)</sup> | 1485540 | 1489646 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-3, Class A2, VRN, 6.00%, 7/25/54<sup>(1)</sup> | 443240 | 443598 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM1, Class A3, 6.14%, 11/25/69<sup>(1)</sup> | 2715796 | 2744641 |
| OBX Trust, Series 2024-J1, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 433487 | 434046 |
| OBX Trust, Series 2024-NQM10, Class A3, 6.43%, 5/25/64<sup>(1)</sup> | 374649 | 378044 |
| OBX Trust, Series 2024-NQM11, Class A3, 6.23%, 6/25/64<sup>(1)</sup> | 1603325 | 1616267 |
| OBX Trust, Series 2025-J1, Class A4, SEQ, VRN, 6.00%, 5/25/55<sup>(1)</sup> | 2362225 | 2374653 |
| PMT Loan Trust, Series 2025-J2, Class A9, VRN, 5.50%, 8/25/56<sup>(1)</sup> | 2844349 | 2845235 |
| PMT Loan Trust, Series 2026-CNF3, Class A3, VRN, 5.50%, 4/25/57<sup>(1)</sup> | 3299996 | 3313402 |
| PRKCM Trust, Series 2026-AFC1, Class A1, VRN, 4.68%, 2/25/61<sup>(1)</sup> | 3035044 | 3005407 |
| Provident Funding Mortgage Trust, Series 2024-1, Class A3, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 1824208 | 1826670 |
| Provident Funding Mortgage Trust, Series 2025-3, Class A4, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 1865107 | 1867698 |
| Provident Funding Mortgage Trust, Series 2025-4, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 2164651 | 2168490 |
| Radian Mortgage Capital Trust, Series 2025-J2, Class A15, VRN, 5.50%, 11/25/55<sup>(1)</sup> | 2580185 | 2583591 |
| Rate Mortgage Trust, Series 2024-J3, Class A8, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 1053447 | 1053303 |
| Rate Mortgage Trust, Series 2024-J4, Class A5, SEQ, VRN, 5.50%, 12/25/54<sup>(1)</sup> | 1413628 | 1415287 |
| Rate Mortgage Trust, Series 2025-J2, Class A5, VRN, 5.50%, 7/25/55<sup>(1)</sup> | 2423269 | 2426613 |
| Santander Mortgage Asset Receivable Trust, Series 2025-NQM3, Class A2, 5.85%, 5/25/65<sup>(1)</sup> | 1364218 | 1370483 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM2, Class A1, VRN, 4.70%, 1/25/66<sup>(1)</sup> | 2282286 | 2259006 |
| Santander Mortgage Asset Receivable Trust, Series 2026-NQM3, Class A1, VRN, 5.18%, 3/25/66<sup>(1)</sup> | 2607979 | 2604185 |
| Sequoia Mortgage Trust, Series 2024-10, Class A11, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 225851 | 225747 |
| Sequoia Mortgage Trust, Series 2024-10, Class A5, SEQ, VRN, 5.50%, 11/25/54<sup>(1)</sup> | 475851 | 476638 |
| Sequoia Mortgage Trust, Series 2024-8, Class A11, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 306347 | 305823 |
| Sequoia Mortgage Trust, Series 2024-8, Class A5, SEQ, VRN, 5.50%, 9/25/54<sup>(1)</sup> | 910672 | 911905 |
| Sequoia Mortgage Trust, Series 2024-9, Class A5, SEQ, VRN, 5.50%, 10/25/54<sup>(1)</sup> | 574917 | 575655 |
| Sequoia Mortgage Trust, Series 2025-2, Class A19, VRN, 6.00%, 3/25/55<sup>(1)</sup> | 1852660 | 1857709 |
| Sequoia Mortgage Trust, Series 2025-5, Class A5, SEQ, VRN, 5.50%, 6/25/55<sup>(1)</sup> | 2584055 | 2587435 |
| Sequoia Mortgage Trust, Series 2025-7, Class A5, SEQ, VRN, 5.50%, 8/25/55<sup>(1)</sup> | 2280507 | 2283562 |
| Sequoia Mortgage Trust, Series 2025-8, Class A4, VRN, 5.50%, 9/25/55<sup>(1)</sup> | 1634398 | 1636726 |
| Triangle Re Ltd., Series 2023-1, Class M1A, VRN, 7.06%, (30-day average SOFR plus 3.40%), 11/25/33<sup>(1)</sup> | 505113 | 508538 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.22%, 6/25/69<sup>(1)</sup> | 1164388 | 1174646 |
| Verus Securitization Trust, Series 2024-4, Class A2, 6.57%, 6/25/69<sup>(1)</sup> | 1222661 | 1234203 |
| Verus Securitization Trust, Series 2024-9, Class A3, 5.89%, 11/25/69<sup>(1)</sup> | 2281670 | 2291531 |
| Verus Securitization Trust, Series 2025-4, Class A3, 5.75%, 5/25/70<sup>(1)</sup> | 1094924 | 1098073 |
|  |  | 123351257 |
| **U.S. Government Agency Collateralized Mortgage Obligations — 0.4%** |  |  |
| FHLMC, Series 2022-DNA5, Class M1A, VRN, 6.61%, (30-day average SOFR plus 2.95%), 6/25/42<sup>(1)</sup> | 494727 | 502186 |
| FHLMC, Series 377, Class C4, IO, 2.00%, 1/25/51 | 17554391 | 2308215 |
| FNMA, Series 2016-55, Class PI, IO, 4.00%, 8/25/46 | 1082848 | 182995 |
| FNMA, Series 2017-7, Class AI, IO, 6.00%, 2/25/47 | 667324 | 110788 |
| FNMA, Series 413, Class C27, IO, 4.00%, 7/25/42 | 1028879 | 140027 |
|  |  | 3244211 |
| **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS** <br>(Cost $126,361,032) |  | **126595468** |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
|<br>**U.S. TREASURY SECURITIES — 10.3%** | **Principal Amount/Shares** | **Value** |
| U.S. Treasury Notes, 4.50%, 5/15/27<sup>(3)</sup> | $400000 | $402984 |
| U.S. Treasury Notes, 3.875%, 10/15/27<sup>(3)</sup> | 900000 | 900668 |
| U.S. Treasury Notes, 3.375%, 12/31/27 | 7500000 | 7443018 |
| U.S. Treasury Notes, 3.50%, 1/31/28 | 5000000 | 4971875 |
| U.S. Treasury Notes, 3.875%, 3/31/28 | 11000000 | 11016758 |
| U.S. Treasury Notes, 4.625%, 9/30/28<sup>(3)</sup> | 1000000 | 1019258 |
| U.S. Treasury Notes, 3.50%, 11/15/28 | 2000000 | 1983984 |
| U.S. Treasury Notes, 3.50%, 12/15/28 | 14500000 | 14381904 |
| U.S. Treasury Notes, 4.125%, 3/31/29 | 48500000 | 48911113 |
| **TOTAL U.S. TREASURY SECURITIES** <br>(Cost $91,107,049) |  | **91031562** |
| **CONVERTIBLE PREFERRED SECURITIES — 7.6%** |  |  |
| **Banks — 7.2%** |  |  |
| Banco Bilbao Vizcaya Argentaria SA, 6.125% | 2600000 | 2595841 |
| Banco Bilbao Vizcaya Argentaria SA, 9.375% | 1371000 | 1482244 |
| Banco Davivienda SA, 6.65%<sup>(1)</sup> | 1338000 | 1182849 |
| Banco Mercantil del Norte SA, 5.875%<sup>(1)</sup> | 1091000 | 1078381 |
| Banco Mercantil del Norte SA, 7.50%<sup>(1)</sup> | 1352000 | 1352761 |
| Banco Santander SA, 4.75% | 3500000 | 3463759 |
| Banco Santander SA, 9.625% | 1400000 | 1508767 |
| Barclays PLC, 8.00% | 3993000 | 4133908 |
| BNP Paribas SA, 8.50%<sup>(1)</sup> | 5420000 | 5650876 |
| Commerzbank AG, 7.50% | 1200000 | 1217314 |
| Credit Agricole SA, VRN, 4.75%<sup>(1)</sup> | 1691000 | 1611033 |
| HSBC Holdings PLC, 6.50% | 3224000 | 3223124 |
| HSBC Holdings PLC, 6.875% | 1551000 | 1562474 |
| HSBC Holdings PLC, VRN, 6.75% | 1298000 | 1284502 |
| ING Groep NV, 4.875% | 4157000 | 3920957 |
| ING Groep NV, 7.50% | 2518000 | 2576227 |
| Lloyds Banking Group PLC, 8.00% | 3370000 | 3540353 |
| Macquarie Bank Ltd., 6.125%<sup>(1)</sup> | 3537000 | 3561405 |
| Skandinaviska Enskilda Banken AB, 6.875% | 4400000 | 4427726 |
| Societe Generale SA, 6.75%<sup>(1)</sup> | 805000 | 802417 |
| Societe Generale SA, 9.375%<sup>(1)</sup> | 3015000 | 3154079 |
| Societe Generale SA, 10.00%<sup>(1)</sup> | 780000 | 842911 |
| Standard Chartered PLC, 7.75%<sup>(1)</sup> | 754000 | 771686 |
| Standard Chartered PLC, 7.875%<sup>(1)</sup> | 590000 | 613421 |
| Svenska Handelsbanken AB, 4.375% | 2800000 | 2754077 |
| Swedbank AB, 7.625% | 4600000 | 4732465 |
|  |  | 63045557 |
| **Capital Markets — 0.4%** |  |  |
| UBS Group AG, 9.25%<sup>(1)</sup> | 3510000 | 3743258 |
| **TOTAL CONVERTIBLE PREFERRED SECURITIES** <br>(Cost $67,296,032) |  | **66788815** |
| **PREFERRED SECURITIES — 3.7%** |  |  |
| **Banks — 1.1%** |  |  |
| Bank of America Corp., 4.375% | 1710000 | 1690214 |
| Citigroup, Inc., 7.625% | 3497000 | 3618377 |
| JPMorgan Chase & Co., 3.65% | 2872000 | 2860477 |
| KeyCorp, 5.00% | 1970000 | 1954785 |
|  |  | 10123853 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| **Capital Markets — 0.8%** | | |
| Charles Schwab Corp., 4.00% | 3286000 | $3265781 |
| Goldman Sachs Group, Inc., 3.80% | 2290000 | 2286367 |
| Northern Trust Corp., 4.60% | 1905000 | 1891825 |
|  |  | 7443973 |
| **Electric Utilities — 0.1%** |  |  |
| NRG Energy, Inc., 10.25%<sup>(1)</sup> | 1062000 | 1146244 |
| **Independent Power and Renewable Electricity Producers — 0.4%** |  |  |
| Vistra Corp., 8.00%<sup>(1)</sup> | 3050000 | 3084206 |
| **Multi-Utilities — 0.3%** |  |  |
| Dominion Energy, Inc., 4.35% | 2512000 | 2474383 |
| **Oil, Gas and Consumable Fuels — 0.4%** |  |  |
| Energy Transfer LP, 6.50% | 2270000 | 2267329 |
| Energy Transfer LP, 6.625% | 1183000 | 1184056 |
|  |  | 3451385 |
| **Trading Companies and Distributors — 0.6%** |  |  |
| Air Lease Corp., 4.65% | 1875000 | 1871590 |
| Aircastle Ltd., 5.25%<sup>(1)</sup> | 3003000 | 2998843 |
|  |  | 4870433 |
| **TOTAL PREFERRED SECURITIES** <br>(Cost $32,515,436) |  | **32594477** |
| **COMMERCIAL MORTGAGE-BACKED SECURITIES — 3.7%** |  |  |
| Bank, Series 2018-BN15, Class D, 3.00%, 11/15/61<sup>(1)</sup> | $462000 | 382197 |
| Bank, Series 2019-BN17, Class D, 3.00%, 4/15/52<sup>(1)</sup> | 612000 | 512766 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class D, VRN, 5.95%, (1-month SOFR plus 2.27%), 11/15/34<sup>(1)(4)(5)</sup> | 1683000 | 22178 |
| BBCMS Mortgage Trust, Series 2019-BWAY, Class E, VRN, 6.64%, (1-month SOFR plus 2.96%), 11/15/34<sup>(1)(4)(5)</sup> | 1581000 | 10363 |
| Benchmark Mortgage Trust, Series 2018-B5, Class B, 4.57%, 7/15/51 | 921010 | 874348 |
| Benchmark Mortgage Trust, Series 2018-B5, Class D, VRN, 3.09%, 7/15/51<sup>(1)</sup> | 834000 | 664677 |
| Benchmark Mortgage Trust, Series 2019-B13, Class D, 2.50%, 8/15/57<sup>(1)</sup> | 463000 | 284466 |
| Citigroup Commercial Mortgage Trust, Series 2020-555, Class E, VRN, 3.50%, 12/10/41<sup>(1)</sup> | 3199000 | 2870763 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class A, VRN, 4.94%, (1-month SOFR plus 1.26%), 11/15/38<sup>(1)</sup> | 799000 | 789009 |
| Credit Suisse Mortgage Trust, Series 2021-BHAR, Class B, VRN, 5.29%, (1-month SOFR plus 1.61%), 11/15/38<sup>(1)</sup> | 1726000 | 1710366 |
| LQR Trust, Series 2025-CALI, Class C, VRN, 5.92%, (1-month SOFR plus 2.25%), 1/15/43 | 3131000 | 3112076 |
| Morgan Stanley Capital I Trust, Series 2018-H3, Class D, 3.00%, 7/15/51<sup>(1)</sup> | 437000 | 362041 |
| Morgan Stanley Capital I Trust, Series 2018-L1, Class D, 3.00%, 10/15/51<sup>(1)</sup> | 769000 | 652195 |
| NCMF Trust, Series 2025-MFS, Class C, VRN, 6.04%, 6/10/33<sup>(1)</sup> | 2954000 | 2979253 |
| SCG Mortgage Trust, Series 2024-MSP, Class B, VRN, 6.11%, (1-month SOFR plus 2.44%), 4/15/41<sup>(1)</sup> | 2564000 | 2560390 |
| SHR Trust, Series 2024-LXRY, Class B, VRN, 6.12%, (1-month SOFR plus 2.45%), 10/15/41<sup>(1)</sup> | 2171000 | 2169825 |
| SMRT Commercial Mortgage Trust, Series 2022-MINI, Class B, VRN, 5.02%, (1-month SOFR plus 1.35%), 1/15/39<sup>(1)</sup> | 1000000 | 999040 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, VRN, 5.12%, (1-month SOFR plus 1.44%), 2/15/42<sup>(1)</sup> | 2250000 | 2225357 |
| THPT Mortgage Trust, Series 2023-THL, Class B, VRN, 7.67%, 12/10/34<sup>(1)</sup> | 2990000 | 3012055 |
| UBS Commercial Mortgage Trust, Series 2018-C14, Class B, VRN, 5.10%, 12/15/51 | 1929000 | 1879097 |
| UBS Commercial Mortgage Trust, Series 2018-C15, Class D, VRN, 5.14%, 12/15/51<sup>(1)</sup> | 381000 | 347796 |
| Velocity Commercial Capital Loan Trust, Series 2026-1, Class M2, VRN, 5.89%, 2/25/56<sup>(1)</sup> | 1381969 | 1365629 |
| WB Commercial Mortgage Trust, Series 2024-HQ, Class A, SEQ, VRN, 5.54%, 3/15/40<sup>(1)</sup> | 1939000 | 1943664 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C41, Class D, VRN, 2.60%, 11/15/50<sup>(1)</sup> | 393000 | 341350 |

---

------

Schedule of Investments - Short Duration Strategic Income Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount/Shares** | **Value** |
| Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class D, 2.50%, 2/15/53<sup>(1)</sup> | $470000 | $327361 |
| **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** <br>(Cost $35,276,380) |  | **32398262** |
| **MUNICIPAL SECURITIES — 0.9%** |  |  |
| Build NYC Resource Corp. Rev., (RiverSpring Health Senior Living, Inc. Obligated Group), 7.00%, 12/15/30 <sup>(1)</sup> | 6395000 | 6348133 |
| Florida Local Government Finance Commission Rev., (Ponte Vedra Pine Co. LLC Obligated Group), 6.75%, 11/15/30 <sup>(1)</sup> | 1920000 | 1923050 |
| **TOTAL MUNICIPAL SECURITIES** <br>(Cost $8,315,000) |  | **8271183** |
| **SOVEREIGN GOVERNMENTS AND AGENCIES — 0.7%** |  |  |
| **Colombia — 0.5%** |  |  |
| Colombia Government International Bonds, 6.125%, 1/21/31 | 4000000 | 3940000 |
| **Mexico — 0.2%** |  |  |
| Eagle Funding Luxco SARL, 5.50%, 8/17/30<sup>(1)</sup> | 1879000 | 1891214 |
| **TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES** <br>(Cost $5,871,051) |  | **5831214** |
| **COLLATERALIZED LOAN OBLIGATIONS — 0.3%** |  |  |
| Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class A, VRN, 5.14%, (1-month SOFR plus 1.46%), 11/15/36<sup>(1)</sup> | 403137 | 403146 |
| BSPRT Issuer Ltd., Series 2023-FL10, Class A, VRN, 5.93%, (1-month SOFR plus 2.26%), 9/15/35<sup>(1)</sup> | 1059444 | 1059642 |
| Dryden 30 Senior Loan Fund, Series 2013-30A, Class CR, VRN, 5.61%, (3-month SOFR plus 1.96%), 11/15/28<sup>(1)</sup> | 1132271 | 1132345 |
| **TOTAL COLLATERALIZED LOAN OBLIGATIONS** <br>(Cost $2,557,903) |  | **2595133** |
| **BANK LOAN OBLIGATIONS**<sup>(6)</sup> **— 0.0%** |  |  |
| **Passenger Airlines — 0.0%** |  |  |
| American Airlines, Inc., 2024 1st Lien Term Loan B, 6.00%, (6-month SOFR plus 2.25%), 2/15/28<br>(Cost $464,860) | 470450 | **459865** |
| **SHORT-TERM INVESTMENTS — 0.9%** |  |  |
| **Repurchase Agreements — 0.9%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 2.75% - 3.50%, 8/15/47 - 4/30/28, valued at $8,031,605), at 3.66%, dated 3/31/26, due 4/1/26 (Delivery value $7,874,801)<br>(Cost $7,874,000) |  | **7874000** |
| **TOTAL INVESTMENT SECURITIES — 99.7%** <br>(Cost $886,941,089) |  | **880755863** |
| **OTHER ASSETS AND LIABILITIES — 0.3%** |  | **2802990** |
| **TOTAL NET ASSETS — 100.0%** |  | $**883558853** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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 | 1349933 | CAD | 1829192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citibank NA | 6/17/26 | $30630 |
| USD | 1904762 | EUR | 1645408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citibank NA | 6/17/26 | (3692) |
|  |  |  |  |  |  | $26938 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 | 305 | June 2026 | $63270820 | $116093 |

---

^Amount represents value and unrealized appreciation (depreciation).

------

Schedule of Investments - Short Duration Strategic 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 5-Year Notes | 170 | June 2026 | $18390547 | $106707 |
| U.S. Treasury 10-Year Notes | 154 | June 2026 | 17101219 | 261172 |
| U.S. Treasury 10-Year Ultra Notes | 132 | June 2026 | 14984062 | 256524 |
|  |  |  | $50475828 | $624403 |

---

^Amount represents value and unrealized appreciation (depreciation).

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| CAD | – | Canadian Dollar |
| EUR | – | Euro |
| FHLMC | – | Federal Home Loan Mortgage Corp. |
| FNMA | – | Federal National Mortgage Association |
| 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 $491,495,325, which represented 55.6% 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 foreign currency exchange contracts and/or futures contracts. At the period end, the aggregate value of securities pledged was $1,051,721.

(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.

------

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 |  | $375381177 |  |
| Asset-Backed Securities |  | 130934707 |  |
| Collateralized Mortgage Obligations |  | 126595468 |  |
| U.S. Treasury Securities |  | 91031562 |  |
| Convertible Preferred Securities |  | 66788815 |  |
| Preferred Securities |  | 32594477 |  |
| Commercial Mortgage-Backed Securities |  | 32398262 |  |
| Municipal Securities |  | 8271183 |  |
| Sovereign Governments and Agencies |  | 5831214 |  |
| Collateralized Loan Obligations |  | 2595133 |  |
| Bank Loan Obligations |  | 459865 |  |
| Short-Term Investments |  | 7874000 |  |
|  |  | $880755863 |  |
| **Other Financial Instruments** |  |  |  |
| Futures Contracts | $740496 |  |  |
| Forward Foreign Currency Exchange Contracts |  | $30630 |  |
|  | $740496 | $30630 |  |
| **Liabilities** |  |  |  |
| **Other Financial Instruments** |  |  |  |
| Forward Foreign Currency Exchange Contracts |  | $3692 |  |

---

**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 | $30630 |  | $30630 |
| **Liability Derivatives:** |  |  |  |
| &nbsp;&nbsp;Payable for variation margin on futures contracts\* |  | $83541 | $83541 |
| &nbsp;&nbsp;Unrealized depreciation on forward foreign currency exchange contracts | $3692 |  | 3692 |
|  |  |  | $87233 |

---

\*Included in the unrealized appreciation (depreciation) on futures contracts 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 March 31, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **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 |  | $(22435) |  | $(22435) |
| &nbsp;&nbsp;Futures contract transactions |  |  | $438030 | 438030 |
| &nbsp;&nbsp;Swap agreement transactions | $(588747) |  |  | (588747) |
|  |  |  |  | $(173152) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |  |  |
| &nbsp;&nbsp;Forward foreign currency exchange contracts |  | $27164 |  | $27164 |
| &nbsp;&nbsp;Futures contracts |  |  | $274617 | 274617 |
|  |  |  |  | $301781 |

---

See Notes to Financial Statements.

------

Schedule of Investments - U.S. Government Money Market Fund

**MARCH 31, 2026**

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| **CORPORATE BONDS — 47.1%** | | |
| 1450 Midvale Investors LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | $9855000 | $9855000 |
| 1834 Bentley Investors LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7840000 | 7840000 |
| 2140 Bentley Investors LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4225000 | 4225000 |
| 412 Madison LLC, VRDN, 3.75%, 4/7/26 (LOC: FNMA) | 27000000 | 27000000 |
| 500 Columbia Place LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 26050000 | 26050000 |
| 5th & Mendocino Partners Owner LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 17995000 | 17995000 |
| Allen C Stonecipher Life Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 6410000 | 6410000 |
| Anton Santa Cruz LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 15050000 | 15050000 |
| Barbour Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 9005000 | 9005000 |
| Buddy Petersen Insurance Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 6030000 | 6030000 |
| Champion Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4000000 | 4000000 |
| David Severino Family Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 3590000 | 3590000 |
| EPR GO Zone Holdings LLC, VRDN, 3.82%, 4/7/26 (LOC: FHLB) | 24995000 | 24995000 |
| Fairfield North Texas Associates LP, VRDN, 3.75%, 4/10/26 (LOC: FHLB) | 9550000 | 9550000 |
| Gillean Family Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 10025000 | 10025000 |
| Gold River 659 LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 21500000 | 21500000 |
| Grimm Wulf & Zeltwanger Investments Project, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 9000000 | 9000000 |
| Hartsfield Family Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7065000 | 7065000 |
| Housing Venture I LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 11145000 | 11145000 |
| Jefferson Centerpointe LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7300000 | 7300000 |
| Jefferson Exchange at Riverside LLC, Series B, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 31465000 | 31465000 |
| Jefferson Monrovia South LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 26300000 | 26300000 |
| JL Irrevocable Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 8275000 | 8275000 |
| Johnson Capital Management LLC, VRN, 3.93%, 6/1/47 (LOC: FHLB) | 1175000 | 1175000 |
| Johnston Family Insurance LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4035000 | 4035000 |
| KDF Glenview LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 3950000 | 3950000 |
| Krawitz Family Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 2480000 | 2480000 |
| Lee Bason Family Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7240000 | 7240000 |
| LEO@Carmel LLC, VRDN, 3.75%, 4/10/26 (LOC: FHLB) | 9800000 | 9800000 |
| Leo@cartersville LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 6900000 | 6900000 |
| Marvin J Base 2019 Irrevocable Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 7665000 | 7665000 |
| Michael K. Fuhrman & Kristin D. Fuhrman, VRDN, 3.80%, 4/10/26 (LOC: FHLB) | 5585000 | 5585000 |
| Nicholas David Nurse 2020 Irrevocable Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 4210000 | 4210000 |
| Rabb Family Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 7080000 | 7080000 |
| Richard F Wilks Spousal Gifting Trust, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 9840000 | 9840000 |
| Santa Monica Ocean Park Partners LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 8320000 | 8320000 |
| Scheel Investments LLC, VRDN, 3.80%, 4/7/26 (LOC: FHLB) | 16395000 | 16395000 |
| Sheryl P Werner Irrevocable Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 3830000 | 3830000 |
| Shil Park Irrevocable Life Insurance Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 1000000 | 1000000 |
| SIOF 4252 Whittier Blvd LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 12800000 | 12800000 |
| SRMHayward LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 18800000 | 18800000 |
| Sundowner Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 1590000 | 1590000 |
| Supreme Satori Issuing Trust, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 3210000 | 3210000 |
| Synergy Colgan Creek LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 25970000 | 25970000 |
| Trinity Mills Multifamily I Owner LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 19985000 | 19985000 |
| TSManion LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 8105000 | 8105000 |
| Valencia Grove II LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 800000 | 800000 |
| Varenna Care Center LP, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 11395000 | 11395000 |
| West Valley MC LLC, VRDN, 3.75%, 4/7/26 (LOC: FHLB) | 15000000 | 15000000 |
| **TOTAL CORPORATE BONDS** |  | **520830000** |

---

------

Schedule of Investments - U.S. Government Money Market Fund

---

| | | |
|:---|:---|:---|
|<br>**U.S. GOVERNMENT AGENCY SECURITIES — 20.1%** | **Principal Amount** | **Value** |
| **Adjustable-Rate U.S. Government Agency Securities — 7.6%** | | |
| Federal Farm Credit Banks Funding Corp., VRN, 3.77%, (EFFR plus 0.13%), 1/7/28 | $10000000 | $10000000 |
| FHLB, VRN, 3.63%, 4/16/26 | 1950000 | 1949961 |
| FHLB, VRN, 2.50%, 10/28/26 | 10000000 | 9957529 |
| FHLB, VRN, 3.73%, (SOFR plus 0.10%), 4/8/27 | 25000000 | 25000000 |
| FHLB, VRN, 3.79%, (SOFR plus 0.16%), 9/15/27 | 12500000 | 12500822 |
| FHLB, VRN, 3.76%, (SOFR plus 0.13%), 12/15/27 | 25000000 | 25000000 |
|  |  | 84408312 |
| **Fixed-Rate U.S. Government Agency Securities — 11.8%** |  |  |
| FHLB, 3.00%, 4/29/26 | 2000000 | 1998795 |
| FHLB, 1.25%, 5/18/26 | 2500000 | 2491665 |
| FHLB, 0.875%, 8/25/26 | 10000000 | 9886250 |
| FHLB, 3.73%, 12/9/26 | 15000000 | 15000000 |
| FHLB, 3.75%, 12/15/26 | 5000000 | 5000000 |
| FHLB, 3.64%, 2/5/27 | 45000000 | 44999199 |
| FHLB, 0.90%, 2/25/27 | 1000000 | 975072 |
| FHLB, 3.375%, 4/9/27 | 6500000 | 6482418 |
| FHLMC, 3.625%, 12/18/26 | 10000000 | 9990395 |
| FHLMC, 3.68%, 2/19/27 | 9000000 | 9000000 |
| FHLMC, 3.71%, 3/29/27 | 19500000 | 19500000 |
| FNMA, 4.05%, 4/23/27 | 5000000 | 5000000 |
|  |  | 130323794 |
| **Zero-Coupon U.S. Government Agency Securities — 0.7%** |  |  |
| Federal Home Loan Bank Discount Notes, 0.00%, 4/14/26<sup>(1)</sup> | 8000000 | 7989629 |
| **TOTAL U.S. GOVERNMENT AGENCY SECURITIES** |  | **222721735** |
| **U.S. TREASURY SECURITIES**<sup>(2)</sup> **— 19.5%** |  |  |
| U.S. Treasury Bills, 3.68%, 4/7/26 | 19350000 | 19338310 |
| U.S. Treasury Bills, 3.68%, 4/14/26 | 15000000 | 14980283 |
| U.S. Treasury Bills, 3.62%, 4/16/26 | 15000000 | 14977250 |
| U.S. Treasury Bills, 3.67%, 4/21/26 | 40000 | 39919 |
| U.S. Treasury Bills, 3.64%, 4/23/26 | 110000 | 109755 |
| U.S. Treasury Bills, 3.62%, 5/19/26 | 60000 | 59710 |
| U.S. Treasury Bills, 3.64%, 6/9/26 | 110000 | 109243 |
| U.S. Treasury Notes, 0.75%, 4/30/26 | 20000000 | 19946031 |
| U.S. Treasury Notes, 4.875%, 4/30/26 | 10000000 | 10004927 |
| U.S. Treasury Notes, 0.75%, 8/31/26 | 5000000 | 4940901 |
| U.S. Treasury Notes, 3.75%, 8/31/26 | 10000000 | 10003426 |
| U.S. Treasury Notes, 1.625%, 9/30/26 | 20000000 | 19805951 |
| U.S. Treasury Notes, 4.625%, 10/15/26 | 10000000 | 10050618 |
| U.S. Treasury Notes, 4.25%, 11/30/26 | 7000000 | 7026924 |
| U.S. Treasury Notes, 4.25%, 3/15/27 | 5000000 | 5027449 |
| U.S. Treasury Notes, 4.50%, 4/15/27 | 15000000 | 15105352 |
| U.S. Treasury Notes, VRN, 3.80%, (3-month USBMMY plus 0.15%), 4/30/26 | 63680000 | 63683279 |
| **TOTAL U.S. TREASURY SECURITIES** |  | **215209328** |
| **REPURCHASE AGREEMENTS — 11.7%** |  |  |
| Fixed Income Clearing Corp.(collateralized by various U.S. Treasury obligations, 3.50%, 4/30/28, valued at $132,174,843) at 3.66%, dated 3/31/26, due 4/1/26 (Delivery value $129,596,174) |  | **129583000** |
| **MUNICIPAL SECURITIES — 2.4%** |  |  |
| Downtown Bainbridge Development Authority Rev., (Rivertown Development LLC), VRDN, 4.01%, 4/7/26 (LOC: First Port City Bank)(SBBPA: FHLB)<sup>(3)</sup> | 3640000 | 3640000 |
| Evergreen-Conecuh Capital Improvement Cooperative District Rev., (Evergreen Hopitality LLC), VRDN, 4.10%, 4/7/26 (LOC: Southpoint Bank and FHLB)<sup>(3)</sup> | 8850000 | 8850000 |

---

------

Schedule of Investments - U.S. Government Money Market Fund

---

| | | |
|:---|:---|:---|
| | **Principal Amount** | **Value** |
| Public Finance Authority Rev., (Roers Plymouth Apartments LLC), VRDN, 3.75%, 4/7/26 (LOC: Western Alliance Bank and FHLB) | $5755000 | $5755000 |
| Washington State Housing Finance Commission Rev., (Ballard Landmark Inn LLC), VRDN, Series B, 3.75%, 4/7/26 (LOC: East West Bank and FHLB) | 5260000 | 5260000 |
| Washington State Housing Finance Commission Rev., (Lodge at Eagle Ridge LLC), VRDN, Series B, 3.75%, 4/7/26 (LOC: East West Bank and FHLB) | 3425000 | 3425000 |
| **TOTAL MUNICIPAL SECURITIES** |  | **26930000** |
| **TOTAL INVESTMENT SECURITIES — 100.8%** |  | **1115274063** |
| **OTHER ASSETS AND LIABILITIES — (0.8)%** |  | **(8820219)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1106453844** |

---

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| EFFR | – | Effective Federal Funds Rate |
| 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 |
| 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 $12,490,000, which represented 1.1% 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

---

| | | |
|:---|:---|:---|
| **MARCH 31, 2026** | | |
| | **Core Plus Fund** | **Diversified Bond Fund** |
| **Assets** | | |
| Investment securities, at value | $389738411 | $3944028721 |
| Repurchase agreements, at value |  | 64707000 |
| Cash | 186336 | 9145823 |
| Foreign currency holdings, at value | 7 |  |
| Receivable for investments sold | 3895460 | 10893302 |
| Receivable for capital shares sold | 18131 | 574635 |
| Receivable for variation margin on futures contracts | 98790 | 872081 |
| Receivable for variation margin on swap agreements | 100150 | 169898 |
| Unrealized appreciation on forward foreign currency exchange contracts | 86000 | 972055 |
| Interest and dividends receivable | 3213852 | 27869351 |
|  | 397337137 | 4059232866 |
| **Liabilities** |  |  |
| Payable for investments purchased | 9565796 | 94030245 |
| Payable for capital shares redeemed | 1661928 | 42135857 |
| Swap agreements, at value | 91077 |  |
| Accrued management fees | 179929 | 598071 |
| Distribution and service fees payable | 3235 | 13775 |
| Dividends payable | 12941 | 104669 |
|  | 11514906 | 136882617 |
| **Net Assets** | $385822231 | $3922350249 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $480912332 | $4990764712 |
| Distributable earnings (loss) | (95090101) | (1068414463) |
|  | $385822231 | $3922350249 |
| Investment securities, at cost | $393478783 | $3989305456 |
| Repurchase agreements, at cost |  | $64707000 |
| Foreign currency holdings, at cost | $8 |  |

---

------

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 | $359021770 | 39147069 | $9.17 |
| I Class | $12714092 | 1386156 | $9.17 |
| A Class | $10670549 | 1163256 | $9.17 |
| &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) |  | $9.60 |
| C Class | $458303 | 49966 | $9.17 |
| R Class | $1246213 | 135842 | $9.17 |
| R5 Class | $1706151 | 186045 | $9.17 |
| G Class | $5153 | 562 | $9.17 |
| **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| Investor Class | $466041749 | 50869215 | $9.16 |
| I Class | $640205791 | 69850891 | $9.17 |
| Y Class | $237369476 | 25892621 | $9.17 |
| A Class | $42618265 | 4651771 | $9.16 |
| &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) |  | $9.59 |
| C Class | $3326954 | 363455 | $9.15 |
| R Class | $4216694 | 460353 | $9.16 |
| R5 Class | $5857 | 639 | $9.17 |
| R6 Class | $110833590 | 12087828 | $9.17 |
| G Class | $2417731873 | 263733179 | $9.17 |

---

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

---

| | | |
|:---|:---|:---|
| **MARCH 31, 2026** | | |
| | **High Income Fund** | **High-Yield Fund** |
| **Assets** | | |
| Investment securities, at value | $1816517374 | $85416661 |
| Investment made with cash collateral received for securities on loan, at value |  | 5989155 |
| Cash | 1473335 |  |
| Foreign currency holdings, at value |  | 11 |
| Deposits with broker for futures contracts |  | 69375 |
| Receivable for investments sold | 3735519 |  |
| Receivable for capital shares sold | 324209 | 137015 |
| Receivable for variation margin on futures contracts |  | 8672 |
| Interest and dividends receivable | 32873922 | 1383666 |
| Securities lending receivable |  | 6486 |
|  | 1854924359 | 93011041 |
| **Liabilities** |  |  |
| Payable for collateral received for securities on loan |  | 5989155 |
| Payable for investments purchased | 10000461 | 345467 |
| Payable for capital shares redeemed | 6308117 | 58590 |
| Accrued management fees | 592004 | 49528 |
| Distribution and service fees payable | 1768 | 3101 |
| Dividends payable | 752741 | 52318 |
|  | 17655091 | 6498159 |
| **Net Assets** | $1837269268 | $86512882 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $2023178422 | $136197245 |
| Distributable earnings (loss) | (185909154) | (49684363) |
|  | $1837269268 | $86512882 |
| Investment securities, at cost | $1857186368 | $86253717 |
| Investment securities on loan, at value |  | $5864662 |
| Investment made with cash collateral received for securities on loan, at cost |  | $5989155 |
| Foreign currency holdings, at cost |  | $10 |

---

------

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 | $218977329 | 25457341 | $8.60 |
| I Class | $135795318 | 15791082 | $8.60 |
| Y Class | $366774196 | 42667121 | $8.60 |
| A Class | $8304871 | 965427 | $8.60 |
| &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) |  | $9.01 |
| R5 Class | $230253 | 26777 | $8.60 |
| R6 Class | $404348313 | 47052653 | $8.59 |
| G Class | $702838988 | 81756151 | $8.60 |
| **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** | **High-Yield Fund** |
| Investor Class | $73065372 | 14334220 | $5.10 |
| I Class | $2460867 | 481284 | $5.11 |
| Y Class | $27158 | 5317 | $5.11 |
| A Class | $8429756 | 1652197 | $5.10 |
| &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) |  | $5.34 |
| C Class | $800662 | 156970 | $5.10 |
| R Class | $1484547 | 291008 | $5.10 |
| R5 Class | $60615 | 11880 | $5.10 |
| R6 Class | $183905 | 36112 | $5.09 |

---

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

---

| | | |
|:---|:---|:---|
| **MARCH 31, 2026** | | |
| | **Multisector Income Fund** | **Prime Money Market Fund** |
| **Assets** | | |
| Investment securities, at value | $102706719 | $2605133143 |
| Investment made with cash collateral received for securities on loan, at value | 1228363 |  |
| Repurchase agreements, at value | 703000 |  |
| Foreign currency holdings, at value | 16 |  |
| Receivable for investments sold | 510354 | 355000 |
| Receivable for capital shares sold | 16847 | 4638933 |
| Receivable for variation margin on futures contracts | 58142 |  |
| Receivable for variation margin on swap agreements | 37556 |  |
| Unrealized appreciation on forward foreign currency exchange contracts | 3311 |  |
| Interest and dividends receivable | 1031540 | 11581911 |
| Securities lending receivable | 462 |  |
|  | 106296310 | 2621708987 |
| **Liabilities** |  |  |
| Disbursements in excess of demand deposit cash | 12895 | 16535016 |
| Payable for collateral received for securities on loan | 1228363 |  |
| Payable for investments purchased | 793805 | 14998500 |
| Payable for capital shares redeemed | 459915 | 5288186 |
| Swap agreements, at value | 42503 |  |
| Accrued management fees | 44581 | 1238633 |
| Distribution and service fees payable | 2665 | 7317 |
| Dividends payable | 25492 | 55953 |
|  | 2610219 | 38123605 |
| **Net Assets** | $103686091 | $2583585382 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $113240717 | $2583658091 |
| Distributable earnings (loss) | (9554626) | (72709) |
|  | $103686091 | $2583585382 |
| Investment securities, at cost | $103586748 | $2605133143 |
| Investment securities on loan, at value | $1384838 |  |
| Investment made with cash collateral received for securities on loan, at cost | $1228363 |  |
| Repurchase agreements, at cost | $703000 |  |
| Foreign currency holdings, at cost | $16 |  |

---

------

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 | $52228293 | 5862320 | $8.91 |
| I Class | $14417665 | 1618408 | $8.91 |
| Y Class | $6896 | 774 | $8.91 |
| A Class | $9666496 | 1085089 | $8.91 |
| &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) |  | $9.33 |
| C Class | $345094 | 38757 | $8.90 |
| R Class | $701868 | 78776 | $8.91 |
| R5 Class | $1307802 | 146806 | $8.91 |
| R6 Class | $25011977 | 2807834 | $8.91 |
| **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** |
| Investor Class | $2550920598 | 2551139866 | $1.00 |
| A Class | $31863973 | 31853342 | $1.00 |
| C Class | $800811 | 800136 | $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

---

| | | |
|:---|:---|:---|
| **MARCH 31, 2026** | | |
| | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Assets** | | |
| Investment securities, at value | $996409043 | $1173227932 |
| Cash | 1848160 | 56006 |
| Foreign currency holdings, at value |  | 9 |
| Receivable for investments sold | 2365836 | 1159149 |
| Receivable for capital shares sold | 286516 | 304829 |
| Receivable for variation margin on futures contracts | 47170 | 116922 |
| Unrealized appreciation on forward foreign currency exchange contracts |  | 512307 |
| Interest and dividends receivable | 7254286 | 5469886 |
|  | 1008211011 | 1180847040 |
| **Liabilities** |  |  |
| Payable for capital shares redeemed | 3513084 | 2568193 |
| Payable for variation margin on swap agreements |  | 194377 |
| Unrealized depreciation on forward foreign currency exchange contracts |  | 87781 |
| Accrued management fees | 224357 | 278550 |
| Distribution and service fees payable | 5468 | 13360 |
| Dividends payable | 42448 |  |
|  | 3785357 | 3142261 |
| **Net Assets** | $1004425654 | $1177704779 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $1106898789 | $1224967449 |
| Distributable earnings (loss) | (102473135) | (47262670) |
|  | $1004425654 | $1177704779 |
| Investment securities, at cost | $1003170921 | $1165684017 |
| Foreign currency holdings, at cost |  | $8 |

---

------

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 | $278891841 | 28462458 | $9.80 |
| I Class | $146681628 | 14972876 | $9.80 |
| A Class | $14739439 | 1504898 | $9.79 |
| &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) |  | $10.02 |
| C Class | $2358844 | 240653 | $9.80 |
| R Class | $626456 | 63902 | $9.80 |
| R5 Class | $10360249 | 1057542 | $9.80 |
| R6 Class | $79557232 | 8128023 | $9.79 |
| G Class | $471209965 | 48130812 | $9.79 |
| **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 | $205453229 | 19631323 | $10.47 |
| I Class | $227682159 | 21548146 | $10.57 |
| Y Class | $26088592 | 2466686 | $10.58 |
| A Class | $27583983 | 2668893 | $10.34 |
| &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) |  | $10.58 |
| C Class | $1716004 | 173990 | $9.86 |
| R Class | $13974776 | 1322019 | $10.57 |
| R5 Class | $104939451 | 9931567 | $10.57 |
| R6 Class | $66525929 | 6297082 | $10.56 |
| G Class | $503740656 | 47585804 | $10.59 |

---

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

---

| | | |
|:---|:---|:---|
| **MARCH 31, 2026** | | |
| | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** |
| **Assets** | | |
| Investment securities, at value | $872881863 | $985691063 |
| Repurchase agreements, at value | 7874000 | 129583000 |
| Cash |  | 46906 |
| Foreign currency holdings, at value | 132 |  |
| Receivable for investments sold | 9694111 | 125000 |
| Receivable for capital shares sold | 3002149 | 1258002 |
| Unrealized appreciation on forward foreign currency exchange contracts | 30630 |  |
| Interest and dividends receivable | 7023782 | 4351975 |
|  | 900506667 | 1121055946 |
| **Liabilities** |  |  |
| Disbursements in excess of demand deposit cash | 66626 |  |
| Payable for investments purchased | 14259299 | 13185000 |
| Payable for capital shares redeemed | 2201348 | 1080241 |
| Payable for variation margin on futures contracts | 83541 |  |
| Unrealized depreciation on forward foreign currency exchange contracts | 3692 |  |
| Accrued management fees | 315254 | 316189 |
| Distribution and service fees payable | 7605 | 13990 |
| Dividends payable | 10449 | 6682 |
|  | 16947814 | 14602102 |
| **Net Assets** | $883558853 | $1106453844 |
| **Net Assets Consist of:** |  |  |
| Capital paid in | $947236441 | $1106583216 |
| Distributable earnings (loss) | (63677588) | (129372) |
|  | $883558853 | $1106453844 |
| Investment securities, at cost | $879067089 | $985691063 |
| Repurchase agreements, at cost | $7874000 | $129583000 |
| Foreign currency holdings, at cost | $133 |  |

---

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **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 | $171015448 | 19051939 | $8.98 |
| I Class | $665555035 | 74181085 | $8.97 |
| Y Class | $1020732 | 113731 | $8.97 |
| A Class | $21783556 | 2427414 | $8.97 |
| &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) |  | $9.18 |
| C Class | $3235595 | 360532 | $8.97 |
| R Class | $626645 | 69775 | $8.98 |
| R5 Class | $224654 | 25031 | $8.98 |
| R6 Class | $20097188 | 2237946 | $8.98 |
| **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 | $774833867 | 775078334 | $1.00 |
| A Class | $66326758 | 66340837 | $1.00 |
| C Class | $235673 | 235750 | $1.00 |
| G Class | $265057546 | 265058455 | $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

---

| | | |
|:---|:---|:---|
| **YEAR ENDED MARCH 31, 2026** | **YEAR ENDED MARCH 31, 2026** | |
| | **Core Plus Fund** | **Diversified Bond Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $21808017 | $241424275 |
| Dividends | 59088 | 545970 |
|  | 21867105 | 241970245 |
| **Expenses:** |  |  |
| Management fees | 2243885 | 18555587 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 28347 | 108595 |
| &nbsp;&nbsp;&nbsp;C Class | 4807 | 37100 |
| &nbsp;&nbsp;&nbsp;R Class | 5769 | 20870 |
| Trustees' fees and expenses | 26761 | 318044 |
| Other expenses | 13497 | 140274 |
|  | 2323066 | 19180470 |
| Fees waived | (18) | (11376962) |
|  | 2323048 | 7803508 |
| **Net investment income (loss)** | 19544057 | 234166737 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 1540676 | 2927302 |
| Forward foreign currency exchange contract transactions | 144616 | 1248318 |
| Futures contract transactions | (348840) | (2678273) |
| Swap agreement transactions | (230144) | (2410275) |
| Foreign currency translation transactions | (27143) | (223943) |
|  | 1079165 | (1136871) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | (128155) | 29548302 |
| Forward foreign currency exchange contracts | 92297 | 972055 |
| Futures contracts | (865958) | (10004479) |
| Swap agreements | (110508) | (32619) |
| Translation of assets and liabilities in foreign currencies | (6454) | (23328) |
|  | (1018778) | 20459931 |
| **Net realized and unrealized gain (loss)** | 60387 | 19323060 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $19604444 | $253489797 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **YEAR ENDED MARCH 31, 2026** | **YEAR ENDED MARCH 31, 2026** | |
| | **High Income Fund** | **High-Yield Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $141049170 | $5713543 |
| Dividends | 169654 | 123684 |
| Securities lending, net |  | 66495 |
|  | 141218824 | 5903722 |
| **Expenses:** |  |  |
| Management fees | 11004018 | 594170 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 20215 | 20776 |
| &nbsp;&nbsp;&nbsp;C Class |  | 6884 |
| &nbsp;&nbsp;&nbsp;R Class |  | 7348 |
| Trustees' fees and expenses | 121722 | 5452 |
| Other expenses |  | 206 |
|  | 11145955 | 634836 |
| Fees waived | (4518625) |  |
|  | 6627330 | 634836 |
| **Net investment income (loss)** | 134591494 | 5268886 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | (15603914) | (671572) |
| Futures contract transactions |  | 65028 |
| Foreign currency translation transactions | 867 |  |
|  | (15603047) | (606544) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 22378295 | 1213698 |
| Futures contracts |  | (80642) |
|  | 22378295 | 1133056 |
| **Net realized and unrealized gain (loss)** | 6775248 | 526512 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $141366742 | $5795398 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **YEAR ENDED MARCH 31, 2026** | **YEAR ENDED MARCH 31, 2026** | |
| | **Multisector Income Fund** | **Prime Money Market Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $6286074 | $106637824 |
| Dividends | 96718 |  |
| Securities lending, net | 11714 |  |
| Less foreign taxes withheld | (309) |  |
|  | 6394197 | 106637824 |
| **Expenses:** |  |  |
| Management fees | 517908 | 14098952 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 20989 | 76871 |
| &nbsp;&nbsp;&nbsp;C Class | 4246 | 8204 |
| &nbsp;&nbsp;&nbsp;R Class | 3890 |  |
| Trustees' fees and expenses | 6857 | 157193 |
| Other expenses | 2932 |  |
|  | 556822 | 14341220 |
| **Net investment income (loss)** | 5837375 | 92296604 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 690168 | (5073) |
| Forward foreign currency exchange contract transactions | (5536) |  |
| Futures contract transactions | 827610 |  |
| Swap agreement transactions | (22451) |  |
| Foreign currency translation transactions | 31 |  |
|  | 1489822 | (5073) |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | (968546) |  |
| Forward foreign currency exchange contracts | 3335 |  |
| Futures contracts | (583459) |  |
| Swap agreements | (93759) |  |
|  | (1642429) |  |
| **Net realized and unrealized gain (loss)** | (152607) | (5073) |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $5684768 | $92291531 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **YEAR ENDED MARCH 31, 2026** | **YEAR ENDED MARCH 31, 2026** | |
| | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $54266940 | $53649995 |
| Dividends | 289534 | 2034026 |
|  | 54556474 | 55684021 |
| **Expenses:** |  |  |
| Management fees | 4398981 | 5933421 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 38722 | 70103 |
| &nbsp;&nbsp;&nbsp;C Class | 23465 | 20771 |
| &nbsp;&nbsp;&nbsp;R Class | 3428 | 74800 |
| Trustees' fees and expenses | 70172 | 94826 |
| Other expenses | 3715 | 211322 |
|  | 4538483 | 6405243 |
| Fees waived | (1723707) | (1830833) |
|  | 2814776 | 4574410 |
| **Net investment income (loss)** | 51741698 | 51109611 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 8850156 | (497700) |
| Forward foreign currency exchange contract transactions |  | 168786 |
| Futures contract transactions | 582651 | 1769875 |
| Swap agreement transactions | (286383) | 5913228 |
| Foreign currency translation transactions |  | 160695 |
|  | 9146424 | 7514884 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | (8554883) | 3236490 |
| Forward foreign currency exchange contracts |  | 424526 |
| Futures contracts | (264336) | (1187923) |
| Swap agreements |  | (6635038) |
| Translation of assets and liabilities in foreign currencies |  | (3732) |
|  | (8819219) | (4165677) |
| **Net realized and unrealized gain (loss)** | 327205 | 3349207 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $52068903 | $54458818 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **YEAR ENDED MARCH 31, 2026** | **YEAR ENDED MARCH 31, 2026** | |
| | **Short Duration Strategic Income Fund** | **U.S. Government Money Market Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Interest | $41613219 | $39264719 |
| Dividends | 47417 |  |
|  | 41660636 | 39264719 |
| **Expenses:** |  |  |
| Management fees | 3367804 | 4261862 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 47836 | 170850 |
| &nbsp;&nbsp;&nbsp;C Class | 31063 | 1772 |
| &nbsp;&nbsp;&nbsp;R Class | 3663 |  |
| Trustees' fees and expenses | 49002 | 56506 |
| Other expenses | 4300 |  |
|  | 3503668 | 4490990 |
| Fees waived |  | (396844) |
|  | 3503668 | 4094146 |
| **Net investment income (loss)** | 38156968 | 35170573 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 4881882 | 7271 |
| Forward foreign currency exchange contract transactions | (22435) |  |
| Futures contract transactions | 438030 |  |
| Swap agreement transactions | (588747) |  |
| Foreign currency translation transactions | (670) |  |
|  | 4708060 | 7271 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | (7080231) |  |
| Forward foreign currency exchange contracts | 27164 |  |
| Futures contracts | 274617 |  |
| Translation of assets and liabilities in foreign currencies | (227) |  |
|  | (6778677) |  |
| **Net realized and unrealized gain (loss)** | (2070617) | 7271 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $36086351 | $35177844 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | | |
| | **Core Plus Fund** | **Core Plus Fund** | **Diversified Bond Fund** | **Diversified Bond Fund** |
| **Increase (Decrease) in Net Assets** | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $19544057 | $19558103 | $234166737 | $287713674 |
| Net realized gain (loss) | 1079165 | (5002265) | (1136871) | (81288421) |
| Change in net unrealized appreciation (depreciation) | (1018778) | 5392824 | 20459931 | 90394969 |
| Net increase (decrease) in net assets resulting from operations | 19604444 | 19948662 | 253489797 | 296820222 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (18462069) | (18525717) | (23678847) | (25141368) |
| &nbsp;&nbsp;&nbsp;I Class | (612721) | (608084) | (29573835) | (32828055) |
| &nbsp;&nbsp;&nbsp;Y Class |  |  | (10605585) | (9611097) |
| &nbsp;&nbsp;&nbsp;A Class | (506258) | (554179) | (1804846) | (2446221) |
| &nbsp;&nbsp;&nbsp;C Class | (17849) | (19515) | (126474) | (216053) |
| &nbsp;&nbsp;&nbsp;R Class | (48482) | (39152) | (162951) | (161301) |
| &nbsp;&nbsp;&nbsp;R5 Class | (113270) | (137273) | (265) | (253) |
| &nbsp;&nbsp;&nbsp;R6 Class |  |  | (5384617) | (5987893) |
| &nbsp;&nbsp;&nbsp;G Class | (266) | (259) | (167779886) | (215288134) |
| Decrease in net assets from distributions | (19760915) | (19884179) | (239117306) | (291680375) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (47580913) | 37828774 | (1485888950) | (798142840) |
| **Net increase (decrease) in net assets** | (47737384) | 37893257 | (1471516459) | (793002993) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 433559615 | 395666358 | 5393866708 | 6186869701 |
| End of period | $385822231 | $433559615 | $3922350249 | $5393866708 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | | |
| | **High Income Fund** | **High Income Fund** | **High-Yield Fund** | **High-Yield Fund** |
| **Increase (Decrease) in Net Assets** | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $134591494 | $152218002 | $5268886 | $5190176 |
| Net realized gain (loss) | (15603047) | (22771118) | (606544) | 353396 |
| Change in net unrealized appreciation (depreciation) | 22378295 | 27286660 | 1133056 | 182248 |
| Net increase (decrease) in net assets resulting from operations | 141366742 | 156733544 | 5795398 | 5725820 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (13143497) | (9594398) | (4474556) | (4193007) |
| &nbsp;&nbsp;&nbsp;I Class | (9775406) | (30999035) | (161377) | (424733) |
| &nbsp;&nbsp;&nbsp;Y Class | (22565838) | (20978193) | (1724) | (1849) |
| &nbsp;&nbsp;&nbsp;A Class | (510160) | (410072) | (489269) | (439269) |
| &nbsp;&nbsp;&nbsp;C Class |  |  | (35321) | (29960) |
| &nbsp;&nbsp;&nbsp;R Class |  |  | (82696) | (75111) |
| &nbsp;&nbsp;&nbsp;R5 Class | (15079) | (12539) | (3726) | (3851) |
| &nbsp;&nbsp;&nbsp;R6 Class | (25432057) | (16383603) | (12860) | (20196) |
| &nbsp;&nbsp;&nbsp;G Class | (63171670) | (73877258) |  |  |
| Decrease in net assets from distributions | (134613707) | (152255098) | (5261529) | (5187976) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (80930090) | (271240752) | (391432) | (8391146) |
| **Net increase (decrease) in net assets** | (74177055) | (266762306) | 142437 | (7853302) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1911446323 | 2178208629 | 86370445 | 94223747 |
| End of period | $1837269268 | $1911446323 | $86512882 | $86370445 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | | |
| | **Multisector Income Fund** | **Multisector Income Fund** | **Prime Money Market Fund** | **Prime Money Market Fund** |
| **Increase (Decrease) in Net Assets** | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $5837375 | $5967384 | $92296604 | $102065439 |
| Net realized gain (loss) | 1489822 | 1097403 | (5073) | 7985 |
| Change in net unrealized appreciation (depreciation) | (1642429) | (301265) |  |  |
| Net increase (decrease) in net assets resulting from operations | 5684768 | 6763522 | 92291531 | 102073424 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (2819834) | (2740727) | (91211727) | (100790163) |
| &nbsp;&nbsp;&nbsp;I Class | (1287818) | (2036779) |  |  |
| &nbsp;&nbsp;&nbsp;Y Class | (376) | (383) |  |  |
| &nbsp;&nbsp;&nbsp;A Class | (428744) | (357008) | (1064057) | (1220444) |
| &nbsp;&nbsp;&nbsp;C Class | (18654) | (24605) | (32876) | (44072) |
| &nbsp;&nbsp;&nbsp;R Class | (38132) | (47960) |  |  |
| &nbsp;&nbsp;&nbsp;R5 Class | (51135) | (49012) |  |  |
| &nbsp;&nbsp;&nbsp;R6 Class | (1258000) | (962481) |  |  |
| Decrease in net assets from distributions | (5902693) | (6218955) | (92308660) | (102054679) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (728065) | (3657350) | 155678956 | 294635786 |
| **Net increase (decrease) in net assets** | (945990) | (3112783) | 155661827 | 294654531 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 104632081 | 107744864 | 2427923555 | 2133269024 |
| End of period | $103686091 | $104632081 | $2583585382 | $2427923555 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND 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** | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $51741698 | $62829181 | $51109611 | $56840682 |
| Net realized gain (loss) | 9146424 | 4430537 | 7514884 | (5915020) |
| Change in net unrealized appreciation (depreciation) | (8819219) | 6757929 | (4165677) | 64965936 |
| Net increase (decrease) in net assets resulting from operations | 52068903 | 74017647 | 54458818 | 115891598 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (12850234) | (15714917) | (8882729) | (5514783) |
| &nbsp;&nbsp;&nbsp;I Class | (6834803) | (7050886) | (17034860) | (10258413) |
| &nbsp;&nbsp;&nbsp;Y Class |  |  | (939506) | (391979) |
| &nbsp;&nbsp;&nbsp;A Class | (652288) | (838930) | (1059105) | (940885) |
| &nbsp;&nbsp;&nbsp;C Class | (81071) | (80960) | (60808) | (46449) |
| &nbsp;&nbsp;&nbsp;R Class | (27072) | (27168) | (513399) | (314014) |
| &nbsp;&nbsp;&nbsp;R5 Class | (497245) | (530193) | (4257726) | (2555797) |
| &nbsp;&nbsp;&nbsp;R6 Class | (3512283) | (3591635) | (2806752) | (1093835) |
| &nbsp;&nbsp;&nbsp;G Class | (28026370) | (35436155) | (25718935) | (19598750) |
| Decrease in net assets from distributions | (52481366) | (63270844) | (61273820) | (40714905) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (136920897) | (227678996) | (323887226) | (404053996) |
| **Net increase (decrease) in net assets** | (137333360) | (216932193) | (330702228) | (328877303) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1141759014 | 1358691207 | 1508407007 | 1837284310 |
| End of period | $1004425654 | $1141759014 | $1177704779 | $1508407007 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND MARCH 31, 2025** | **YEARS ENDED MARCH 31, 2026 AND 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** | **March 31, 2026** | **March 31, 2025** | **March 31, 2026** | **March 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $38156968 | $32944988 | $35170573 | $36803905 |
| Net realized gain (loss) | 4708060 | 1128725 | 7271 | 74399 |
| Change in net unrealized appreciation (depreciation) | (6778677) | 5327301 |  |  |
| Net increase (decrease) in net assets resulting from operations | 36086351 | 39401014 | 35177844 | 36878304 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (7414025) | (7763645) | (29412903) | (33911724) |
| &nbsp;&nbsp;&nbsp;I Class | (28872660) | (23577004) |  |  |
| &nbsp;&nbsp;&nbsp;Y Class | (50032) | (31547) |  |  |
| &nbsp;&nbsp;&nbsp;A Class | (870876) | (888987) | (2371492) | (2881474) |
| &nbsp;&nbsp;&nbsp;C Class | (118081) | (101480) | (6997) | (10707) |
| &nbsp;&nbsp;&nbsp;R Class | (31512) | (43487) |  |  |
| &nbsp;&nbsp;&nbsp;R5 Class | (10692) | (10595) |  |  |
| &nbsp;&nbsp;&nbsp;R6 Class | (862345) | (733985) |  |  |
| &nbsp;&nbsp;&nbsp;G Class |  |  | (3379181) |  |
| Decrease in net assets from distributions | (38230223) | (33150730) | (35170573) | (36803905) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 183910146 | 84653161 | 385967205 | 74635634 |
| **Net increase (decrease) in net assets** | 181766274 | 90903445 | 385974476 | 74710033 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 701792579 | 610889134 | 720479368 | 645769335 |
| End of period | $883558853 | $701792579 | $1106453844 | $720479368 |

---

See Notes to Financial Statements.

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Notes to Financial Statements

**MARCH 31, 2026**

**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.

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| | |
|:---|:---|
| 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, G\* |

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\*Sale of the G Class commenced on November 12, 2025.

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.

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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.

Securities held in Prime Money Market Fund and U.S. Government Money Market Fund are generally valued at amortized cost, which approximates fair value.

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 |

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\*Distributions from net investment income may be declared and 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.

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**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 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 | 0.000%<sup>(1)</sup> | $4518625 |

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(1)Annual management fee before waiver was 0.525%.

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| | |
|:---|:---|
| **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% |

---

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| | |
|:---|:---|
| **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% |

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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.

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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 March 31, 2026 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 <br>0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| I Class | 0.2425% to <br>0.3600% | 0.1500% to 0.2100% | 0.44% |  |
| A Class | 0.2425% to <br>0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| C Class | 0.2425% to <br>0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| R Class | 0.2425% to <br>0.3600% | 0.2500% to 0.3100% | 0.54% |  |
| R5 Class | 0.2425% to <br>0.3600% | 0.0500% to 0.1100% | 0.34% |  |
| G Class | 0.2425% to <br>0.3600% | 0.0500% to 0.1100% | 0.00%<sup>(1)</sup> | $18 |

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(1)Effective annual management fee before waiver was 0.34%.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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> | $11376962 |

---

(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% | 0.69% |
| I Class | 0.4725% to <br>0.5900% | 0.1500% to 0.2100% | 0.57% | 0.59% |
| Y Class | 0.4725% to <br>0.5900% | 0.0500% to 0.1100% | 0.47% | 0.49% |
| A Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.69% |
| C Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.69% |
| R Class | 0.4725% to <br>0.5900% | 0.2500% to 0.3100% | 0.67% | 0.69% |
| R5 Class | 0.4725% to <br>0.5900% | 0.0500% to 0.1100% | 0.47% | 0.49% |
| R6 Class | 0.4725% to <br>0.5900% | 0.0000% to 0.0600% | 0.42% | 0.44% |

---

\*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.

---

| | | | |
|:---|:---|:---|:---|
| **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> | $1723707 |

---

(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> | $1830833 |

---

(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** | **Management Fee Waived** |
| Investor Class | 0.1170% to <br>0.2300% | 0.2500% to 0.3100% | 0.45% |  |
| A Class | 0.1170% to <br>0.2300% | 0.2500% to 0.3100% | 0.45% |  |
| C Class | 0.1170% to <br>0.2300% | 0.2500% to 0.3100% | 0.45% |  |
| G Class | 0.1170% to <br>0.2300% | 0.2500% to 0.3100% | 0.00%<sup>(1)</sup> | $396844 |

---

(1)Effective annual management fee before waiver was 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 March 31, 2026 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. | 80% |
| Diversified Bond Fund | American Century Asset Allocation Portfolios, Inc. | 44% |
| High Income Fund | American Century Asset Allocation Portfolios, Inc. | 25% |
| Short Duration Fund | American Century Asset Allocation Portfolios, Inc. | 50% |
| Short Duration Inflation Protection Bond Fund | American Century Asset Allocation Portfolios, Inc. | 36% |
| U.S. Government Money Market Fund | American Century Investment Management, Inc. (ACIM) | 8% |
|  | American Century Investment Services, Inc. (ACIS) | 16% |
|  | American Century Asset Allocation Portfolios, Inc. | 20% |

---

**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 March 31, 2026 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Core Plus Fund** | **Diversified Bond Fund** | **High Income Fund** | **High-Yield Fund** |
| Purchases of U.S. Treasury and Government Agency obligations | $401017877 | $5281052203 |  |  |
| Purchases of other investment securities | $336569045 | $2818548752 | $785426252 | $95177085 |
| Total Purchases | $737586922 | $8099600955 | $785426252 | $95177085 |
| Sales of U.S. Treasury and Government Agency obligations | $456984479 | $6362070986 |  |  |
| Sales of other investment securities | $326309271 | $3475191365 | $869520084 | $96649890 |
| Total Sales | $783293750 | $9837262351 | $869520084 | $96649890 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Multisector Income Fund** | **Short Duration Fund** | **Short Duration Inflation Protection Bond Fund** | **Short Duration Strategic Income Fund** |
| Purchases of U.S. Treasury and Government Agency obligations | $31358044 | $1163742254 | $564509275 | $361827480 |
| Purchases of other investment securities | $138387272 | $898335557 | $283033176 | $1026284475 |
| Total Purchases | $169745316 | $2062077811 | $847542451 | $1388111955 |
| Sales of U.S. Treasury and Government Agency obligations | $43383641 | $1123308604 | $975873190 | $395039214 |
| Sales of other investment securities | $126522646 | $1161359739 | $297603912 | $808585562 |
| Total Sales | $169906287 | $2284668343 | $1273477102 | $1203624776 |

---

------

**5. Capital Share Transactions** 

Transactions in shares of the funds were as follows (unlimited number of shares authorized):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Core Plus Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 1268688 | $11742975 | 5068107 | $46939731 |
| Issued in reinvestment of distributions | 1981133 | 18313980 | 2002234 | 18382288 |
| Redeemed | (7924272) | (73381052) | (2946718) | (27026785) |
|  | (4674451) | (43324097) | 4123623 | 38295234 |
| **I Class** |  |  |  |  |
| Sold | 307432 | 2869308 | 696391 | 6403666 |
| Issued in reinvestment of distributions | 66344 | 612721 | 66238 | 607332 |
| Redeemed | (619880) | (5705434) | (795605) | (7269229) |
|  | (246104) | (2223405) | (32976) | (258231) |
| **A Class** |  |  |  |  |
| Sold | 193472 | 1789988 | 144060 | 1327176 |
| Issued in reinvestment of distributions | 53280 | 492448 | 58865 | 540411 |
| Redeemed | (350579) | (3236026) | (294996) | (2715422) |
|  | (103827) | (953590) | (92071) | (847835) |
| **C Class** |  |  |  |  |
| Sold | 10922 | 100651 | 20059 | 186690 |
| Issued in reinvestment of distributions | 1931 | 17849 | 2122 | 19494 |
| Redeemed | (13503) | (124754) | (18220) | (168448) |
|  | (650) | (6254) | 3961 | 37736 |
| **R Class** |  |  |  |  |
| Sold | 95473 | 881447 | 33946 | 311035 |
| Issued in reinvestment of distributions | 5153 | 47669 | 4225 | 38811 |
| Redeemed | (67334) | (624814) | (25263) | (232879) |
|  | 33292 | 304302 | 12908 | 116967 |
| **R5 Class** |  |  |  |  |
| Sold | 94710 | 867720 | 110942 | 1014764 |
| Issued in reinvestment of distributions | 12261 | 113048 | 14953 | 137265 |
| Redeemed | (256743) | (2358903) | (72802) | (667385) |
|  | (149772) | (1378135) | 53093 | 484644 |
| **G Class** |  |  |  |  |
| Issued in reinvestment of distributions | 29 | 266 | 28 | 259 |
| Net increase (decrease) | (5141483) | $(47580913) | 4068566 | $37828774 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Diversified Bond Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 5285142 | $48807517 | 6300099 | $57945651 |
| Issued in reinvestment of distributions | 2515449 | 23209150 | 2712095 | 24837004 |
| Redeemed | (16711528) | (153379706) | (12158694) | (111387732) |
|  | (8910937) | (81363039) | (3146500) | (28605077) |
| **I Class** |  |  |  |  |
| Sold | 22807213 | 209712280 | 27448003 | 252155518 |
| Issued in reinvestment of distributions | 3093897 | 28560826 | 3469568 | 31797360 |
| Redeemed | (29748927) | (274117060) | (34740962) | (317915538) |
|  | (3847817) | (35843954) | (3823391) | (33962660) |
| **Y Class** |  |  |  |  |
| Sold | 5471313 | 50323869 | 9019579 | 82496000 |
| Issued in reinvestment of distributions | 1148196 | 10604180 | 1048304 | 9611007 |
| Redeemed | (4310415) | (39717323) | (4978168) | (45681572) |
|  | 2309094 | 21210726 | 5089715 | 46425435 |
| **A Class** |  |  |  |  |
| Sold | 559335 | 5149173 | 928499 | 8573333 |
| Issued in reinvestment of distributions | 181392 | 1673591 | 245372 | 2248674 |
| Redeemed | (1105672) | (10139258) | (3586793) | (33176949) |
|  | (364945) | (3316494) | (2412922) | (22354942) |
| **C Class** |  |  |  |  |
| Sold | 59830 | 553977 | 96140 | 885774 |
| Issued in reinvestment of distributions | 13626 | 125587 | 23167 | 211964 |
| Redeemed | (186503) | (1714526) | (500889) | (4654713) |
|  | (113047) | (1034962) | (381582) | (3556975) |
| **R Class** |  |  |  |  |
| Sold | 150519 | 1383239 | 130433 | 1189959 |
| Issued in reinvestment of distributions | 17524 | 161670 | 17373 | 159143 |
| Redeemed | (147781) | (1363702) | (162344) | (1491551) |
|  | 20262 | 181207 | (14538) | (142449) |
| **R5 Class** |  |  |  |  |
| Issued in reinvestment of distributions | 29 | 265 | 28 | 253 |
| **R6 Class** |  |  |  |  |
| Sold | 4002867 | 36861258 | 4585094 | 42030307 |
| Issued in reinvestment of distributions | 571262 | 5274813 | 645285 | 5906620 |
| Redeemed | (5552230) | (51154000) | (9072007) | (83042194) |
|  | (978101) | (9017929) | (3841628) | (35105267) |
| **G Class** |  |  |  |  |
| Sold | 40661661 | 372083795 | 49965015 | 458962655 |
| Issued in reinvestment of distributions | 18170814 | 167684781 | 23488647 | 215288134 |
| Redeemed | (206641248) | (1916473346) | (152384856) | (1395091947) |
|  | (147808773) | (1376704770) | (78931194) | (720841158) |
| Net increase (decrease) | (159694235) | $(1485888950) | (87462012) | $(798142840) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **High Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 12486971 | $109040965 | 16820376 | $145387247 |
| Issued in reinvestment of distributions | 1426922 | 12453301 | 1061940 | 9172966 |
| Redeemed | (9936272) | (86469750) | (12036577) | (104063632) |
|  | 3977621 | 35024516 | 5845739 | 50496581 |
| **I Class** |  |  |  |  |
| Sold | 6151911 | 53740321 | 17996607 | 155421055 |
| Issued in reinvestment of distributions | 1118684 | 9758176 | 3535693 | 30537879 |
| Redeemed | (10215892) | (88598713) | (57377488) | (496253070) |
|  | (2945297) | (25100216) | (35845188) | (310294136) |
| **Y Class** |  |  |  |  |
| Sold | 11240709 | 97813798 | 11128867 | 95740435 |
| Issued in reinvestment of distributions | 1778611 | 15516456 | 1607037 | 13855599 |
| Redeemed | (4577248) | (39964942) | (16284552) | (140570660) |
|  | 8442072 | 73365312 | (3548648) | (30974626) |
| **A Class** |  |  |  |  |
| Sold | 226959 | 1982499 | 202031 | 1746453 |
| Issued in reinvestment of distributions | 41408 | 361499 | 35336 | 305233 |
| Redeemed | (151890) | (1332877) | (108641) | (938019) |
|  | 116477 | 1011121 | 128726 | 1113667 |
| **R5 Class** |  |  |  |  |
| Sold | 12608 | 110067 | 5748 | 49913 |
| Issued in reinvestment of distributions | 1727 | 15079 | 1445 | 12470 |
| Redeemed | (7576) | (65738) | (10657) | (92424) |
|  | 6759 | 59408 | (3464) | (30041) |
| **R6 Class** |  |  |  |  |
| Sold | 14809834 | 128991974 | 19213217 | 166001013 |
| Issued in reinvestment of distributions | 2887259 | 25173686 | 1893139 | 16358976 |
| Redeemed | (8833530) | (77003728) | (4413411) | (38038623) |
|  | 8863563 | 77161932 | 16692945 | 144321366 |
| **G Class** |  |  |  |  |
| Sold | 8966570 | 78135022 | 10162399 | 88310355 |
| Issued in reinvestment of distributions | 7242237 | 63145336 | 8559487 | 73877258 |
| Redeemed | (43752468) | (383732521) | (33321718) | (288061176) |
|  | (27543661) | (242452163) | (14599832) | (125873563) |
| Net increase (decrease) | (9082466) | $(80930090) | (31329722) | $(271240752) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **High-Yield Fund** | | | | |
| **Investor Class** |  |  |  |  |
| Sold | 2440055 | $12587051 | 2689804 | $13669273 |
| Issued in reinvestment of distributions | 740579 | 3818211 | 699789 | 3553466 |
| Redeemed | (3326700) | (17052061) | (3590820) | (18219988) |
|  | (146066) | (646799) | (201227) | (997249) |
| **I Class** |  |  |  |  |
| Sold | 93767 | 487454 | 190736 | 968952 |
| Issued in reinvestment of distributions | 31194 | 161342 | 83485 | 424659 |
| Redeemed | (178550) | (922538) | (1623097) | (8270039) |
|  | (53589) | (273742) | (1348876) | (6876428) |
| **Y Class** |  |  |  |  |
| Issued in reinvestment of distributions | 334 | 1724 | 361 | 1836 |
| Redeemed | (463) | (2365) | (8445) | (41998) |
|  | (129) | (641) | (8084) | (40162) |
| **A Class** |  |  |  |  |
| Sold | 298766 | 1538351 | 243518 | 1233435 |
| Issued in reinvestment of distributions | 88733 | 458079 | 82504 | 419275 |
| Redeemed | (280428) | (1439021) | (439141) | (2224829) |
|  | 107071 | 557409 | (113119) | (572119) |
| **C Class** |  |  |  |  |
| Sold | 38495 | 198732 | 92730 | 468497 |
| Issued in reinvestment of distributions | 6849 | 35321 | 5883 | 29938 |
| Redeemed | (40262) | (204772) | (25862) | (131992) |
|  | 5082 | 29281 | 72751 | 366443 |
| **R Class** |  |  |  |  |
| Sold | 93853 | 483033 | 91193 | 461868 |
| Issued in reinvestment of distributions | 15802 | 81522 | 14560 | 73974 |
| Redeemed | (103186) | (532070) | (96842) | (493522) |
|  | 6469 | 32485 | 8911 | 42320 |
| **R5 Class** |  |  |  |  |
| Sold | 155 | 800 | 887 | 4500 |
| Issued in reinvestment of distributions | 722 | 3726 | 752 | 3821 |
| Redeemed | (51) | (263) | (4909) | (24806) |
|  | 826 | 4263 | (3270) | (16485) |
| **R6 Class** |  |  |  |  |
| Sold | 9255 | 47377 | 13230 | 67365 |
| Issued in reinvestment of distributions | 2501 | 12860 | 3912 | 19797 |
| Redeemed | (30012) | (153925) | (76415) | (384628) |
|  | (18256) | (93688) | (59273) | (297466) |
| Net increase (decrease) | (98592) | $(391432) | (1652187) | $(8391146) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Multisector Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 1810559 | $16281960 | 2932599 | $26301152 |
| Issued in reinvestment of distributions | 301952 | 2720880 | 299152 | 2666174 |
| Redeemed | (1997896) | (18001632) | (2692754) | (24039418) |
|  | 114615 | 1001208 | 538997 | 4927908 |
| **I Class** |  |  |  |  |
| Sold | 455481 | 4106020 | 1207734 | 10844307 |
| Issued in reinvestment of distributions | 142928 | 1287803 | 228700 | 2036131 |
| Redeemed | (1623597) | (14475629) | (3352257) | (29967373) |
|  | (1025188) | (9081806) | (1915823) | (17086935) |
| **Y Class** |  |  |  |  |
| Issued in reinvestment of distributions | 42 | 376 | 43 | 383 |
| **A Class** |  |  |  |  |
| Sold | 330847 | 2982016 | 284973 | 2541913 |
| Issued in reinvestment of distributions | 27108 | 244369 | 25791 | 229945 |
| Redeemed | (83133) | (745151) | (144165) | (1287697) |
|  | 274822 | 2481234 | 166599 | 1484161 |
| **C Class** |  |  |  |  |
| Sold | 2641 | 23794 | 13958 | 126104 |
| Issued in reinvestment of distributions | 2073 | 18654 | 2762 | 24592 |
| Redeemed | (24890) | (223823) | (19843) | (175581) |
|  | (20176) | (181375) | (3123) | (24885) |
| **R Class** |  |  |  |  |
| Sold | 44863 | 404479 | 53338 | 477487 |
| Issued in reinvestment of distributions | 4160 | 37444 | 5342 | 47665 |
| Redeemed | (91657) | (823308) | (16889) | (150656) |
|  | (42634) | (381385) | 41791 | 374496 |
| **R5 Class** |  |  |  |  |
| Sold | 89629 | 806925 | 50692 | 449927 |
| Issued in reinvestment of distributions | 5673 | 51135 | 5498 | 49012 |
| Redeemed | (60419) | (541673) | (11926) | (107341) |
|  | 34883 | 316387 | 44264 | 391598 |
| **R6 Class** |  |  |  |  |
| Sold | 1485138 | 13386175 | 1220120 | 10893175 |
| Issued in reinvestment of distributions | 139343 | 1255842 | 107786 | 960895 |
| Redeemed | (1058732) | (9524721) | (624976) | (5578146) |
|  | 565749 | 5117296 | 702930 | 6275924 |
| Net increase (decrease) | (97887) | $(728065) | (424322) | $(3657350) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Prime Money Market Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 1298558074 | $1298558074 | 1220264858 | $1220264858 |
| Issued in reinvestment of distributions | 89682799 | 89682799 | 99264300 | 99264300 |
| Redeemed | (1231939026) | (1231939026) | (1031082077) | (1031082077) |
|  | 156301847 | 156301847 | 288447081 | 288447081 |
| **A Class** |  |  |  |  |
| Sold | 19366029 | 19366029 | 15852267 | 15852267 |
| Issued in reinvestment of distributions | 1063114 | 1063114 | 1219054 | 1219054 |
| Redeemed | (20530136) | (20530136) | (11026072) | (11026072) |
|  | (100993) | (100993) | 6045249 | 6045249 |
| **C Class** |  |  |  |  |
| Sold | 82571 | 82571 | 572567 | 572567 |
| Issued in reinvestment of distributions | 32786 | 32786 | 44038 | 44038 |
| Redeemed | (637255) | (637255) | (473149) | (473149) |
|  | (521898) | (521898) | 143456 | 143456 |
| Net increase (decrease) | 155678956 | $155678956 | 294635786 | $294635786 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
|  | **Shares** | **Amount** | **Shares** | **Amount** |
| **Short Duration Fund** | | | | |
| **Investor Class** |  |  |  |  |
| Sold | 2308630 | $22746716 | 2393358 | $23425108 |
| Issued in reinvestment of distributions | 1278483 | 12599804 | 1577864 | 15435473 |
| Redeemed | (4794045) | (47236438) | (11784235) | (115433577) |
|  | (1206932) | (11889918) | (7813013) | (76572996) |
| **I Class** |  |  |  |  |
| Sold | 5592138 | 55083045 | 5042531 | 49346094 |
| Issued in reinvestment of distributions | 662159 | 6525926 | 673004 | 6582833 |
| Redeemed | (6038378) | (59444683) | (8230397) | (80286375) |
|  | 215919 | 2164288 | (2514862) | (24357448) |
| **A Class** |  |  |  |  |
| Sold | 308590 | 3039423 | 324456 | 3172057 |
| Issued in reinvestment of distributions | 48816 | 480870 | 63621 | 622080 |
| Redeemed | (570981) | (5616895) | (795750) | (7805687) |
|  | (213575) | (2096602) | (407673) | (4011550) |
| **C Class** |  |  |  |  |
| Sold | 36792 | 362390 | 177493 | 1735001 |
| Issued in reinvestment of distributions | 7008 | 69083 | 7209 | 70599 |
| Redeemed | (48389) | (476111) | (101398) | (990931) |
|  | (4589) | (44638) | 83304 | 814669 |
| **R Class** |  |  |  |  |
| Sold | 22259 | 219139 | 38917 | 381361 |
| Issued in reinvestment of distributions | 2729 | 26912 | 2711 | 26547 |
| Redeemed | (24589) | (242560) | (48631) | (474546) |
|  | 399 | 3491 | (7003) | (66638) |
| **R5 Class** |  |  |  |  |
| Sold | 186041 | 1832966 | 270608 | 2649119 |
| Issued in reinvestment of distributions | 50459 | 497245 | 54158 | 529605 |
| Redeemed | (287538) | (2831711) | (415014) | (4065531) |
|  | (51038) | (501500) | (90248) | (886807) |
| **R6 Class** |  |  |  |  |
| Sold | 1867838 | 18372285 | 1875664 | 18417300 |
| Issued in reinvestment of distributions | 354273 | 3487974 | 367048 | 3587567 |
| Redeemed | (1445945) | (14226810) | (2357628) | (23088801) |
|  | 776166 | 7633449 | (114916) | (1083934) |
| **G Class** |  |  |  |  |
| Sold | 4496900 | 44240329 | 3249077 | 31814266 |
| Issued in reinvestment of distributions | 2846362 | 28026370 | 3625575 | 35436155 |
| Redeemed | (20736703) | (204456166) | (19319050) | (188764713) |
|  | (13393441) | (132189467) | (12444398) | (121514292) |
| Net increase (decrease) | (13877091) | $(136920897) | (23308809) | $(227678996) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **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 | 4349242 | $45783254 | 2896019 | $29689842 |
| Issued in reinvestment of distributions | 851726 | 8857618 | 539776 | 5505446 |
| Redeemed | (8204036) | (86456035) | (17117409) | (177083582) |
|  | (3003068) | (31815163) | (13681614) | (141888294) |
| **I Class** |  |  |  |  |
| Sold | 10838683 | 115344705 | 8118588 | 84299892 |
| Issued in reinvestment of distributions | 1497860 | 15726247 | 923285 | 9499850 |
| Redeemed | (30687157) | (325280551) | (21406843) | (221866721) |
|  | (18350614) | (194209599) | (12364970) | (128066979) |
| **Y Class** |  |  |  |  |
| Sold | 1172202 | 12520846 | 342228 | 3549881 |
| Issued in reinvestment of distributions | 89554 | 939506 | 38062 | 391979 |
| Redeemed | (345521) | (3669093) | (380379) | (3956066) |
|  | 916235 | 9791259 | (89) | (14206) |
| **A Class** |  |  |  |  |
| Sold | 734189 | 7673051 | 915634 | 9284030 |
| Issued in reinvestment of distributions | 67107 | 689626 | 38703 | 390127 |
| Redeemed | (789484) | (8213386) | (3075392) | (31131389) |
|  | 11812 | 149291 | (2121055) | (21457232) |
| **C Class** |  |  |  |  |
| Sold | 20627 | 206125 | 13881 | 135905 |
| Issued in reinvestment of distributions | 5044 | 49560 | 4069 | 39312 |
| Redeemed | (93420) | (930348) | (181206) | (1754301) |
|  | (67749) | (674663) | (163256) | (1579084) |
| **R Class** |  |  |  |  |
| Sold | 519442 | 5520499 | 412851 | 4310391 |
| Issued in reinvestment of distributions | 48346 | 508359 | 30198 | 311339 |
| Redeemed | (607743) | (6440393) | (705225) | (7308279) |
|  | (39955) | (411535) | (262176) | (2686549) |
| **R5 Class** |  |  |  |  |
| Sold | 1451110 | 15452003 | 1077881 | 11196278 |
| Issued in reinvestment of distributions | 405916 | 4257726 | 247749 | 2549062 |
| Redeemed | (1814949) | (19294903) | (2275158) | (23741850) |
|  | 42077 | 414826 | (949528) | (9996510) |
| **R6 Class** |  |  |  |  |
| Sold | 4465976 | 47649921 | 2495827 | 25977332 |
| Issued in reinvestment of distributions | 259414 | 2719976 | 101427 | 1043529 |
| Redeemed | (2967212) | (31499816) | (1632162) | (16942465) |
|  | 1758178 | 18870081 | 965092 | 10078396 |
| **G Class** |  |  |  |  |
| Sold | 8712890 | 93169328 | 6532841 | 68522617 |
| Issued in reinvestment of distributions | 2448531 | 25718935 | 1903182 | 19598750 |
| Redeemed | (22903371) | (244889986) | (18926937) | (196564905) |
|  | (11741950) | (126001723) | (10490914) | (108443538) |
| Net increase (decrease) | (30475034) | $(323887226) | (39068510) | $(404053996) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2026** | **Year ended<br>March 31, 2025** | **Year ended<br>March 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **Short Duration Strategic Income Fund** | | | | |
| **Investor Class** | | | | |
| Sold | 7384217 | $66764868 | 5914775 | $53018815 |
| Issued in reinvestment of distributions | 805964 | 7287432 | 854672 | 7659550 |
| Redeemed | (5591651) | (50474300) | (7298228) | (65495331) |
|  | 2598530 | 23578000 | (528781) | (4816966) |
| **I Class** |  |  |  |  |
| Sold | 36404140 | 328276072 | 23843170 | 213693338 |
| Issued in reinvestment of distributions | 3194739 | 28870770 | 2631091 | 23576225 |
| Redeemed | (22950199) | (207208980) | (16380716) | (146586322) |
|  | 16648680 | 149937862 | 10093545 | 90683241 |
| **Y Class** |  |  |  |  |
| Sold | 62713 | 565258 | 33942 | 305466 |
| Issued in reinvestment of distributions | 5533 | 50024 | 3510 | 31464 |
| Redeemed | (40391) | (365913) | (15356) | (137064) |
|  | 27855 | 249369 | 22096 | 199866 |
| **A Class** |  |  |  |  |
| Sold | 961287 | 8692463 | 490408 | 4409389 |
| Issued in reinvestment of distributions | 96277 | 870366 | 98893 | 885654 |
| Redeemed | (518146) | (4682289) | (1143111) | (10254624) |
|  | 539418 | 4880540 | (553810) | (4959581) |
| **C Class** |  |  |  |  |
| Sold | 90516 | 816386 | 100003 | 896514 |
| Issued in reinvestment of distributions | 12944 | 117011 | 11145 | 99894 |
| Redeemed | (61008) | (550701) | (66379) | (592401) |
|  | 42452 | 382696 | 44769 | 404007 |
| **R Class** |  |  |  |  |
| Sold | 30890 | 278957 | 65671 | 588957 |
| Issued in reinvestment of distributions | 3434 | 31061 | 4766 | 42730 |
| Redeemed | (49180) | (445249) | (87017) | (784153) |
|  | (14856) | (135231) | (16580) | (152466) |
| **R5 Class** |  |  |  |  |
| Sold | 2233 | 20218 | 3407 | 30529 |
| Issued in reinvestment of distributions | 1183 | 10692 | 1172 | 10498 |
| Redeemed | (1150) | (10398) | (7699) | (68788) |
|  | 2266 | 20512 | (3120) | (27761) |
| **R6 Class** |  |  |  |  |
| Sold | 1418893 | 12788451 | 950522 | 8504077 |
| Issued in reinvestment of distributions | 95079 | 859902 | 81637 | 732346 |
| Redeemed | (958934) | (8651955) | (659594) | (5913602) |
|  | 555038 | 4996398 | 372565 | 3322821 |
| Net increase (decrease) | 20399383 | $183910146 | 9430684 | $84653161 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended**<br>**March 31, 2026**<sup>(1)</sup> | **Year ended**<br>**March 31, 2026**<sup>(1)</sup> | **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 | 1753704671 | $1753704671 | 1568400359 | $1568400359 |
| Issued in reinvestment of distributions | 29278828 | 29278828 | 33738824 | 33738824 |
| Redeemed | (1651121947) | (1651121947) | (1537611516) | (1537611516) |
|  | 131861552 | 131861552 | 64527667 | 64527667 |
| **A Class** |  |  |  |  |
| Sold | 32315673 | 32315673 | 41262998 | 41262998 |
| Issued in reinvestment of distributions | 2371018 | 2371018 | 2881291 | 2881291 |
| Redeemed | (45616505) | (45616505) | (33995791) | (33995791) |
|  | (10929814) | (10929814) | 10148498 | 10148498 |
| **C Class** |  |  |  |  |
| Sold | 16916 | 16916 | 35090 | 35090 |
| Issued in reinvestment of distributions | 6583 | 6583 | 10613 | 10613 |
| Redeemed | (46487) | (46487) | (86234) | (86234) |
|  | (22988) | (22988) | (40531) | (40531) |
| **G Class** |  |  | N/A |  |
| Sold | 291230934 | 291230934 |  |  |
| Issued in reinvestment of distributions | 3379181 | 3379181 |  |  |
| Redeemed | (29551660) | (29551660) |  |  |
|  | 265058455 | 265058455 |  |  |
| Net increase (decrease) | 385967205 | $385967205 | 74635634 | $74635634 |

---

(1)November 12, 2025 (commencement of sale) through March 31, 2026 for the G Class.

**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 | $9563714 |
| Diversified Bond Fund | $75955857 |
| Multisector Income Fund | $4158000 |
| Short Duration Fund | $12555333 |
| Short Duration Inflation Protection Bond Fund | $18319286 |
| Short Duration Strategic Income Fund | $23718000 |

---

------

**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 | $3762829 |
| Diversified Bond Fund | $25814252 |
| Multisector Income Fund | $141964 |
| Short Duration Inflation Protection Bond Fund | $45003643 |
| Short Duration Strategic Income Fund | $1975122 |

---

**Interest Rate Risk —** The funds may be subject to interest rate risk in the normal course of pursuing their investment objectives. A fund may enter into futures contracts or interest rate swap agreements in order to manage its exposure to changes in market conditions. The value of bonds generally declines as interest rates rise. The risks of entering into interest rate risk derivative instruments 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.

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. 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 | $66898470 | $11248011 |
| Diversified Bond Fund | $581359349 | $144291125 |
| High-Yield Fund | $2757691 |  |
| Multisector Income Fund | $32277930 | $1697129 |
| Short Duration Fund | $70435211 | $17820009 |
| Short Duration Inflation Protection Bond Fund | $91179162 | $31248047 |
| Short Duration Strategic Income Fund | $86812386 | $25166771 |

---

A fund may enter into interest rate swap agreements to gain exposure to declines in interest rates, to protect against increases in interest rates, or to maintain its ability to generate income at prevailing interest rates. 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 average notional exposure to interest rate risk derivative instruments held during the period was as follows:

---

| | |
|:---|:---|
| Core Plus Fund | $2910905 |
| Multisector Income Fund | $1358422 |

---

------

**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 | $347766667 |

---

**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 tax character of distributions paid during the years ended March 31, 2026 and March 31, 2025 were as follows: | The tax character of distributions paid during the years ended March 31, 2026 and March 31, 2025 were as follows: | The tax character of distributions paid during the years ended March 31, 2026 and March 31, 2025 were as follows: | The tax character of distributions paid during the years ended March 31, 2026 and March 31, 2025 were as follows: | The tax character of distributions paid during the years ended March 31, 2026 and March 31, 2025 were as follows: |
|  | **2026** | **2026** | **2025** | **2025** |
|  | **Distributions Paid From:** | **Distributions Paid From:** | **Distributions Paid From:** | **Distributions Paid From:** |
|  | **Ordinary<br>Income** | **Long-term<br>Capital Gains** | **Ordinary<br>Income** | **Long-term<br>Capital Gains** |
| Core Plus Fund | $19760915 |  | $19884179 |  |
| Diversified Bond Fund | $239117306 |  | $291680375 |  |
| High Income Fund | $134613707 |  | $152255098 |  |
| High-Yield Fund | $5261529 |  | $5187976 |  |
| Multisector Income Fund | $5902693 |  | $6218955 |  |
| Prime Money Market Fund | $92308660 |  | $102054679 |  |
| Short Duration Fund | $52481366 |  | $63270844 |  |
| Short Duration Inflation Protection Bond Fund | $61273820 |  | $40714905 |  |
| Short Duration Strategic Income Fund | $38230223 |  | $33150730 |  |
| U.S. Government Money Market Fund | $35170573 |  | $36803905 |  |

---

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 federal tax cost of investments and the components of distributable earnings on a tax-basis were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Core Plus Fund** | **Diversified Bond Fund** | **High Income Fund** | **High-Yield Fund** | **Multisector Income Fund** |
| Federal tax cost of investments | $393513386 | $4055197364 | $1859822746 | $92262881 | $105516101 |
| Gross tax appreciation of investments | $2975536 | $26005415 | $33719648 | $860947 | $695971 |
| Gross tax depreciation of investments | (6750511) | (72467058) | (77025020) | (1718012) | (1573990) |
| Net tax appreciation (depreciation) of investments | (3774975) | (46461643) | (43305372) | (857065) | (878019) |
| Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies | (131061) | (87297) |  |  | (57030) |
| Net tax appreciation (depreciation) | $(3906036) | $(46548940) | $(43305372) | $(857065) | $(935049) |
| Other book-to-tax adjustments | $(13485) | $(630367) | $(9888) | $(3294) | $(12040) |
| Undistributed ordinary income | $577104 | $2418825 | $430476 |  |  |
| Accumulated short-term capital losses | $(36174504) | $(469358765) | $(5352550) | $(5572761) | $(4429012) |
| Accumulated long-term capital losses | $(55573180) | $(554295216) | $(137671820) | $(43251243) | $(4178525) |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **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 | $2605133143 | $1003353719 | $1165687451 | $886981662 | $1115274063 |
| Gross tax appreciation of investments |  | $3616894 | $12330136 | $3329233 |  |
| Gross tax depreciation of investments |  | (10561570) | (4789655) | (9555032) |  |
| Net tax appreciation (depreciation) of investments |  | (6944676) | 7540481 | (6225799) |  |
| Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies |  | 11 | 2566536 | (237) |  |
| Net tax appreciation (depreciation) |  | $(6944665) | $10107017 | $(6226036) |  |
| Other book-to-tax adjustments |  | $(14676) |  | $(71066) | $(150) |
| Undistributed ordinary income | $951 | $280887 | $9652472 |  |  |
| Accumulated short-term capital losses | $(71606) | $(37744685) | $(31088400) | $(25219198) | $(123609) |
| Accumulated long-term capital losses | $(2054) | $(58049996) | $(35933759) | $(32161288) | $(5613) |

---

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 and the realization for tax purposes of unrealized gains (losses) on foreign currency exchange contracts and futures contracts. Other book-to-tax adjustments are attributable primarily to the tax deferral of losses on straddle positions.

Accumulated capital losses 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.

------

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** | | | | | | | | | | | | | |
| 2026 | $9.18 | 0.43 | —<sup>(3)</sup> | 0.43 | (0.44) |  | (0.44) | $9.17 | 4.70% | 0.55% | 4.66% | 4.66% | 171% | $359022 |
| 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 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.44 | (0.01) | 0.43 | (0.44) |  | (0.44) | $9.17 | 4.80% | 0.45% | 4.76% | 4.76% | 171% | $12714 |
| 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 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.41 | (0.01) | 0.40 | (0.41) |  | (0.41) | $9.17 | 4.44% | 0.80% | 4.41% | 4.41% | 171% | $10671 |
| 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 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.34 | (0.01) | 0.33 | (0.34) |  | (0.34) | $9.17 | 3.66% | 1.55% | 3.66% | 3.66% | 171% | $458 |
| 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 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.19 | 0.38 | (0.01) | 0.37 | (0.39) |  | (0.39) | $9.17 | 4.06% | 1.05% | 4.16% | 4.16% | 171% | $1246 |
| 2025 | $9.17 | 0.40 | 0.02 | 0.42 | (0.40) |  | (0.40) | $9.19 | 4.72% | 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% | 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% | 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% | 1.70% | 1.70% | 238% | $825 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| **R5 Class** | **R5 Class** | | | | | | | | | | | | | | |
| 2026 | $9.18 | 0.45 | (0.01) | 0.44 | (0.45) |  | (0.45) | $9.17 | 4.90% | 0.35% | 0.35% | 4.86% | 4.86% | 171% | $1706 |
| 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 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.48 | —<sup>(3)</sup> | 0.48 | (0.49) |  | (0.49) | $9.17 | 5.28% | 0.01% | 0.35% | 5.20% | 4.86% | 171% | $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 |

---

**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)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)** | | | | | | | |
| **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** | | | | | | | | | | | | |
| 2026 | $9.17 | 0.40 | —<sup>(3)</sup> | 0.40 | (0.41) |  | (0.41) | $9.16 | 4.37% | 0.60% | 4.30% | 161% | $466042 |
| 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 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.41 | —<sup>(3)</sup> | 0.41 | (0.42) |  | (0.42) | $9.17 | 4.58% | 0.40% | 4.50% | 161% | $640206 |
| 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 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.42 | —<sup>(3)</sup> | 0.42 | (0.43) |  | (0.43) | $9.17 | 4.61% | 0.37% | 4.53% | 161% | $237369 |
| 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 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.17 | 0.37 | —<sup>(3)</sup> | 0.37 | (0.38) |  | (0.38) | $9.16 | 4.11% | 0.85% | 4.05% | 161% | $42618 |
| 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 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.17 | 0.30 | (0.01) | 0.29 | (0.31) |  | (0.31) | $9.15 | 3.23% | 1.60% | 3.30% | 161% | $3327 |
| 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 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026 | $9.17 | 0.35 | —<sup>(3)</sup> | 0.35 | (0.36) |  | (0.36) | $9.16 | 3.85% | 1.10% | 1.10% | 3.80% | 3.80% | 161% | $4217 |
| 2025 | $9.16 | 0.36 | 0.01 | 0.37 | (0.36) |  | (0.36) | $9.17 | 4.14% | 1.10% | 1.10% | 3.88% | 3.88% | 154% | $4037 |
| 2024 | $9.43 | 0.32 | (0.27) | 0.05 | (0.32) |  | (0.32) | $9.16 | 0.64% | 1.10% | 1.10% | 3.55% | 3.55% | 154% | $4163 |
| 2023 | $10.28 | 0.23 | (0.85) | (0.62) | (0.23) |  | (0.23) | $9.43 | (6.03)% | 1.10% | 1.10% | 2.53% | 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% | 1.09% | 0.91% | 0.91% | 238% | $5334 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.42 | —<sup>(3)</sup> | 0.42 | (0.43) |  | (0.43) | $9.17 | 4.60% | 0.40% | 0.40% | 4.50% | 4.50% | 161% | $6 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.86% | 0.40% | 0.40% | 4.58% | 4.58% | 154% | $6 |
| 2024 | $9.43 | 0.39 | (0.26) | 0.13 | (0.39) |  | (0.39) | $9.17 | 1.45% | 0.40% | 0.40% | 4.25% | 4.25% | 154% | $5 |
| 2023 | $10.28 | 0.30 | (0.86) | (0.56) | (0.29) |  | (0.29) | $9.43 | (5.40)% | 0.40% | 0.40% | 3.23% | 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% | 0.39% | 1.61% | 1.61% | 238% | $6 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.42 | —<sup>(3)</sup> | 0.42 | (0.43) |  | (0.43) | $9.17 | 4.63% | 0.35% | 0.35% | 4.55% | 4.55% | 161% | $110834 |
| 2025 | $9.17 | 0.42 | 0.02 | 0.44 | (0.43) |  | (0.43) | $9.18 | 4.92% | 0.35% | 0.35% | 4.63% | 4.63% | 154% | $119968 |
| 2024 | $9.44 | 0.39 | (0.27) | 0.12 | (0.39) |  | (0.39) | $9.17 | 1.40% | 0.35% | 0.35% | 4.30% | 4.30% | 154% | $154989 |
| 2023 | $10.29 | 0.30 | (0.85) | (0.55) | (0.30) |  | (0.30) | $9.44 | (5.31)% | 0.35% | 0.35% | 3.28% | 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% | 0.34% | 1.66% | 1.66% | 238% | $122753 |
| **G Class** | **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.18 | 0.45 | —<sup>(3)</sup> | 0.45 | (0.46) |  | (0.46) | $9.17 | 4.99% | 0.01% | 0.35% | 4.89% | 4.55% | 161% | $2417732 |
| 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)Per-share amount was less than $0.005.

(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.

------

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | | | | | | | | | | | | | |
| 2026 | $8.58 | 0.57 | 0.02 | 0.59 | (0.57) |  | (0.57) | $8.60 | 7.00% | 0.78% | 6.56% | 6.56% | 42% | $218977 |
| 2025 | $8.58 | 0.56 | —<sup>(3)</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 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.58 | 0.58 | 0.02 | 0.60 | (0.58) |  | (0.58) | $8.60 | 7.11% | 0.68% | 6.66% | 6.66% | 42% | $135795 |
| 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 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.58 | 0.59 | 0.02 | 0.61 | (0.59) |  | (0.59) | $8.60 | 7.22% | 0.58% | 6.76% | 6.76% | 42% | $366774 |
| 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 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.58 | 0.55 | 0.02 | 0.57 | (0.55) |  | (0.55) | $8.60 | 6.74% | 1.03% | 6.31% | 6.31% | 42% | $8305 |
| 2025 | $8.58 | 0.53 | —<sup>(3)</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 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.58 | 0.59 | 0.02 | 0.61 | (0.59) |  | (0.59) | $8.60 | 7.22% | 0.58% | 6.76% | 6.76% | 42% | $230 |
| 2025 | $8.57 | 0.57 | 0.01 | 0.58 | (0.57) |  | (0.57) | $8.58 | 6.97% | 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% | 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% | 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% | 5.04% | 5.04% | 49% | $166 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| **R6 Class** | **R6 Class** | | | | | | | | | | | | | | |
| 2026 | $8.58 | 0.59 | 0.01 | 0.60 | (0.59) |  | (0.59) | $8.59 | 7.15% | 0.53% | 0.53% | 6.81% | 6.81% | 42% | $404348 |
| 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 |
| **G Class** | **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.58 | 0.64 | 0.02 | 0.66 | (0.64) |  | (0.64) | $8.60 | 7.83% | 0.00% | 0.53% | 7.34% | 6.81% | 42% | $702839 |
| 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>(4)</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>(5)</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)Per-share amount was less than $0.005.

(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.

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | | | | | | | | | | |
| 2026 | $5.06 | 0.32 | 0.04 | 0.36 | (0.32) | $5.10 | 7.13% | 0.70% | 6.14% | 116% | $73065 |
| 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 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.08 | 0.32 | 0.03 | 0.35 | (0.32) | $5.11 | 7.02% | 0.60% | 6.24% | 116% | $2461 |
| 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 |
| **Y Class** | **Y Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.07 | 0.33 | 0.04 | 0.37 | (0.33) | $5.11 | 7.34% | 0.50% | 6.34% | 116% | $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 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.06 | 0.30 | 0.04 | 0.34 | (0.30) | $5.10 | 6.87% | 0.95% | 5.89% | 116% | $8430 |
| 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% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11933 |

---

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | | | | | | | | | | |
| 2026 | $5.06 | 0.26 | 0.04 | 0.30 | (0.26) | $5.10 | 6.07% | 1.70% | 5.14% | 116% | $801 |
| 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 |
| **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.06 | 0.29 | 0.04 | 0.33 | (0.29) | $5.10 | 6.60% | 1.20% | 5.64% | 116% | $1485 |
| 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 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.06 | 0.33 | 0.04 | 0.37 | (0.33) | $5.10 | 7.34% | 0.50% | 6.34% | 116% | $61 |
| 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 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |
| 2026 | $5.05 | 0.32 | 0.05 | 0.37 | (0.33) | $5.09 | 7.40% | 0.45% | 6.39% | 116% | $184 |
| 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 |

---

**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.

\*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)** |
| **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>**:** | | |
| | **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** | **Net<br>Investment<br>Income<br>(Loss)** | **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** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2026 | $8.92 | 0.48 | (0.01) | 0.47 | (0.48) |  | (0.48) | $8.91 | 5.38% | 0.56% | 5.31% | 162% | $52228 |
| 2025 | $8.86 | 0.50 | 0.08 | 0.58 | (0.52) |  | (0.52) | $8.92 | 6.76% | 0.57% | 5.65% | 169% | $51246 |
| 2024 | $8.93 | 0.47 | (0.07) | 0.40 | (0.47) |  | (0.47) | $8.86 | 4.72% | 0.56% | 5.41% | 173% | $46154 |
| 2023 | $9.58 | 0.37 | (0.65) | (0.28) | (0.37) |  | (0.37) | $8.93 | (2.87)% | 0.73% | 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% | 3.24% | 185% | $54374 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.91 | 0.49 | —<sup>(3)</sup> | 0.49 | (0.49) |  | (0.49) | $8.91 | 5.60% | 0.46% | 5.41% | 162% | $14418 |
| 2025 | $8.86 | 0.51 | 0.07 | 0.58 | (0.53) |  | (0.53) | $8.91 | 6.75% | 0.47% | 5.75% | 169% | $23563 |
| 2024 | $8.93 | 0.48 | (0.07) | 0.41 | (0.48) |  | (0.48) | $8.86 | 4.83% | 0.46% | 5.51% | 173% | $40389 |
| 2023 | $9.58 | 0.39 | (0.66) | (0.27) | (0.38) |  | (0.38) | $8.93 | (2.78)% | 0.63% | 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% | 3.34% | 185% | $7009 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.92 | 0.49 | —<sup>(3)</sup> | 0.49 | (0.50) |  | (0.50) | $8.91 | 5.57% | 0.36% | 5.51% | 162% | $7 |
| 2025 | $8.86 | 0.52 | 0.08 | 0.60 | (0.54) |  | (0.54) | $8.92 | 6.95% | 0.37% | 5.85% | 169% | $7 |
| 2024 | $8.93 | 0.49 | (0.07) | 0.42 | (0.49) |  | (0.49) | $8.86 | 4.80% | 0.36% | 5.61% | 173% | $6 |
| 2023 | $9.58 | 0.38 | (0.65) | (0.27) | (0.38) |  | (0.38) | $8.93 | (2.70)% | 0.53% | 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% | 3.44% | 185% | $6 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.92 | 0.45 | —<sup>(3)</sup> | 0.45 | (0.46) |  | (0.46) | $8.91 | 5.12% | 0.81% | 5.06% | 162% | $9666 |
| 2025 | $8.86 | 0.48 | 0.08 | 0.56 | (0.50) |  | (0.50) | $8.92 | 6.50% | 0.82% | 5.40% | 169% | $7224 |
| 2024 | $8.93 | 0.45 | (0.07) | 0.38 | (0.45) |  | (0.45) | $8.86 | 4.35% | 0.81% | 5.16% | 173% | $5704 |
| 2023 | $9.58 | 0.35 | (0.65) | (0.30) | (0.35) |  | (0.35) | $8.93 | (3.01)% | 0.98% | 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% | 2.99% | 185% | $4535 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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>**:** | | |
| | **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** | **Net<br>Investment<br>Income<br>(Loss)** | **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** |
| **C Class** | | | | | | | | | | | | | |
| 2026 | $8.91 | 0.39 | (0.01) | 0.38 | (0.39) |  | (0.39) | $8.90 | 4.34% | 1.56% | 4.31% | 162% | $345 |
| 2025 | $8.86 | 0.41 | 0.08 | 0.49 | (0.44) |  | (0.44) | $8.91 | 5.59% | 1.57% | 4.65% | 169% | $525 |
| 2024 | $8.93 | 0.39 | (0.07) | 0.32 | (0.39) |  | (0.39) | $8.86 | 3.69% | 1.56% | 4.41% | 173% | $550 |
| 2023 | $9.58 | 0.29 | (0.66) | (0.37) | (0.28) |  | (0.28) | $8.93 | (3.84)% | 1.73% | 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% | 2.24% | 185% | $349 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.92 | 0.43 | —<sup>(3)</sup> | 0.43 | (0.44) |  | (0.44) | $8.91 | 4.85% | 1.06% | 4.81% | 162% | $702 |
| 2025 | $8.86 | 0.46 | 0.08 | 0.54 | (0.48) |  | (0.48) | $8.92 | 6.23% | 1.07% | 5.15% | 169% | $1083 |
| 2024 | $8.93 | 0.43 | (0.07) | 0.36 | (0.43) |  | (0.43) | $8.86 | 4.09% | 1.06% | 4.91% | 173% | $706 |
| 2023 | $9.59 | 0.33 | (0.67) | (0.34) | (0.32) |  | (0.32) | $8.93 | (3.35)% | 1.23% | 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% | 2.74% | 185% | $544 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.91 | 0.49 | 0.01 | 0.50 | (0.50) |  | (0.50) | $8.91 | 5.71% | 0.36% | 5.51% | 162% | $1308 |
| 2025 | $8.86 | 0.52 | 0.07 | 0.59 | (0.54) |  | (0.54) | $8.91 | 6.85% | 0.37% | 5.85% | 169% | $998 |
| 2024 | $8.93 | 0.49 | (0.07) | 0.42 | (0.49) |  | (0.49) | $8.86 | 4.93% | 0.36% | 5.61% | 173% | $599 |
| 2023 | $9.58 | 0.39 | (0.65) | (0.26) | (0.39) |  | (0.39) | $8.93 | (2.68)% | 0.53% | 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% | 3.44% | 185% | $383 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.91 | 0.50 | 0.01 | 0.51 | (0.51) |  | (0.51) | $8.91 | 5.76% | 0.31% | 5.56% | 162% | $25012 |
| 2025 | $8.86 | 0.53 | 0.07 | 0.60 | (0.55) |  | (0.55) | $8.91 | 6.91% | 0.32% | 5.90% | 169% | $19987 |
| 2024 | $8.93 | 0.50 | (0.07) | 0.43 | (0.50) |  | (0.50) | $8.86 | 4.99% | 0.31% | 5.66% | 173% | $13638 |
| 2023 | $9.58 | 0.40 | (0.66) | (0.26) | (0.39) |  | (0.39) | $8.93 | (2.63)% | 0.48% | 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% | 3.49% | 185% | $5047 |

---

**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)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)** |
| **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\*:** | **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** |
| 2026 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 3.78% | 0.57% | 0.57% | 3.72% | 3.72% | $2550921 |
| 2025 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 4.67% | 0.57% | 0.57% | 4.56% | 4.56% | $2394636 |
| 2024 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 5.04% | 0.58% | 0.58% | 4.93% | 4.93% | $2106170 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 2.38% | 0.58% | 0.58% | 2.40% | 2.40% | $1905924 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.18% | 0.58% | 0.01% | (0.39)% | $1707589 |
| **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** |
| 2026 | $1.00 | 0.03 | —<sup>(2)</sup> | 0.03 | (0.03) | $1.00 | 3.53% | 0.82% | 0.82% | 3.47% | 3.47% | $31864 |
| 2025 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 4.41% | 0.82% | 0.82% | 4.31% | 4.31% | $31965 |
| 2024 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 4.78% | 0.83% | 0.83% | 4.68% | 4.68% | $25920 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 2.15% | 0.81% | 0.83% | 2.17% | 2.15% | $23958 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.18% | 0.83% | 0.01% | (0.64)% | $21439 |
| **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** |
| 2026 | $1.00 | 0.03 | —<sup>(2)</sup> | 0.03 | (0.03) | $1.00 | 3.01% | 1.32% | 1.32% | 2.97% | 2.97% | $801 |
| 2025 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 3.89% | 1.32% | 1.32% | 3.81% | 3.81% | $1323 |
| 2024 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 4.25% | 1.33% | 1.33% | 4.18% | 4.18% | $1179 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 1.73% | 1.18% | 1.33% | 1.80% | 1.65% | $2147 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.21% | 1.33% | (0.02)% | (1.14)% | $6818 |

---

**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)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** | | | | | | | | | | | | |
| 2026 | $9.81 | 0.43 | —<sup>(3)</sup> | 0.43 | (0.44) |  | (0.44) | $9.80 | 4.43% | 0.57% | 4.39% | 4.39% | 197% | $278892 |
| 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 |
| **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.81 | 0.44 | —<sup>(3)</sup> | 0.44 | (0.45) |  | (0.45) | $9.80 | 4.54% | 0.47% | 4.49% | 4.49% | 197% | $146682 |
| 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 |
| **A Class** | **A Class** | **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.81 | 0.41 | (0.02) | 0.39 | (0.41) |  | (0.41) | $9.79 | 4.07% | 0.82% | 4.14% | 4.14% | 197% | $14739 |
| 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 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.81 | 0.33 | —<sup>(3)</sup> | 0.33 | (0.34) |  | (0.34) | $9.80 | 3.40% | 1.57% | 3.39% | 3.39% | 197% | $2359 |
| 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 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** | | | | | | | | | | | | | | | |
| 2026 | $9.82 | 0.38 | (0.01) | 0.37 | (0.39) |  | (0.39) | $9.80 | 3.81% | 1.07% | 1.07% | 3.89% | 3.89% | 197% | $626 |
| 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 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.81 | 0.45 | —<sup>(3)</sup> | 0.45 | (0.46) |  | (0.46) | $9.80 | 4.64% | 0.37% | 0.37% | 4.59% | 4.59% | 197% | $10360 |
| 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 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.80 | 0.46 | (0.01) | 0.45 | (0.46) |  | (0.46) | $9.79 | 4.69% | 0.32% | 0.32% | 4.64% | 4.64% | 197% | $79557 |
| 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 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.80 | 0.49 | (0.01) | 0.48 | (0.49) |  | (0.49) | $9.79 | 5.02% | 0.01% | 0.32% | 4.95% | 4.64% | 197% | $471210 |
| 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 |

---

**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)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)** | | |
| **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** | | |
| 2026 | $10.53 | 0.34 | 0.01 | 0.35 | (0.41) |  | (0.41) | $10.47 | 3.42% | 0.58% | 3.20% | 59% | $205453 |
| 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 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.63 | 0.34 | 0.02 | 0.36 | (0.42) |  | (0.42) | $10.57 | 3.49% | 0.48% | 3.30% | 59% | $227682 |
| 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 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.64 | 0.35 | 0.03 | 0.38 | (0.44) |  | (0.44) | $10.58 | 3.60% | 0.38% | 3.40% | 59% | $26089 |
| 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 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.40 | 0.30 | 0.03 | 0.33 | (0.39) |  | (0.39) | $10.34 | 3.20% | 0.83% | 2.95% | 59% | $27584 |
| 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 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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** |
| **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** | **C Class** | | |
| 2026 | $9.94 | 0.23 | —<sup>(3)</sup> | 0.23 | (0.31) |  | (0.31) | $9.86 | 2.32% | 1.58% | 1.58% | 2.20% | 2.20% | 59% | $1716 |
| 2025 | $9.55 | 0.23 | 0.34 | 0.57 | (0.18) |  | (0.18) | $9.94 | 5.98% | 1.61% | 1.61% | 2.12% | 2.12% | 56% | $2403 |
| 2024 | $9.66 | 0.15 | (0.07) | 0.08 | (0.19) |  | (0.19) | $9.55 | 0.86% | 1.70% | 1.70% | 1.32% | 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% | 1.63% | 3.46% | 3.46% | 32% | $8851 |
| 2022 | $10.32 | 0.34 | 0.06 | 0.40 | (0.33) |  | (0.33) | $10.39 | 3.92% | 1.56% | 1.56% | 3.48% | 3.48% | 71% | $8274 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.63 | 0.29 | 0.01 | 0.30 | (0.36) |  | (0.36) | $10.57 | 2.87% | 1.08% | 1.08% | 2.70% | 2.70% | 59% | $13975 |
| 2025 | $10.18 | 0.27 | 0.38 | 0.65 | (0.20) |  | (0.20) | $10.63 | 6.48% | 1.11% | 1.11% | 2.62% | 2.62% | 56% | $14481 |
| 2024 | $10.27 | 0.18 | (0.04) | 0.14 | (0.23) |  | (0.23) | $10.18 | 1.35% | 1.20% | 1.20% | 1.82% | 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% | 1.13% | 3.96% | 3.96% | 32% | $17660 |
| 2022 | $10.90 | 0.45 | 0.03 | 0.48 | (0.37) |  | (0.37) | $11.01 | 4.44% | 1.06% | 1.06% | 3.98% | 3.98% | 71% | $19782 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.63 | 0.36 | 0.02 | 0.38 | (0.44) |  | (0.44) | $10.57 | 3.60% | 0.38% | 0.38% | 3.40% | 3.40% | 59% | $104939 |
| 2025 | $10.16 | 0.34 | 0.39 | 0.73 | (0.26) |  | (0.26) | $10.63 | 7.23% | 0.41% | 0.41% | 3.32% | 3.32% | 56% | $105109 |
| 2024 | $10.25 | 0.25 | (0.04) | 0.21 | (0.30) |  | (0.30) | $10.16 | 2.06% | 0.50% | 0.50% | 2.52% | 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% | 0.43% | 4.66% | 4.66% | 32% | $111102 |
| 2022 | $10.88 | 0.54 | 0.01 | 0.55 | (0.45) |  | (0.45) | $10.98 | 5.09% | 0.36% | 0.36% | 4.68% | 4.68% | 71% | $122195 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.63 | 0.36 | 0.01 | 0.37 | (0.44) |  | (0.44) | $10.56 | 3.55% | 0.33% | 0.33% | 3.45% | 3.45% | 59% | $66526 |
| 2025 | $10.16 | 0.34 | 0.39 | 0.73 | (0.26) |  | (0.26) | $10.63 | 7.29% | 0.36% | 0.36% | 3.37% | 3.37% | 56% | $48236 |
| 2024 | $10.25 | 0.24 | (0.03) | 0.21 | (0.30) |  | (0.30) | $10.16 | 2.11% | 0.45% | 0.45% | 2.57% | 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% | 0.38% | 4.71% | 4.71% | 32% | $22373 |
| 2022 | $10.88 | 0.52 | 0.03 | 0.55 | (0.45) |  | (0.45) | $10.98 | 5.14% | 0.31% | 0.31% | 4.73% | 4.73% | 71% | $18725 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $10.65 | 0.41 | —<sup>(3)</sup> | 0.41 | (0.47) |  | (0.47) | $10.59 | 3.97% | 0.02% | 0.33% | 3.76% | 3.45% | 59% | $503741 |
| 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 |

---

------

**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)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)** |
| **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 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** | **Net <br>Investment <br>Income <br>(Loss)** | **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** |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2026 | $8.99 | 0.43 | (0.01) | 0.42 | (0.43) |  | (0.43) | $8.98 | 4.79% | 0.52% | 4.79% | 156% | $171015 |
| 2025 | $8.90 | 0.45 | 0.10 | 0.55 | (0.46) |  | (0.46) | $8.99 | 6.28% | 0.52% | 5.06% | 162% | $147957 |
| 2024 | $8.89 | 0.43 | 0.02 | 0.45 | (0.44) |  | (0.44) | $8.90 | 5.09% | 0.52% | 4.90% | 214% | $151197 |
| 2023 | $9.34 | 0.32 | (0.45) | (0.13) | (0.32) |  | (0.32) | $8.89 | (1.24)% | 0.52% | 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% | 2.28% | 120% | $255208 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.99 | 0.44 | (0.02) | 0.42 | (0.44) |  | (0.44) | $8.97 | 4.78% | 0.42% | 4.89% | 156% | $665555 |
| 2025 | $8.90 | 0.46 | 0.10 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.38% | 0.42% | 5.16% | 162% | $517125 |
| 2024 | $8.89 | 0.44 | 0.02 | 0.46 | (0.45) |  | (0.45) | $8.90 | 5.32% | 0.42% | 5.00% | 214% | $422157 |
| 2023 | $9.33 | 0.33 | (0.44) | (0.11) | (0.33) |  | (0.33) | $8.89 | (1.15)% | 0.42% | 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% | 2.38% | 120% | $430865 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.99 | 0.45 | (0.02) | 0.43 | (0.45) |  | (0.45) | $8.97 | 4.88% | 0.32% | 4.99% | 156% | $1021 |
| 2025 | $8.90 | 0.47 | 0.09 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.49% | 0.32% | 5.26% | 162% | $772 |
| 2024 | $8.89 | 0.46 | 0.01 | 0.47 | (0.46) |  | (0.46) | $8.90 | 5.30% | 0.32% | 5.10% | 214% | $568 |
| 2023 | $9.34 | 0.40 | (0.51) | (0.11) | (0.34) |  | (0.34) | $8.89 | (1.07)% | 0.32% | 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% | 2.48% | 120% | $6 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.99 | 0.41 | (0.02) | 0.39 | (0.41) |  | (0.41) | $8.97 | 4.41% | 0.77% | 4.54% | 156% | $21784 |
| 2025 | $8.90 | 0.43 | 0.09 | 0.52 | (0.43) |  | (0.43) | $8.99 | 6.01% | 0.77% | 4.81% | 162% | $16973 |
| 2024 | $8.89 | 0.41 | 0.02 | 0.43 | (0.42) |  | (0.42) | $8.90 | 4.83% | 0.77% | 4.65% | 214% | $21732 |
| 2023 | $9.34 | 0.32 | (0.47) | (0.15) | (0.30) |  | (0.30) | $8.89 | (1.49)% | 0.77% | 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% | 2.03% | 120% | $17050 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **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>**:** | | |
| | **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** | **Net <br>Investment <br>Income <br>(Loss)** | **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** |
| **C Class** | | | | | | | | | | | | | |
| 2026 | $8.99 | 0.34 | (0.02) | 0.32 | (0.34) |  | (0.34) | $8.97 | 3.63% | 1.52% | 3.79% | 156% | $3236 |
| 2025 | $8.90 | 0.36 | 0.10 | 0.46 | (0.37) |  | (0.37) | $8.99 | 5.23% | 1.52% | 4.06% | 162% | $2860 |
| 2024 | $8.89 | 0.35 | 0.01 | 0.36 | (0.35) |  | (0.35) | $8.90 | 4.05% | 1.52% | 3.90% | 214% | $2433 |
| 2023 | $9.34 | 0.23 | (0.45) | (0.22) | (0.23) |  | (0.23) | $8.89 | (2.23)% | 1.52% | 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% | 1.28% | 120% | $3550 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.00 | 0.39 | (0.02) | 0.37 | (0.39) |  | (0.39) | $8.98 | 4.15% | 1.02% | 4.29% | 156% | $627 |
| 2025 | $8.91 | 0.41 | 0.09 | 0.50 | (0.41) |  | (0.41) | $9.00 | 5.75% | 1.02% | 4.56% | 162% | $761 |
| 2024 | $8.90 | 0.39 | 0.02 | 0.41 | (0.40) |  | (0.40) | $8.91 | 4.69% | 1.02% | 4.40% | 214% | $901 |
| 2023 | $9.34 | 0.30 | (0.46) | (0.16) | (0.28) |  | (0.28) | $8.90 | (1.74)% | 1.02% | 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% | 1.78% | 120% | $187 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $8.99 | 0.45 | (0.01) | 0.44 | (0.45) |  | (0.45) | $8.98 | 4.88% | 0.32% | 4.99% | 156% | $225 |
| 2025 | $8.90 | 0.47 | 0.09 | 0.56 | (0.47) |  | (0.47) | $8.99 | 6.49% | 0.32% | 5.26% | 162% | $205 |
| 2024 | $8.89 | 0.45 | 0.02 | 0.47 | (0.46) |  | (0.46) | $8.90 | 5.30% | 0.32% | 5.10% | 214% | $230 |
| 2023 | $9.34 | 0.35 | (0.46) | (0.11) | (0.34) |  | (0.34) | $8.89 | (1.05)% | 0.32% | 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% | 2.48% | 120% | $131 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $9.00 | 0.46 | (0.02) | 0.44 | (0.46) |  | (0.46) | $8.98 | 4.93% | 0.27% | 5.04% | 156% | $20097 |
| 2025 | $8.91 | 0.48 | 0.09 | 0.57 | (0.48) |  | (0.48) | $9.00 | 6.54% | 0.27% | 5.31% | 162% | $15140 |
| 2024 | $8.90 | 0.46 | 0.01 | 0.47 | (0.46) |  | (0.46) | $8.91 | 5.48% | 0.27% | 5.15% | 214% | $11671 |
| 2023 | $9.34 | 0.36 | (0.46) | (0.10) | (0.34) |  | (0.34) | $8.90 | (1.00)% | 0.27% | 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% | 2.53% | 120% | $3008 |

---

**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.

\*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 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** | | | | | | | | | | | | |
| 2026 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 3.77% | 0.45% | 0.45% | 3.66% | 3.66% | $774834 |
| 2025 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 4.64% | 0.45% | 0.45% | 4.56% | 4.56% | $642965 |
| 2024 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 4.97% | 0.46% | 0.46% | 4.87% | 4.87% | $578368 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 2.22% | 0.46% | 0.46% | 2.21% | 2.21% | $555354 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.10% | 0.45% | 0.01% | (0.34)% | $582093 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $1.00 | 0.03 | —<sup>(2)</sup> | 0.03 | (0.03) | $1.00 | 3.51% | 0.70% | 0.70% | 3.41% | 3.41% | $66327 |
| 2025 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 4.38% | 0.70% | 0.70% | 4.31% | 4.31% | $77256 |
| 2024 | $1.00 | 0.05 | —<sup>(2)</sup> | 0.05 | (0.05) | $1.00 | 4.71% | 0.71% | 0.71% | 4.62% | 4.62% | $67102 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 1.99% | 0.69% | 0.71% | 1.98% | 1.96% | $79333 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.10% | 0.70% | 0.01% | (0.59)% | $78959 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026 | $1.00 | 0.03 | —<sup>(2)</sup> | 0.03 | (0.03) | $1.00 | 3.00% | 1.20% | 1.20% | 2.91% | 2.91% | $236 |
| 2025 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 3.86% | 1.20% | 1.20% | 3.81% | 3.81% | $259 |
| 2024 | $1.00 | 0.04 | —<sup>(2)</sup> | 0.04 | (0.04) | $1.00 | 4.19% | 1.21% | 1.21% | 4.12% | 4.12% | $299 |
| 2023 | $1.00 | 0.02 | —<sup>(2)</sup> | 0.02 | (0.02) | $1.00 | 1.58% | 1.13% | 1.21% | 1.54% | 1.46% | $306 |
| 2022 | $1.00 | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | —<sup>(2)</sup> | $1.00 | 0.01% | 0.10% | 1.20% | 0.01% | (1.09)% | $231 |
| **G Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $1.00 | 0.01 | —<sup>(2)</sup> | 0.01 | (0.01) | $1.00 | 1.47% | 0.00% | 0.45% | 3.80% | 3.35% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$265058 |

---

**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)Per-share amount was less than $0.005.

(3)November 12, 2025 (commencement of sale) through March 31, 2026.

\*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.

------

Report of Independent Registered Public Accounting Firm

To the shareholders and the Board of Trustees of American Century Investment Trust:

**Opinion on the Financial Statements and Financial Highlights** 

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Core Plus Fund, Diversified Bond Fund, High Income Fund, High-Yield Fund, Multisector Income Fund, Prime Money Market Fund, Short Duration Fund, Short Duration Inflation Protection Bond Fund, Short Duration Strategic Income Fund, and U.S. Government Money Market Fund (the "Funds"), each a series of American Century Investment Trust, as of March 31, 2026, the related statements of operations for the year then ended, statements of changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2026, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion**

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of March 31, 2026, by correspondence with the custodian, brokers, and agent banks; when replies were not received from brokers or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Kansas City, Missouri

May 19, 2026

We have served as the auditor of one or more American Century investment companies since 1997.

------

**Other Tax Information**

The following information is provided pursuant to provisions of the Internal Revenue Code (IRC).

The funds hereby designate up to the maximum amount allowable as qualified dividend income for the fiscal year ended March 31, 2026.

The funds hereby designate the following, or up to the maximum amount allowable, for the fiscal year ended March 31, 2026.

---

| | |
|:---|:---|
| | **Corporate Dividends Received Deduction** |
| Core Plus Fund |  |
| Diversified Bond Fund |  |
| High Income Fund | $139689 |
| High-Yield Fund |  |
| Multisector Income Fund |  |
| Prime Money Market Fund |  |
| Short Duration Fund |  |
| Short Duration Inflation Protection Bond Fund |  |
| Short Duration Strategic Income Fund |  |
| U.S. Government Money Market Fund |  |

---

------

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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.* |
| **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-ANN-92279 2605** | **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-ANN-92279 2605** |

---

------

(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.**

None. <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.**

------

(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) <u>[Registrant's Code of Ethics](https://www.sec.gov/Archives/edgar/data/1293210/000129321005000017/ex-coe.htm)</u> for Senior Financial Officers, which is the subject of the disclosure required by Item 2 of Form N-CSR, was filed as Exhibit 12(a)(1) to American Century Asset Allocation Portfolios, Inc.'s Certified Shareholder Report on Form N-CSR, File No. 811-21591, on September 29, 2005.

(a)(2) Not applicable.

(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.

------

**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.

---

| | | |
|:---|:---|:---|
| Registrant: | American Century Investment Trust | American Century Investment Trust |
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
| Date: | May 28, 2026 | May 28, 2026 |

---

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.

---

| | | |
|:---|:---|:---|
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
|  |  | (principal executive officer) |
| Date: | May 28, 2026 | May 28, 2026 |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ R. Wes Campbell | /s/ R. Wes Campbell |
|  | Name: | R. Wes Campbell |
|  | Title: | Treasurer and |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |
| Date: | May 28, 2026 | May 28, 2026 |

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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: | May 28, 2026 |
| /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.

---

| | |
|:---|:---|
| Date: | May 28, 2026 |
| /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 March 31, 2026 (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: | May 28, 2026 |  |  |
|  |  | 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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